DUBLIN--(BUSINESS WIRE)--The "Impregnating Resins Market by Type (Solventless, Solvent Based), Application (Motors & Generators, Home Appliances, Transformers, Automotive Components), Region (North America, APAC, Europe, MEA, South America) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global market size of impregnating resins was USD 1,258.8 million in 2019 and is projected to register a CAGR of 6.5% between 2020 and 2025 due to the increasing demand in automotive and electronic components.
Rapid industrialization in emerging economies, decentralization & decarbonization of the energy sector in developed economies, and growing demand for electric vehicles is propelling the global impregnating resins market. Furthermore, the replacement of old transmission & distribution infrastructure in developed countries coupled with increasing electrification in emerging economies is also boosting the demand for impregnating resins. However, the price and availability of raw materials can hinder the growth of the market.
The solventless type segment is estimated to be the largest type segment of impregnating resins during the forecast period.
The solventless type segment accounts for the largest market share, in terms of value and volume, in the impregnating resins market. This segment includes monomer-based epoxy, alkyd, unsaturated polyester, and other resins. These resin formulations have low viscosity that ensures fast and deep impregnation of rotational machines. Advantages offered by solventless impregnation, such as room temperature impregnation, excellent stability, very high reactivity, and versatile processability, are boosting the consumption of these resins.
The automotive components segment is expected to be the fastest-growing impregnating resins application during the forecast period.
The automotive components segment is projected to grow with the highest CAGR during the forecast period. Impregnating resins are used in automotive components for the impregnation of starters & alternators in conventional vehicles and electric motors in electric vehicles. Accelerated decarbonization and stringent regulations to reduce greenhouse gas emission (GHG) are propelling the demand for electric vehicles, which ultimately boosts the consumption of impregnating resins. Also, government initiatives such as the development of charging infrastructure and subsidized sales of electric vehicles are also driving the impregnating resins market.
Europe is estimated to be the largest consumer of impregnating resins during the forecast period.
Europe is estimated to be the largest impregnating resins market in terms of value. Decentralization and decarbonization of the energy sector in the region, rising demand for automotive components, and stringent government regulations to curb pollution levels and to reduce the need for expensive fossil fuels are the primary drivers of the impregnating resins market in the region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Suppliers
5.3.4 Bargaining Power of Buyers
5.3.5 Intensity of Competitive Rivalry
6 Impregnating Resins Market, By Type
6.2 Solvent-Based Resins
6.3 Solvent-Less Resins
6.4.1 Solvent-Free Resins/ Voc-Free Resins
6.4.2 Water Based Resins
7 Impregnating Resins Market, By Application
7.2 Motors & Generators
7.4 Home Appliances
7.5 Automotive Components
8 Impregnating Resins Market, By Region
8.2.4 South Korea
8.2.6 Rest of APAC
8.3 North America
8.4.6 Rest of Europe
8.5 Middle East & Africa
8.5.1 Saudi Arabia
8.5.2 South Africa
8.5.4 Rest of Middle East & Africa
8.6 South America
8.6.3 Rest of South America
9 Competitive Landscape
10 Market Ranking of Key Players
10.1 Competitive Situation and Trends
11 Company Profiles
11.1 Axalta Coating Systems Germany Gmbh & Co. Kg
11.2 Elantas Gmbh
11.3 Von Roll Holding Ag
11.6 Hitachi Chemical Co., Ltd.
11.7 Kyocera Corporation
11.8 Aev Ltd.
11.10 Wacker Chemie Ag
11.11.3 Aditya Birla Chemicals
11.11.5 Chuo Hatsumei Institute Co., Ltd.
11.11.6 Jyoti Enterprises
11.11.7 Robnor Resinlab
11.11.8 Polymer Composites Inc.
11.11.9 Bawa Polymers
For more information about this report visit https://www.researchandmarkets.com/r/4xwtkb