Asia-Pacific Region will Continue to Drive Global Talc Market
Global talc market revenue is expected to cross the $1.6 billion mark by 2022.
Global talc market revenue is expected to cross the $1.6 billion mark by 2022, with a compound annual growth rate (CAGR) of close to 4.6%, according to a recent report from Beige Market Intelligence. Asia-Pacific is expected to contribute the most both in terms of revenue and volume consumption. The revenue of talc market in Asia-Pacific is forecasted to reach approximately $936 million, with a CAGR close to 5.4% over the next five years.
China dominates the production of white talc, remaining a competitive supplier of the product. India ranks among the leading five producers of talc and steatite stones. With an aggregate production capacity of greater than five lakh tons of talc, the country is a key exporter of the material.
The volume consumption of talc in Asia-Pacific is expected to surpass 4 million tons by 2022. Asia-Pacific remains as the key consumption region, representing as much as 55% of worldwide demand. Asia-Pacific also hosts more than half of the global talc trade in terms of volume. The demand for the mineral in the region is driven by consumption in rapidly growing end-user segments such as paints and coatings, ceramics, and plastics.
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