The exceptional heat resistance properties of talc play a pivotal role in shaping the dynamics of the talc market. Talc's ability to withstand high temperatures makes it a sought-after ingredient in industries such as polymers and ceramics, where thermal stability is paramount. In the polymer industry, talc is utilized to enhance the heat resistance of plastics, ensuring their integrity under elevated temperatures. Similarly, talc contributes to the formulation of heat-resistant materials in ceramics, expanding its application spectrum.
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Data Bridge Market Research analyses the Vietnam Talc Market is growing with a CAGR of 1.9% in the forecast period of 2022 to 2029. As consumer awareness in Vietnam grows regarding talc's versatile applications in personal care products such as talcum powder, the demand for talc in the consumer goods sector is expected to surge. This heightened awareness may lead to increased incorporation of talc in cosmetic and hygiene products, driving market growth within the country.
Key Findings of the Study
Increasing innovations in talc applications are expected to drive the market's growth rate
In the Vietnam talc market, innovations in talc applications, particularly in the pharmaceutical and food industries, are a significant driver for market growth. Advancements in developing new applications leverage talc's unique properties, fostering its utilization in pharmaceutical formulations, where it acts as a lubricant and excipient. Additionally, the food industry explores talc as a functional ingredient for various purposes, including as an anti-caking agent and a texture enhancer. This diversification of talc applications broadens its industrial relevance and positions Vietnam as a versatile supplier, attracting increased demand from these expanding sectors.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Year
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2020 (Customizable to 2014-2019)
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Segments Covered
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Deposit Type (Talc Carbonate, Talc Chlorite, and Others), End-Use (Pulp and Paper, Plastic Industry, Ceramics, Paints and Coatings, Cosmetics and Personal Care, Pharmaceuticals, Food Industry, Rubber Industry, and Others)
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Market Players Covered
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Imerys (France), Minerals Technologies Inc. (U.S.), PT. TALC INDONESIA (Indonesia), Nippon Talc Co., Ltd. (Japan), Kaolin (Malaysia), Sdn Bhd. (Malaysia), NISSEI CORPORATION (Japan), Sibelco (Belgium)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Vietnam talc market is segmented on the basis of deposit type and end-use.
- On the basis of deposit type, the Vietnam talc market is segmented into talc carbonate, talc chlorite, and others
- On the basis of end-use, the Vietnam talc market is segmented into pulp and paper, plastic industry, ceramics, paints and coatings, cosmetics and personal care, pharmaceuticals, food industry, rubber industry, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major Vietnam talc market players in Vietnam talc market are Imerys (France), Minerals Technologies Inc. (U.S.), PT. TALC INDONESIA (Indonesia), Nippon Talc Co., Ltd. (Japan), Kaolin (Malaysia), Sdn Bhd. (Malaysia), NISSEI CORPORATION (Japan)
Market Developments
- In 2022, Nippon Talc Co., Ltd. had acquired full ownership of FAITH MINERALS, making it a wholly-owned subsidiary. This acquisition is expected to involve the purchase of the remaining stake held by FAITH MINERALS' stakeholders, including the joint venture partner. During the acquisition, Nippon Talc Co., Ltd. would have integrated FAITH MINERALS into its operations, aiming to leverage synergies and strategic advantages. The move to full ownership suggests a strategic decision by Nippon Talc Co., Ltd. to strengthen its position in the talc industry and capitalize on the resources and market presence of FAITH MINERALS
- In 2022, Imerys engaged in exclusive negotiations with Syntagma Capital for the sale of a significant portion of its assets dedicated to the production of kaolin, grinding calcium carbonate ("GCC"), precipitated calcium carbonate ("PCC"), and talc. These assets primarily cater to the paper markets. The proposed enterprise value for this transaction amounted to EUR 390 million, including provisions for an earn-out based on future business performance. Such strategic decisions by major players can impact the talc market, influencing its supply chain and potentially shaping market dynamics
- In 2022, PPG, a prominent coatings company, invested over USD 10 million in expanding the production of automotive original equipment manufacturer (OEM) coatings at its Weingarten, Germany site. The expansion project, slated for completion in the second quarter of 2022, included the construction of a 10,000-square-foot addition to the existing facility. This addition aimed to enhance the plant's capacity, allowing for the production of over 5,000 metric tons of waterborne basecoats annually. The increased demand for coatings in sectors such as automotive manufacturing reflects positively on the talc market, as talc is commonly used as a functional and performance-enhancing additive in coating formulations
- In 2022, Imerys and Safic-Alcan, two key players in the minerals and distribution sectors, announced the extension of their distribution collaboration. This agreement broadened the scope of their collaboration to encompass the Turkish market. The partnership involves the distribution of various mineral fillers, such as Kaolin, Talc, Carbonates, PCC, Mica, Diatomite, Perlite, and Wollastonite. Additionally, the distribution agreement extends to serving the rubber and plastics markets
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