Talc Global Market Report 2024

The talc market size has grown strongly in recent years. It will grow from $9.57 billion in 2023 to $10.52 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The expansion observed in the historical period can be attributed to factors such as the growth in the cosmetics and personal care industry, manufacturing of plastics and polymers, activities in the paper and pulp industry, applications in ceramics and paints, and utilization in the pharmaceutical sector.

The talc market size is expected to see strong growth in the next few years. It will grow to $14.91 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period can be attributed to the increasing demand in the cosmetics industry, rising requirements in plastics and polymers manufacturing, the growing paper and pulp industry, expanding applications in ceramics and paints, and innovations in the pharmaceutical sector. Noteworthy trends expected in the forecast period include a heightened focus on talc in the paper and pulp industry, increased utilization of talc in ceramics and refractories, the application of talc in agriculture for crop protection, a shift towards talc alternatives in cosmetics, and a global emphasis on regulatory compliance in talc products.

The talc market is experiencing growth due to increased sales in rapidly developing countries such as China and India, attributed to the rising disposable income and greater availability of credit. According to the Bureau of Statistics of China, Disposable Personal Income in China reached 47,412 CNY in 2021, indicating a notable increase. Consequently, the upsurge in disposable income is a key driver of the talc market.

Anticipated growth in the pharmaceutical industry is poised to further propel the talc market. The pharmaceutical industry, engaged in the discovery, development, production, and commercialization of drugs and medications, utilizes talc to reduce friction between powder particles during tablet compression. This facilitates the flow of powder particles, ensuring consistent tablet formation and preventing issues such as sticking or capping. In October 2022, Statistics Canada reported a 2.8% increase in sales within the personal and household goods subsector, primarily driven by a 3.9% growth in the pharmaceuticals and pharmacy supplies industry, reaching $6.4 billion. This marked the highest level since January 2022. Hence, the growing pharmaceutical industry is a significant factor driving the talc market.

Major companies in the talc market are opting for a strategic partnership approach. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits and success. An illustration of this strategy is the partnership between NewLeaf Symbiotics, a US-based agriculture company, and Talc USA, a US-based provider of agricultural products. This collaboration aims to deliver NewLeaf's proprietary microbial technology and a micronutrient-enhanced 80/20 talc + graphite blend to farmers, streamlining the application process and providing efficiency gains for farmers.

Major companies operating in the talc market report are Imery SA, SCR-Sibelco NV, Minerals Technologies Inc., HZM Corp., Nippon Talc Co. Ltd., Elementis PLC, R.T. Vanderbilt Holding Company Inc. - gouverneur talc, Petrovietnam Chemical and Services Corporation, 20 Microns Limited, Burgess Pigment Company, Ashapura Minchem Ltd., Golcha Group, Mondo Minerals, Magris Performance Materials, Eurominerals Ltd., ANAND TALC, IMI Fabi SpA, Haichen Minchem Co. Ltd., Jai Group, Shri Vinayak Industries, Sun Minerals Pvt. Ltd., Xilolite SA, AKJ MinChem Pvt. Ltd., Chanda Minerals, LITHOS Industrial Minerals GmbH, Ashirwad Minerals & Marbles, Liaoning Aihai Talc Co. Ltd., Oriental Talc Pvt. Ltd., Shivam Multi Microns LLP, Pingdu talc mining Co. Ltd.

Eastern Europe was the largest region in the talc market in 2023. The regions covered in the talc market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the talc market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The talc market includes revenues earned by entities by providing mining services such as conventional drilling and blasting methods. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The primary types of talc are talc chlorite, talc carbonate, and other variations of talc. Talc chlorite is a hydrated magnesium sheet silicate with the chemical formula Mg3Si4O10(OH)2. The fundamental sheet structure comprises a layer of magnesium-oxygen/hydroxyl octahedra situated between two layers of silicon-oxygen tetrahedra. Talc deposits can be categorized into talc carbonate and talc chlorite. End-users of talc span various industries, including plastics, pulp and paper, ceramics, paints and coatings, cosmetics and personal care, pharmaceuticals, food, and other sectors. The mining methods for talc extraction encompass both underground mining and surface mining.

The talc market research report is one of a series of new reports that provides talc market statistics, including talc global industry, regional shares, competitors with a talc global market share, detailed talc market segments, market trends and opportunities, and any further data you may need to thrive in the talc industry. This talc global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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