The mica market size reached around USD 544.17 Billion in 2023. The market is projected to grow at a CAGR of 4.30% between 2024 and 2032 to reach nearly USD 794.86 Billion by 2032.
Base Year
Historical Year
Forecast Year
The global beauty sector earned a notable revenue of USD 504 billion in the year 2022. The beauty and personal care market, with a presence of over one-third, is the biggest in North Asia, followed by North America and Europe at approximately 26% and 22% respectively. The figure for skin care alone is also expected to go up to USD177 billion by the year 2025, leading to the mica market development. Mica is quite popular as a skincare and cosmetic ingredient due to its reflective and light-scattering properties that give the products a stunning finish. In foundations, highlighter, and eye shadow products; mica helps to give a smooth finish and healthy glow. Its stability, safety, and ability to mix well with different types of ingredients makes mica a material of preference in both organic and high-end cosmetic range.
As per the mica market analysis, mica’s stability, resilience, and heat resistance make it an invaluable material for the construction and paint sectors. Its distinctive properties enhance the durability, weather resistance, and overall finish of paints, coatings, and building materials, offering extra protection against environmental elements. Due to the expansion of infrastructure projects and construction works across the globe, the demand for mica has significantly increased.
Value in USD Billion
2024-2032
Mica Market Outlook
*this image is indicative*
The global mica market growth can be attributed to rising demand for electronics, expansion in the automotive sector, and broadening industrial applications.
One of the notable mica market trends in the expansion of the electronic sector. Since mica possesses one of the best electrical insulation properties, its demand is not only limited to abrasive tools but also capacitors and insulators in electronics sector.
There is a rising use of mica in the cosmetics sector especially in products like eye shadow and foundation due to its unique natural sparkle and non-toxicity. Mica’s usage is also expanding in the personal care market due to these properties.
With its heat resistance and durability, mica is ideal for automotive uses, including insulation and paint. As the automotive sector expands, so does the need for mica in manufacturing, leading to the mica market expansion.
Mica’s stability and resilience make it a valuable material in construction and paint sectors. Additionally, rising infrastructure and construction projects globally fuel demand for mica in paints, coatings, and building materials.
Mica is widely used in multiple sectors including electronic, cosmetic, automotive, and building. In electronics, mica’s insulating qualities are vital for components like capacitors and insulators, driving its demand as the sector expands. The auto sector uses mica because of its resistance to heat and durability, which makes it fit for use in insulation and paint, leading to the expansion of mica market size. Mica is also stable, therefore it can be easily incorporated in construction materials such as painting, coating, and sealing which contain. Additionally, rising environmental awareness has increased demand for sustainably sourced mica, aligning with consumer preferences and regulatory trends toward eco-friendly materials.
The EMR’s report titled “Global Mica Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Breakup by Type
Breakup by Grade
Breakup by End-User
Breakup by Region
Based on type, the market is segmented into natural and synthetic. The natural segment is projected to dominate the market, representing a CAGR of 5.1%, leading to the mica market growth. Natural mica is a silicate mineral characterised by its layered structure, transparency, and flexibility. Its excellent insulating properties make it widely used in electronics, cosmetics, and various industrial applications.
Market players are focusing on sustainable production methods to gain a competitive edge and improve mica market outlook.
Established in 1929 at Louvain-la-Neuve in Belgium, COGEBI Group specialises in manufacturing insulation materials based on high-quality mica, with the electronics, energy, and aerospace sectors.
Founded in 1951 and based in Kolkata India, Gunpatroy Pvt. Ltd. is one of the leading manufacturers of mica an...
Founded in 1953 in Jharkhand, India, Daruka International provides mica products to global markets, primarily ...
Established in 1969 in São Paulo, Brazil, Mineração Vale do Juquiá Ltda. focuses on extracting and process...
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other major players in the market are The Premier Mica Company, Cleveland MICA Company, Imerys S.A., Elmelin Ltd., Von Roll Schweiz AG, and Micafab, among others.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
In 2023, the market attained a value of nearly USD 544.17 Billion.
The market is assessed to grow at a CAGR of 4.30% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 794.86 Billion by 2032.
The major drivers of the market are rising demand for electronics, expansion in the automotive sector, and broadening industrial applications.
As per the EMR report, the different types of mica in the market are natural and synthetic.
Regions considered in the market are North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The major players in the market are COGEBI Group, Gunpatroy Pvt. Ltd., Daruka International, Mineração Vale do Juquiá Ltda., The Premier Mica Company, Cleveland MICA Company, Imerys S.A., Elmelin Ltd., Von Roll Schweiz AG, and Micafab, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Grade |
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| Breakup by End-User |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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