New York, NY, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a recent study report titled "Impregnating Resins Market Share, Size, Trends, Industry Analysis Report, By Form (Solventless, Solvent-based); By Type (Polyurethane, Epoxy); By Application; By Region, And Segment Forecasts, 2023 - 2032" in its research database.
As per the recent [115+ Pages] analysis by Polaris Market Research, the global impregnating resins market size and trends was valued at USD 1.84 Billion in 2022 and is predicted to reach USD 3.30 Billion by 2032. Also, the study states that the market reveals a robust 6.0% Compound Annual Growth Rate (CAGR) over the predicted timeframe, 2023-2032.
What are Impregnating Resins? How Big is the Impregnating Resins Market Size?
- Overview
Impregnating resins are organic liquids that are diluted with reactive thinners. They are also known as secondary insulation materials as they strengthen the copper enamel that’s described as the first insulation. The primary job of impregnating resins is to improve the mechanical performance and stability of wire windings, laminated cores, and other insulated materials. Also, they provide improved electrical and thermal performances in wire windings, slot insulation, and iron core.
There are several types of impregnating resins available in the impregnating resins market. They include polyurethane, polyester, epoxy, polyesterimide, and others. Impregnating resins are used for several applications, like motors and rotors in vehicle powertrain systems and transformers in electricity distribution. Also, they’re used to improve the mechanical stability and heat transfer in household appliances as well.
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What are the Key Findings of the Report?
- The need for motors, generators, and industrial machinery to be highly productive and have a longer lifespan is one of the primary factors driving the growth of the impregnating resins industry.
- The impregnating resins market segmentation is primarily based on form, type, application, and region.
- Asia Pacific is anticipated to exhibit the highest growth rate over the forecast period.
Who Produces Impregnating Resins?
- 3M
- Aditya Birla Group
- ADVANCED ELECTRICAL VARNISHES
- Axalta Coating Systems Germany
- BASF
- Bawa Polymers
- Bodo Möller Chemie GmbH.
- ELANTAS
- Henkel AG
- Huntsman International
- JYOTI ENTERPRISES
- Momentive Performance Materials
- Robnor ResinLab
- VON ROLL
- VUKI a.s.
- Wacker Chemie
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Key Market Dynamics
Which Factors are Driving the Market Growth?
The impregnating resins market growth is primarily driven by the rising adoption of impregnating resins in the electrical and electronics sectors. This can primarily be attributed to the growing emphasis on enhancing the protection, insulation, and performance of electronic devices. Impregnating resins have excellent dielectric characteristics and can effectively resist moisture and chemicals. As such, they are widely used to safeguard critical electronic devices from environmental factors and ensure long-term stability.
Rapid advances in electronic technologies, the growing popularity of electric vehicles (EVs), and the miniaturization of electronic devices are other factors bolstering the impregnating resins market size. Electric vehicles rely on impregnating resins for insulating important components like rotors and motors. By offering adequate insulation, impregnating resins improve the overall safety, durability, and performance of EVs.
What are the Latest Market Trends and Opportunities?
A rise in the installation of electric grids nationwide has led to an increase in the demand for transformers. Transformers are crucial to adjusting voltages to accommodate fluctuating power generated from renewable sources. The rising demand for transformers has also boosted the need for impregnating resins, which are used in transformers to enhance performance and thermal regulation. This, in turn, is impacting the impregnating resins market demand favorably.
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Overview of the Top Segments
- Solvent-Less Resins Segment Accounted for the Largest Market Share
Solvent-less impregnating resins have increased in popularity owing to their unique characteristics. Unlike their solvent-based counterparts, these resins are free from harmful solvents or volatile organic compounds (VOCs). This makes them environmentally friendly and safe to use and aligns with the rising worldwide emphasis on sustainable practices and eco-friendly solutions.
Solvent-less resins offer enhanced performance when it comes to adhesion, insulation, and durability. They ensure the safety and efficiency of electrical components with their excellent electric insulation characteristics. In addition, they showcase great adhesion to different substrates, improving the overall stability of insulated components.
- Epoxy Resins Segment Witnessed the Greatest Market Share
By type, the epoxy-resins segment accounted for the largest impregnating resins market share. Epoxy-based resins are known for their excellent chemical resistance, high thermal resistance, and top-notch electrical insulation characteristics. The exceptional chemical resistance of these resins makes them resistant to a wide range of substances and chemicals. Also, the remarkable chemical resistance ensures the materials on which they’re applied remain durable and have a long life span.
Epoxy-based impregnating resins showcase excellent thermal stability. This means they can effectively withstand high temperatures. The structural integrity of these resins is maintained even if the temperature goes over 204 degrees Celsius. As a result, they are ideal for applications where the materials are frequently exposed to elevated temperatures.
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Impregnating Resins Market Outlook & Scope
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 3.30 Billion |
| Market size value in 2023 | USD 1.95 Billion |
| Expected CAGR Growth | 6.0% from 2023 – 2032 |
| Forecast Year | 2023 – 2032 |
| Segments Covered | By Form, By Type, By Application, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Regional Landscape
Asia Pacific: The impregnating resins market in the Asia Pacific region is anticipated to grow at a rapid pace throughout the forecast period. This is primarily because of the high population concentration in the region, especially in developing economies like India and China. An increase in disposable income and significant adoption of electric vehicles have remarkably fueled the region’s impregnating resins demand. Furthermore, favorable government initiatives offering subsidies as incentives have led to increased requirements for impregnating resins used in vehicle powertrain systems.
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Current Progresses
Leading sustainable fiber solutions provider Ahlstrom introduced its novel impregnation named Ahlstrom ECO in April 2023. Developed using renewable lignin, the new product aims at decreasing reliance on resins derived from fossil fuels.
Report Answers to the Following Questions
- What is the study period for the impregnating resins market?
- What are the major factors driving the market growth?
- Who are the key players operating in the industry?
- At what CAGR is the impregnating resins market anticipated to grow?
- Which segment will account for the highest market share?
Polaris Market Research has segmented the impregnating resins market report based on form, type, application, and region:
By Form Outlook
- Solventless
- Solvent-based
By Type Outlook
- Polyurethane
- Polyester
- Epoxy
- Polyesterimide
- Others
By Application Outlook
- Powertrain System
- Home Appliances
- Transformer
- Others
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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