Talc is the softest known mineral and is chemically made of water, magnesium, and silica. It has a clear luster and is metamorphic. The ubiquitous application of talc across various end-users such as paints and coatings, food and beverage, pharmaceutical, personal care, pulp and paper, etc. may bring promising growth prospects for the global talc market during the forecast period of 2020-2030.
Based on deposit, the talc market can be segmented into talc carbonate, talc chlorite, and others. The properties of talc such as softness, fragrance retention, purity, and whiteness may bring tremendous growth prospects for the talc market during the assessment period. The rising applications of talc in a plethora of applications may prove to be a boon for the growth of the global talc market.
This report on the talc market enlightens the stakeholders and CXOs about the recent developments and the current scenario. The changing market dynamics have been presented in the report in a detailed and precise manner so that the stakeholders can grasp every point without any difficulty and take steps accordingly.
The report also contains details about the COVID-19 impact on the talc market and the vital threats that the talc market may face between 2020 and 2030.
The talc market is consolidated. A few prominent players in the talc market are responsible for acquiring a large growth share. The players in the talc market are involved in production expansion. This helps the players to meet the rising demand for talc seamlessly. The players are also involved in activities like mergers, acquisitions, joint ventures, partnerships, and collaborations. These activities help the players to garner influence across the talc market, eventually leading to increased growth prospects.
Some well-established players in the talc market are Xin Talc, Aihai Talc, Guiguang Talc, Nippon Talc, Mondo Minerals, Minerals Technologies Inc, Golcha Group, Haumei Talc, the Jai Group, American Talc, and IMI FABI.
As soon as the novel coronavirus cast its ugly shadow across the globe, a spate of disruptions and tremendous losses were observed. The COVID-19 pandemic changed the dynamics of almost every sector. The SARS-CoV-2 outbreak has hurt nearly every sector. The talc market is no exception. Due to the increasing transmission rates, numerous countries imposed stay-at-home orders for all its citizens. This led to massive losses and also impacted the global fabric of the economy.
During the strict lockdown period, manufacturing units and production facilities were also shut. This led to decreased production. Thus, this factor negatively influenced the growth rate of the talc market. To add to the woes, the demand for talc reduced considerably due to almost no production activity across other end-users.
Nonetheless, many countries are now introducing relaxations in lockdown and have allowed the companies to operate with proper SOPs in place. This aspect may help the talc market to regain its lost growth. Barring this short-term negative impact on the growth of the talc market, the forecast period looks promising.
The talc market in Asia Pacific may invite expansive growth prospects across the forecast period of 2020-2030 on the back of the increasing demand for talc from densely populated countries like China and India. Easy availability of raw materials and affordable labor are other prominent factors that help in laying a red carpet of growth across the talc market in Asia Pacific.
The extensive growth of industries like paper, plastics, paints and coatings, agriculture, ceramics, and other industries across the region where talc is used on a large scale may serve as a significant growth multiplier for the talc market in Asia Pacific.
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