Mica Industry 2020 is expected to reach an estimated $709 million by 2025

 The future of the global mica market looks promising with opportunities in the electrical and electronics, construction, paint & coating, and personal care industries. The global 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 $709 million by 2025 with a CAGR of 2% to 4% 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.

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Some of the mica market companies profiled in this report include 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 and others.

Publisher 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.