Global SEA and MEA Talc Market Size By Product(Talc-Carbonate and Talc-Chlorite), By Application(Plastic & Polymer, Paints & Coatings, Pulp and Paper), By Geographic Scope And Forecast
Report ID: 279558|No. of Pages: 202
Global SEA and MEA Talc Market Size By Product(Talc-Carbonate and Talc-Chlorite), By Application(Plastic & Polymer, Paints & Coatings, Pulp and Paper), By Geographic Scope And Forecast
SEA and MEA Talc Market Size And Forecast
SEA and MEA Talc Market size was valued at USD 145.34 Million in 2021 and is projected to reach USD 182.35 Million by 2030, growing at a CAGR of 2.63% from 2023 to 2030.
The growing population and increasing disposable income of the middle-class population of emerging economies have led to the increased demand for various consumer products, such as cosmetics, ceramics, automotive plastic parts, and pharmaceuticals, which in turn, is driving the growth of the market. The Global SEA and MEA Talc Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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What is SEA and MEA Talc?
Talc is known to mankind since ages. It is a natural mineral that is mined from the earth and consists of magnesium, silicon, oxygen and hydrogen. Talc is a hydrous magnesium silicate, with the chemical formula Mg3Si4O10(OH)2. Talc has no smell. In addition to weak acids and alkalis, it is insoluble in water. Despite having a strong affinity for some organic compounds, talc typically exhibits very little chemical reactivity. It is neither flammable nor explosive. Due to its resistance to heat and electricity and resistance to absorption of acids, oil, and grease, it is very widely demanded by several industries. Its characteristics are the softness of the mineral, capability of retaining the fragrances, purity, and white color.
It is utilized in a variety of cosmetic and personal care products. It can be used, for example, to wick away moisture, stop caking, make face cosmetics opaque, or enhance product feel. Paper, plastics, paints and coatings (such those used on metal moulds), rubber, food, electrical cables, pharmaceuticals, cosmetics, and ceramics are just a few of the numerous areas where talc is used. Naturally, talc is obtained in the form of Steatite, often known as soapstone, in a coarse, grey-green rock with a high talc content that is used for electrical panels, slabs, and other things. Surfaces for lab tables and switchboards are frequently constructed with this material because of its resilience to heat, electricity, and acids. Additionally, it is utilized in medicinal items as a preservative or as a food ingredient. Talc is a substance that is used in medicine during pleurodesis to stop recurrent pneumothoraxes or pleural effusions.
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SEA and MEA Talc Market Overview
The market for talc is penetrating in the South East Asia and Middle East & Africa is growing on the grounds of soaring demand from end-user industries. The automotive industry is creating high demand for the talc market in these geographies. More specially, in Middle East & Africa region is undergoing transformation, driven by the development of sustainability policies, the advancement of new technologies, and changing consumer preferences around ownership of vehicle. The ongoing industrialization in the Southeast Asian economies such as Thailand, Malaysia among others is contributing in the market growth in 2021. The growing population and increasing disposable income of the middle-class population of emerging economies have led to the increased demand for various consumer products, such as cosmetics, ceramics, automotive plastic parts, and pharmaceuticals, which in turn, is driving the growth of the talc market.
The talc is gaining more demand from the construction sector as there are significant initiatives and investments in the construction sector in Middle East & African market. Ongoing strategies of the GCC nations of shifting their focus from oil & gas industries to other sector is contributing in the growth of construction sector. For instance, With Kuwait Vision 2035 in mind, the necessity to develop environmentally friendly and sustainable buildings with high-performance and energy-efficient façades is becoming more apparent. Also, increasing usage of talc in personal care and cosmetic applications. It is an ingredient used in personal care products such as loose powders (e.g., talcum powder, baby powder, blush, eyeshadow) and other forms.
Despite of several advantages and strong demand from the end-user industries, the risk associated with talc in combination with stringent government regulations hampers the adoption of Talc. Studies revealed that usage of talc is linked to asbestosis, mesothelioma, and lung cancer.
SEA and MEA Talc Market: Segmentation Analysis
The SEA and MEA Talc Market is segmented on the basis of Type, Application, and Geography.
SEA and MEA Talc Market by Type
- Talc-Carbonate
- Talc-Chlorite
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Based on type, the market is bifurcated into Talc-Carbonate and Talc-Chlorite. The Talc-Carbonate segment is accounted for the largest market share in 2021 and is projected to grow at the CAGR of 3.43% during the forecast period. Talc carbonates are a collection of rocks and mineral compounds found in metamorphic ultramafic rocks. The term refers to two common terminal minerals found in ultramafic rocks that have undergone carbonization or talc carbonization reactions: talc and the carbonate mineral magnesite.
SEA and MEA Talc Market by Application
- Plastic & Polymer
- Paints & Coatings
- Pulp and Paper
- Ceramic
- Cosmetics & Personal Care
- Food and Beverage
- Pharmaceuticals
- Others
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Based on Application, the market is bifurcated into Plastic & Polymer, Paints & Coatings, Pulp and Paper, Ceramic, Cosmetics & Personal Care, Food and Beverage, Pharmaceuticals and Others. The Plastic & Polymer segment is accounted for the largest market share in 2021 and is projected to grow at the CAGR of 2.47%during the forecast period. The Paints & Coatings is anticipated to show rapid growth rate in the years to follow.
The plastics and polymers are growing due to increasing usage of talc in plastics and polymers that effectively fill certain spaces in polymer composites that increases their hardness and impact resistance. Increasing demand for rigid plastics and polymers in automotive, aerospace, food and pharmaceutical packaging and other application areas is contributing its growth.
SEA and MEA Talc Market by Geography
- Southeast Asia
- Middle East & Africa
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Based on regional analysis, the SEA and MEA Talc Market is classified into Southeast Asia and Middle East & Africa. Southeast Asia is further broken down in Thailand, Malaysia and rest of Southeast Asia. The Middle east & Africa is classified into UAE, Saudi Arabia and rest of Middle east and Africa. The Southeast Asia accounting for significant share in the SEA and MEA talc market in 2021. This is attributed to the growing demand from emerging economies, rising industrialization rates, and increasing disposable income. Rapid industrialization in developing economies such as Thailand and Indonesia is pushing the growth of the talc market, as talc is used in various end-use industries for several applications.
Key Players
The major players in the market are Imerys S.A., Minerals Technologies Inc., Elementis Plc., Mitsubishi Chemical Holding Group, Liaoning Aihai Talc Co Ltd, Associated Soapstone Distribution Co. Pvt. Ltd., IMI Fabi Spa, Liaoning Xinda talc group, Nippon Talc, PT Talc Indonesia, Flexicon Corporation, Nissei Corporation and Others.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2019-2030 |
| BASE YEAR | 2022 |
| FORECAST PERIOD | 2023-2030 |
| HISTORICAL PERIOD | 2019-2021 |
| UNIT | Value (USD Million) |
| KEY COMPANIES PROFILED | Imerys S.A., Minerals Technologies Inc., Elementis Plc., Mitsubishi Chemical Holding Group, Liaoning Aihai Talc Co Ltd, Associated Soapstone Distribution Co. Pvt. Ltd., IMI Fabi Spa, Liaoning Xinda talc group, Nippon Talc, PT Talc Indonesia, Flexicon Corporation, Nissei Corporation and Others. |
| SEGMENTS COVERED | By Product, By Application, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
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Data Collection Matrix
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Industry Analysis Matrix
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