According to a new market report published by Lucintel, the future of the mica market looks promising with opportunities in the electrical and electronics, construction, paint & coating, and personal care industries. The mica market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $77.6 billion by 2025 with a CAGR of 3% to 5% from 2020 to 2025. The major drivers of growth for this market are growth in the electrical and electronics industry, growing construction activities, and increasing demand for personal care products.
Browse 110 market data tables and 131 figures spread through 215 pages and in-depth TOC on “Mica Market"
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In this market, different types of mica grades such as ground mica, sheet mica, and built-up mica are used as fillers and performance additives in various applications. Lucintel forecasts that ground mica will remain the largest segment and witness the highest growth over the forecast period due to growth in construction and paint & coating markets.
Within the mica market, the electrical and electronics segment is expected to remain the largest end use industry and witness highest growth over the forecast period due to increasing use of mica as an insulating material in electrical and electronics applications, such as capacitor, wire & cable, electric lighting & control equipment, and semiconductor.
Asia Pacific is expected to remain the largest region by value and volume and it is also expected to witness the highest growth over the forecast period due to the growth in electrical and electronics industry and increasing usage of joint compound, caulks & sealants, and grouts in construction industries.
Emerging trends, which have a direct impact on the dynamics of the industry, include growing use of ultrafine mica and increasing applications for synthetic mica. Franklin Industrial Mineral, Mica Manufacturing Company, Cogebi N.V, BASF, Asheville-Schoonmaker, Premier Mica Company, Imerys, Hebei Lingshou Mining and Building Material, Daruka Mineral, and Gunpatroy are among the major mica manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the mica market by end use, product type, grade, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Mica Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the mica market by end use, grade, product type and region as follows:
By End Use Industry [Kilotons and $M shipment analysis from 2014 to 2025]:
Electrical and Electronics
Construction
Paint and Coating
Personal Care
Others
By Grade [Kilotons and $M shipment analysis from 2014 to 2025]:
Ground Mica
Sheet Mica
Built-Up Mica
By Product Type [Kilotons and $M shipment analysis from 2014 to 2025]:
By Region [Kilotons and $M shipment analysis for 2014 – 2025]:
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Asia Pacific
The Rest of the World
This 215-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/mica-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.