Press release
Impregnating Resins Market Size to Grow at the Double Digit CAGR
Impregnating resins are used along with wire enamels. They form a key component required in the manufacture of generators, motors, and transformers. They help in making different components of wire windings, laminated cores, insulation materials, etc. They function as a stable homogeneous unit. Impregnating resins provide protection to resins and they are responsible for improving heat transfer between wire windings, iron cores, and slot insulations. They are widely used in motors, generators, transformers, and electric components of automobiles.
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Global Impregnating Resins Market: Key Segments
The global impregnating resins market can be segmented based on type and application. In terms of type, the global impregnating resins market can be classified into solvent-less, solvent-based, and others. The solvent-less segment is estimated to witness rapid growth during the forecast period. This can be attributed to eco-friendly properties of solvent-less impregnating resins, which have led to their wide acceptance in developed countries. Based on application, the global impregnating resins market can be classified into: motors & generators, transformers, home appliances, automotive components, and others. Automotive components and home appliances are anticipated to be rapidly expanding application segments during the forecast period. Growth of automotive and electrical & electronics (E&E) industries is expected to propel the demand for impregnating resins in automotive components and home appliances segments during the forecast period.
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Global Impregnating Resins Market: Regional Outlook
Geographically, the global impregnating resins market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is the leading global impregnating resins market. Europe is another significant consumer of impregnating resins. Demand for impregnating resins in Europe is estimated to increase at a sluggish pace during the forecast period, due to sluggish growth of application sectors in the region. Asia Pacific accounts for a significant share of the global impregnating resins market. It is expected to be the rapidly expanding global impregnating resins market during the forecast period. This can be attributed to rapid growth of the automotive industry in the region. Countries such as India, China, and South Korea are estimated to propel the demand for impregnating resins in Asia Pacific between 2018 and 2026. Latin America and Middle East & Africa present lucrative opportunities to the global impregnating resins market. The global impregnating resins market in Middle East & Africa is largely driven by growth of industries in the region such as oil & gas and downstream processing.
Global Impregnating Resins Market: Key Players
Some of the key players operating in the global impregnating resins market are: Elantas GmbH (Germany), Axalta Coating Systems (the U.S.), Von Roll Holdings AG (Switzerland), Hitachi Chemicals Company Ltd. (Japan), 3M Company (the U.S.), and Kyocera Corporation (Japan).
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