Global Mica Tape for Insulation Market is estimated to witness a rise in its revenue from US$ 167.2 Mn in 2021 to US$ 200.1 Mn by 2027. The market is registering growth at a CAGR of 3% over the forecast period 2022-2027. Mica tape is mainly used in the electronic and electrical industries. High-quality block mica is processed so that it is possible to create gauge glasses of high-pressure steam boilers. This can be done because of the high flexibility, transparency, and resistance to heat and the chemical attack nature of mica tapes. Mica sheets are used to provide structure for heating wire (such as in Kanthal or Nichrome) and can withstand up to 900 °C (1,650 °F). The various advantages of mica tapes are good dielectric strength, thermal conductivity, excellent tensile strength, anti-shock capabilities, and low dissipation factor among others.
The market is majorly driven by factors such as the surging utilization of mica tapes in wind power generators, the growing trend of building thermal insulation, and the rising application of mica tape for high-voltage coils and traction motors. Mica tapes are extensively gaining huge traction in wind power generators over other products, due to their improved electrical field strength and heat-resistant properties. Moreover, wind power generators are also facing the issues of voltage fluctuation and harmonic distortion. In this situation, mica tape is used to reduce the total harmonic distortion (THD) and improve the power quality. Further, mica tapes are extensively utilized in building thermal insulation systems which are also propelling the market growth, as thermal insulation is considered one of the most efficient ways to save energy in residential and commercial buildings.
In addition, thick mica tape is largely used for taping armature and field coils of traction motors (in cases where glass tape is not employed) and for taping the starter coils of H.V. alternators. Nearly all high-voltage coils utilize mica tape, especially muscovite mica tapes, due to their higher electrical purity. Further, mica tapes, which utilize electrical insulation, heat resistance, and unique design are ideal for manufacturing electric vehicles and this is expected to provide an opportunity for market expansion. Its heat-tolerance capabilities have a prominent role as separators in storage units for the new high-energy lithium-ion batteries used in EVs.
However, the easy availability of alternatives such as acrylate polymers, polyester, phenolic, and vulcanized fiber among others is hampering the market growth. Also, natural mica and its related products have a significant presence of toxic minerals and materials, such as arsenic, mercury, and can lead which can cause health issues among humans, this factor is also hindering the market growth.
Key Insights of the Report:
Key Takeaways from the Global Mica Tape for Insulation Market Report:
Competitive Landscape
The key players in the Global Mica Tape for Insulation Market are Cogebi AS, Isovolta AG, Nippon Rika Kogyosho Co., Ltd., Pamica Group Electrical Ltd., Von Roll Holding AG, and Jiaxing St New Materials Co. Ltd among others. Many companies are operating in the global Mica Tape for Insulation Market. Through extensive research, it is found that big players have adopted various competitive strategies such as product development and collaboration with the OEMs in order to have a grip on the stabilized global market scenarios. Further, the leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.
Segmentation Overview
The following are the different segments of the Global Mica Tape for Insulation Market:
By Product segment the Global Mica Tape for Insulation Market is sub-segmented into:
By Application segment the Global Mica Tape for Insulation Market is sub-segmented into:
By Industry Vertical segment the Global Mica Tape for Insulation Market is sub-segmented into:
By Region segment the Global Mica Tape for Insulation Market is sub-segmented into:
Report Attribute | Details |
---|---|
Market Size Value in 2021 | US$ 167.2 Mn |
Expected Revenue in 2027 | US$ 200.1 Mn |
Historic Data | 2017-2020 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Unit | Value (USD Mn) |
CAGR | 3% |
Segments covered | By Product, Application, Industry Vertical, and Region |
Leading players | Cogebi AS, Isovolta AG, Nippon Rika Kogyosho Co., Ltd., and other prominent players. |
Customization Scope | Get your customized report as per your preference. Ask for customization |
The various properties of mica tapes are good dielectric strength, thermal conductivity, excellent tensile strength, anti-shock capabilities, and low dissipation factor among others.
Phlogopite, muscovite, and synthetic mica are the different types of mica tapes.
The end-use industries in the mica tape for insulation market are industrial / traction motor & coils, transformer manufacturing, locomotive and wind power among others.
The Global Mica Tape for Insulation Market was valued at US$ 167.2 Mn in 2021.
Global Mica Tape for Insulation Market is estimated to expand at a CAGR of 3% over the forecast period.
The market is majorly driven by factors such as surging utilization of mica tapes in wind power generators, growing trend of building thermal insulation, and rising application of mica tape for high-voltage coils and traction motors.
The easy availability of alternatives, such as acrylate polymers, polyester, phenolic and vulcanized fiber among others and rising health concerns related to mica and its products are hampering the market growth.
Mica tapes, which utilizes electrical insulation, heat resistance, and unique design are ideal for manufacturing electric vehicles and this is expected to provide opportunity for market expansion.
Muscovite segment holds the highest share in the mica tape for insulation market.
Thermal insulation segment has the highest share in the Global Mica Tape for Insulation Market in 2021.
Asia Pacific dominates the Global Mica Tape for Insulation Market.
The key players in the Global Mica Tape for Insulation Market are Cogebi AS, Isovolta AG, Nippon Rika Kogyosho Co., Ltd., Von Roll Holding AG, and Jiaxing St New Materials Co. Ltd among others.