The global impregnating resins market size was USD 1.49 Billion in 2021 and is expected to register a revenue CAGR of 6.5% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by increasing demand for impregnating resins in the electrical and electronics industry.
Impregnating resins improve insulation resistance and enhance overall performance of the part or machine, in which impregnated processes are used. Impregnation extends component life as well, making it increasingly necessary in the electrical industry. Sales of impregnating resins is expected to increase in the future owing to high demand for electrical components in rapidly expanding automotive and power generation industries. Another important aspect that will support growth is rising demand for high-quality electrical components as a result of regulatory organizations’ implementation of tight legislation to limit emissions. In addition, it is expected that increased usage of impregnating resins in a variety of applications, such as insulation, filament winding, and enhanced heat transfer in electrical components, will drive revenue growth of the market.
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Key players include: Altana Divisions, Axalta Coating Systems, LLC., Kyocera Corporation, Showa Denko K.K., Von Roll, Henkel AG & Co. KGaA, Huntsman International LLC., 3M, Polymer Composites, Inc., and Robnor ResinLab Ltd.
Some Key Highlights From the Report
- The solventless segment is expected to register a rapid revenue growth rate during the forecast period owing to increasing demand in electrical and electronics industry due to benefits such as high resin film builds, high reactivity, low viscosity, room temperature impregnation, good stability, slot fill, and advanced technical properties, among others. Also, in order to reduce VOC emissions, market players have also created next-generation water-based impregnating resins.
- The phenol formaldehyde segment is expected to lead in terms of revenue contribution to the global market over the forecast period owing to rising demand for moldings fit for various uses. Phenolic resins are mainly used in circuit board production for making circuit boards, such as PCB, due to their improved strength, dimensional stability, and greater impact resistance. They are also utilized in construction of panels, gears, bearings, chemical equipment, airplane parts, clutch and brake linings, jigs, and dyes because of their great heat and chemical resistance.
- The motor segment is expected to register a steady revenue growth rate during the forecast period owing to increasing demand for Electric Vehicles (EVs). Appropriate insulation is becoming increasingly important for greater longevity and efficiency. In addition, electric winding impregnation raises temperature generated during usual operation and increases coil insulation and motor’s overall performance. Thus, resins decrease risk of winding short circuits, which gradually improves motor’s operational life.
- The Asia Pacific market is expected to account for largest revenue share in the global market during the forecast period. This is due to increasing presence of major market players, such as Kyocera Corporation and SHOWA DENKO K.K., among others. In addition, increasing population, rapid industrialization, and growth in industries, such as chemicals and automotive, are driving market revenue growth. China is one of the largest players in impregnating resins global market owing to technological advancements used for manufacturing products and cost-effective product availability.
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Form Outlook (Revenue, USD Billion; 2019–2030)
- Solventless
- Solvent based
Type Outlook (Revenue, USD Billion; 2019–2030)
- Phenol Formaldehyde
- Urea Formaldehyde
- Melamine Formaldehyde
Application Outlook (Revenue, USD Billion; 2019–2030)
- Motors
- Generators
- Automotive and Electronic Components
- Home Appliances
- Transformers
- Others
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Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Significant Features that are under Offering and Key Highlights of the Reports:
– Detailed overview of the Impregnating Resins Market
– Changes in industry market dynamics
– Detailed market segmentation by type, application, etc.
– Historical, current and projected market size in terms of quantity and value
– Recent industry trends and developments
– Competition situation of Impregnating Resins Market
– Key companies and product strategies
– Potential niche segment/region showing promising growth.
Finally, the Impregnating Resins Market Report is the authoritative source for market research that can dramatically accelerate your business. The report shows economic conditions such as major locales, item values, profits, limits, generation, supply, requirements, market development rates, and numbers.
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