Mica is very popular for its unique characteristic to remain stable even when it is exposed to extreme conditions such as temperatures, moisture, light, or electricity. This makes it highly useful in the field of the electronics industry. It is primarily used as an insulator, pigment extender. It is also used as filler in electronics, paints & coatings, construction, cosmetics, and others (rubber, plastics, and so on) industries. It is light, relatively soft, and flexible kind of product with dielectric, hydrophilic, insulating, and elastic properties. It occurs in different forms and grades. Mica is manufactured as a byproduct from the mining of feldspar. Feldspar is an abundant rock-forming mineral that usually occurs as colorless or pale-colored crystals and comprises aluminosilicates of potassium, sodium, and calcium. The substance has a crystalline structure that can be turned into thin films of the sheet. These thin films of the sheet made by delaminating crystalline mica are flexible, very durable, and chemically inert.
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On the basis of its form, the global mica market is segmented as natural mica and synthetic mica. Based on the grade, the global market is further segmented as ground mica, sheet mica, and built-up mica. On the basis of end-user applications, the market is segmented as electronics, paints & coatings, construction, cosmetics, and others. The others segment is further sub-segmented as rubber, plastics, and so on.
Owing to the high demand from several industries such as plastics, construction, electronics, cosmetics, paints and coatings, and rubber, the global mica market has witnessed the significant rise in the past few years as far as its production and consumption are considered. Mica is used as the thermal and electrical insulator in a number of electronic equipment in the electronics industry. Whereas mica finds its use in the paints and coatings industry as an element extend the shelf life and enhance the intensity and brightness of colored pigments. Owing to the presence of crystalline elements, the mica is also used in the production of cosmetics and toothpaste.
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Hence, the increasing use of mica in the cosmetics industry in the past few years has considerably profited the global mica market. Despite witnessing steady growth across several industries, the global mica market is anticipated to be restrained considerably due to the suppositions that exposure to mica can lead to lung-related diseases and inflammations.
Presently, Asia Pacific is the leading regional market, dominating the global mica market. The region is also expected to remain the leading producer along with the leading consumer of mica in the near future, owing to the rising electronics and construction industries. In addition, the market in developed economies such as North America and Europe will also experience moderate to sluggish growth.
Major companies dominating the global mica market are Daruka Minerals, BASF Catalysts LLC, Mica Manufacturing Co. Pvt. Ltd., Santa Fe Gold Corporation, Asheville-Schoonmaker Mica Company, and Cogebi N.V. Other dominant players of the global mica market are Gunpatroy Private Limited, Cleveland Mica Company, and Franklin Industrial Minerals Co.
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Mica Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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