The global impregnating resins market is expected to create an absolute $ opportunity of about US$ 2.79 Bn by 2032, with a projected CAGR of 6.5% during the forecast period (2022-2032). Sales of impregnating resins reached US$ 1.41 Bn at the end of 2021.
High demand for electrical components in the rapidly expanding automotive and power generation industries is expected to push sales of impregnating resins in future. Surging need for good quality electrical components owing to the deployment of strict laws by regulatory bodies to reduce emissions is another vital factor that would aid growth.
Moreover, replacement of old transportation and distribution infrastructure in developed countries is expected to accelerate the market. As per Fact.MR, North America holds around 1/3rd of the global impregnating resins market share.
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Increasing demand for resin-impregnated fiberglass and the presence of a well-established industrial base across North America is also projected to drive the market. Besides, increasing sales of resin-impregnated plywood in the construction sector is set to boost growth.
Further, surging use of impregnating resins in various applications such as insulation, filament winding, and improved heat transfer in electrical components is anticipated to bolster growth. Ongoing research and development activities by key players to introduce resin-impregnated carbon, wood, and paper is also set to bode well for the market.
Key Takeaways:
- The global impregnating resins market grew at a CAGR of 5.4% in the historic period (2017-2021).
- The U.S. impregnating resins market is expected to grow at a CAGR of 6% in the forecast period from 2022-2032.
- China impregnating resins market is projected to expand at a steady pace and exhibit a CAGR of 7% in the upcoming decade.
- By end use, the electric components category is likely to generate nearly 45.3% of the impregnating resins market share in the evaluation period.
- Based on form, the solventless impregnating resins segment currently accounts for around 39.8% of the global market
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Growth Drivers:
- Surging demand for electrical components backed by rapid development of electric vehicles and charging infrastructure is anticipated to foster growth.
- Usage of resin-impregnated paper is likely to surge with implementation of stringent government norms to lower pollution levels and decarbonizing the energy sector.
Competitive Landscape:
Key market players are adopting advanced manufacturing technologies for the production of impregnating resins to increase their market share. They are also aiming to serve the existing customers, as well as get new customers by adding novel products.
Meanwhile, some of the other companies are conducting R&D activities by collaborating with educational institutions to come up with innovative products.
For instance,
- In May 2020, researchers published a new study on the synthesis of formalin and paraformaldehyde with phenol formaldehyde resin at the 26th Regional Symposium on Chemical Engineering. Results showcased that addition of 40% w/w formalin in the phenol formaldehyde resin reduced the latter’s modular property and flexural strength by 97.60%.
Key Companies Profiled by Fact.MR
- Momentive
- Von Roll
- Elantas Gmbh
- 3M
- Axalta Coating Systems
- Robnor ResinLab Ltd
- Kyocera Corporation
- Huntsman International LLC
- Henkel AG & C. KGaA
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More Valuable Insights on Impregnating Resins Market
In the latest report, Fact.MR offers a detailed study on the global impregnating resins market for the forecast period of 2022 to 2032. The study also highlights key drivers promoting the sales of impregnating resins through detailed segmentation as follows:
By Form:
- Solventless Impregnating Resins
- Solvent-based Impregnating Resins
- Other Types
By Resin Type:
- Phenol-Formaldehyde Resins
- Urea-Formaldehyde Resins
- Melamine-Formaldehyde Resins
By Thermal Class:
- Less than 130 Degree Celsius
- 130 Degree Celsius – 180 Degree Celsius
- More than 180 Degree Celsius
By End Use:
- Electric Components
- Automotive Components
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Questions Covered in the Impregnating Resins Market Report
- Which end-user segment has the most market share?
- What is the expected growth rate of the global impregnating resin market?
- Who are the top 5 demand-driving countries for impregnating resin market?
- Which are the major leading regional markets for impregnating resin?
- Who are the top players engaged in impregnating resin manufacturing?
- What is the market size of impregnating resin industry?
- What are the major reasons that are generating growth in the global impregnating resin market?
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