Talc Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1498
Talc Market size is anticipated to witness a surge in demand due to growing opportunities in the paper, plastic and coating applications. The major driving factors for the growth of this industry are increasing usage of paints and coatings in construction and industrial sectors and growth in demand of plastics in automotive. It plays a substantial role in increasing the creep resistance, thermal conductivity, stiffness, rigidity, chemical resistance and impact resistance in automotive, electrical & electronic, household appliances and engineering plastics materials.
It is a soft mineral chemically composed of silica, water and magnesium. The basic chemical composition is hydrated magnesium silicate and is significant industrial and commercial mineral. Its chemical formula remains close to this basic composition but also shows variations in the structure owing to the substitution of magnesium with other elements. It has wide applications as an industrial mineral owing to its resistance to heat, acids and electricity and grease & oil adsorption. It has broad commercial usage due to its softness, fragrance retention, luster, whiteness and purity.
Talc is the softest known mineral and possesses a rating of 1 on the Mohs hardness scale, which is the lowest in all the known minerals. It can be easily scratched by a fingernail and can be smoothly cut into pieces by a knife. It has clear luster and takes a specific gravity ranging from 2.5 top 2.8. It is insoluble in water and is slightly soul be in dilute mineral acids. It is a metamorphic in nature which occurs due to magnesium metamorphism with amphibole, olivine, pyroxene and serpentine in presence of water and CO2. It has a tri-octahedral layered structure similar to pyrophyllite.
Based on deposit type, talc market is majorly dominated by talc carbonate and is expected to be the fastest growing segment over the forecasted period. Through various researches, it found to possess higher purity rates compared to any other deposit types.
Plastics is the fastest growing segment among all applications in the industry. High demand of talc in plastics industry comes due to its superior property be reinforcing filler. It increases the product impact resistance, conductivity and rigidity. It is chiefly applied in production of household appliances and automobile parts. Pulp & paper application segment also holds promising futuristic demand owing to broad applications in paper, offset paper and color paper sectors.
Asia Pacific is the largest market with its growing manufacturing and infrastructural expansion. Almost all the large chemical and mineral manufacturing companies has presence in the region due to leverage upon cheap production facilities. High demand of mineral is driven by the consumption in fast growing end use industries including plastics, ceramics and costings. China, India, South Korea, Japan and Bhutan are the major markets in the region. Among these, China is the leader in the production of white talc and is the tough competitive product supplier to other countries.
Europe are other potential regions to showcase high product demand during the forecasted period due to escalating growth in automotive and household industry in the region. France, UK and Italy are key consumer of talc in Europe.
Some of the key industry players include Mondo Minerals, IMI FABI, Imerys, Minerals Technologies, Liaoning AIHAI, Jai Vardhman Khaniz and Haicheng Xinda Mining.
Other prominent players are American Talc Company, Nippon, Guilin Guiguang , HuaMei Development, Golcha Minerals, Hayashi-Kasei, Nippon, Magnesita, BeiHai Group, Liaoning AIHAI, Xilolite, Hayashi-Kasei, Pingdu Mine Industrial, Liaoning Qian He, Guangxi Longguang, Longsheng Huamei, Haicheng Tianhe Chemistry Industry, and Specialty Minerals.
In 2016, Brazil based Magnesita Refratarios sold its talc business to Italian talc manufacturer, IMI Fabi. This strategy was associated with the company’s continuing expansion planning. the operations concerned with this deal is one of the world’s largest white talc reserve, including various manufacturing plants, vital research centers and highly innovative product portfolio.
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