The impregnating resins market size is projected to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The major drivers for the impregnating resins market include a rapidly growing population, increasing industrialization and urbanization, increasing electrification in emerging economies, and expansion of the manufacturing sector in emerging economies.
Impregnating resins are used for secondary insulation for motors & generators, transformers, home appliances, and automotive components. Companies, such as Elantas (Germany), Axalta Coating Systems (US), Von Roll Holdings (Switzerland), Henkel (Germany), Kyocera Corporation (Japan), and Hitachi Chemical Co., Ltd. (Japan), operating in the impregnating resins market have adopted both organic and inorganic growth strategies such as investment & expansion, new product launch, merger & acquisition, and agreement & collaboration to serve their customers efficiently and increase their market shares.
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Elantas (Germany) has a strong position in the impregnating resins market. The company has a strong product portfolio of impregnating resins, which are used for the impregnation of motors & generators, transformers, home appliances, and automotive components. Elantas offers a comprehensive portfolio suitable for dip, vacuum pressure impregnation (VPI), spray, and manual impregnating resin application methods. The products offered by the company are certified and suitable for recent motor and generator designs. It has 12 manufacturing sites located in India, China, Germany, Italy, Brazil, and the US. The company is focused on offering innovative and customized impregnating resins for diverse applications.
Axalta Coating Systems (US) is another major player operating in the market. The company has a robust global presence and offers impregnating resins for a wide range of applications such as motors & generators, transformers, and automotive components. The company emphasizes on research & development in the field of impregnating resins technology, to strengthen product portfolio and to widen its product utility in various applications. Recently, Axalta Coating Systems has launched a new product, Voltatex 4224, a new styrene- and vinyl toluene-free impregnating resin that limits flammability and reduces VOC emissions.
Impregnating Resins Market by Type (Solventless, Solvent Based), Application (Motors & Generators, Home Appliances, Transformers, Automotive Components), Region (North America, APAC, Europe, MEA, South America) - Global Forecast to 2025
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