Global Impregnating Resins Market: Overview
Impregnating resins, also known as secondary insulation materials, are liquid resins that are diluted with reactive thinners. They cure completely on the object to which they are applied. They provide electrical insulation, high mechanical stability, protection from climate influences and improved heat dissipation for copper windings and coils. Impregnating resins are widely used in generators, electric motors, and transformers as well as in other industrial fields.
Global Impregnating Resins Market: Growth Factors
Technological advancement in the automotive industry, augmentation, and modernization of the transmission & distribution network, and massive demand for power supply are the key growth drivers of the impregnating resins market. The massive popularity of the smart grid technology in various countries across the globe is yet another key factor that is likely to drive the expansion of impregnating resins market over the coming decade. Impregnation resins are used for wood modification treatment processes in the forest products industry. Wood that has been modified with impregnation resins can be used for structures requiring enhanced dimensional strength, biological decay defense, and anti-swelling efficiency. This, in turn, is likely to boost the expansion of impregnating resins market size in the ensuing years. Furthermore, constant breakthroughs taking place in the impregnating resins market and research institutes are likely to open new vistas of business growth for the market players.
Global Impregnating Resins Market: Segmentation
The global impregnating resins market can be divided based on type and application. On the basis of type, the market can be segmented into solventless and solvent-based. Based on the application, the impregnating resins market can be divided into motors and generators, automotive components, home appliances, and transformers.
Global Impregnating Resins Market: Regional Analysis
Based on regions, the global impregnating resins market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The impregnating resins market in the Asia Pacific region has tremendous growth prospects. Burgeoning demand for electricity and the mounting urbanization and industrialization in the region are expected to fuel the demand for impregnating resins during the estimated span. China, India, Japan, and Taiwan are predicted to be the key regional revenue contributors of impregnating resins markets in the APAC. Massive Investments & business expansions were the key business growth strategy implemented by the market participants during 2015 – 2018 span and it helped them in expanding their regional presence along with fulfilling the ever-increasing demand for impregnating resins in the emerging economies. This, in turn, has amplified the growth of impregnating resins earnings in the Asia Pacific region.
Presence of key manufacturers in the countries such as the U.S. will drive the growth of impregnating resins market in North America. Analysts have forecast Europe, Latin America, and MEA to market with huge business growth prospects.
Global Impregnating Resins Market: Competitive Players
The key players of the global impregnating resins market include Elantas GmbH, Axalta Coating Systems, Von Roll Holdings AG, Hitachi Chemicals Company Ltd., and Kyocera Corporation.
Global Impregnating Resins Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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