North America Talc Market to Grow at a CAGR of 4.2% to reach US$ 293.24 million from 2022 to 2030

The North America talc market is expected to grow from US$ 211.23 million in 2022 to US$ 293.24 million by 2030; it is expected to register a CAGR of 4.2% from 2022 to 2030.

MARKET ANALYSIS

Talc is a hydrated magnesium silicate. Talc deposits are formed from the transformation of high magnesium rocks by siliceous hydrothermal fluids. Most of the talc originates from the alteration of dolomite or ultramafic intrusive rocks. It is always found in combination with other minerals. Carbonates and chlorite are the most common associated minerals. Each talc deposit has a unique morphology and mineralogy. All types of talc exhibit unique properties such as softness, water repellency, chemical inertness, platyness, and an affinity for organic substances. These properties make talc suitable as a multi-functional filler and process enabler in an array of applications from plastics to paper and ceramics to paint. Talc is used as an anti-sticking agent, anti-caking agent, lubricant, a carrier, a thickener, a strengthening filler, a smooth filler, and an adsorbent. The major driver for the growth of the North America talc market is the growing demand from various end-use industries such as ceramics, plastics, paints & coatings, food, and agriculture. The ceramics segment is the most attractive segment and creates lucrative opportunities in the North America talc market. The plastics industry is another essential consumer of talc. Talc is mainly used as a filler in plastics. The platy shape of talc particles can increase the hardness of products such as polypropylene, vinyl, polyethylene, nylon, and polyester. It can also increases the heat resistance of these products and reduce shrinkage. An increasing use of talc in the plastics industry will offer more opportunities for North America talc market growth.

GROWTH DRIVERS AND CHALLENGES

Talc is commonly used in the pulp & paper industry as a pitch control agent, coating pigment, and functional filler. It helps enhance the runnability of a paper machine. Talc is used to recycle paper and produce new paper, pulp, and cardboard. The properties of talc prevent pitch agglomeration within the production machine. Talc is used as a filler to give smoothness, porosity, and opacity to paper. Also, in paper production, talc use enhances the quality of finished products and reduces production costs. Various countries in North America are major pulp & paper producers. According to the World Wildlife Fund Inc., the US is the world's second-largest paper producer and consumer country. The demand for paper packaging is increasing in various sectors. Quick service restaurants (QSR) and fast-food restaurants are among the largest users of paper packaging products. The demand for paper and paper packaging is growing in North America due to a number of factors, including the increasing popularity of e-commerce and the rising demand for food & beverage packaging. The growing paper & pulp industry propels the demand for talc, which drives the North America talc market growth.

However, talc is mined from the earth. It may contain asbestos, which is a highly toxic substance. Asbestos is found underground, and its veins can often be found in talc deposits, leading to a risk of cross-contamination. Thus, there are high chances of asbestos-contaminated talc present in different products. Long-term exposure to asbestos can increase the risks of cancers, particularly mesothelioma (lung cancer), ovarian cancer, and laryngeal cancer. Amid increasing health concerns and growing consumer awareness, cosmetics manufacturers are shifting toward making talc-free and corn-starch or natural ingredient-based products. These factors could limit the North America talc market growth.

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REPORT SEGMENTATION AND SCOPE

The " North America Talc Market Forecast Analysis to 2030" is a specialized and in-depth study with a major focus on the North America talc market trends and growth opportunities in North America. The report aims to provide an overview of the North America talc market with detailed market segmentation by deposit type and end use industry. The North America talc market has witnessed high growth recently and is expected to continue with this trend during the forecast period. The report provides key statistics on the consumption of talc in North America. In addition, the report provides a qualitative assessment of various factors affecting the talc market performance in North America. The report also includes a comprehensive analysis of the leading players in the North America talc market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter's five forces analysis provide a 360-degree view of the North America talc market, which helps understand the entire supply chain and various factors affecting the North America talc market growth.  

SEGMENTAL ANALYSIS

The North America talc market is segmented based on deposit type and end-use industry. Based on deposit type, the North America talc market is segmented into talc chlorite and talc carbonate. On the basis of end-use industry, the North America talc market is categorized into plastics, pulp & paper, ceramics, paints & coatings, rubber, pharmaceuticals, food, and others. The ceramics segment accounted for a significant share of the North America talc market. Talc can be used in several applications in the ceramic sector. It is used to manufacture ceramics products such as bathroom fixtures, pottery, ceramic tile, and dinnerware. Talc improves the firing characteristics and strengthens the finished product. Therefore, it is used as a filler in automotive cordierite, several tiles, and fireproof ceramics. Talc is a catalyst in the ceramic industry and has a high-temperature resistance. Adding talc enhances the mechanical and optical properties of the ceramic material and glazes, and the combustion temperature is reduced. These benefits positively impact the production costs of ceramics. These factors are anticipated to bolster the use of talc in ceramics production during the forecast period.

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REGIONAL ANALYSIS

The North America talc market is segmented into US, Canada, and Mexico. The market in the US was estimated to be ~US$ 150 million in 2022. The US, one of the key economies in North America, contributes significantly to the growth of the talc market. High disposable income, coupled with a shift in consumer lifestyle, attracts consumers to invest in new construction projects and improve the existing structures. According to the Associated General Contractors of America (AGC), construction is a major contributor to the US economy. According to the US Census Bureau, spending on building and construction in public and private sectors of the US in January and February 2022 amounted to US$ 237.8 billion, reporting a growth of 10.4% compared to the same period in 2021. In the US, the plastics industry is the sixth largest industry. According to the US Bureau of Labor Statistics, in 2021, the plastic & resin manufacturing industry was valued at US$ 74 billion. Increasing construction activities and growing plastic manufacturing industry are likely to propel the growth of the talc market in the US from 2022 to 2030. Canada is expected to register a CAGR of approximately 4.0% from 2022 to 2030. Canada’s pulp & paper industry is a significant contributor to talc demand. Talc is used as a filler and coating material in paper production, improving properties such as opacity, smoothness, and printability. As the Canadian pulp & paper sector maintains its commitment to producing high-quality paper products for both domestic and international markets, the demand for talc as a vital ingredient remains strong. The cosmetics & personal care industry in Canada also relies on talc. Talc’s soft, smooth texture and oil-absorbing properties make it a common ingredient in cosmetics such as powders, foundations, and skincare products. Mexico is forecasted to be valued at around US$ 30 million in 2030. Mexico’s plastics and automotive industries play a significant role in the growth of the talc market. According to the International Trade Administration, the automotive sector is one of Mexico's most important sectors, comprising 20% of the nation's GDP and employing over one million people nationwide. Talc serves as a reinforcing filler in plastics, enhancing their mechanical properties and contributing to lightweight and improved fuel efficiency in vehicles. All these factors drive the North America talc market growth in Mexico.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

The report provides a detailed overview of the North America talc market.

In February 2021, Magris Resources Canada Inc. announced to have entered into a definitive stalking horse agreement to acquire substantially all the assets of Imerys Talc America Inc., Imerys Talc Vermont Inc., and Imerys Talc Canada Inc.

IMPACT OF COVID-19 PANDEMIC

The North America talc market witnessed growth before the onset of the COVID-19 pandemic due to the increased use of talc in the cosmetics, plastics, automotive, construction, and pulp & paper industries. However, the pandemic adversely affected the chemicals & materials industry, resulting in the shutdown of manufacturing facilities, challenges in procuring raw materials, and restrictions on logistic operations. The unprecedented rise in the number of COVID-19 cases across the country and the subsequent lockdown of numerous manufacturing facilities negatively influenced the growth of the North America talc market. Further, the overall disruptions in manufacturing processes, research, and development activities restrained the North America talc market growth.

Moreover, the severely decreased manufacturing activities reduced the demand for talc in North America. However, the North America talc market began to revive in 2021, as governments of various countries in the region took significant measures, such as well-coordinated vaccination drives. The resumption of business activities in construction, automotive, pulp & paper, personal care & cosmetics, and other industries gradually boosted the demand for talc in 2021.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

The key players operating in the North America talc market include SCR-Sibelco NV, Mineral Technologies Inc, Liaoning Aihai Talc Co Ltd, Golcha Mineral Pvt Ltd, Elementis Plc, and IMI Fabi SpA.

North America Talc Report Scope