Impregnating Resins Market

Increasing usage in the electrical and electronics segment, recovering automotive production, continuous advancements in impregnating resins

VANCOUVER, BRITISH COLUMBIA, CANADA, June 3, 2024 /EINPresswire.com/ -- The global impregnating resins market size was USD 1.76 Billion in 2022 and is expected to register a revenue CAGR of 5.9% during the forecast period. The global impregnating resins market is poised for significant growth, driven by increased demand in the electrical and electronics sectors, recovering automotive production, and continuous advancements in resin technology. Impregnating resins, known for their essential qualities such as electrical insulation, weather resistance, and mechanical stability, are becoming a critical component in various applications.

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Key Market Drivers

Electrical and Electronics Sector

The electrical and electronics segment significantly contributes to the market’s revenue growth. Impregnating resins enhance insulation, protect against vibrations, and improve resistance to temperature variations and mechanical stress in windings and copper wires. This minimizes the risk of short circuits and ensures electrical integrity in integrated circuits, transistors, and printed circuit boards.

Automotive Industry

The automotive industry’s increasing production demands further propel the market. Impregnating resins are favored for their superior strength and modulus, which surpass traditional insulating materials. They are widely used in insulating electric and automotive components due to their high productivity, quick mixing times, and energy-efficient batch processing.

Infrastructure Upgrades

In the United States, infrastructure upgrades and the integration of advanced electrical equipment boost the demand for impregnating resins. The installation of electrical grids, necessitated by the need for widespread electricity distribution, drives the use of transformers that require these resins for enhanced thermal performance and regulation.

Electric Vehicles

The growing demand for electric vehicles, driven by environmental concerns, also benefits the impregnating resins market. These vehicles rely on motor and rotor assemblies that need effective insulation, increasing the demand for impregnating resins in the automotive sector. The combination of increased automotive production, infrastructure modernization, and the shift towards renewable energy sources creates a favorable market environment.

Market Challenges

Raw Material Availability and Costs The market faces challenges due to the limited availability and high cost of premium raw materials. Volatility in raw material prices can compromise the quality of impregnating resins, leading to potential issues for both suppliers and consumers. This instability, coupled with limited consumer awareness, poses a significant barrier to market growth.

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Market Segmentation Insights

Resin Types The global impregnating resins market is segmented by resin types, including phenol formaldehyde, urea formaldehyde, and melamine formaldehyde resins.

• Phenol Formaldehyde Resins: Expected to dominate the market due to their excellent thermal insulation, low density, and durability. These resins are widely used in various industries for their fire resistance, low smoke emission, and robust heat and chemical resistance.

• Melamine Formaldehyde Resins: Known for their heat and fire-resistant properties, these resins are used in wood modification. Despite their benefits, the high free formaldehyde content poses challenges, necessitating the addition of urea to comply with safety regulations.

Resin Forms The market is also segmented by resin form, including solventless and solvent-based impregnating resins.

• Solventless Resins: Expected to dominate due to their high reactivity, stability, and superior technical properties compared to solvent-based resins. They are extensively used in coating electrical machine windings and in electronic component manufacturing.

Applications The global market is segmented by application, including motors and generators, home appliances, transformers, and automotive components.

• Automotive Segment: Accounted for the largest market share in 2022, driven by technological advancements and the commercialization of electric vehicles. Impregnating resins are essential in insulating components in both traditional and electric vehicles.

• Motor Segment: Anticipated to show steady growth due to the increasing demand for effective insulation that enhances motor durability and efficiency. Impregnating resins improve insulation, reduce vibration, and extend motor life.

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Impregnating Resins Top Companies and Competitive Landscape

The global impregnating resins market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Impregnating resins.

Some of the major companies included in the global impregnating resins market report are:

• Henkel AG & Co. KGaA
• Bodo Möller Chemie GmbH
• 3M Company
• KYOCERA Corporation
• Solvay
• Von Roll
• Altana
• Hitachi, Ltd
• ITW Performance Polymers
• Hexiom
• DuPont
• Wacker Chemie AG
• Huntsman International LLC
• BASF SE
• Momentive Performance Materials Inc.
• Robnor ResinLab Ltd
• VUKI a.s.
• Axalta Coating Systems
• Nippon Rika Industries Corporation

Impregnating Resins Latest Industry News

• In April 2023, BASF SE and SWISS KRONO Group are strengthening their long-term partnership by developing more sustainable solutions and processes. Both partners are collaborating to reduce the carbon footprint of the wood-based panel industry by developing innovative products and calculating the product carbon footprint (PCF). BASF is the first and only supplier of these glues and impregnating resins on the market.

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Impregnating Resins Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global impregnating resins market on the basis of type, technology, application, end-use, and region:

• Resin Type Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Phenol-Formaldehyde Resins
o Urea-Formaldehyde Resins
o Melamine-Formaldehyde Resins
• Form Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Solventless
o Solvent Based Impregnating Resins
• Application Outlook (Revenue, USD Billion, Volume, Kilotons; 2019-2032)
o Motors & generators
o Home appliances
o Transformers
o Automotive components
• Regional Outlook (Revenue, USD Billion, Volume, Kilotons; 2019–2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

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