North America talc is estimated to display a rapid CAGR of 3.0% during the forecast period (2021-2027). The automobile industry which is one of the major end-users for talc, in the region is going through rapid transformations. The development of electric vehicle infrastructure and demand for lightweight vehicles in the region boosted the market for talc. Major manufacturers such as Fiat Chrysler Automobiles, Ford, and General Motors, are using plastic in their cars, which will help in reducing the weight of vehicles and bringing down carbon dioxide emissions. Lightweight vehicle sales, which includes cars and trucks marketed in the US, were 17.3 million in 2015, while the same in 2012 stood at 14.4 million. The sales of lightweight vehicles declined in 2020 due to the COVID-19 pandemic, as all automobile manufacturers were forced to shut down their operations on a temporary basis. The automobile industry is expected to rise again and normalize by 2022. A growing automotive industry will support the growth of talc in the region.
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Further, the growth of talc in the region is supported by growing construction activities in the region. Although, owing to the COVID-19 pandemic lot of constructions projects were remain under constructions like there are more than 5000 hotels were in pipelines before pandemic in the US and the constructions has been resumed post pandemic, thus constructions of hotel in that region will drive the demand for roofing materials, which will again support the market for talc in the region. Similar kind of growth can be seen in Canadian construction sectors. In Canada, there are some mega projects which are under pipeline which will substantially create more employment opportunities.
Market Coverage
· Market number available for – 2020-2027
· Base year- 2020
· Forecast period- 2021-2027
· Segment Covered- by Deposits and End-user
· Countries Covered- US and Canada
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Key questions addressed by the report
What is the market growth rate?
Which segment and region dominates the market in base year?
Which segment and region will project fastest growth in the market?
How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
· Who is the leader in the market?
· How players are addressing challenges to sustain growth?
· Where is the investment opportunity?
North America Talc Market Report Segment
By Deposits
· Talc Carbonates
· Talc Chlorites
· Others
By End-user
· Ceramics
· Construction
· Cosmetics and Personal Care
· Paints and Coatings
· Pharmaceuticals
· Plastics
· Pulp and Paper
· Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
