Impregnating Resins Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Global Impregnating Resin Industry is Segmented by technology (solventless resins and solvent-based resins), resin type (polyester, epoxy, polyester imide, and other resin types), application (motors and generators, home appliances, transformers, electrical and electronic components, automotive, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The market size and forecasts are provided in terms of revenue (USD million) for the abovementioned segments.

Impregnating Resins Market Size

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Impregnating Resins Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration High

Major Players

Impregnating Resins Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Impregnating Resins Market Analysis

The impregnating resins market is projected to register a CAGR of more than 5% during the forecast period.

The COVID-19 pandemic hindered the market because massive disruptions to global supply chain networks resulted from lockdowns, social distances, and trade sanctions. All the major end-user industries witnessed a decline due to the halt in activities. However, the condition is expected to recover in 2021, which is expected to benefit the market during the forecast period.

  • The market is driven by the growing use of impregnating resins in the electrical and electronics sectors and the recovery of automotive production.
  • The low efficiency of solvent-based resins acts as a restraint on the growth of the market.
  • Increasing electric vehicle production is anticipated to offer various growth opportunities for the market.
  • Asia-Pacific dominated the market studied, with India, China, and Japan recording major consumption.

Impregnating Resins Market Trends

Increasing Demand for Electrical and Electronics Components

Impregnating resins are important liquid resins that provide electrical insulation, protection from weather changes, and mechanical stability.They are also known as secondary insulators.

  • The resin impregnation of windings and copper wires provides better insulation and prevents vibration. It also increases resistance to stresses, temperature loads, and heat exchange during normal operation and reduces the risk of short circuits in the windings.
  • Resins are used a lot in the electronics and electrical industries because they are good at keeping electricity from moving through them.They are the primary resin used for integrated circuits, transistors, and printed circuit boards.
  • The market for impregnating resins could grow because the demand for smart consumer electronics is growing at an exponential rate around the world.According to the German Electrical and Electronic Manufacturers' Association (ZVEI), in 2021, the global electrical market reached USD 4.9 trillion.
  • In 2021, the United States produced 123.9 billion pounds (USD 170.44 billion) of resin. High-density polyethylene (HDPE) was the most produced resin that year, with an output of 22 billion pounds. Linear low-density polyethylene (LLDPE) accounted for a similar production volume, at 21.7 billion pounds.
  • According to the Plastic Soup Foundation, the amount of plastic that is produced in the world every year reached over 390 million tons in 2021. The expectation is that the production will reach about 1,480 million tons by 2050.
  • Impregnating resins are used for the impregnation of starters and alternators in conventional vehicles and electric motors in electric vehicles. According to OICA, in 2021, global vehicle production reached 80.1 million units, an increase of 4% from the previous year's production of 77.6 million units. The increasing production of vehicles owing to the growing need from consumers is the key factor driving the market's growth.
  • Major companies are continuously investing in the manufacture of electric vehicles. For instance, in May 2021, Hyundai Motor Group (HMG), which includes Hyundai Motor Company and Kia Corporation, planned to invest USD 7.4 billion in the United States by 2025 to produce future EVs, enhance production facilities, and further its investments in smart mobility solutions. Hyundai Motor's U.S. facility began EV production in 2022.
  • Germany is considered one of the world's leading producers of generators, transformers, and electric motors. According to the statistics provided by the Statistisches Bundesamt, the revenue from the manufacture of electric motors, generators, and transformers in Germany will amount to approximately USD 19.51 billion by 2025, up from USD 18.5 billion in the previous year.
  • According to the Semiconductor Sector Association (SIA), worldwide semiconductor industry sales totaled USD 49.7 billion in November 2021, up by 23.5% from USD 40.2 billion in the previous year.
  • Due to such factors, the demand for electrical and electronic components is increasing, which may boost the demand for impregnating resins in the coming years.
Impregnating Resins Market: Consumption of Resins, Volume (%), by End-user Industry, Global, 2021

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to dominate the market for impregnating resins during the forecast period. In countries like China, India, and Japan, due to growing electrical and automobile manufacturing facilities, the demand for and utilization of impregnating resins may increase the scope of the market during the forecast period.
  • China is the largest base for electronics production in the world. Electronic products such as smartphones, TVs, wires, cables, portable computing devices, gaming systems, and other personal electronic devices recorded the highest growth in the consumer electronics segment.
  • India has seen a big rise in the demand for electronic goods in recent years. This is because it is the world's second-largest maker of mobile phones and has a high internet penetration rate. The Indian government gives electronics hardware a lot of attention because it is one of the most important parts of the Make in India, Digital India, and Start-up India programs.
  • In India, the electronics market witnessed a growth in demand, with market size increasing at a rapid rate. India's electronic goods exports fetched USD 16.67 billion in December 2022, as compared to USD 10.99 billion in the same month of 2021. The growing electronics and appliances market in India and China may push market growth further in Asia-Pacific.
  • The Japanese electrical and electronics industry is one of the world's leading industries. According to JEITA (the Japan Electronics and Information Technology Industries Association), in November 2022, the total production of the electronics industry reached USD 7,098.34 million. Japan exported a total of USD 8,395.45 million in electronics in December 2022.
  • Semiconductors are also used in the automotive industry. The demand for semiconductors used in the manufacture of electric vehicles is increasing with the growing number of electric vehicles sold worldwide, therefore positively impacting the demand for impregnating resins.
  • The Korea Automotive Technology Institute (KAII) has collected data that shows the electric vehicle industry in South Korea is expected to grow quickly.In 2021, nearly 71,000 units of electric vehicles were sold in the country. South Korean sales of electric vehicles surged by 96% to 71,006 units in the first nine months of 2021.
  • Semiconductors are now used in more electronic parts of cars because there are more people buying electric cars.According to data from EV Volumes, the total number of electric cars sold in 2021 was 6.75 million, up from 3.24 million the year before.
  • So, Asia-Pacific is likely to be the biggest market for impregnating resins over the next few years because of the growing demand from different applications.
: Impregnating Resins Market - Growth Rate by Region, 2023-2028

Impregnating Resins Industry Overview

The impregnating resins market is partially consolidated, with the presence of both international and regional players. The top five players account for a noticeable share of the market. The major companies (not in any particular order) are Axalta Coating Systems, Elantas GmbH, Henkel AG & Co. KGaA, Huntsman International LLC, and Von Roll.

Impregnating Resins Market Leaders

  1. Axalta Coating Systems

  2. Elantas GmbH

  3. Von Roll

  4. Henkel AG & Co. KGaA

  5. Huntsman International LLC

*Disclaimer: Major Players sorted in no particular order

Impregnating Resins Market Concentration
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Impregnating Resins Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Increasing Usage in the Electrical and Electronics Segment

      2. 4.1.2 Recovering Automotive Production

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Less Efficiency of Solvent-based Resin Systems

      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 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 Technology

      1. 5.1.1 Solventless Resins

      2. 5.1.2 Solvent-based Resins

    2. 5.2 Resin Type

      1. 5.2.1 Polyester

      2. 5.2.2 Epoxy

      3. 5.2.3 Polyesterimide

      4. 5.2.4 Other Resin Types

    3. 5.3 Application

      1. 5.3.1 Motors and Generators

      2. 5.3.2 Home Appliances

      3. 5.3.3 Transformer

      4. 5.3.4 Electrical and Electronics Components

      5. 5.3.5 Automotive

      6. 5.3.6 Other Applications

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.4.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.4.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Rest of Europe

      4. 5.4.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


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

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

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3M

      2. 6.4.2 AEV Ltd.

      3. 6.4.3 Axalta Coating Systems, LLC

      4. 6.4.4 Börger GmbH

      5. 6.4.5 Chetak Manufacturing Company

      6. 6.4.6 ELANTAS GmbH

      7. 6.4.7 Henkel AG & Co. KGaA

      8. 6.4.8 Huntsman International LLC


      10. 6.4.10 Momentive

      11. 6.4.11 Polycast Industries Inc.

      12. 6.4.12 Von Roll

      13. 6.4.13 Wacker Chemie AG

    5. *List Not Exhaustive

    1. 7.1 Increasing Demand from Electric Vehicles

**Subject to Availability
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Impregnating Resins Industry Segmentation

Resin impregnation refers to the sealing of porosity, which occurs in manufacturing processes such as casting and sintering. Through vacuum and/or pressure methods, the polymer resin is forced into the porosity and then cured to form a pressure-tight part. The impregnating resins market is segmented by technology, resin type, application, and geography. By technology, the market is segmented into solventless resins and solvent-based resins. By resin type, the market is segmented into polyester, epoxy, polyesterimide, and other resin types. By application, the market is segmented into motors and generators, home appliances, transformers, electrical and electronic components, automotive, and other applications. The report also covers the market size and forecast for the impregnating resin market in 15 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of revenue (USD million).

Solventless Resins
Solvent-based Resins
Resin Type
Other Resin Types
Motors and Generators
Home Appliances
Electrical and Electronics Components
Other Applications
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Impregnating Resins Market Research FAQs

The Impregnating Resins Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Axalta Coating Systems , Elantas GmbH , Von Roll, Henkel AG & Co. KGaA and Huntsman International LLC are the major companies operating in the Impregnating Resins Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Impregnating Resins Market.

The report covers the Impregnating Resins Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Impregnating Resins Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Impregnating Resins Industry Report

Statistics for the 2024 Impregnating Resins market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Impregnating Resins analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Impregnating Resins Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)