Global Impregnating Resins Market is expected to rise from its initial estimated value of USD 1.5 billion in 2018 to an estimated value of USD 2.47 billion by 2026, registering a CAGR of 6.47% in the forecast period of 2019-2026. Increasing demand for electricity is the major factor for the growth of this market.
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Market Definition: Global Impregnating Resins Market
Impregnating resins or secondary insulation material is the liquid resins that get diluted with the reactive thinners. They have high mechanical stability and provide protection from climate influences. They are also used in generators, electric motors and transformers. They provide protection to resin and improve heat transfer between wires wending, iron cores and slot insulations.
Key Market Competitors: Global Impregnating Resins Market
Few of the major competitors currently working in impregnating resins market are ALTANA, Axalta Coating Systems, LLC, Von Roll Holding AG, Hitachi Chemical Co, Ltd., 3M, KYOCERA Corporation, AEV Ltd, Momentive, VUKI a.s.., Wacker Chemie AG., Aditya Birla Chemicals, GABRIEL and Robnor ResinLab Ltd.
Key Developments in the Market:
- In October 2017, electrolube announce the launch of their new conformal coatings and resins. The coating series include 2K350 and 2K550 polyurethane coatings and resins include UR5640 and UR5641.
- In September 2016, Axalta Coatings Systems announce the launch of their first waterborne impregnating resins Voltahyd 2250 Series T, M and E electrical insulations coatings. This new product is more environmentally responsible than conventional products.
- They are moisture resistant and have ability to withstand in different temperature.
- Impregnating resins are also used for wood modification treatment in forest product industry.
- The efficiency of solvent- based resin systems is very less.
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Global impregnating resins market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of impregnating resins market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Segmentation: Global Impregnating Resins Market
- By Form
- Solvent- Based
- Solvent-Free Resins
- By Application
- Motors & Generators
- Home Appliances
- Wind Energy
- Automotive & Electronic Component
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
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