Market Size of Impregnating Resins Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.58 Billion |
| Market Size (2029) | USD 2.06 Billion |
| CAGR (2024 - 2029) | > 5.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Impregnating Resins Market Analysis
The Impregnating Resins Market size is estimated at USD 1.58 billion in 2024, and is expected to reach USD 2.06 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).
The COVID-19 pandemic hindered market growth due to massive disruptions to global supply chain networks resulting from lockdowns, social distances, and trade sanctions. All major end-user industries witnessed a decline due to the halt in activities. However, the condition was expected to recover in 2021 and 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 increasing electric vehicle production.
- However, the low efficiency of solvent-based resins is restraining the growth of the market.
- Nevertheless, the development of eco-friendly formulations presents avenues for growth and innovation in applications such as renewable energy, aerospace, and advanced electrical systems.
- Asia-Pacific dominates the market studied, with India, China, and Japan recording primary consumption.
