As per the research report titled ‘Global Mica Mineral Market Size study with COVID Impact, by Type (Ground Mica, Sheet Mica, Built Up Mica), Application (Paintings and Coatings, Electronics, Construction, Cosmetics and Others) and Regional Forecasts 2020-2027’ available with Market Study Report, global mica mineral market is predicted to witness considerable growth during 2020-2027.
 

For the record, the mica mineral group comprises of a crystal-like structure of several closely related minerals having similar chemical as well as physical properties. The mineral remains stable when exposed to conditions like high temperatures, humidity, light, and electricity and is utilized in various consumer products including electronic appliances and cosmetics.
 

Moreover, it is applied to rubber goods in a bid to minimize sticking and is widely used in paints to enhance their pigmentation.
 

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Rapid industrialization along with increasing adoption of mica minerals across various applications including coatings, paints, and consumer electronics are propelling the growth of global mica mineral market.
 

In fact, a research by Statista states that the electronics segment is anticipated to account for 27% of the revenue shares of the global market, whereas the paints & coatings segment is projected to reflect 26% of the revenue share by 2024. However, strict rules and regulations pertaining to environmental protection is a restraining factor for the expansion of the market.
 

Regionally, North America mica mineral market is expected to expand substantially over the forecast period. Surging demand for personal care products in U.S., increasing penetration of the mineral in consumer electronics and rising adoption of mica as dielectrics as well as for calibration standards in condensers are favoring the expansion of the regional market.
 

Alternatively, Europe is anticipated to emerge as a lucrative opportunity for the market remuneration during 2020-2027, owing to increasing adoption of mica across various industry verticals such as automotive, rubber, electronics, cosmetics, paints & coatings, and plastic.
 

The companies that define the competitive landscape of worldwide mica mineral market are The Premier Mica Company, Mica Manufacturing Co. Pvt. Ltd., Cleveland Mica Company, Asheville Schoonmaker Mica L P, Gunpatroy Private Limited, BASF Catalysts LLC, Franklin Industrial Minerals, and Cogebi Inc among others.