The global impregnating resins market was valued at USD 1,387.3 Million in 2020 and is expected to reach USD 2,276.9 Million by year 2028, at a CAGR of 6.4%.

NEW YORK CITY, NY, UNITED STATES, September 21, 2021 /EINPresswire.com/ -- Reports and Data’s latest industry analysis report offers vital data and information relating to the global Impregnating Resins industry. Authors of the study have precisely evaluated the market size and revenue growth rate over the forecast period. The study specializes in detailed analysis of the market and highlights the key market dynamics including drivers, restraints, opportunities, supply & demand ratios, upcoming market trends, technological innovations, and value chain analysis.

The study covers in-depth analysis of impregnating resins market and discusses about the its usage. Impregnating Resins which are also known as secondary insulation materials, are thermosetting resins are also widely used in electric devices to provide electrical insulation and structural integrity for operation. Key recent development in the global impregnating resins market related to thermal class and form of the product for highly efficient service providing in insulation process has led to an increase in the overall growth of the market across the globe. The expansion in the production capacity of impregnating resins is further anticipated to generate remunerative incremental market opportunities for the impregnating resins market.

The global market is propelled by a number of key factors such as increasing demand for electricity, technological advancements in automotive industry largely electric generators and motors, growing popularity of smart grid technology. Increasing carbon emissions by vehicles across the globe has led to rise in the awareness of using electric automobiles. Further stringent environmental restrictions on carbon emissions to lessen the impact on environment has forced many countries to launch new electrical vehicles which in turn has increased the demand for electric motors.

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Key players include:
Elantas, Axalta, Von Roll Holdings, Hitachi Chemicals, Kyocera corporation.

Further key findings from the report suggest
Asia Pacific region accounts for the largest share (39.6%) in the global impregnating resins market because of increasing population, rapid industrialization and growth in the industries such as chemicals, automotive industries. Due to the presence of technological advancements used for manufacturing products and cost -effective product availability, China is one of the largest players in the impregnating resins global market.

North America is the key player which holds 33.1% owing to its advanced automobile industry sector and increasing demand for electric vehicles. Europe accounts for 21.5 % of the total market share.

Middle east and African countries hold the lowest market shares in the impregnating resins market accounting for only 0.9% of the total market share.

Solvent less type of impregnating resins accounted for 68 % which makes it the fastest growing segment in 2017 and is expected to grow at a significant CAGR during the forecast period because of number of factors. For instance, increasing demand in electrical and electronics industry due to benefits such as high reactivity, excellent stability, low viscosity, room temperature impregnation, high resin film builds and slot fill, and advanced technical properties among others. It helps in reducing VOC emissions. Also, the market players have developed new generation water based impregnating resins to reduce VOC emissions. Solvent based resins account for only 33.3 % of the total market share.

Solvent less resins are very reactive resins with monomers which may be considered as VOC (Volatile organic compounds). In comparison to varnishes, solvent less resins show low viscosity specification which helps to quick penetration and draining. They account for 33.3%of the total market share.

In case of application, motors hold the highest share (67.4% of the market share) in the global impregnating resins market due to increase in the demand for electric vehicles. Generators are the second highest revenue generating segment in the impregnating resins market accounting for 19.3% of the total market share.

Transformers hold the lowest market share in the global impregnating resins market. (1.6%)

Automotive components are the fastest growing segment owing to rise in the demand for the electric vehicles to reduce carbon emissions globally.

Impregnating resins appear to be redundant, applied to already insulated components. They provide several benefits that improve the performance and lifespan of the electronic instruments.

In addition to that, it provides protection from mechanical damage and dampens vibrations in the windings. They also prevent moisture and contamination from lodging between coils and components and damaging the insulation.

Epoxy impregnation resin, (a solvent free V.O.C), a single component, is one of the popular and most suited for all equipments used in harsh environments and for user. In addition to these qualities it is high resistant to chemicals and moisture.

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For the purpose of this report, Reports and Data has segmented the impregnating resins market on the basis of form, type, application and region:
Form (Revenue, USD Million; 2020–2028)

Solventless

Solvent based

Type (Revenue, USD Million; 2020–2028)

Phenol formaldehyde

Urea formal dehyde

Melamine formaldehyde

Thermal Class (Revenue, USD Million; 2020–2028)

Less than 130 ° Celsius

130° Celsius and 180 ° Celsius

More than 180 ° Celsius

Application (Revenue, USD Million; 2020–2028)

Motors

Generators

Automotive and electronic components

Home appliances

Transformers

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Regional Outlook (Revenue in USD Million; 2020–2028)

North America

Europe

Asia Pacific

Middle East & Africa

Latin America

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