06-Oct-2020 | Zion Market Research
As per Zion Market Research, the global impregnating resins market was valued at USD 1.9 billion in 2019 and is expected to cross USD 2.5 billion by 2025, with a CAGR of almost 7%. Technological developments in the automotive sector and rising requirement for electricity are the major factors boosting the impregnating resins market all over the world. Apart from this, modernization and augmentation of the distribution & transmission network will power the market all over the world.
Hitachi Chemicals Company Ltd., Elantas GmbH, Von Roll Holdings AG, Axalta Coatings System, and Kyocera Corporation are the major companies active in the global market for impregnating resins.
The Solventless Segment By Type Is Projected To Be The Biggest Catalyst In The Impregnating Resins Market During The Forecast Period
The solventless category is predicted to add up for the biggest share of the global market for impregnating resins in the years to come. The high share of the market by solventless impregnating resins is owing to their high performance such as high reactivity, room temperature stability, resin film build, adaptability on any kind of process & machine, and excellent & high technical properties when evaluated against other impregnating resins.
Automotive Components By Application Predicted To Be The Quickest-Developing Segment In The Impregnating Resins Market During The Forecast Period
The automotive elements segment is expected to be the quickest-developing application in the years to come. The development of this section can be credited to the technological developments in the automotive sector. For example, GM, Nissan, and Tesla Motors have productively commercialized EVs in the passenger car industry. A commercial passenger vehicle maker, Changsha BYD Coach Company, Ltd., sells passenger buses in the worldwide market.
Europe Expected To Be The Biggest Market During The Forecast Period In Terms Of Value
Europe is the primary income creating area in the global market for impregnating resins due to its huge industrial base. Asia Pacific is the quickest-developing impregnating resins market all over the world. The development of the Asia Pacific impregnating resins market can be credited to the modernization and augmentation of the distribution & transmission network and rising requirement for electricity in the area. Moreover, various initiatives by the governments of various nations of the area to lure spending from different global firms are also predicted to power the development of the Asia Pacific impregnating resins market in the years to come.
Browse the full “Impregnating Resins Market Type Solventless, Solvent-Based, and Others), Application (Motors and Generators, Automotive Components, Home Appliances, Transformers, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/impregnating-resins-market
The global impregnating resins market is segmented as follows:
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