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The Global Mica Market size is forecast to increase by USD 97.85 million at a CAGR of 3.15% between 2023 and 2027. In the next five years, mica demand will rise in developing economies like China, India, Brazil, Mexico, the Philippines, and Indonesia. These countries offer cost advantages and lenient regulations, attracting mica manufacturers. Factors like population growth, rising income, and expanding industries, especially in electronics and automobiles, will drive mica demand. Initiatives like India's Make in India campaign will further boost demand, particularly in automotive applications.
This market report extensively covers market segmentation by type (natural and synthetic), application (electronics, paints and coatings, construction, cosmetics, and others), grade type (ground, sheet, and built-up), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
The natural segment is estimated to witness significant growth during the forecast period. Natural mica is a silicate mineral commonly found in igneous rocks formed by lava or magma. Mica crystals in their original form are available as rough flakes or blocks of irregular size, shape, and thickness, with structural imperfections and impurities. Mostly, mica is mined in India, especially in two districts called Gaya and Nellore, and other countries also mine mica, including Belgium, China, and Brazil.
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The natural segment was the largest segment and was valued at USD 451.37 million in 2017. It has the special ability to combine high dielectric strength, durability, uniform dielectric constant, low dielectric loss, high resistivity, and advanced insulating qualities into a flame retardant and electricity flame retardant material. There are two types of Indian muscovite mica, Ruby and Green. Ruby muscovite mica is far superior to green in terms of dielectric strength, low power loss, and other electrical properties. Some green muscovite mica are flatter than ruby ??muscovite mica and are valued for their optical qualities in transparent plates. Thus, such factors will drive the growth of the segment during the forecast period.
Based on the application, the market is segmented into electronics, paints and coatings, construction, cosmetics, and others. The electronics segment holds the largest market share. It serves as a crucial electrical insulator in the electronics industry, owing to its excellent thermal expansion coefficient and high-temperature resistance. Its valuable attributes like elasticity, high dielectric strength, infusibility, and low electrical conductivity drive the demand for mica in electronics, promoting market growth.
Widely used in consumer electronics such as hair dryers, LED lights, smoke detectors, toasters, and acoustic guitars, mica also finds applications in intricate areas like automotive sensors, capacitors, and lithium-ion batteries. The increasing demand for precise electronic components in sectors like aerospace, defense, radio, and medical further propels the global market's expansion. Despite the challenges posed by the COVID-19 pandemic, the electronic segment in the market is expected to witness significant growth during the forecast period, thanks to the resumption of supply chain activities and regularized import-export operations.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Rising Internet penetration in APAC is leading to the increasing demand for consumer electronics, such as smartphones, laptops, and digital cameras, which will drive the growth of the electronics market. This, in turn, will boost the demand for mica in electronic applications.
The growing population and increase in the demand for personal care and consumer goods are expected to drive the growth of the global market. In this region, the growing health consciousness among the population and increased focus on well-being have encouraged companies such as LOreal Group, Unilever, and others to make high investments in personal grooming products, thus driving its need in the cosmetics industry.
India has historically been the world top producer, making up a sizeable part of the total production. The nation is renowned for producing high-quality mica utilized in a variety of industries, including electronics, automobiles, cosmetics, and paints, and it has a wealth of mica reserves. With considerable reserves and manufacturing capacity, China is another prominent competitor in the industry. These factors are driving the market growth.
The mica market encompasses various industries, including cosmetics, electronics, paints & coatings, and construction. Despite its versatile applications, the global mica market faces challenges such as poorly maintained mines, resulting in safety concerns like cuts and head injuries. Both natural and synthetic mica find extensive use in diverse sectors. Sheet mica is particularly crucial in applications like electrical components, capacitors, and insulators across electronics and automotive industries. In construction, mica is utilized in cement, asphalt shingles, and insulation products. Moreover, advancements in technology, including the emergence of the 5G network, further drive demand. However, concerns persist regarding mica dust exposure, necessitating safety measures and alternative materials like acrylate polymers, polyester, and phenolic compounds.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
The market growth of mica is significantly driven by its high demand for producing pearlescent pigments, known for their distinctive pearl-like shimmer and gloss, attributes derived from mica's exceptional refractive and reflective indices. These pigments, incorporating natural or synthetic mica, alongside artificial glass substrates and semi-transparent layers of metal oxides, offer a wide spectrum of optical effects, ranging from subtle luster to striking silvery-white sparkle. Various industries including paint, printing ink, leather, plastic, rubber, cosmetics, and paper extensively utilize these pigments for enhancing their products.
In 2022, the global pearlescent pigments market was valued at USD 2.14 billion, projected to grow at a CAGR of 7.5%, reaching USD 3.68 billion by 2032. The surge in demand for pearlescent pigments across cosmetics, personal care, and coatings industries is fueled by escalating quality standards and the influence of social media, propelling market expansion. Furthermore, increased utilization of paints and coatings in automotive and construction sectors further bolsters the global market's growth trajectory.
Product innovation in the global sector is a key trend shaping the market. Synthetic mica is gaining popularity as a solution to the ethical and environmental challenges associated with natural mica. Created under controlled conditions, it eliminates the risks of conventional mining and ensures consistent quality. Manufacturers incorporate mica into composites to enhance their properties, such as mechanical strength, electrical and thermal insulation, and UV resistance. Mica-reinforced polymers, ceramics, and coatings are common examples.
Mica's shimmering appearance makes it a prevalent ingredient in cosmetics and personal care products, offering a sustainable alternative to conventional glitter containing harmful microplastics. Businesses are exploring ways to integrate mica with biodegradable materials, creating eco-friendly products, especially in the packaging and consumer goods industries. Leading players in the market prioritize recycling used mica products and exploring lab-made alternatives in response to social and environmental concerns, driving the demand and growth of the global market during the forecast period.
Illegal mica mining is a key factor hindering market growth. Non-Western countries, including India, Malaysia, Madagascar, Pakistan, South Africa, and Sri Lanka, show higher mica export figures than their domestic production figures. Illegal mining in these countries presents numerous socio-economic challenges, including safety hazards, pollution, poor health conditions, child labor, exploitation, trafficking, and security issues. Women and children, in particular, are exploited for their delicate skills, while labor costs are kept low.
Child labor is prevalent in mica mining, where miners, some as young as four years old, face danger and health risks due to manual mining and lack of safety measures and equipment. Unregulated and poorly maintained mines pose lethal hazards such as cuts, head injuries, and respiratory infections like tuberculosis, silicosis, and asthma. States like Jharkhand and Bihar in India are prioritized for addressing illegal mining concerns. These issues are expected to adversely impact the global market's growth during the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Micamafco- The company offers mica such as muscovite and phlogopite micas mineral.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Aromax Colourants Pvt. Ltd., Asheville Mica-Co., BASF SE, China Crystal New Material Holding Co. Ltd., Cleveland MICA-Co., Daruka International, Dev International, Groupe Bruxelles Lambert SA, Gunpatroy Pvt. Ltd., Jalan Mica-Exports, Luossavaara Kiirunavaara AB, Mica-Manufacturing Co. Pvt. Ltd., OJSC Elinar Holding Co., Pacer Minerals LLC, Pamica Group Ltd., Sakti Mica-Manufacturing Co., The Premier Mica-Co., YAMAGUCHI MICA Co. Ltd., and ELEMENTARY CITY YIXIN YIXIN MINING Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The mica market is influenced by various industries, including the cosmetics segment, electronics sector, paints & coatings industry, and construction industry. Mica finds applications in diverse products such as sheet mica, cement, asphalt shingles, and insulation products. It is also used in electrical components and insulators for electronic devices and in the automotive industry for brake linings and clutch plates. With the advent of 5G networks, mica demand is expected to rise further. However, concerns related to mica dust and its impact on health remain. The market offers various mica derivatives like acrylate polymers, polyester, phenolic, nylon, fiberglass, and cellulose acetate catering to diverse industrial needs.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Mica Market Scope |
|
Report Coverage |
Details |
Page number |
185 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3.15% |
Market growth 2023-2027 |
USD 97.85 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
2.53 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 43% |
Key countries |
US, China, India, Japan, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Aromax Colourants Pvt. Ltd., Asheville Mica Co., BASF SE, China Crystal New Material Holding Co. Ltd., Cleveland MICA Co., Daruka International, Dev International, Groupe Bruxelles Lambert SA, Gunpatroy Pvt. Ltd., Luossavaara Kiirunavaara AB, OJSC Elinar Holding Co., Pacer Minerals LLC, Pamica Group Ltd., Sakti Mica Manufacturing Co., and ELEMENTARY CITY YIXIN YIXIN MINING Ltd. |
Market dynamics |
Market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Market Segmentation by Grade Type
9 Customer Landscape
10 Geographic Landscape
11 Drivers, Challenges, and Trends
12 Vendor Landscape
13 Vendor Analysis
14 Appendix
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