The global impregnating resins market is poised to register a 6.9% growth, driven by adoption across Motors and Generators, Components, Automotive, Home Appliances, Transformers, and Other applications. The impregnating resins market report analyzes the key insights, growth opportunities, and forecasts of different types including the Solvent-Free impregnating resins and Solvent-borne impregnating resins market. Further, key companies operating in the impregnating resin industry are profiled in the research. The industry analysis also provided Impregnating Resins Market size outlook across 25 countries from 2021 to 2030.
Introduction:
Robust demand growth for solvent-free impregnating resins in motors, generators, transformers, and automotive and electrical appliance applications supports the market growth outlook for impregnating resins. Leading companies offer a wide range of impregnation resins to cater to specific applications to gain market shares in the competitive industry.
Impregnating resins offer superior electrical insulation, impart mechanical stability to the copper windings and coils, offer temperature resistance and improved heat dissipation, encouraging their widespread adoption across end-user industry verticals.
Rapid growth in urbanization, industrialization, and power generation trends in developing markets remains a key driving factor for companies manufacturing impregnating resins. In particular, the power generation, transmission, and distribution infrastructure coupled with automotive market demand support the growth in impregnating resins market volume.
The slightly viscous, organic liquid is a vital component of the motor, generator, and transformer production to ensure reliable insulation. The insulation reliability depends on the performance of the impregnating resins. Leading companies are extending support to customers in identifying the most suitable impregnating resin for their specific applications.
The market is intensely competitive with the presence of leading companies such as Axalta Coating Systems Germany GmbH & Co. KG, ELANTAS GmBH, Von Roll Holding AG, Henkel AG & Co. KGaA, Huntsman Corporation, Hitachi Chemical co., ltd, Kyocera Corp, AEV Ltd., 3M Company, Wacker Chemie AG, and others.
Impregnating resins are considered secondary electric insulation materials and provide high-efficiency insulation and mechanical strength to end-user applications.
The impregnating resins market size stood at $1.76 Billion in 2022. Further, driven by rapid growth in end-user industry demand, in emerging countries, in particular, supports the market outlook over the forecast period. From 2023 to 2030, the global impregnating resins market revenue is forecast to increase from $1.76 Billion to $2.97 Billion at a compounded annual growth rate of 6.81%.
Leading companies such as Axalta market low-emission and monomer-free impregnating resins, capable of use in a wide range of consumer applications. Further, steady growth in companies offering tailor-made resin-impregnation systems machines for their customers is widely observed.
The chart below details the market size forecast for impregnating resins from 2021 to 2030-
Market Share Analysis- Solvent Free Impregnating Resins dominate the global markets in revenue terms
As solvent-free impregnating resins overcome the problems of solvent-borne impregnating resins (higher dissipation factor at elevated temperatures and water absorption), the demand for solvent-less products is increasing rapidly.
The global impregnating resins market study analyzes the market size across two major types including solvent-borne impregnating resins and solvent-less impregnating resins. Of the two types, Solvent-free insulating impregnated resin held the largest market share of 56.2% during 2022. The market segment is poised to remain the dominant type throughout the forecast to 2030 driven by its low volatile nature, superior storage stability, less odor, single component storage, and low saturated steam advantages.
Market Trend- Focus on Emerging Markets Vital for Long-Term Growth Potential for Impregnating Resin companies
The growing manufacturing and industrial activity in emerging markets in the Asia Pacific, Latin America, a few countries in Eastern Europe, Africa, and other regions are encouraging long-term market growth potential for impregnating resins.
In addition to the ease of filling porous material, impregnating resins designed to improve the performance levels of modern electric motors are widely marketed.
Impregnating resins offer potential advantages including a boost in thermal conductivity, superior electrical insulation, no residue left, minimal vibrations, no bubbles formed, and accurate penetration of resins and accordingly, are gaining rapid penetration.
Impregnating Resins Market Revenue Analysis by Application, 2022
Steady recovery in manufacturing and industrial activities in 2021 and 2022 coupled with strong growth in automotive production in the first three quarters of 2022 supported the market demand across applications.
The potential advantages of impregnating resins including enhancement of mechanical properties and corrosion resistance enable their widespread adoption. Key applications of impregnating resins analyzed in the market study include- Motors and Generators, Components, Automotive, Home Appliances, Transformers, and other applications.
Of the key applications, motors and generators accounted for the dominant market share in impregnating resins during 2022. The market segment accounted for a market revenue of $1.1 billion in 2022, accounting for 65% of the total impregnating resins market size.
Further, the automotive industry is expected to be the fastest-growing application of impregnating resins, driven by robust growth in the use of impregnating resins in ICE and electric vehicles.
Market Driver-Steady Growth in the Electrical and Electronics Industry
The demand for the impregnating resin volume is increasing steadily in the global electrical and electronics industry. In particular, electric motors and generators are increasingly witnessing market growth, which drives up the impregnating resin use in the industry. Further, the growth in electric vehicles will augment the market growth outlook.
Asia Pacific and other emerging markets are witnessing robust market outlooks of electrical and electric components including consumer electronics, electrical and automobile manufacturing facilities, smart electronics, power generation, and other sectors, which support the market forecasts.
Impregnating Resins Market Segmentation
Type
Applications
Companies
Regions
1. Executive Summary
1.1 Introduction to Impregnating Resins Markets
1.2 Impregnating Resins Market Size Outlook, 2021- 2030
1.3 Growth Opportunities in Impregnating Resins Industry
1.4 Winning Strategies for the post-pandemic future
2. Report Guide
2.1 Market Definition and Scope
2.2 Market Segmentation
2.3 Research Methodology
2.4 Forecast Methodology
2.5 List of Abbreviations
3. Growth Opportunity Analysis
3.1 Key Impregnating Resins Market Trends
3.1.1 Focus on Emerging Markets Vital for Long-Term Growth Potential for Impregnating Resin companies
3.1.2 R&D investments in environment-friendly impregnating resins
3.1.3 Steady Growth in the Electrical and Electronics Industry
3.2 Key Impregnating Resins Market Growth Drivers
3.2.1 Widening applications of high-efficiency insulation and mechanical strength of products
3.2.2 Smart Grid transmission and distribution market growth prospects
3.3 Key Impregnating Resins Market Growth Restraints
3.3.1 Fluctuating raw material prices and supply disruptions
3.3.2 Intense competitive conditions
4 Impregnating Resins Market Outlook – Scenario Analysis
4.1 Low Growth Case Scenario Forecasts: Impregnating Resins Market Size Outlook to 2030
4.2 Reference Growth Case Scenario Forecasts: Impregnating Resins Market Size Outlook to 2030
4.3 High Growth Case Scenario Forecasts: Impregnating Resins Market Size Outlook to 2030
5. Impregnating Resins Market Segmentation- Outlook by Type
5.1 Impregnating Resins Market Share Analysis by Type, 2023
5.2 Solvent-Free Impregnating Resins Market Outlook to 2030
5.3 Solvent-borne Impregnating Resins Market Outlook to 2030
6. Impregnating Resins Market Segmentation- Outlook by Application
6.1 Impregnating Resins Market Share Analysis by Application, 2023
6.2 Motors and Generators: Impregnating Resins Market Outlook to 2030
6.3 Components: Impregnating Resins Market Outlook to 2030
6.4 Automotive: Impregnating Resins Market Outlook to 2030
6.5 Home Appliances: Impregnating Resins Market Outlook to 2030
6.6 Transformers: Impregnating Resins Market Outlook to 2030
6.6 Others
7. North America Impregnating Resins Market Outlook and Opportunities to 2030
7.1 Market Snapshot, 2023
7.2 North America Impregnating Resins Market Growth Opportunities
7.2.1 North America Impregnating Resins Market Outlook by Type, 2021 to 2030
7.2.2 North America Impregnating Resins Market Outlook by Application, 2021 to 2030
7.2.3 North America Impregnating Resins Market Outlook by Country, 2021 to 2030
7.3 United States Impregnating Resins Market Outlook, 2021 to 2030
7.4 Canada Impregnating Resins Market Outlook, 2021 to 2030
7.5 Mexico Impregnating Resins Market Outlook, 2021 to 2030
8. Europe Impregnating Resins Market Outlook and Opportunities to 2030
8.1 Market Snapshot, 2023
8.2 Europe Impregnating Resins Market Growth Opportunities
8.2.1 Europe Impregnating Resins Market Outlook by Type, 2021 to 2030
8.2.2 Europe Impregnating Resins Market Outlook by Application, 2021 to 2030
8.2.3 Europe Impregnating Resins Market Outlook by Country, 2021 to 2030
8.3 Germany Impregnating Resins Market Outlook, 2021 to 2030
8.4 France Impregnating Resins Market Outlook, 2021 to 2030
8.5 United Kingdom Impregnating Resins Market Outlook, 2021 to 2030
8.6 Spain Impregnating Resins Market Outlook, 2021 to 2030
8.7 Italy Impregnating Resins Market Outlook, 2021 to 2030
8.8 Other Europe Impregnating Resins Market Outlook, 2021 to 2030
9. Asia Pacific Impregnating Resins Market Outlook and Opportunities to 2030
9.1 Market Snapshot, 2023
9.2 Asia Pacific Impregnating Resins Market Growth Opportunities
9.2.1 Asia Pacific Impregnating Resins Market Outlook by Type, 2021 to 2030
9.2.2 Asia Pacific Impregnating Resins Market Outlook by Application, 2021 to 2030
9.2.3 Asia Pacific Impregnating Resins Market Outlook by Country, 2021 to 2030
9.3 China Impregnating Resins Market Outlook, 2021 to 2030
9.4 Japan Impregnating Resins Market Outlook, 2021 to 2030
9.5 India Impregnating Resins Market Outlook, 2021 to 2030
9.6 South Korea Impregnating Resins Market Outlook, 2021 to 2030
9.7 Indonesia Impregnating Resins Market Outlook, 2021 to 2030
9.8 Other Asia Pacific Impregnating Resins Market Outlook, 2021 to 2030
10. South and Central America Impregnating Resins Market Outlook and Opportunities to 2030
10.1 Market Snapshot, 2023
10.2 South and Central America Impregnating Resins Market Growth Opportunities
10.2.1 South and Central America Impregnating Resins Market Outlook by Type, 2021 to 2030
10.2.2 South and Central America Impregnating Resins Market Outlook by Application, 2021 to 2030
10.2.3 South and Central America Impregnating Resins Market Outlook by Country, 2021 to 2030
10.3 Brazil Impregnating Resins Market Outlook, 2021 to 2030
10.4 Argentina Impregnating Resins Market Outlook, 2021 to 2030
10.5 Other Latin America Impregnating Resins Market Outlook, 2021 to 2030
11. Middle East and Africa Impregnating Resins Market Outlook and Opportunities to 2030
11.1 Market Snapshot, 2023
11.2 Middle East and Africa Impregnating Resins Market Growth Opportunities
11.2.1 Middle East and Africa Impregnating Resins Market Outlook by Type, 2021 to 2030
11.2.2 Middle East and Africa Impregnating Resins Market Outlook by Application, 2021 to 2030
11.2.3 Middle East and Africa Impregnating Resins Market Outlook by Country, 2021 to 2030
11.3 Saudi Arabia Impregnating Resins Market Outlook, 2021 to 2030
11.4 United Arab Emirates (the UAE) Impregnating Resins Market Outlook, 2021 to 2030
11.5 Other Middle East Impregnating Resins Market Outlook, 2021 to 2030
11.6 Egypt Impregnating Resins Market Outlook, 2021 to 2030
11.7 South Africa Impregnating Resins Market Outlook, 2021 to 2030
11.8 Other Africa Impregnating Resins Market Outlook, 2021 to 2030
12. Profiles of major world Impregnating Resins Companies
12.1 Axalta Coating Systems Germany GmbH & Co. KG
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.2 ELANTAS GmBH
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.3 Von Roll Holding AG
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.4 Henkel AG & Co. KGaA
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.5 Huntsman Corporation
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.6 Hitachi Chemical co., ltd
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.7 Kyocera Corp
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
12.8 AEV Ltd.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
12.9 3M Company
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
12.10 Wacker Chemie AG
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13. Appendix
13.1 Publisher’s Expertise
13.2 List of Tables and Charts
13.3 List of Exhibits
13.4 Legal Disclaimer
The market is witnessing wide dynamics including a focus on emerging markets vital for long-term growth potential for impregnating resin companies, R&D investments in environment-friendly impregnating resins, steady growth in the electrical and electronics industry, widening applications of high-efficiency insulation and mechanical strength of products, Smart Grid transmission, and distribution market growth prospects, and others.
The impregnating resins market size stood at $1.76 Billion in 2022.
From 2023 to 2030, the global impregnating resins market revenue is forecast to increase from $1.76 Billion to $2.97 Billion at a compounded annual growth rate of 6.81%.
Axalta Coating Systems Germany GmbH & Co. KG, ELANTAS GmBH, Von Roll Holding AG, Henkel AG & Co. KGaA, Huntsman Corporation, Hitachi Chemical co., ltd, Kyocera Corp, AEV Ltd., 3M Company, Wacker Chemie AG, and others.
The smart grid industry is witnessing rapid growth, presenting potential opportunities for impregnating resin vendors.