Electrical Insulation Material Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is Segmented by Type (Glass Insulator, Porcelain Insulator, and Polymer Insulator), Voltage (Low Voltage, Medium Voltage, and High Voltage), Application (Transformers and Bushings, Cables and Transmission Lines, Rotating Machines, Surge Protector and Circuit Breaker, and Others) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Market Snapshot

Electrical Insulation Material Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >6 %

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Market Overview

The market for electrical insulation material is expected to grow at a CAGR of more than 6% globally during the forecast period.

Increasing the need for electricity transmission and distribution to various places in different regions across the world are driving the market growth.

The impact of the COVID-19 is expected to hinder the market growth.

Scope of the Report

The Electrical Insulation Material Market report includes:

Type
Glass Insulator
Porcelain Insulator
Polymer Insulator
Voltage
Low Voltage
Medium Voltage
High Voltage
Application
Transformers and Bushings
Cables and Transmission Lines
Rotating Machines
Surge Protector and Circuit Breaker
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Growing Demand from Electricals

  • Electrical Insulation Materials are the materials that don’t allow electricity to pass through them. Electrical insulation materials majorly find their application in generators, electrical rotating machines, transmissions, and transformers, among others.
  • Electricity passes through transmission cables to various places from power generation sectors. Power generation industries include generators, transformers, and rotating machines. Insulation materials help to pass electricity without disturbance or wastage of energy inside the machines.
  • Surge protection devices are the components of the electrical installation protection systems that contain insulation materials majorly help from voltage fluctuations. The materials used for surge protection purposes are majorly employed in domestic applications.
  • The demand for insulation materials has been increasing steadily due to expansion in power generation sectors and the rise in electricity usage in every region around the world. Regions, such as Africa, have been experiencing a significant rise in the demand for electricity in recent years.
  • According to the International Energy Agency, Africa has been witnessing rapid growth in industrialization and population lately.
  • The global annual solar power production is estimated to reach 500GW by 2020, from 40.134 GW in 2014, making the solar power market one of the fastest-growing ones with South Africa being in the forefront in terms of power generation capacity growth.
Electrical Insulation Material Market Volume Share

Asia-Pacific Region to Dominate the Market

  • The Asia-Pacific region is expected to dominate the global market owing to the highly developed power sector, and rapid industrialization witnessed in China and India, in the energy services sector recently.
  • The demand for electricity in the region is estimated to increase further because of rising household incomes and increase power consumption in various applications.
  • Rotating electric machines that convert electrical energy into mechanical energy use insulation materials for better transmission of electricity inside the parts of machines without passing through materials.
  • The energy consumption in Asia-Pacific is expected to grow by 48% over the next three decades. According to IEA, China alone is expected to contribute to 30% of the world’s energy increase until 2023.
  • According to the International Energy Agency (IEA), Asia-Pacific is the largest region in the consumption of electricity because of the heavy population, plenty of resources, and the abundant number of industries in China, India, South Korea, and Japan.
  • Increasing usage of electricity in industries and growing electronics and electricals production are expected to drive the market for electrical insulation material through the years to come in the Asia-Pacific region.
Electrical Insulation Material Market Regional Trends

Competitive Landscape

The global electrical insulation material market is fragmented in nature, with many players competing in the market. Some of the major companies are General Electric, Owens Corning, ABB, Siemens, and Huntsman, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from Transmission and Distribution Systems

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Impact of COVID-19 on the Market

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Glass Insulator

      2. 5.1.2 Porcelain Insulator

      3. 5.1.3 Polymer Insulator

    2. 5.2 Voltage

      1. 5.2.1 Low Voltage

      2. 5.2.2 Medium Voltage

      3. 5.2.3 High Voltage

    3. 5.3 Application

      1. 5.3.1 Transformers and Bushings

      2. 5.3.2 Cables and Transmission Lines

      3. 5.3.3 Rotating Machines

      4. 5.3.4 Surge Protector and Circuit Breaker

      5. 5.3.5 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ABB

      2. 6.4.2 BASF

      3. 6.4.3 Bharat Heavy Electricals Limited

      4. 6.4.4 General Electric

      5. 6.4.5 Huntsman

      6. 6.4.6 Knauf Insulation Group

      7. 6.4.7 NGK Insulators

      8. 6.4.8 Owens Corning

      9. 6.4.9 Siemens

      10. 6.4.10 Toshiba

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Increasing Power Generation Activities in Developing Countries

    2. 7.2 Other Opportunities

**Subject to Availability

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Frequently Asked Questions

The Electrical Insulation Material Market market is studied from 2016 - 2026.

The Electrical Insulation Material Market is growing at a CAGR of >6% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

General Electric, Owens Corning, ABB, Siemens, Huntsman are the major companies operating in Electrical Insulation Material Market.

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