Impregnating Resins Market worth $1.9 billion by 2025 | Key players Elantas (Germany), Axalta Coating Systems (US), Voll Roll Holdings (Switzerland), Kyocera Corporation (Japan).

According to recent market research the "Impregnating Resins Market by Type (Solventless, Solvent Based), Application (Motors & Generators, Home Appliances, Transformers, Automotive Components), Region (North America, APAC, Europe, MEA, South America) - Global Forecast to 2025", The impregnating resins market size is projected to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 6.5%. Increasing industrialization, rapid urbanization, and transformations in power generation, distribution & transmission infrastructure are propelling the global impregnating resins market. The replacement of combustion engines in automobiles with electric motors is also boosting the demand for impregnating resins.

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Solventless impregnating resins have better properties to sustain secondary insulation. These resin formulations include monomer-based epoxy, alkyd, and polyester amides resins. Solventless impregnating resins have low viscosity that ensures fast and deep impregnation of rotational machines. Advantages offered by solventless impregnation, such as room temperature impregnation, excellent stability, very high reactivity, and versatile processability, are responsible for the large market size in this segment.

Based on application, the automotive components segment is projected to register the highest CAGR during the forecast period. Impregnating resins are used for the impregnation of starters & alternators in conventional vehicles and electric motors in electric vehicles. Accelerated decarbonization and stringent regulations to reduce greenhouse gas emission (GHG) are propelling the demand for electric vehicles, which are boosting the consumption of impregnating resins in this segment. Government initiatives, such as the development of charging infrastructure and subsidies on electric vehicles across the globe, are also driving the market in this application.

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The impregnating resins market in APAC has immense growth potential driven by the rapid expansion of the manufacturing sector. APAC consists of some large and rapidly growing economies, such as China, India, Indonesia, Malaysia, Vietnam, and Thailand. Across these economies, local governments are making efforts to build infrastructure for industrial expansion and to attract foreign direct investments (FDI). The major drivers for the impregnating resins market in APAC are the electrification of rural areas in the developing countries, rapid urbanization, availability of low-cost labor, and government reforms to expand the manufacturing industry.

Elantas (Germany), Axalta Coating Systems (US), Voll Roll Holdings (Switzerland), Kyocera Corporation (Japan), Henkel (Germany), and Hitachi Chemical Co., Ltd. (Japan) are some of the leading players with a substantial market share. Investment & expansion, new product launch, agreement & collaboration, and merger & acquisition were the major growth strategies adopted by the market players between 2017 and 2019 to enhance their regional presence and meet the growing demand for impregnating resins in the emerging economies.

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Elantas (Germany) has a strong position in the impregnating resins market. The company has a strong product portfolio of impregnating resins, which are used for the impregnation of motors & generators, transformers, home appliances, and automotive components. Elantas offers a comprehensive portfolio suitable for dip, vacuum pressure impregnation (VPI), spray, and manual impregnating resin application methods. The products offered by the company are certified and suitable for recent motor and generator designs. It has 12 manufacturing sites located in India, China, Germany, Italy, Brazil, and the US. The company is focused on offering innovative and customized impregnating resins for diverse applications.

Axalta Coating Systems (US) is another major player operating in the market. The company has a robust global presence and offers impregnating resins for a wide range of applications such as motors & generators, transformers, and automotive components. The company emphasizes on research & development in the field of impregnating resins technology, to strengthen product portfolio and to widen its product utility in various applications. Recently, Axalta Coating Systems has launched a new product, Voltatex 4224, a new styrene- and vinyl toluene-free impregnating resin that limits flammability and reduces VOC emissions.

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