Talc Market

Global Talc Market Size (2024 to 2029)

The Global Talc market is predicted to reach USD 5.42 billion in 2024 and USD 7.67 billion by 2029, growing at a CAGR of 7.2% during the forecast period.

MARKET OVERVIEW

Talc is a mineral of clay composed of hydrated magnesium silicate. It occurs as foliate to fibrous masses and in a rare crystalline form. Talc, together with cornstarch, is a widely used substance, better known as baby powder. Talc can be used as a lubricant and thickening agent, which has applications in ceramics, painting, and roofing, besides being a crucial ingredient in various cosmetic products. The increased demand for talc from the automotive industry is the main driver of the sector. Lightweight plastic parts used in the automotive industry are made from talcum-reinforced polypropylene, which improves their performance and durability. Talc also increases resistance to abrasion and corrosion. In addition, the growing automotive refinishing market and booming market for OEM components for the automotive industry are expected to drive the growth of the talc market during the forecast period.

However, guidelines from different environmental protection agencies around the world to coordinate the production and use of talc in various end-use industries are expected to hamper the growth of the talc market. The growth of the pulp and paper industry has been held back in countries in North America and Europe compared to countries in the Asia-Pacific region, which is believed to limit the growth of the talc market. In addition, talc is being replaced by biotechnological solutions in applications such as pitch control in the pulp and paper industry. One of the latest trends in the growing talc market is the popularity of micronized talc and other quality ultra-fine products. Micronized talc contains less moisture and can be used as a filter in various industrial products. Micronized talc and other fine-quality products are the purest types of talc available for finished products. Micronization of talc is essential when high-purity ultrafine talc minerals are needed. This grade of talc finds wide application in personal care products, pharmaceuticals, and other food applications. Jet micronized and ultrafine talc products are also used in the production of specialty pulp and paper, which will contribute to the growth of this market.

MARKET DRIVERS AND RESTRAINTS

Continued advancements in technologies used in automobiles and increasing demand for lightweight auto parts have led automakers to replace metal components in automobiles with plastic and composite parts. The use of lightweight plastic and composite parts reduces the overall weight of vehicles, increasing their fuel consumption. These lightweight plastic parts are made from talcum-reinforced polypropylene, which improves performance and durability. Talc also provides resistance to abrasion and corrosion. In addition, the growing auto repair market and the booming OEM components market for the automotive industry are also supposed to drive the talc market growth around the world during the foreseen period. The growing population and increasing disposable income of the middle-class population in emerging economies have led to the augmented need for various types of consumer products, such as cosmetics, ceramics, plastic auto parts, and pharmaceuticals, which in turn, stimulates the growth of the global talc market. The expansion of manufacturing and service sectors in emerging economies are other drivers of worldwide talc market growth.

The rules from different environmental protection companies across the world to regulate the production and utilization of talc in multiple end-use industries are anticipated to restrain the growth of the talc market.

MARKET OPPORTUNITIES

The potential applications of talc are virtually endless, and continued R&D activities in the talc industry should help uncover new applications. R&D activities are carried out in the talc industry for the development of new qualities of talc for use in barrier coatings in food cartons for the food industry. Extensive research is underway to develop coating talc to improve the printability of gravure papers; low abrasion talc for the extrusion of polypropylene tubes; and dual-grade talc for the development of low volatile organic compound (VOC) coatings, among others. Therefore, there are great possibilities for the development of innovative grades of talc for use in the pulp and paper, and food industries. The Asia-Pacific region is a favorable destination for foreign investment due to the easy availability of raw materials and cheap labor. China and India are among the world's main producers of talc. The Asia-Pacific region is a major producer and exporter of talc in the world. Growth of pulp and paper, automotive, plastics, paint and coatings, cosmetics and personal care, ceramics, agriculture, and food industries, which are the main consumers of talc in the Asia-Pacific region, should provide opportunities to increase the talc market.

MARKET CHALLENGES

Thousands of lawsuits have been filed across the world against the use of talc in cosmetic products by people with ovarian cancer or mesothelioma after using these products. At the end of 2021, various juries around the world imposed penalties of more than $ 850 million in verdicts on manufacturers of talc-based cosmetics, such as baby powder, and companies that supply talc to end-consumer companies who manufacture these cosmetics. As a result, lawsuits against the use and production of talc have created the image that talc is a dangerous product, especially in the cosmetics industry. Talc producers and their end-use companies, however, have denied accusations against the carcinogenic nature of talc. Hence, lawsuits against the production and use of talc are challenges to the growth of the talc market globally.

REPORT COVERAGE

DETAILED SEGMENTATION OF THE GLOBAL TALC MARKET INCLUDED IN THIS REPORT

This research report on the global talc market has been segmented and sub-segmented based on deposit type, end-use, and region.

Global Talc Market By Deposit Type

• Talc Carbonate
• Talc Chlorite
• Other Talc Deposits

Depending on the type of deposit, the talc carbonate segment is anticipated to be the biggest in the talc market during the forecast period. Talc carbonate minerals are processed to extract associated minerals to produce pure talcum concentrate. Talc carbonate minerals are commonly found in ultramafic metamorphic rocks.

Global Talc Market By End-Use 

• Plastics
• Cosmetics & Personal Care
• Paints & Coatings
• Pharmaceuticals
• Others

Based on the end-use industry, the plastics segment is expected to be the largest industry in the talc market. Talc is used as an anti-stick agent in polyethylene and helps restore the mechanical properties of recycled plastics. In the automotive industry, the application of talc in polymer compounds makes it possible to stabilize the fenders and to develop panels that are very resistant to scratches.

Global Talc Market By Region

• North America 
• Europe 
• Asia Pacific
• Latin America 
• Middle East & Africa 

The Asia-Pacific region has dominated the global market share with increasing demand from countries like China, India, and Japan.

China has a huge market for plastics which require a large amount of talc to function. In China, talc is found in 16 provinces, with Liaoning, Shandong, Guangxi, Jiangxi, and Qinghai being the major regions accounting for over 92% of total reserves. China has stopped making its own pulp, leading to higher pulp prices, which is expected to hamper the growth of talc consumption in the country's pulp and paper industry. India is one of the few countries with reserves of white talc. Talc deposits are found all over the country. Most of the commercial talc production comes from Rajasthan.

The two main talc producers in the country (Golcha Group and Golcha Associated) are headquartered in Jaipur, Rajasthan, for the catering industry and high-quality talc polymer cosmetics. Apart from these producers, the country has several small producers who produce standard or low-quality qualities. The Japanese plastics sector is stable and balanced in terms of the production/demand ratio. The country's plastics exports consistently exceed the amount imported. It should be noted that trade is mainly done with Asian countries.

Europe is another potential region to show strong product demand during the outlook period due to the increasing growth of the automotive and domestic industries in the region. France, the United Kingdom, and Italy are the main consumers of talc in Europe.

KEY PLAYERS IN THE GLOBAL TALC MARKET

The major key players in the Global Talc market are Mondo Minerals, IMI FABI, Imerys, Minerals Technologies, Liaoning AIHAI, Jai Vardhman Khaniz, Haicheng Xinda Mining, and others

RECENT HAPPENINGS IN THE MARKET

• In May 2020, Amyris launched a safe alternative to talc-based baby powder following J&J's announcement. Baby powder without talc was launched under its brand Pipette baby.