Mica (Mineral) Market Scope
Mica is a silicate mineral structured with a layer of granite and other rocks or crystals. Mica is highly translucent, stable, tough, durable, and electrically resistant. It is widely used in several applications across various industries which include rubber industry, plastic construction, cosmetic and others. It is also used in electronic consumer goods, such as hairdryers, toasters, LED lights, other lighting equipment, smoke detectors, and acoustic guitars The mica market is projected to witness the highest growth over the forecast timeline, owing to the surging mica applications in the electronics industry. Rapid industrialization in emerging countries of China and India will drive the mica applications in the construction industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Asheville-Schoonmaker Mica Company (United States), YAMAGUCHI MICA CO., LTD. (China), Daruka Minerals (India), BASF Catalysts LLC (United States), Pacer Corporation (United States), Franklin Industrial Minerals Co. (United States), Cleveland Mica Company (United States), Premier Mica Company (India), Mica Manufacturing Co. Pvt. Ltd. (India), Santa Fe Gold Corporation (United States), Gunpatroy Private Limited (India) and USAMICA (United States) |
CAGR | 6.6% |
The Mica Market is moderately fragmented. The level of competition among the companies in the Mica market is intense. In the global market, Asia Pacific region is dominating. China is the major mica producer, importer, and exporter of the region. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Mica (Mineral) market throughout the predicted period.
Asheville-Schoonmaker Mica Company (United States), YAMAGUCHI MICA CO., LTD. (China), Daruka Minerals (India), BASF Catalysts LLC (United States), Pacer Corporation (United States), Franklin Industrial Minerals Co. (United States), Cleveland Mica Company (United States), Premier Mica Company (India), Mica Manufacturing Co. Pvt. Ltd. (India), Santa Fe Gold Corporation (United States), Gunpatroy Private Limited (India) and USAMICA (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Cogebi N.V. and Franklin Industrial Minerals Co..
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Mica (Mineral) market by Type , by Application (Paints, Welding Electrodes, Gypsum Plasterboards, Automotive Acoustics, Oil Well Drillings (On-Shore and Off Shore), Rubber Industry, Plastics Industry, Automotive Industry Paints, Rolled Roofing and Asphalt Shingles and Decorative Coatings) and Region with country level break-up.
On the basis of geography, the market of Mica (Mineral) has been segmented into Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In January 2013,Generation Growth Capital Fund II, LP (“Generation Growth” or “GGC”) has acquired Mica Tool & Manufacturing, Inc. (“Mica”) as part of its Model 2 Machine Group investment platform that also includes M2M Machining, Inc. in Muskego, WI, Clinkenbeard & Associates, Inc. in Rockford, IL,
In March 2024 , Canada’s Mining Innovation Commercialization Accelerator (MICA) Network is pleased to announce their third Pan-Canadian Call for Proposals. MICA is a national innovation ecosystem initiative designed to modernize mining and improve its productivity and environmental performance, strengthen the Canadian mineral supply chain, and increase the domestic and export sales of Canadian innovators.
Influencing Trend:
Rise in Usage of Mica in the Novel Paint Technology
Market Growth Drivers:
Rise in Demand from Numerous Industries Such As Plastic, Electronics, Construction, Cosmetics and Others and High Requirement of Mica to Produce Pearlescent Pigment
Challenges:
Exposure to Mica Can Lead to Lung Related Inflammation
Restraints:
Stringent Government Rules and Regulation
Opportunities:
Rise in Demand From Electrical and Electronic, and Personal Care Industries
Key Target Audience
Manufacturing, Providers, Suppliers and Others