Global Mica Market Is Expected To Reach USD 751.48 Million By 2032

Zion Market Research has published a new report titled “Mica Market by Type (Natural and Synthetic), by Grade (Ground, Sheet, and Built-Up), and by End-Use Industry (Electrical & Electronics, Construction, Paint and Coating, Cosmetics & Personal Care, and Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032”. According to the report, the global mica market was USD 541.89 million in 2023 and is predicted to grow to around USD 751.48 million by 2032 with a compound annual growth rate (CAGR) of roughly 3.70% between 2024 and 2032.

Mica is a shiny silicate mineral structured with a layer of granite and other rocks or crystals. Highly translucent, tough, stable, durable, and electrical resistant are the advanced properties of mica, which makes it widely used in several applications across various industries. The global mica market is projected to witness the highest growth over the forecast timeline, owing to the surging mica applications in the electronics industry. Mica is an important compound for the electronics industry due to its chemical, physical, and electrical properties, perfect cleavage, flexibility, elasticity, low electrical and thermal conductivity, and high dielectric strength.

Additionally, mica is widely used in electronic consumer goods, such as hairdryers, toasters, LED lights, other lighting equipment, smoke detectors, and acoustic guitars. Moreover, rapid industrialization in emerging countries of China, India, and Brazil is likely to propel the mica applications in the construction industry. However, due to the stringent environmental regulations and fluctuating mica prices may hamper the global mica market in the future.

Browse the full “Mica Market by Type (Natural and Synthetic), by Grade (Ground, Sheet, and Built-Up), and by End-Use Industry (Electrical & Electronics, Construction, Paint and Coating, Cosmetics & Personal Care, and Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2024 – 2032?” Report at https://www.zionmarketresearch.com/report/mica-market

The global mica market is divided based on type, grade, and end-use industry. Based on type, the global mica market is classified into natural and synthetic mica. The natural mica segment dominated the global mica market in 2018, due to the increased use of natural mica in paint and coating, construction, and electronics industries. Moreover, synthetic mica is expected to show the highest CAGR, around 3.9%, in terms of volume.

By grade, the mica market is fragmented into the ground, sheet, and built-up mica. Ground mica is the largest contributing grade segment of the global mica market. In 2018, ground mica contributed around 50% revenue share to the global mica market. Ground mica is widely used in the construction industry as fillers in joint compound, to avoid cracks in gypsum plasterboards and protect walls from moisture.

The end-use industry segment includes construction, electrical and electronics, cosmetics and personal care, paint and coating, and others. The electrical and electronics industry is projected to be the most dominating in the market in the upcoming years. Insulators, capacitors, and resistors are mounted on printed circuit boards (PCBs), all of which contain mica. The paint and coating industry is projected to grow at the fastest pace in the upcoming years with a CAGR of around 3.6%.

In 2018, the Asia Pacific region dominated the global mica market. China is the major mica producing country of the region. Moreover, the emerging construction industry in developing countries of India, China, and Indonesia and the rising mica usage in the automotive industry are further expected to enhance the use of mica, thereby, propelling the mica market growth in the region.

Mica Market: Competitive Analysis

The global mica market is led by players like:

• BASF Catalysts
• Daruka Minerals
• Premier Mica Company
• Santa Fe Gold
• Mica Manufacturing
• Cogebi
• Gunpatroy
• Asheville-Schoonmaker Mica
• Cleveland Mica Company
• Franklin Industrial Minerals
• Imerys

This report segments the global mica market into:

Global Mica Market: Type Analysis

• Natural Mica
• Synthetic Mica

Global Mica Market: Grade Analysis

• Ground Mica
• Sheet Mica
• Built-Up Mica

Global Mica Market: End-Use Industry Analysis

• Electrical and Electronics
• Cosmetics and Personal Care
• Construction
• Paint and Coating
• Others

Global Mica Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

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