DUBLIN--(BUSINESS WIRE )--The "Talc Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global talc market reached a value of US$ 2.54 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 3.37 Billion by 2027, exhibiting a CAGR of 4.83% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Talc is a mineral composed of hydrated magnesium silicate, which is used as an industrial raw material in powder form. It is a soft rock and widely used to make ornamentals and practical objects. In addition, it is used to design sculptures, bowls, countertops, sinks, hearths, and pipe bowls.
It increases the stiffness and heat resistance of polymers, such as polypropylene, vinyl, polyethylene, nylon, and polyester. It helps the liquid paint adhere to a wall without sagging by improving the suspension of solids in the container. As a result, it finds extensive applications in the pulp and paper, paints and coatings, plastics and rubber, food and beverage (F&B), personal care, and pharmaceutical industries.
At present, there is a rise in the demand for industrial and marine coatings, which provides several benefits, such as corrosion protection, solvent reduction, and good adhesion. This, along with the growing demand for thermoplastics in the aerospace industry due to low production time and overall costs, represents one of the key factors driving the market. Moreover, there is an increase in the utilization of talc to improve hardness, tensile strength, toughness, impact absorption, stability, and electrical insulation of plastics.
This, coupled with the increasing employment of talc in rubber manufacturing to provide bounce property to the rubber, is propelling the growth of the market. In addition, the rising demand for talc in the automotive industry to modify several polymeric matrixes used in automobile production is offering lucrative growth opportunities to investors. Besides this, key market players are extensively investing in research and development (R&D) activities for the development of new grades of talc and to cater to the requirements of customers, which, in turn, is positively influencing the market.
Key Questions Answered in This Report:
6 Market Breakup by Deposit Type
8 Market Breakup by End Use Industry
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900