DUBLIN--(BUSINESS WIRE)--The "Impregnating Resins Market by Type (Solventless, Solvent-based), Application (Motors and Generators, Home Appliances, Transformers, and Automotive Components), and Region (North America, Europe, APAC, and RoW) - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The impregnating resins market is projected to grow from USD 1.5 billion in 2018 to USD 2.0 billion by 2023, at a CAGR of 6.4% from 2018 to 2023.
The growth of this market can be attributed to the technological advancements in the automotive industry. Another factor driving the impregnating resins market is the augmentation and modernization of the transmission & distribution network.
However, factors such as the volatility of raw material prices and less efficiency of solvent-based resin system are restraining the growth of the market. Most of the raw materials used in the production of impregnating resins are petroleum products. The prices of these raw materials have been highly volatile in recent times, touching a five-year low, which affected the growth of the market.
Solventless is projected to be the fastest-growing type segment during the forecast period. The resin system offers various advantages such as stability at room temperature, high reactivity, adaptability on any type of machine and process, high resin film build, and excellent technical properties oven other resin systems. The high growth of this market can be attributed to the increasing demand from electrical & electronics industry in emerging economies such as China and India.
The large consumption of the motors and generators in various sectors such as industrial, agriculture, residential, commercial, and transportation is driving the market in motors and generators application. The growing urbanization and industrialization are responsible for the high demand for motors and generators application in the emerging economies, which, in turn, is expected to increase the demand for impregnating resins.
Strong automotive and electrical & electronics manufacturing base is responsible for the large market share of the North American region. The US is the largest market in North America owing to its well-established industrial base. The slow growth rate in the North American and European markets is expected to affect the demand for impregnating resins in these regions during the forecast period.
The report profiles several leading players of the impregnating resins market that include Elantas GmbH (Germany), Axalta Coating Systems (US), Von Roll Holdings AG (Switzerland), Hitachi Chemicals Company Ltd. (Japan), and Kyocera Corporation (Japan).
The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the impregnating resins market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Introduction
4 Premium Insights
4.1 Attractive Opportunities in the Impregnating Resins Market
4.2 Impregnating Resins Market, By Type
4.3 Impregnating Resins Market, By Application
4.4 Impregnating Resins Market, By Region
4.5 North American Impregnating Resins Market, By Application and Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancement in the Automotive Industry
5.2.1.2 Augmentation and Modernization of the Transmission & Distribution Network
5.2.1.3 Increasing Demand for Electricity, Globally
5.2.1.4 Growth of Renewable Energy
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.2.2 Less Efficiency of Solvent-Based Resin Systems
5.2.3 Opportunities
5.2.3.1 Adopting Smart Grid Technology
5.2.3.2 Product Innovation and Continuous R&D
5.3 Porter's Five Forces Analysis
6 Impregnating Resins Market, By Type
6.1 Introduction
6.2 Solvent-Based
6.2.1 Increased Use in Emerging Countries to Drive the Demand
6.3 Solventless
6.3.1 Increased Use in Developed Regions and Eco-Friendly Properties to Drive the Demand
6.4 Others
6.4.1 Need for Eco-Friendly Solutions in Automotive and Electrical & Electronics Industries to Drive the Demand
7 Impregnating Resins Market, By Application
7.1 Introduction
7.2 Motors and Generators
7.2.1 Rapid Urbanization and Industrialization to Drive Demand in the Motors and Generators Application
7.3 Transformers
7.3.1 Smart Grids and Increasing Electricity Demand to Drive the Market During the Forecast Period
7.4 Home Appliances
7.4.1 Increasing Consumer Demand and Urbanization to Drive the Market Between 2018 and 2023
7.5 Automotive Components
7.5.1 Increasing Demand and Innovative Technologies to Drive the Market
7.6 Others
7.6.1 Increasing Demand in Construction Industry to Drive the Market During the Forecast Period
8 Impregnating Resins Market, By Region
9 Competitive Landscape
9.1 Overview
9.2 Market Ranking of Key Players
9.2.1 Elantas
9.2.2 Axalta Coating Systems
9.2.3 Von Roll Holdings
9.2.4 Hitachi Chemicals
9.2.5 Kyocera Corporation
9.3 Competitive Situations & Trends
10 Company Profiles
10.1 Elantas
10.2 Axalta Coating Systems
10.3 Von Roll Holdings
10.4 Hitachi Chemicals
10.5 Kyocera Corporation
10.6 3M Company
10.7 AEV
10.8 Momentive
10.9 Vuki
10.10 Wacker Chemie
10.11 Other Players
- Aditya Birla Chemicals
- Bodo Moller Chemie Group
- Denmark Group
- Ranbar Electrical Materials
- Robnor Resinlab
For more information about this report visit https://www.researchandmarkets.com/research/zmzwg7/impregnating?w=4
