Impregnating Resins Market to experience an impressive growth of 7.2% during 2020-2025
January 27, 2020
Impregnating Resins Market is likely to witness an impressive CAGR of 7.2% during the forecast period. Technological developments in the automotive sector and mounting demand for electricity are the major factors bolstering the global impregnating resins market. Further, enhancement and upgrading of the transmission & distribution network will underpin the market, globally, during the forecast period.
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Impregnating Resins Market Segment Insights:
By Type:
Based on the type, the market is segmented as solvent-based, solventless, and others. The solventless segment is expected to hold the largest share of the market during the forecast period. The growth is due to their superior performance such as high reactivity, stability at room temperature, high resin film build, adaptability on any type of machine and process, and excellent technical properties when compared with other impregnating resins.
By Application Type:
Based on the application type, the market is segmented as motors and generators, transformers, home appliances, automotive components, and others. The automotive components segment is estimated to be the fastest-growing application segment during the forecast period. The growth of this segment is bolstered by the technological developments in the automotive industry. For instance, GM (model name: Bolt), Nissan (model name: Leaf), and Tesla Motors have successfully commercialized electric vehicles in the passenger car market.
By Region:
In terms of regions, Europe is the major revenue generating region in the global impregnating resins market, driven by its large industrial base. APAC is the fastest-growing impregnating resins market, across the world. The growth of the APAC’s impregnating resins market is owing to the increase and modernization of the transmission & distribution network and growing demand for electricity in the region. Furthermore, various initiatives undertaken by the governments of different countries of the region to attract investments from various international companies are also expected to drive the growth of the APAC’s impregnating resins market during the forecast period.
Key Players:
Some of the major players in the impregnating resins market are AEV, Axalta Coating Systems, Elantas, Hitachi Chemicals, 3M Company, Kyocera Corporation, Momentive, Von Roll Holdings, and Wacker Chemie.
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- Attractive market segments and associated growth opportunities
- Emerging trends
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- Key success factors
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