Impregnating Resins Market by Type (Solventless, Solvent-based), Application (Motors and Generators, Home Appliances, Transformers, and Automotive Components), and Region (North America, Europe, APAC, and RoW) - Global Forecast to 2023
The study involved four major activities in estimating the current market size for impregnating resins. The exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation methodologies were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as Hoovers and Bloomberg BusinessWeek have been referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, and databases.
Primary Research&
The impregnating resins market comprises several stakeholders such as raw material suppliers, distributors of impregnating resins, plastic and resin associations, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market consists of manufacturers of automotive components, home appliances, motors, generators, and transformers, whereas the supply side consists of various resin systems manufacturers. Various primary sources from both, the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the impregnating resins market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research.
- The industrys supply chain and market size, in terms of value and volume, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation
After arriving at the overall market size using the market size estimation processes as explained abovethe market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides, in the electrical & electronics and automotive industries.
Objectives of the Study:
- To define, describe, and forecast the impregnating resins market in terms of value and volume
- To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, and opportunities)
- To analyze and forecast the market by type and application
- To forecast the size of the market with respect to four regions, namely, Asia Pacific (APAC), Europe, North America, and Rest of the World (RoW) along with their key countries
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contribution to the total market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
- To analyze competitive developments, such as new product launch, investment & expansion, and acquisition in the market
- To strategically profile key players and comprehensively analyze their market shares and core competencies2
Note1: Micromarkets are the subsegments of the impregnating resin market included in the report
Note2: Core competencies of companies are determined in terms of their key developments, SWOT analysis, and key strategies adopted by them to sustain in the market
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Report Metric |
Details |
|
Market size available for years |
2016-2023 |
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Base year considered |
2017 |
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Forecast period |
2018-2023 |
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Forecast units |
Value(USD) and Volume(kiloton) |
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Segments covered |
Type, Application, and Region |
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Geographies covered |
North America, APAC, Europe, and RoW |
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Companies covered |
Elantas GmbH (Germany), Axalta Coatings System (US), Von Roll Holdings AG (Switzerland), Hitachi Chemicals Company Ltd. (Japan), and Kyocera Corporation (Japan) |
Scope< of the Report
This research report categorizes the impregnating resins market based on type, application, and region.
On the basis of Type, the impregnating resins market has been segmented as follows:
- Solventless
- Solvent-based
- Others (waterborne and solvent-free resins)
On the basis of Application, the impregnating resins market has been segmented as follows:
- Motors and generators
- Home appliances
- Transformers
- Automotive components
- Others (electric tools and power tools)
On the basis of Region, the impregnating resins market has been segmented as follows:
- Europe
- North America
- APAC
- RoW
Available Customizations:
With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:
Regional Analysis:
- Country-level analysis of the impregnating resins market is provided by application.
Company Information:
- Detailed analysis and profiles of additional market players.
The market size of impregnating resins is expected to be USD 1.5 billion in 2018 and is projected to reach USD 2.0 billion by 2023, at a CAGR of 6.4% from 2018 to 2023. Technological advancements in the automotive industry and increasing demand for electricity are the key factors driving the impregnating resins market, globally. In addition, augmentation and modernization of the transmission & distribution network will boost the market, globally.
By type, the solventless segment is expected to be the largest contributor, in terms of volume, in the impregnating resins market during the forecast period.
The solventless segment is estimated to account for the largest share of the impregnating resins market during the forecast period. The high market share of solventless impregnating resins is due to their superior performance such as stability at room temperature, high reactivity, adaptability on any type of machine and process, high resin film build, and excellent technical properties when compared with other impregnating resins.
By application, automotive components is expected to be the fastest-growing segment, in terms of volume, in the impregnating resins market during the forecast period.
The automotive components is projected to be the fastest-growing application during the forecast period. The growth of this segment can be attributed to the technological advancement in the automotive industry. For instance, Nissan (model name: Leaf), GM (model name: Bolt), and Tesla Motors have successfully commercialized electric vehicles in the passenger car market. Changsha BYD Coach Company, Ltd. (China), a commercial passenger vehicle manufacturer, sells passenger buses in the global market.
Europe is projected to be the largest market, in terms of value, during the forecast period
Europe is the major revenue generating region in the global impregnating resins market owing to its large industrial base. APAC is the fastest-growing impregnating resins market, globally. The growth of the APAC impregnating resins market can be attributed to the augmentation and modernization of the transmission & distribution network and increasing demand for electricity in the region. In addition, several initiatives undertaken by the governments of different countries of the region to attract investments from various international companies are also expected to propel the growth of the APAC impregnating resins market during the forecast period.
Elantas GmbH (Germany), Axalta Coatings System (US), Von Roll Holdings AG (Switzerland), Hitachi Chemicals Company Ltd. (Japan), and Kyocera Corporation (Japan) are the key players operating in the impregnating resins market.
These companies have adopted various organic as well as inorganic growth strategies between 2015 and 2018 to strengthen their position in the market. Investments & expansions was among the key growth strategies adopted by these leading players to enhance their regional presence and meet the growing demand for impregnating resins from emerging economies.
Recent Developments
- In October 2018, Kyocera Corporation (Japan) announced to build a manufacturing plant in Kanagawa, Japan. The facility increased the companys capacity by 50% for conductive and insulation pastes utilized in various applications such as semiconductors, digital devices, automotive electronics, and energy products. The development will help the company to cater to the increasing demand for impregnating resins globally.
- In February 2018, 3M Company opened a new innovation center in Washington, D.C. which will help the company to provide solutions for specific customer needs and will help the company to gain a competitive edge.
- In April 2017, Hitachi Chemicals (Japan) acquired ISOLITE GmbH (Germany), a thermal insulation manufacturer for automobiles, aircraft, and other industrial applications. The development helped the company to take advantage of ISOLITEs manufacturing bases and sales network in Europe and accelerate the promotion of the companys automotive products in the European market.
- In December 2016, Axalta Coating Systems (US) introduced Voltaprem 5000 for the insulation of medium- and high-voltage equipment. Voltaprem is a highly advanced resin which will meet all the regulatory requirements in Europe, the Middle East, Africa, APAC, and the Americas. The development strengthened the companys product portfolio.
Critical questions the report answers:
- What are the upcoming hot bets for impregnating resins market?
- How is market dynamics changing for different types of impregnating resins?
- How is market dynamics changing for different applications of impregnating resins?
- Who are the major manufacturers of impregnating resins?
- How is market dynamics changing for different regions of impregnating resins?
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 14)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Unit Considered
1.6 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions and Limitations
2.4.1 Assumptions
2.4.2 Limitations
3 Executive Summary (Page No. - 26)
3.1 Introduction
4 Premium Insights (Page No. - 29)
4.1 Attractive Opportunities in the Impregnating Resins Market
4.2 Impregnating Resins Market, By Type
4.3 Impregnating Resins Market, By Application
4.4 Impregnating Resins Market, By Region
4.5 North American Impregnating Resins Market, By Application and Country
5 Market Overview (Page No. - 32)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Technological Advancement in the Automotive Industry
5.2.1.2 Augmentation and Modernization of the Transmission & Distribution Network
5.2.1.3 Increasing Demand for Electricity, Globally
5.2.1.4 Growth of Renewable Energy
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.2.2 Less Efficiency of Solvent-Based Resin Systems
5.2.3 Opportunities
5.2.3.1 Adopting Smart Grid Technology
5.2.3.2 Product Innovation and Continuous R&D
5.3 Porters Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threats 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 (Page No. - 38)
6.1 Introduction
6.2 Solvent-Based
6.2.1 Increased Use in Emerging Countries to Drive the Demand
6.3 Solventless
6.3.1 Increased Use in Developed Regions and Eco-Friendly Properties to Drive the Demand
6.4 Others
6.4.1 Need for Eco-Friendly Solutions in Automotive and Electrical & Electronics Industries to Drive the Demand
7 Impregnating Resins Market, By Application (Page No. - 42)
7.1 Introduction
7.2 Motors and Generators
7.2.1 Rapid Urbanization and Industrialization to Drive Demand in the Motors and Generators Application
7.3 Transformers
7.3.1 Smart Grids and Increasing Electricity Demand to Drive the Market During the Forecast Period
7.4 Home Appliances
7.4.1 Increasing Consumer Demand and Urbanization to Drive the Market Between 2018 and 2023
7.5 Automotive Components
7.5.1 Increasing Demand and Innovative Technologies to Drive the Market
7.6 Others
7.6.1 Increasing Demand in Construction Industry to Drive the Market During the Forecast Period
8 Impregnating Resins Market, By Region (Page No. - 48)
8.1 Introduction
8.2 North America
8.2.1 Us
8.2.1.1 US Accounted for the Largest Market Size for Impregnating Resins in North America
8.2.2 Canada
8.2.2.1 New Technologies and Improved Investments By the Government Will Drive the Market
8.2.3 Mexico
8.2.3.1 Automotive Components and Home Appliances Applications to Drive the Impregnating Resins Market
8.3 Europe
8.3.1 Germany
8.3.1.1 Rapid Growth of the Electrical & Electronics Industry to Drive the Impregnating Resins Market
8.3.2 France
8.3.2.1 Automotive Components Application to Grow at A High Rate in the Impregnating Resins Market in France
8.3.3 Spain
8.3.3.1 Rising Global as Well as Domestic Demand for Automobiles Will Drive the Impregnating Resins Market
8.3.4 UK
8.3.4.1 Strong Automotive and Electrical & Electronics Manufacturing Bases Drive the Impregnating Resins Market
8.3.5 Italy
8.3.5.1 Investment in Renewable Energy Will Drive the Impregnating Resins Market
8.3.6 Rest of Europe
8.4 APAC
8.4.1 China
8.4.1.1 China Accounted for the Largest Market Share of Impregnating Resins in APAC
8.4.2 Japan
8.4.2.1 Growth in Demand for Electric Cars and Technological Developments Will Drive the Impregnating Resins Market
8.4.3 India
8.4.3.1 Rapid Growth in the Industrial Sector to Propel the Impregnating Resins Market in India
8.4.4 Taiwan
8.4.4.1 Augmentation and Modernization of the Transmission & Distribution Network to Propel the Market
8.4.5 Rest of APAC
8.5 RoW
8.5.1 Brazil
8.5.1.1 Strong Automotive Manufacturing Base in the Region is Responsible for the Large Market Share of the Country
8.5.2 South Africa
8.5.2.1 Growth in Renewable Energy Will Drive the Impregnating Resins Market
8.5.3 Others
9 Competitive Landscape (Page No. - 78)
9.1 Overview
9.2 Market Ranking of Key Players
9.2.1 Elantas
9.2.2 Axalta Coating Systems
9.2.3 Von Roll Holdings
9.2.4 Hitachi Chemicals
9.2.5 Kyocera Corporation
9.3 Competitive Situations & Trends
9.3.1 New Product Launch
9.3.2 Investment & Expansion
9.3.3 Acquisition
10 Company Profiles (Page No. - 83)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
10.1 Elantas
10.2 Axalta Coating Systems
10.3 Von Roll Holdings
10.4 Hitachi Chemicals
10.5 Kyocera Corporation
10.6 3M Company
10.7 AEV
10.8 Momentive
10.9 Vuki
10.10 Wacker Chemie
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
10.11 Other Players
10.11.1 Aditya Birla Chemicals
10.11.2 Bodo Moller Chemie Group
10.11.3 Denmark Group
10.11.4 Ranbar Electrical Materials
10.11.5 Robnor Resinlab
11 Appendix (Page No. - 105)
11.1 Discussion Guide
11.2 Knowledge Store: Marketsandmarkets Subscription Portal
11.3 Introducing RT: Real-Time Market Intelligence
11.4 Available Customizations
11.5 Related Reports
11.6 Author Details
List of Tables (63 Tables)
Table 1 Impregnating Resins Market Size, By Type, 20162023 (Kiloton)
Table 2 Impregnating Resins Market Size, By Type, 20162023 (USD Million)
Table 3 Impregnating Resins Market Size, By Application, 20162023 (Kiloton)
Table 4 Impregnating Resins Market Size, By Application, 20162023 (USD Million)
Table 5 Impregnating Resins Market Size, in Motors and Generators, By Region, 20162023 (Kiloton)
Table 6 Impregnating Resins Market Size, in Motors and Generators, By Region, 20162023 (USD Million)
Table 7 Impregnating Resins Market Size in Automotive Components, By Region, 20162023 (Kiloton)
Table 8 Impregnating Resins Market Size, in Automotive Components, By Region, 20162023 (USD Million)
Table 9 Impregnating Resins Market Size, By Region, 20162023 (Kiloton)
Table 10 Impregnating Resins Market Size, By Region, 20162023 (USD Million)
Table 11 North America: By Market Size, By Country, 20162023 (Kiloton)
Table 12 North America: By Market Size, By Country, 20162023 (USD Million)
Table 13 North America: By Market Size, By Application, 20162023 (Kiloton)
Table 14 North America: By Market Size, By Application, 20162023 (USD Million)
Table 15 US: By Market Size, By Application, 20162023 (Kiloton)
Table 16 US: By Market Size, By Application, 20162023 (USD Million)
Table 17 Canada: By Market Size, By Application, 20162023 (Kiloton)
Table 18 Canada: By Market Size, By Application, 20162023 (USD Million)
Table 19 Mexico: By Market Size, By Application, 20162023 (Kiloton)
Table 20 Mexico: By Market Size, By Application, 20162023 (USD Million)
Table 21 Europe: By Market Size, By Country, 20162023 (Kiloton)
Table 22 Europe: By Market Size, By Country, 20162023 (USD Million)
Table 23 Europe: By Market Size, By Application, 20162023 (Kiloton)
Table 24 Europe: By Market Size, By Application, 20162023 (USD Million)
Table 25 Germany: By Market Size, By Application, 20162023 (Kiloton)
Table 26 Germany: By Market Size, By Application, 20162023 (USD Million)
Table 27 France: By Market Size, By Application, 20162023 (Kiloton)
Table 28 France: By Market Size, By Application, 20162023 (USD Million)
Table 29 Spain: By Market Size, By Application, 20162023 (Kiloton)
Table 30 Spain: By Market Size, By Application, 20162023 (USD Million)
Table 31 UK: By Market Size, By Application, 20162023 (Kiloton)
Table 32 UK: By Market Size, By Application, 20162023 (USD Million)
Table 33 Italy: By Market Size, By Application, 20162023 (Kiloton)
Table 34 Italy: By Market Size, By Application, 20162023 (USD Million)
Table 35 Rest of Europe: By Market Size, By Application, 20162023 (Kiloton)
Table 36 Rest of Europe: By Market Size, By Application, 20162023 (USD Million)
Table 37 APAC: By Market Size, By Country, 20162023 (Kiloton)
Table 38 APAC: By Market Size, By Country, 20162023 (USD Million)
Table 39 APAC: By Market Size, By Application, 20162023 (Kiloton)
Table 40 APAC: By Market Size, By Application, 20162023 (USD Million)
Table 41 China: By Market Size, By Application, 20162023 (Kiloton)
Table 42 China: By Market Size, By Application, 20162023 (USD Million)
Table 43 Japan: By Market Size, By Application, 20162023 (Kiloton)
Table 44 Japan: By Market Size, By Application, 20162023 (USD Million)
Table 45 India: By Market Size, By Application, 20162023 (Kiloton)
Table 46 India: By Market Size, By Application, 20162023 (USD Million)
Table 47 Taiwan: By Market Size, By Application, 20162023 (Kiloton)
Table 48 Taiwan: By Market Size, By Application, 20162023 (USD Million)
Table 49 Rest of APAC: By Market Size, By Application, 20162023 (Kiloton)
Table 50 Rest of APAC: By Market Size, By Application, 20162023 (USD Million)
Table 51 RoW: By Market Size, By Country, 20162023 (Kiloton)
Table 52 RoW: By Market Size, By Country, 20162023 (USD Million)
Table 53 RoW: By Market Size, By Application, 20162023 (Kiloton)
Table 54 RoW: By Market Size, By Application, 20162023 (USD Million)
Table 55 Brazil: By Market Size, By Application, 20162023 (Kiloton)
Table 56 Brazil: By Market Size, By Application, 20162023 (USD Million)
Table 57 South Africa: By Market Size, By Application, 20162023 (Kiloton)
Table 58 South Africa: By Market Size, By Application, 20162023 (USD Million)
Table 59 Others: By Market Size, By Application, 20162023 (Kiloton)
Table 60 Others: By Market Size, By Application, 20162023 (USD Million)
Table 61 New Product Launch, 20152018
Table 62 Investment & Expansion, 20152018
Table 63 Acquisition, 20152018
List of Figures (35 Figures)
Figure 1 Impregnating Resins Market Segmentation
Figure 2 Impregnating Resins Market: Research Design
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Impregnating Resins Market: Data Triangulation
Figure 6 Solventless to Be the Largest Type of Impregnating Resins
Figure 7 Motors and Generators to Be the Largest Application of Impregnating Resins
Figure 8 APAC Impregnating Resins Market to Register the Highest CAGR
Figure 9 Growth in Automotive Industry to Drive the Market During the Forecast Period
Figure 10 Solventless to Be the Largest Type During the Forecast Period
Figure 11 Motors and Generators to Be the Largest Application
Figure 12 North America Accounted for the Largest Market Share in 2017
Figure 13 Motors and Generators Was the Largest Application in the Region
Figure 14 Overview of the Factors Governing the Impregnating Resins Market
Figure 15 Impregnating Resins Market: Porters Five Forces Analysis
Figure 16 Solventless to Account for the Largest Market Share
Figure 17 Motors and Generators to Be the Largest Application of Impregnating Resins
Figure 18 Impregnating Resins Market in China to Register the Highest CAGR
Figure 19 North America: Impregnating Resins Market Snapshot
Figure 20 Europe to Be the Second-Largest Impregnating Resins Market
Figure 21 APAC: Impregnating Resins Market Snapshot
Figure 22 Companies Adopted Investment & Expansion as the Key Growth Strategy Between 2015 and 2018
Figure 23 Ranking of Impregnating Resins Manufacturers in 2017
Figure 24 Elantas: SWOT Analysis
Figure 25 Axalta Coating Systems: Company Snapshot
Figure 26 Axalta Coating Systems: SWOT Analysis
Figure 27 Von Roll Holdings: Company Snapshot
Figure 28 Von Roll Holdings: SWOT Analysis
Figure 29 Hitachi Chemicals: Company Snapshot
Figure 30 Hitachi Chemicals: SWOT Analysis
Figure 31 Kyocera Corporation: Company Snapshot
Figure 32 Kyocera Corporation: SWOT Analysis
Figure 33 3M Company: Company Snapshot
Figure 34 Momentive: Company Snapshot
Figure 35 Wacker Chemie: Company Snapshot
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Growth opportunities and latent adjacency in Impregnating Resins Market