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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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Major Companies:
- Altana divisions
- Axalta Coating Systems LLC.
- Kyocera Corporation
- Showa Denko K.K.
- Von Roll
- Henkel AG Co. KGaA
- Huntsman International LLC
- 3M
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.
Key questions addressed in the report:
- What is the expected market size of the global Impregnating Resins market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Impregnating Resins market?
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Impregnating Resins Market Segmentation:
Type Outlook:
- Phenol Formaldehyde
- Urea Formaldehyde
- Melamine Formaldehyde
Application Outlook:
- Motors
- Generators
- Automotive and Electronic Components
- Home Appliances
Regional Outlook:
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- A.E.
- South Africa
- Rest of MEA
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