Talc And Steatite Market

The article highlights the anticipated growth in the talc and steatite market from 2022 to 2030, with a forecasted increase in consumption volume and market value. It provides insights on global market trends, including production, imports, and exports, as well as key countries driving the market growth. The data shows fluctuations in consumption, production, import, and export volumes and values over the years, with notable growth rates in certain countries and regions. Overall, the article offers a comprehensive overview of the talc and steatite industry and its expected trajectory in the coming years.

Market Forecast

Driven by increasing demand for talc and steatite worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 11M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +8.1% for the period from 2022 to 2030, which is projected to bring the market value to $11.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Talc And Steatite

Global talc and steatite consumption rose remarkably to 9.7M tons in 2022, surging by 9.9% against 2021. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, global consumption reached the maximum volume at 9.9M tons in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global talc and steatite market revenue skyrocketed to $6.1B in 2022, with an increase of 43% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $8.1B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (1.4M tons), China (767K tons) and Brazil (644K tons), with a combined 29% share of global consumption. The United States, Turkey, Mexico, Japan, Pakistan, Democratic People's Republic of Korea, Germany, Finland, Indonesia and Canada lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +16.1%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Mexico ($2.2B) led the market, alone. The second position in the ranking was taken by Japan ($1B). It was followed by Brazil.

In Mexico, the talc and steatite market declined by an average annual rate of -1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.7% per year) and Brazil (+3.0% per year).

In 2022, the highest levels of talc and steatite per capita consumption was registered in Finland (52 kg per person), followed by Turkey (6.3 kg per person), Canada (6.2 kg per person) and Japan (3.9 kg per person), while the world average per capita consumption of talc and steatite was estimated at less than 0.1 kg per person.

In Finland, talc and steatite per capita consumption declined by an average annual rate of -3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Turkey (+14.5% per year) and Canada (-0.7% per year).

Production

World Production of Talc And Steatite

Global talc and steatite production expanded markedly to 9.3M tons in 2022, surging by 5.5% compared with the year before. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the production volume increased by 8% against the previous year. Global production peaked at 9.7M tons in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

In value terms, talc and steatite production dropped to $3.7B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 with an increase of 12%. Over the period under review, global production attained the maximum level at $3.9B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were India (1.7M tons), China (1.4M tons) and Brazil (650K tons), with a combined 40% share of global production. Turkey, the United States, Democratic People's Republic of Korea, France, Mexico, Pakistan, Finland, Japan, Afghanistan and Canada lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Turkey (with a CAGR of +17.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Talc And Steatite

In 2022, overseas purchases of talc and steatite increased by 3.6% to 3.6M tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 25%. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, talc and steatite imports rose to $1.2B in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 32% against the previous year. Over the period under review, global imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports By Country

The purchases of the twelve major importers of talc and steatite, namely Pakistan, the United States, Germany, the Netherlands, Japan, South Korea, Italy, Thailand, Indonesia, Spain, Belgium and Canada, represented more than two-thirds of total import. Taiwan (Chinese) (100K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Pakistan (with a CAGR of +31.4%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($123M), the United States ($115M) and Japan ($96M) were the countries with the highest levels of imports in 2022, with a combined 28% share of global imports. The Netherlands, Italy, Spain, Thailand, Belgium, Pakistan, South Korea, Indonesia, Taiwan (Chinese) and Canada lagged somewhat behind, together comprising a further 36%.

Among the main importing countries, Pakistan, with a CAGR of +33.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average talc and steatite import price stood at $340 per ton in 2022, almost unchanged from the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 7.1% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($455 per ton), while Pakistan ($110 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Talc And Steatite

Global talc and steatite exports declined to 3.1M tons in 2022, which is down by -7.6% on 2021 figures. The total export volume increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 31%. As a result, the exports reached the peak of 3.4M tons, and then shrank in the following year.

In value terms, talc and steatite exports contracted modestly to $1B in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 32%. As a result, the exports attained the peak of $1.1B, and then fell slightly in the following year.

Exports By Country

In 2022, China (668K tons), distantly followed by India (341K tons), Pakistan (327K tons), France (316K tons), the Netherlands (252K tons), the United States (208K tons), Afghanistan (198K tons), Italy (180K tons) and Austria (158K tons) represented the largest exporters of talc and steatite, together generating 84% of total exports. Belgium (111K tons) held a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Afghanistan (with a CAGR of +35.9%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($157M), the United States ($128M) and France ($105M) appeared to be the countries with the highest levels of exports in 2022, with a combined 38% share of global exports. The Netherlands, India, Italy, Austria, Belgium, Pakistan and Afghanistan lagged somewhat behind, together accounting for a further 46%.

In terms of the main exporting countries, Afghanistan, with a CAGR of +29.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average talc and steatite export price stood at $325 per ton in 2022, surging by 3.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 6.9% against the previous year. As a result, the export price attained the peak level of $333 per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($613 per ton), while Afghanistan ($133 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform