Thailand Talc Market Analysis and Size
Thailand talc market is expected to grow significantly in the forecast period of 2022 to 2029. Data Bridge Market Research analyses that the market is growing with a CAGR of 1.7% in the forecast period of 2022 to 2029.
The Market Dynamics of the Thailand Talc Market Include:
Drivers
Extensive applications in producing lightweight plastics for automotive components
There has been increasing demand for talc from the automotive industry due to its growing applications in manufacturing under hood automotive parts. This augmented demand for talc from the automotive industry is driving the market growth. The lightweight plastic parts used in the automotive industry are produced from talc-reinforced polypropylene, which improves their performance and durability. Moreover, talc extends resistance against abrasion and corrosion. Apart from this, the increasing demand for automotive refinishes and OEM components for the automotive industry are expected to drive the growth of the talc market shortly. In addition, rapid development and industrialization in economies such as Indonesia are propelling the demand for more automobiles, which will further boost the growth of the talc market in these regions.
Rapid industrialization and surge in disposable income of the middle-class population of emerging economies
With the increasing demand from emerging economies, rising industrialization rates, and increasing disposable income, especially in middle-class population, there has been a growing demand for finished products such as automobiles, paints & coatings, and many others. Rapid industrialization in emerging economies such as Thailand and Indonesia is driving the growth of the talc market as talc is used in various end-use industries for several applications. The growing population and increasing disposable income of the middle-class population of emerging economies have led to the increased demand for different consumer products, such as cosmetics, ceramics, automotive plastic parts, and pharmaceuticals, which is, in turn, driving the growth of the talc market.
Easy availability of raw materials along with affordable labor
Talc is a clay mineral composed of hydrated magnesium silicate and is widely used as a thickening agent, filler, or lubricant in various applications. Talc is a metamorphic mineral in veins, foliated masses, and certain rocks. It is associated with serpentine, tremolite, forsterite, and almost always with carbonates (calcite, dolomite, or magnesite) in the lower metamorphic facies. It also occurs as an alteration product from tremor lite or forsterite. Moreover, the Southeast Asian countries have a substantial cheap workforce compared to other regions and are engaged in mining and synthetic talc manufacturing. Therefore, the easy availability of talc raw materials in these regions and around will help the Indonesia talc market grows.
Opportunity
Rise in research and advancement activities for the advancement of new grades of talc
The potential applications of talc are infinite, and continuous research & development activities in the talc industry are expected to help discover new applications and host many opportunities for the talc industry's growth. Constant research & development activities are being carried out in the talc industry for the development of new grades of talc for use in various applications such as in barrier coatings in paperboard food packaging for the food industry and others. There are more emerging trends that have a direct impact on the dynamics of the talc industry. These include growing production of specialty micronized grade talc for plastic and increasing demand for talc in lightweight automotive plastic parts.
Restraints/Challenges
Guidelines regulating the production as well as usage of talc
Stringent government regulations regarding the use of chemicals during the processing of talc and its usage are the factor that could hamper the growth of the Indonesian talc market. There are strict concerns regarding the ill effects of chemicals used in manufacturing talc products. This has resulted in shifting preference from chemicals to green (bio-based) and environment-friendly talc products. Moreover, exposure to talc for a longer duration has severe ill effects on the body functions. For example, any application of talc on wounds can give rise to scab formation, possible infection, and foreign body granulomas in the dermis. Therefore, owing to these harmful effects created while the production and usage of talc, strict rules and regulations have been enforced, which can hamper the growth in the Indonesia talc market.
Moderate development of the pulp & paper industry due to digitization
The pulp & paper industry has been growing at a languid pace due to the evolution of digitization, which has reduced the demand for talc from the paper and pulp industry. During paper production, talc has huge benefits for the products during the process. Talc is used in paper recycling and a new production of paper, pulp, and cardboard as filler. The characteristic properties of talc prevent pitch agglomeration within the production machine. Moreover, the primary use of talc in the paper industry is to improve sizing. The pulp and paper industry has contracted slightly over the past years due to the transition to digital media and paperless communication across most countries. Therefore, the slow growth of pulp and paper industry, owing to digitization, is a major factor expected to limit growth of the Indonesia talc market shortly.
Easy accessibility of substitutes
The availability of substitutes to talc is the primary factor that is expected to act as a challenge to the growth of the Indonesia talc market shortly. There is a wide range of substitutes for talc available in the market. In ceramics application, these substitutes for talc include bentonite, chlorite, feldspar, kaolin, and pyrophyllite. Chlorite, kaolin, and mica in the paint industry. Calcium carbonate and kaolin in pulp and paper industry. Bentonite, kaolin, mica, and wollastonite in plastics and kaolin and mica in the Rubber manufacturing industry. Thus, the easy availability of a wide range of substitutes for talc in the market will significantly challenge the growth and development of Indonesia talc market.
REPORT METRICDETAILSForecast Period2022 to 2029Base Year2021Historic Years2020 (Customizable to 2019 - 2014)Quantitative UnitsRevenue in USD ThousandSegments CoveredBy Deposit Type (Talc Carbonate, Talc Chlorite, and Others), End-Use (Pulp & Paper, Plastic Industry, Ceramics, Paints & Coatings, Cosmetics & Personal Care, Pharmaceuticals, Food Industry, Rubber Industry, and Others)Country CoveredThailandMarket Players Covered Imerys, Minerals Technologies Inc., PT. TALC INDONESIA, Nippon Talc Co., Ltd., Kaolin (Malaysia) Sdn Bhd., NISSEI CORPORATION and Sibelco among others.
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Thailand Talc Market Scope
Thailand Talc Marketis categorized based on deposit type and end-use. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
Deposit Type
Talc carbonate
Talc chlorite
Others
Based on deposit type, the Indonesia market is segmented into talc carbonate, talc chlorite, and others.
End-Use
Pulp & paper
Plastic industry
Ceramics
Paints & coatings
Cosmetics & personal care
Pharmaceuticals
Food industry
Rubber industry
Others
Based on the end-use, the Indonesia talc market is segmented into pulp & paper, plastic industry, ceramics, paints & coatings, cosmetics & personal care, pharmaceuticals, food industry, rubber industry, and others.
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Major TOC of the Report
1 INTRODUCTION
2 MARKET SEGMENTATION
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
5 MARKET OVERVIEW
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