Mica Market Size, Share, Trends, Growth 2032

Mica Industry Prospective:

The global mica market size was worth around 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.

The report covers a forecast and an analysis of the mica market on a global and regional level. The study provides historical information from 2018 to 2022 with a forecast from 2024 to 2032 based on both volume (Kilotons) and revenue (USD Million). The study covers the key drivers and restraints of the mica market. It also provides the impact of the market within the forecast period. Furthermore, the study also includes the opportunities accessible within the mica market on a global level.

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Mica Market: Growth Drivers

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 useful in several applications across various industries. Mica is majorly used as an electrical or thermal insulator in the electrical and electronics industry. Moreover, it is also used by the aircraft industry due to its unique combination of transparency, flexibility, and toughness.

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.

In addition, rapid industrialization in emerging countries of China, India, and Brazil is likely to propel the mica applications in the construction industry. Mica is used as joint filler in the construction of gypsum plaster boards. However, due to the stringent environmental regulations and fluctuating mica prices may hamper the global mica market in the future. Conversely, the rising applications of mica in the automotive industry are likely to offer ample opportunities for mica market growth.

In order to offer the users of this report, a comprehensive read of the mica market, we have enclosed a detailed value chain analysis. To know the competitive landscape within the market, an analysis of Porter’s Five Forces model for the Mica Market has additionally been enclosed within the study. The study includes a market attractiveness analysis, wherein all the segments are benchmarked supported their market size, growth rate, and general attractiveness.

The study also includes the market share of the key participant’s operating in the mica market across the globe. Additionally, the report covers the strategic development together with acquisitions & mergers, agreements, partnerships, collaborations, and joint ventures and regional growth of key players within the market on a regional basis.

Mica Market: Segmentation

The global mica market is segmented based on type, grade, end-use industry, and region.

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 and is expected to maintain its dominance in the upcoming years as well. By grade, the mica market is fragmented into 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 plaster boards 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. Moreover, mica is also used in capacitive sensor technology as a dielectric material.

Mica Market Report Scope:

Mica Market: Regional Analysis

The regional classification includes Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

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
• Middle East and Africa