Impregnating Resins Market To Reach $2.84 Billion By 2030

Impregnating Resins Market Growth & Trends

The global impregnating resins market size is anticipated to reach USD 2.84 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 6.3% from 2023 to 2030. The market growth for impregnating resins is propelled by their rising demand from the automotive and electrical industry, especially for applications such as rotor & motor in the powertrain system of vehicles, transformers for electricity distribution, and various home appliances such as washing machines and dishwashers.

Infrastructural modernization, followed by the introduction of technologically advanced equipment across the electrical industry such as increasing demand for transformers for electricity utilization is anticipated to boost the demand for impregnating resin across the U.S. during the forecast period.

With technological advancement, manufacturers are rapidly progressing in developing and launching new products, joint ventures, and other strategic initiatives. For instance, in April 2023, Ahlstrom launched a new renewable lignin-based impregnation for automotive filter media, Ahlstrom ECO. This product was launched to reduce the dependency on fossil-fueled based resins.

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Impregnating Resins Market Report Highlights

• In terms of region, the Asia Pacific impregnating market was estimated at USD 1.72 billion in 2022 and is expected to grow at a CAGR of 6.3% from 2023 to 2030

• The requirement of high productivity and long-lasting life of generators, motors, and other industrial machinery is a major driving factor for the market growth during the forecast period

• In terms of form, the solventless impregnating resins segment dominated the global market in 2022 with a revenue share above 50.0% as the rise in demand for solventless impregnating resins has been followed by the higher performance attributes related to the solventless resins in contrast to their counterpart, solvent-based impregnating resins

• Based on type, the epoxy-based impregnating resins segment dominated the global market in 2022 with a revenue share above 61.0%. This rise in demand for epoxy-based impregnating resins is associated with the higher chemical resistance, thermal stability, and electrical insulation properties provided by epoxy, withstanding a thermal temperature condition above 400°F

Impregnating Resins Market Segmentation

Grand View Research has segmented the global impregnating resins market based on form, type, application, and region:

Impregnating Resins Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Solventless

• Solvent-based

Impregnating Resins Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Polyurethane

• Polyester

• Epoxy

• Polyesterimide

• Others

Impregnating Resins Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Powertrain System

• Home Appliances

• Transformer

• Others

Impregnating Resins Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • U.K.

  • France

  • Italy

  • The Netherlands

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Indonesia

  • Thailand

  • Vietnam

• Central & South America

  • Brazil

  • Argentina

• Middle East & Africa

  • Saudi Arabia

  • United Arab Emirates (UAE)

  • South Africa

List of Key Players in the Impregnating Resins Market

• BASF SE

• ELANTAS

• Axalta Coating Systems Germany GmbH & Co. KG

• VON ROLL

• Henkel AG & Co. KGaA

• Huntsman International LLC

• ADVANCED ELECTRICAL VARNISHES, S.L.

• 3M

• Wacker Chemie AG

• Momentive Performance Materials, Inc.

• VUKI a.s.

• Aditya Birla Group

• JYOTI ENTERPRISES

• Robnor ResinLab Ltd. Ltd.

• Bawa Polymers

• Bodo Möller Chemie GmbH