Strong Growth Projected for Impregnating Resins Market, CAGR of 6.5% from 2022-2032

The global impregnating resins market (含浸樹脂市場) is expected to witness substantial growth, with sales projected to generate around US$ 2.79 billion by 2032, representing a compound annual growth rate (CAGR) of 6.5% from 2022 to 2032. In 2021, sales of impregnating resins had already reached $1.41 billion USD. The future growth of the impregnating resins market is driven by the high demand for electrical components in the rapidly expanding automotive and power generation industries. Additionally, the increased need for high-quality electrical components due to stringent emission-reduction standards enforced by regulatory bodies will further boost market growth. Moreover, in industrialized nations, the replacement of aging transportation and distribution infrastructure is expected to drive market growth. North America is a key player in the global impregnating resins market, accounting for approximately one-third of its total value. Overall, the impregnating resins market is experiencing significant growth, propelled by increasing demand from the electrical and electronics industry, rising adoption in the automotive sector, and expanding applications in the aerospace and defense industry.

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The presence of a well-established industrial base across North America, as well as rising demand for resin-impregnated fibreglass, is expected to boost the market. Furthermore, rising sales of resin-impregnated plywood in the building sector are expected to drive development.

Additionally, the increasing use of impregnating resins in a variety of applications such as insulation, filament winding, and enhanced heat transfer in electrical components is expected to drive growth. Key players' ongoing research and development initiatives to introduce resin-impregnated carbon, wood, and paper are also expected to benefit the market.

Key Takeaways:

The global impregnating resins market (함침 수지 시장) grew at a CAGR of 5.4% in the historic period (2017-2021).
The U.S. impregnating resins market is expected to grow at a CAGR of 6% in the forecast period from 2022-2032.
China impregnating resins market is projected to expand at a steady pace and exhibit a CAGR of 7% in the upcoming decade.
By end use, the electric components category is likely to generate nearly 45.3% of the impregnating resins market share in the evaluation period.
Based on form, the solventless impregnating resins segment currently accounts for around 39.8% of the global market

Growth Drivers:

Surging demand for electrical components backed by rapid development of electric vehicles and charging infrastructure is anticipated to foster growth.
Usage of resin-impregnated paper is likely to surge with implementation of stringent government norms to lower pollution levels and decarbonizing the energy sector.
Restraints:

Adoption of low-quality raw materials by vendors backed by the expensive nature of premium quality materials may hinder growth.
Solvent-based impregnating resins have low efficiency compared to other types, which may obstruct the market.

Key Companies Profiled

Momentive
Von Roll
ELANTAS GmbH
Henkel AG & Co. KGaA
Huntsman International LLC
KYOCERA CORPORATION
3M
Axalta Coating Systems
Robnor ResinLab Ltd.

Competitive Landscape

To reach the worldwide market and improve the overall supply chain in the global impregnating resins market, key companies are focusing on implementing modern manufacturing technologies for the production of impregnating resins.

Impregnating resin producers are also focused on continual consolidation among key manufacturers and suppliers, as well as advances in the target product's production scenario, in order to sustain and expand their present client base. Technological advancements are projected to drive the global demand for impregnating resins.

For instance,

Voltatex 4224, a new product from Axalta Coating Systems, was added to the company's product line, including low-emission, styrene-free vinyl toluene impregnating resins.

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Segmentation of Impregnating Resin Market (Markt für Imprägnierharze) Research

By Resin Type :

Phenol-formaldehyde Resins

Urea-formaldehyde Resins

Melamine-formaldehyde Resins

By Form :

Solventless

Solvent-based

Others

By Thermal Class :

Less Than 130 Degree Celsius

130 Degree Celsius to 180 Degree Celsius

More Than 180 Degree Celsius

By End Use :

Electric Components

Automotive Components

By Region :

North America

Latin America

Western Europe

Eastern Europe

East Asia

South Asia & Pacific

MEA

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This release was published on openPR.