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Impregnating Resins Market Size (2024 - 2029)

The Impregnating Resins Market is projected to experience growth over the forecast period, driven by increased demand in the electrical and electronics sectors and the rising production of electric vehicles. Despite challenges posed by the COVID-19 pandemic, which disrupted global supply chains and affected all major end-user industries, the market is expected to recover and expand. The development of eco-friendly formulations is anticipated to open new opportunities in sectors such as renewable energy, aerospace, and advanced electrical systems. The Asia-Pacific region, particularly countries like India, China, and Japan, leads in market consumption.

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Market Size of Impregnating Resins Industry

Impregnating Resins Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.58 Billion
Market Size (2029) USD 2.06 Billion
CAGR (2024 - 2029) > 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Medium

Major Players

Impregnating Resins Market Major Players

*Disclaimer: Major Players sorted in no particular order

Impregnating Resins Market Analysis

The Impregnating Resins Market size is estimated at USD 1.58 billion in 2024, and is expected to reach USD 2.06 billion by 2029, growing at a CAGR of greater than 5% during the forecast period (2024-2029).

The COVID-19 pandemic hindered market growth due to massive disruptions to global supply chain networks resulting from lockdowns, social distances, and trade sanctions. All major end-user industries witnessed a decline due to the halt in activities. However, the condition was expected to recover in 2021 and benefit the market during the forecast period.

  • The market is driven by the growing use of impregnating resins in the electrical and electronics sectors and the increasing electric vehicle production.
  • However, the low efficiency of solvent-based resins is restraining the growth of the market.
  • Nevertheless, the development of eco-friendly formulations presents avenues for growth and innovation in applications such as renewable energy, aerospace, and advanced electrical systems.
  • Asia-Pacific dominates the market studied, with India, China, and Japan recording primary consumption.

Impregnating Resins Industry Segmentation

Impregnating resins are liquid substances, frequently based on epoxy or polyester, crafted to permeate and saturate porous materials like paper or fabric, aiming to improve mechanical and electrical characteristics. They are commonly utilized in various industries, including electrical components, transformers, and printed circuit boards, for insulation, protection, and structural reinforcement.

The impregnating resin market is segmented by technology, resin type, application, and geography. By technology, the market is segmented into solventless resins and solvent-based resins. By resin type, the market is segmented into polyester, epoxy, polyesterimide, and other resin types (polyurethane, silicone, and others). By application, the market is segmented into motors and generators, home appliances, transformers, electrical and electronic components, automotive, and other applications (aerospace, industrial coatings, and others). The report also covers the market size and forecast for the impregnating resin market in 27 countries across major regions. For each segment, the market sizing and forecast have been done on the basis of value (USD).

By Technology
Solventless Resins
Solvent-based Resins
By Resin Type
Polyester
Epoxy
Polyesterimide
Other Resin Types
By Application
Motors and Generators
Home Appliances
Transformer
Electrical and Electronics Components
Automotive
Other Applications
By Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Nigeria
Qatar
Egypt
United Arab Emirates
Rest of Middle East and Africa
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Impregnating Resins Market Size Summary

The impregnating resins market is poised for significant growth, driven by increasing demand in the electrical and electronics sectors, as well as the burgeoning production of electric vehicles. These resins, essential for providing electrical insulation and mechanical stability, are extensively used in insulating integrated circuits, transistors, and printed circuit boards, thereby enhancing the reliability and durability of electronic components. The market's expansion is further supported by the development of eco-friendly formulations, which open new avenues in renewable energy, aerospace, and advanced electrical systems. Despite challenges such as the low efficiency of solvent-based resins, the market is expected to recover from the disruptions caused by the COVID-19 pandemic, with Asia-Pacific leading the charge due to its robust electronics and automobile manufacturing industries.

Asia-Pacific is anticipated to dominate the impregnating resins market, with countries like China, India, and Japan playing pivotal roles due to their extensive electronics production and increasing electric vehicle sales. The region's growth is bolstered by the rising demand for consumer electronics and the strategic focus on electronics hardware in India, supported by government initiatives. The market is partially consolidated, with major players like Elantas GmbH, Henkel AG & Co. KGaA, Axalta Coating Systems, Huntsman International LLC, and 3M holding significant shares. Recent strategic moves, such as acquisitions and product innovations, further strengthen the market presence of these companies, ensuring continued growth and competitiveness in the coming years.

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Impregnating Resins Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Usage in the Electrical and Electronics Segment

      2. 1.1.2 Increasing Electric Veichles Production

      3. 1.1.3 Other Drivers

    2. 1.2 Restraints

      1. 1.2.1 Less Efficiency of Solvent-based Resin Systems

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 By Technology

      1. 2.1.1 Solventless Resins

      2. 2.1.2 Solvent-based Resins

    2. 2.2 By Resin Type

      1. 2.2.1 Polyester

      2. 2.2.2 Epoxy

      3. 2.2.3 Polyesterimide

      4. 2.2.4 Other Resin Types

    3. 2.3 By Application

      1. 2.3.1 Motors and Generators

      2. 2.3.2 Home Appliances

      3. 2.3.3 Transformer

      4. 2.3.4 Electrical and Electronics Components

      5. 2.3.5 Automotive

      6. 2.3.6 Other Applications

    4. 2.4 By Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Malaysia

        6. 2.4.1.6 Thailand

        7. 2.4.1.7 Indonesia

        8. 2.4.1.8 Vietnam

        9. 2.4.1.9 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Spain

        6. 2.4.3.6 NORDIC Countries

        7. 2.4.3.7 Turkey

        8. 2.4.3.8 Russia

        9. 2.4.3.9 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Colombia

        4. 2.4.4.4 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Nigeria

        4. 2.4.5.4 Qatar

        5. 2.4.5.5 Egypt

        6. 2.4.5.6 United Arab Emirates

        7. 2.4.5.7 Rest of Middle East and Africa

Impregnating Resins Market Size FAQs

The Impregnating Resins Market size is expected to reach USD 1.58 billion in 2024 and grow at a CAGR of greater than 5% to reach USD 2.06 billion by 2029.

In 2024, the Impregnating Resins Market size is expected to reach USD 1.58 billion.

Impregnating Resins Market Report Snapshots

Impregnating Resins Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)