Talc Market Worth $3.35 Billion by 2023
PUNE, India, August 7, 2018 /PRNewswire/ --
According to a new market research report 'Talc Market by Deposit Type (Talc Carbonate, Talc Chlorite), End-use Industry (Plastics, Pulp & Paper, Ceramics, Paints & Coatings, Cosmetics & Personal Care, Pharmaceuticals, Food), and Region (Asia Pacific, North America) - Global Forecast to 2023', published by MarketsandMarkets™, the global market is projected to grow from USD 2.68 billion in 2018 to USD 3.35 billion by 2023, at a CAGR of 4.6% from 2018 to 2023. Increasing demand for talc from the automotive industry, rapid industrialization, increased disposable incomes of the middle-class populations of emerging economies, and increasing R&D activities for the development of new grades of talc are opportunities for the growth of the Talc Market.
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Based on deposit type, the talc carbonate segment is estimated to account for the largest share of the Talc Market in 2018
Based on deposit type, the talc carbonate segment is estimated to account for the largest share of the Talc Market in 2018. Talc carbonate deposits are mainly composed of talc carbonate and traces of chlorite. Carbonate is primarily composed of magnesite (magnesium carbonate) or dolomite (magnesium and calcium carbonate).
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Based on end-use industry, the plastics segment is estimated to be the largest segment of the Talc Market in 2018
Based on end-use industry, the plastics segment is estimated to be the largest segment of the Talc Market in 2018. Talc is used as a reinforcing filler in polypropylene and engineering thermoplastics for automotive parts, domestic applications, electrical & electronic components, and food packaging.
The Talc Market in the Asia Pacific is expected to witness the highest growth during the forecast period
Asia Pacific is the fastest-growing region for talc globally. The growth of the Asia Pacific Talc Market can be attributed to the increasing demand for talc-reinforced polypropylene from the automotive industry. Continuously increasing population and rapid industrialization are factors driving the growth of the Asia Pacific Talc Market. China is the largest consumer of talc in the Asia Pacific region.
Key players in the Talc Market include Imerys (France), Mondo Minerals (Netherlands), Minerals Technologies (US), IMI Fabi (Italy), Golcha Minerals (India), and Nippon Talc (Japan), among others.
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