Impregnating Resins Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

The Impregnating Resins Market is Segmented by Technology (Solventless Resins and Solvent-based Resins), Resin Type (Polyester, Epoxy, Polyesterimide, and Other Resin Types), Application (Motors and Generators, Home Appliances, Transformers, Electrical and Electronics Components, Automotive, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecast in terms of revenue (USD million) for the abovementioned segments.

Market Snapshot

Impregnating Resins Market Size
Study Period: 2017-2027
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %

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Market Overview

The impregnating resins market was valued at around USD 1400 million in 2021. It is projected to register a CAGR of more than 5% during the forecast period.

The market saw growth in 2021 with growth in the automotive sector and other industrial applications worldwide. In 2021, the overall automotive production was around 801,45,988 units, an increase of 3% compared to the previous year. The increase in electric vehicles is expected to boost the demand for impregnating resins in the coming years.

  • Increasing electric vehicle production is anticipated to offer various growth opportunities for the market.
  • The market is driven by the increasing usage of impregnating resins in the electrical and electronics segment and recovering automotive production.
  • Asia-Pacific dominated the market studied, with India, China, and Japan recording major consumption.

Scope of the Report

The impregnating resins market is segmented by technology, resin type, application, and geography. The report also covers the market size and forecast for the impregnating resins market in 15 countries across major regions. For each segment, the market sizing and forecast have been done based on revenue (USD million).

Technology
Solventless Resins
Solvent-based Resins
Resin Type
Polyester
Epoxy
Polyesterimide
Other Resin Types
Application
Motors and Generators
Home Appliances
Transformer
Electrical and Electronics Components
Automotive
Other Applications
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

Increasing Demand for Electrical and Electronics Components

  • Impregnating resins are essential liquid resins that provide electrical insulation, protection from climate changes, and mechanical stability. They are also known as secondary insulators.
  • 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.
  • The Asia-Pacific electrical and electronics industry grew rapidly in the recent past, owing to the high demand from countries like India and China.
  • The global demand for smart consumer electronics is increasing exponentially, providing potential for the silicon carbide market to expand. According to JEITA, consumer electronics output in Japan reached JPY 381,928 million in 2021.
  • 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 November 2020 and 1.5% higher than USD 49.0 billion in October 2021.
  • Due to such factors, the demand for electrical and electronics components is increasing, which may boost the demand for impregnating resins in the coming years.
Impregnating Resins Market Share

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.
  • In recent years, India saw a significant increase in the demand for electronic items, owing to its position as the world's second-largest mobile phone manufacturer and high internet penetration rate. Electronics hardware production is a significant priority for the Indian government since it is one of the key pillars of the Make in India, Digital India, and Start-up India programs.
  • In FY 2021, India's electronic product exports totaled USD 11.7 billion and USD 950.17 million in May 2021.
  • 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.
  • The growing demand for electric cars has boosted the use of semiconductors in numerous electronic vehicle components. According to figures published by EV Volumes, the total number of electronic cars sold in 2021 was 6,750 thousand units, up from 3,240 thousand units in 2020.
  • Thus, based on the growing demand from various applications, Asia-Pacific is expected to be the largest market for impregnating resins over the forecast period.
Impregnating Resins Market Forecast

Competitive Landscape

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.

Recent Developments

  • The recent developments pertaining to the major players in the market are covered in the complete report.

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 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

    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. 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 Analysis**/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

      4. 6.4.4 ELANTAS GmbH

      5. 6.4.5 Henkel AG & Co. KGaA

      6. 6.4.6 Huntsman International LLC

      7. 6.4.7 KYOCERA CORPORATION

      8. 6.4.8 Momentive

      9. 6.4.9 Polycast Industries Inc.

      10. 6.4.10 Robnor ResinLab Ltd

      11. 6.4.11 Showa Denko KK

      12. 6.4.12 Sichuan EM Technology Co. Ltd

      13. 6.4.13 Von Roll

      14. 6.4.14 Wacker Chemie AG

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

    1. 7.1 Increasing Demand from Electric Vehicles

**Subject to Availability

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Frequently Asked Questions

The Impregnating Resins Market market is studied from 2017 - 2027.

The Impregnating Resins Market is growing at a CAGR of >5% over the next 5 years.

The Impregnating Resins Market is valued at 1424 Million USD in 2017.

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

Asia Pacific holds highest share in 2021.

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

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