Stringent governmental regulatory frameworks pertaining to CO2 emissions, and concerns regarding fuel efficiency have compelled automotive manufacturers to develop lightweight vehicles. According to the International Energy Agency, transportation is accountable for one-fourth of direct CO2 emissions from fuel combustion as of 2018. The further analysis stated that road transport had a dominant share of nearly 75% of the overall emissions sourced by the transport sector that includes air and water transport as well. Such epidemic ecological circumstances have instigated the usage of lightweight materials to decrease the overall weight of vehicles. The demand for lightweight vehicles has impelled the manufacturers to replace metal components in vehicles with plastic parts. This transition is initiated, knowing the fact that plastics provide a benefit of making vehicles lighter, thereby enhancing fuel efficiency and cutting greenhouse gas emissions. These lightweight plastic parts are made from talc-reinforced polypropylene plastic and engineering thermoplastic, which enhances their performance and durability. Moreover, talc, a clay mineral composed of hydrated magnesium silicate, plays a significant role in enhancing the abrasion resistance, dimensional stability, stiffness, rigidity, corrosion resistance, chemical resistance and impact resistance of plastic parts. This has majorly accelerated the demand for talc, and the market is poised to create new opportunities for itself in the coming future. Moreover, major governmental initiatives and enforcements such as California Air Resources Board Zero-Emission Vehicle Mandate, Federal Emissions Standards by the US Environmental Protection Agency (EPA), and Corporate Average Fuel Economy (CAFÉ)-United States are mandating innovations in the automotive industry to accomplish fuel economy and decrease the share of carbon footprints from the automotive sector. Such developments are eventually bolstering the demand for lightweight automotive fleet, thereby augmenting the global talc market size.
The Global Talc Market size is evaluated to be $3 billion as of 2018. Moreover, the increasing demand for talc from end-user industries across the world is poised to propel the market at a CAGR of 5.1% during the forecast period 2019-2025.
End-use Industries Enticing Earnings to the Talc Market—
Owing to various functionalities of talc in different end-user industry applications, the talc market is projected to grow exponentially. For instance, in the paper mill industry, talc is used as a coating agent to enhance the runnability of offset papers and the quality of finished papers. It also finds its usage in improving the quality and productivity of colored papers and labels. In the cosmetic industry, it plays an important role in many products such as eye shadows, lipsticks, deodorants, soaps, carriers, and blushes owing to its chemical inertness. It is used as a lubricant and is extensively used as a body powder. In the pharmaceutical and medical industry, the talc is used as a glidant and pleurodesis agent to prevent pneumothorax or recurrent pleural effusion. In the agriculture industry, owing to its anti-caking and dispersing agent properties, it is used in fertilizers. Moreover, talc is used as an additive in the food industry. Therefore, the growing demand for talc from various end-use industries is responsible for the growth of the talc market.
Plastic Industry and the Prospects for Talc Market—
On the basis of application, the talc market is segmented into cordierite ceramics, food, paints, coatings, paper, lubricant, anti-sticking agent, personal care, pharmaceuticals, plastics, polyester putties, and others. Among these, plastics are considered to be the most lucrative application segment that is alluring maximum revenues in the market. This is attribute to the fact that talc is used as a reinforcing filler agent in various plastic materials, including polypropylene, and thermoplastics. Moreover, it is used as an anti-blocking agent in polyethylene, nucleating agent in biopolymers and semi-crystalline polymers, and furthers helps restore the mechanical properties of recycled plastics. In general, it enhances the modulus of elasticity, impact resistance, color consistency, scratch resistance, creeps strength, and low abrasion in plastic materials. Wherein, it is clear that, in the modern wave of industrialization, plastic has secured unparalleled venues of application. Owing to its lucrative traits such as lightweight and flexible, and abundant availability of its feedstock, plastic has found an immense scope of production and employment in a wide range of industrial applications. The enormous growth in the plastic industry can be easily fathomed from the trade values provided by International Trade Council (ITC), according to which, the import value of plastics and articles thereof, was $663 billion, in 2018 with an annual growth rate of 9% during 2017-2018. Thus, the key application, plastics, is posed to propel at a standard CAGR of 3.8% through to 2025.
APAC Region Portrays Better Economic Rationale for the Talc Market—
Geographically, APAC held the majority share in the global talc market with a demand share of 41% in 2018, and it is expected to secure its dominance during the forecast period. The key factor responsible for APAC’s dominance is the affluent end-user industries, including construction, automotive, cosmetics, ceramic, food, and plastics in the emerging economies such as India, China, and Japan. The rapidly increasing urban population along with the rising disposable income is creating massive demand for end-use products, thereby fuelling the growth for the talc market. Moreover, on the back of technological advancements, continuous research and development activities are being carried out in the talc industry, which is further creating growth opportunities in this region. For instance, researches are being carried out to develop new grades of talc for use in barrier coatings in paperboard food packaging; coating talc to improve the printability of rotogravure papers; low abrasion talc to carry out polypropylene pipe extrusions; and double-classified talc to produce low Volatile Organic Compound (VOC) coatings, among others. Additionally, the presence of talc reserves in the countries, like India, is contributing significantly to the growth of the regional market. According to the Indian Minerals Yearbook 2018, polished by Indian Bureau of Mines (IBM), the total reserves and resources of talc were estimated to be 316 million tons of which reserves and remaining sources are 106 million tons and 209 million tons respectively. Moreover, China is the largest marketplace for the plastics industry that requires a high supply of talc to function. The plastic import value in China, in 2018, was around $75 billion, representing 9% growth year on year, according to ITC. Hence, the aforementioned factors are considered to aid the Asia-Pacific region to emerge as a key marketplace in the global talc market during the forecast period.
Talc Market Company’s Strategies—
Major companies that are crusading for setting their footprint in the global talc market are IMI FABI, Imerys, Mondo Minerals, Liaoning AIHAI, Jai Vardhman Khaniz, Minerals Technologies, American Talc Company, Haicheng Xinda Mining, Nippon, HuaMei Development, and Guilin Guiguang. These companies are extensively involved in adopting key strategies such as new product innovation, acquisitions, partnerships, and expansions to stay ahead of their competitors and gain a competitive edge in the market.
· In March 2017, IMI Fabi, a specialized producer of talc, has completed the acquisition of Sibelco’s talc unit in Uikhoven, Belgium. Moreover, in July 2016, the company acquired the RHI Magnesita talc business unit located in Bahia, Brazil. These acquisitions are intended to help IMI Fabi improve its product portfolio of talc products and expand its presence in the global market.
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