Asia Pacific Talc Market Forecast to 2028 -Regional Analysis

The Asia Pacific talc market is expected to grow from US$ 940.38 million in 2022 to US$ 1,279.84 million by 2028. It is estimated to grow at a CAGR of 5.3% from 2022 to 2028.

Growth of Ceramics Industry Fuels Asia Pacific Talc Market

Talc is a core additive for all types of ceramics as it helps improve the vitrification process. It also assists in reducing firing temperatures and shortening firing cycles. Since talc has a high-temperature resistance, it improves Thermal shock resistance of ceramics and reduces fractures. Further, the technical ceramics market in China is showing rapid growth due to the expanding electronics market in the country. Thus, the growing ceramics industry is expected to boost talc usage, which would offer lucrative opportunities for the Asia Pacific talc market during the forecast period.

Asia Pacific Talc Market Overview

Australia, China, India, Japan, and South Korea are the key contributors to the Asia Pacific talc market in Asia Pacific. Asia Pacific is one of the largest crude and processed talc-producing regions globally. The region is home to major manufacturers producing lightweight plastics for automotive components. Rapid industrialization and a surge in disposable income of the middle-class population of emerging economies are expected to drive the demand for talc in Asia Pacific. According to the International Organization of Motor Vehicle Manufacturers (OICA), the Asia-Oceania region's vehicle production increased from 44.2 million in 2020 to 46.7 million vehicles in 2021. The development of automotive parts and components in the region with the rise of electric vehicle production will create lucrative opportunities for the Asia Pacific talc market. Extensive innovation and prototyping from major automakers are driving the market growth. Rise in regional construction activities and growth of industrial and automotive sectors further accelerate the market growth. Low-cost production in the region provides an excellent opportunity for the regional players in Asia Pacific, especially China and India. Under the Sustainable Development Goals 2030, the Asian Development Bank has planned to build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation in Asia Pacific. Moreover, the rise in the number of on-fleet vehicles in countries such as China, India, and South Korea is fueling the demand for building materials such as ceramics and paints & coatings. All these factors are propelling the growth of the Asia Pacific talc market in Asia Pacific.

Asia Pacific Talc Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Talc Market Segmentation

The Asia Pacific talc market is segmented into deposit type, end use industry, and country.

Based on deposit type, the Asia Pacific talc market is segmented into talc chlorite and talc carbonate. The talc carbonate segment held a larger share of the Asia Pacific talc market in 2022.

Based on end use industry, the Asia Pacific talc market is segmented into plastics, pulp and paper, ceramics, paints and coatings, rubber, pharmaceuticals, food, and others. The pulp and paper segment held the largest share of the Asia Pacific talc market in 2022.

Based on country, the Asia Pacific talc market is segmented int o Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The China dominated the share of the Asia Pacific talc market in 2022.

Elementis Plc; Golcha Minerals Pvt Ltd; Imerys SA; IMI Fabi SpA; Liaoning Aihai Talc Co Ltd; Minerals Technologies Inc; Nippon Talc Co Ltd; SCR-Sibelco NV; and Sun Minerals Pvt Ltd are the leading companies operating in the Asia Pacific talc market.