The increasing demand for Talcum products in the automotive industry owing to the rise in demand for consumers and growth in population and urbanization are propelling the market growth.
The Global Talc Market is forecast to reach USD 4,238.8 Million by 2028, according to a new report by Reports and Data. These clay minerals are unique materials that are used in paper manufacturing, ceramics, paints coating and cosmetic industry for various purposes such as for manufacturing papers, food additive, Talcum powder, sinks, and many other products.
The market for such minerals is influenced by rise of industries due to urbanization. The rising applications of Talcum products are boosting the market of such clay minerals. The cosmetic and beauty products manufacturing sector is depended on this market for the manufacturing of cosmetic Talcum powder. The lawsuits which are filed against the use and production of Talcum are acting as a market restraint.
The factors mentioned above jointly create opportunities for the market growth while factors such as critical effects of Talcum manufacturing add limitations in the market. However, each element would have a specific impact on the market during the forecast period. Consistent developments in the market for mineral clays used for industrial purposes owing to innovative efforts have improved the efficiency of Talcum.
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Scope of the Report:
The study aims to evaluate different segments, their individual development trends, and their contribution towards the growth of the overall industry. Furthermore, the research offers extensive data about the key factors such as the drivers, challenges, restraints and opportunities and their impact on the growth rate. Most importantly, the market intelligence report delivers competitive intelligence data from market evaluation and help companies plan their growth strategies from the consumption volume as well as forecast statistics.
Further key findings from the report suggest
- The Talc carbonate segment is forecasted to witness the highest CAGR of 5.1% during the forecast period. This segment is rising since this mineral ores are processed in order to remove related minerals to manufacture pure Talc concentrate.
- Talcum powder segment held the largest market share of 54.9% in the year 2018. China became the largest consumer of this segment owing to the ever-growing construction and fashion industry along with the plastics manufacturing industry in this region because of the growing urbanization and industrialization. China became a leader in the world for production and consumption of Talc powder products because of its low-cost labor, and the rise in urbanization with expanding economy compared with other countries.
- Asia Pacific is expected to witness the highest CAGR of 5.8% during the forecast period. Countries like India, China, Taiwan, Indonesia, and Japan are rapidly catching up with the growth in the Talc market. The countries in this region have undertaken various measures towards the construction project, which are propelling the market growth.
Leading companies operating in the market and profiled in the report include:
- Mondo Minerals,
- IMI Fabi,
- Golcha Minerals,
- Minerals Technologies,
- Nippon Talc,
- Liaoning Qian He,
- Guangxi Longguang,
- Johns Manville,
- Longsheng Huamei,
- and Xilolite,
- among others.
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Talc Market Segmentation:
- Talc Powder
- Talc Lump
- Pulp Paper
- Plastic Industry
- Paints Coatings
- Cosmetics Personal Care
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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