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The talc market share is expected to increase by USD 597.30 million from 2019 to 2024, and the market's growth momentum will accelerate at a CAGR of 4%.
This talc market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers talc market segmentation by end-user (plastics and rubber, paper and pulp, ceramics, paints and coatings, and others) and geography (APAC, Europe, North America, MEA, and South America). The talc market report also offers information on several market vendors, including Anglo Pacific Group Plc, Associated Soapstone Distribution Co. Pvt. Ltd., Elementis Plc, Haichen Minchem Co. Ltd., HAYASHI KASEI Co. Ltd., Imerys SA, IMI Fabi Spa, AIHAI, Minerals Technologies Inc., and Shandong Pingdu Talc Mine Industrial Co. Ltd. among others.
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Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The increase in demand from plastics industry is notably driving the talc market growth, although factors such as stringent regulations and adverse effects on health and environment may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the talc industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Talc Market Driver
One of the key factors driving growth in the talc market is the increase in demand from plastics industry. Talc is widely used in the plastic industry as fillers to enhance the properties of the plastics and polyolefin compounds (polypropylene). Talc is used in applications such as thermoplastic polymers of automotive, appliances (washing machines, dishwashers, and tumble driers), engineering polymers, semi-crystalline polymer nucleation, anti-blocking of polyethylene films, plastic recycling, and wood plastics composites. There has been a growing demand for the talc products in the lightweight automotive plastic parts. APAC is having the highest market share with countries like China and Japan having the highest consumption in this region. The presence of talc producing industries, as well as the growing plastics industries, has strengthened the position of APAC. From the pie-chart given above, it is quite evident that APAC has the largest market share of the global plastics market. So, the rapid growth of the plastic industry has been a key driver for the global talc market.
Key Talc Market Trend
The inorganic expansion and increase in mergers and acquisitions is a talc market trend that is expected to have a positive impact in the coming years. Major vendors in the talc market are increasingly relying on inorganic expansion for growth wherein they are either acquiring the operations of competitors or merging with the competitors to form a single business entity. Inorganic growth is preferred over organic growth in the talc business as the former gives an immediate gestation for investment while giving access to the existing customer base and distribution network of the acquired company. Vendors are opting for mergers and acquisitions to increase their global presence, expand their product portfolio, and achieve economies of scale in the manufacturing process. The increasing number of mergers and acquisitions is expected to contribute to the growth of the global talc market during the forecast period.
Key Talc Market Challenge
The stringent regulations and adverse effects on health and environment will be a major challenge for the talc market during the forecast period. Talcum powder in the cosmetics sector, which is made from talc, is capable of absorbing moisture and reduce the friction. So, it is widely used in baby powder, adult facial and body powders, and other consumer products. In natural form, talc contains asbestos, which causes lung cancer when inhaled. Long-term exposure to the natural talc powders mainly during working at the talc mine can cause a high risk of lung cancer. There have been instances of other health issues due to talc such as pulmonary issues, skin cancer, and ovarian cancer. Ovarian cancer is caused when the talc materials travel through the vagina, uterus, and fallopian tubes to the ovary. These materials also increase the risk of endometrial (uterine) cancer in women.
This talc market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.
Technavio categorizes the global talc marketas a part of the global commodity chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the talc market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the talc market encompasses successful business strategies deployed by the key vendors. The talc market is concentrated and the vendors are deploying organic and inorganic growth strategies to compete in the market.
Elementis Plc - The company offers talc for various end-user industries, including plastics, paints and coatings, food and pharma, and paper, among others.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The talc market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the talc market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the commodity chemicals market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Deposit type
Customer Landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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