Rockville, April 18, 2023 (GLOBE NEWSWIRE) -- A 10-year projection from 2022 to 2032 is provided in Fact.MR's recent study on the impregnating resins market. Other details include significant market-shaping aspects including drivers, constraints, and opportunities. The market is segmented into product type, modality, application, end user, and region to make the information for clear understanding of key trends.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global sales of impregnating resins is predicted to generate an absolute $ potential of around US$ 2.79 Bn by 2032, with a projected CAGR of 6.5% from 2022 to 2032. By the end of 2021, sales of impregnating resins had reached $1.41 billion USD.
High demand for electrical components in the rapidly growing automotive and power generation industries is likely to drive future sales of impregnating resins. Another important aspect that will boost growth is the increased demand for high-quality electrical components as a result of regulatory bodies enforcing tight emission-reduction standards.
Furthermore, in industrialised countries, the replacement of ageing transportation and distribution infrastructure is likely to drive the industry. According to Fact.MR, North America accounts for roughly one-third of the global impregnating resins market.
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The presence of a well-established industrial base across North America, as well as rising demand for resin-impregnated fibreglass, is expected to boost the market. Furthermore, rising sales of resin-impregnated plywood in the building sector are expected to drive development.
Additionally, the increasing use of impregnating resins in a variety of applications such as insulation, filament winding, and enhanced heat transfer in electrical components is expected to drive growth. Key players' ongoing research and development initiatives to introduce resin-impregnated carbon, wood, and paper are also expected to benefit the market.
| Impregnating Resins Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 6.5 % |
| Market growth 2022-2032 | US$ 2.79 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution | Europe 26.9% share |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Momentive, Von Roll, ELANTAS GmbH, Henkel AG & Co. KGaA, Huntsman International LLC, KYOCERA CORPORATION, 3M, Axalta Coating Systems, Robnor ResinLab Ltd |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Takeaways:
- The global impregnating resins market grew at a CAGR of 5.4% in the historic period (2017-2021).
- The U.S. impregnating resins market is expected to grow at a CAGR of 6% in the forecast period from 2022-2032.
- China impregnating resins market is projected to expand at a steady pace and exhibit a CAGR of 7% in the upcoming decade.
- By end use, the electric components category is likely to generate nearly 45.3% of the impregnating resins market share in the evaluation period.
- Based on form, the solventless impregnating resins segment currently accounts for around 39.8% of the global market
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Growth Drivers:
- Surging demand for electrical components backed by rapid development of electric vehicles and charging infrastructure is anticipated to foster growth.
- Usage of resin-impregnated paper is likely to surge with implementation of stringent government norms to lower pollution levels and decarbonizing the energy sector.
Restraints:
- Adoption of low-quality raw materials by vendors backed by the expensive nature of premium quality materials may hinder growth.
- Solvent-based impregnating resins have low efficiency compared to other types, which may obstruct the market.
Competitive Landscape
To reach the worldwide market and improve the overall supply chain in the global impregnating resins market, key companies are focusing on implementing modern manufacturing technologies for the production of impregnating resins.
Impregnating resin producers are also focused on continual consolidation among key manufacturers and suppliers, as well as advances in the target product's production scenario, in order to sustain and expand their present client base. Technological advancements are projected to drive the global demand for impregnating resins.
For instance,
- Voltatex 4224, a new product from Axalta Coating Systems, was added to the company's product line, including low-emission, styrene-free vinyl toluene impregnating resins.
Key Companies Profiled
- Momentive
- Von Roll
- ELANTAS GmbH
- Henkel AG & Co. KGaA
- Huntsman International LLC
- KYOCERA CORPORATION
- 3M
- Axalta Coating Systems
- Robnor ResinLab Ltd.
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Key Segments Covered in Impregnating Resins Industry Research
- Impregnating Resins Market by Resin Type :
- Phenol-Formaldehyde Resins
- Urea-Formaldehyde Resins
- Melamine-Formaldehyde Resins
- Impregnating Resins Market by Form :
- Solventless Impregnating Resins
- Solvent-based Impregnating Resins
- Other Types
- Impregnating Resins Market by Thermal Class :
- Less than 130 Degree Celsius
- 130 Degree Celsius - 180 Degree Celsius
- More than 180 Degree Celsius
- Impregnating Resins Market by End Use :
- Electric Components
- Automotive Components
- Others
- Impregnating Resins Market by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Polycarbonate Resins Market: Polycarbonate resins market is anticipated to register a volume CAGR of over 4% during the forecast period, 2019-2029. Materials with highly versatile properties have garnered considerable traction in recent years, as industries set their focus on leveraging the multifaceted options, while they aim to suffice the growing consumer demand for quality-driven offerings.
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