the global mica (mineral) market revenue is expected to increase from US$478.1 million in 2015 to US$669.3 million by 2024 — posting a 3.8% CAGR over the period.
In terms of production and exports, India has long had one of the major mica industries in the world. India’s mining industry as a whole, including the mica industry, is significant to the country’s economic development. Despite ongoing controversy about child labour in the country’s mica business, India continues to be one of the leading producers of mica for the world market. Business prospects with major mica producers and exporters in India are anticipated to rise in the future as the mica industry continues to expand, particularly as the Indian government and the key market participants introduce new initiatives to address and eradicate the child labour issues.
Mica is a glossy silicate mineral that occurs as crystals or layers within granite and other rocks. Mica has a variety of uses due to its superior features, which include being highly translucent, sturdy, robust, and electrically resistant. Mica is most commonly used in the electrical and electronics industries as a thermal or electrical insulator. Because of its distinctive combination of flexibility, transparency, and toughness, mica is also commonly employed in the aircraft sector. In addition, the beauty and personal care industries employ mica to give items like toothpaste and cosmetics a glossy, sparkly appearance.
Global Mica Market Overview
Rising applications in a variety of industries, including electronics, building, cosmetics, plastic, rubber, and paints & coatings, are primarily responsible for the market expansion. The population of people accustomed to seeing and using a wide range of electronic and electric equipment on a daily basis for an infinite number of applications is continually growing, and this is predicted to lead to outstanding growth in the electronics industry over the coming few years.
The “Mica (mineral) Market” Research Report offers qualitative and quantitative insights into the key factors that influence the growth of international markets, including the main drivers, obstacles, opportunities, and problems. Along with detailed statistical market information on the top companies, the report makes revenue projections. Additionally, the mica (mineral) market research offers details on the predicted sales growth for a number of regional and national markets, as well as the competitive environment and company-specific studies. The Mica (mineral) Market Report covers current market share, penetration of various types of technology, applications, and regions through 2029 in addition to anticipated development drivers.
The performance of the product will be further optimised through technological innovation and progress, increasing its use in downstream applications. Additionally, market dynamics (drivers, restraints, opportunities) and consumer behaviour analysis provide essential knowledge for understanding the Mica (mineral) industry.
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Global Mica (mineral) Market: Major Players
Gunpatroy Private Limited
Mica Manufacturing Co. Pvt. Ltd.
Premier Mica Company
Franklin Industrial Minerals Co.
Cogebi N.V.
Cleveland Mica Company
BASF Catalysts LLC
Santa Fe Gold Corporation
Asheville-Schoonmaker Mica Company
Daruka Minerals
Global Mica (mineral) Market: By Types
Ground Mica
Sheet Mica
Built-Up Mica
Global Mica (mineral) Market: By Applications
Paints & Coatings
Electronics
Construction
Cosmetics
Others
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