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Report
Impregnating Resins Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-07-05 I 150 Pages I IMARC Group
Market Overview:
The global impregnating resins market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.
Impregnating resins, also known as secondary insulation materials, refer to organic liquid resins diluted with reactive thinners. They contain formaldehyde and are composed of dimers and trimers of the main molecule. They are thick and viscous that are used in the forest products industry for wood modification. Impregnating resins are also used in electric motors, filament winding, generators, home appliances, electrical components, and transformers. They exhibit electrical insulation, protection from climate changes, and mechanical stability. They provide resin protection and enhance heat transfer among iron cores, slot insulations, and wires wending.
Impregnating Resins Market Trends:
The significant growth in the automotive industry across the globe is creating a positive outlook for the market. Impregnating resins are widely used to impregnate starters, electric motors, and alternators in conventional vehicles and electric vehicles (EVs). In line with this, the implementation of various government initiatives to accelerate decarbonization and reduce greenhouse gas (GHG) emissions are favoring the market growth. Additionally, the widespread product adoption for producing transformers, generators, and motors, and impregnating varnishes and wire enamels is acting as another growth-inducing factor. Apart from this, the introduction of water-based impregnation resins that are designed to be more environmentally friendly than conventional products is providing an impetus to the market growth. Moreover, the increasing demand for electrical and electronic components is facilitating the market growth. Resin impregnation of windings and copper wires prevents vibration, provides better insulation, increases heat exchange during regular operation, is resistant to stresses and temperature loads, and reduces the risk of short circuits in the windings, which, in turn, is augmenting the market growth. Other factors, including the widespread utilization of solvent-less impregnating resins, extensive research and development (R&D) activities, and the launch of advanced impregnating resins that makes the motor more protective and provides high mechanical stability, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global impregnating resins market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on type, form and application.
Breakup by Type:
Phenol Formaldehyde
Urea Formaldehyde
Melamine Formaldehyde
Breakup by Form:
Solventless
Solvent-based
Others
Breakup by Application:
Motors and Generators
Home Appliances
Transformer
Automotive Components
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Aev Asia Sdn. Bhd., Axalta Coating Systems Ltd., BASF SE, Bodo Moller Chemie GmbH, Elantas Pdg Inc. (Altana AG), Huntsman International LLC (Huntsman Corporation), Robnor ResinLab Ltd., Showa Denko Materials Co. Ltd, Von Roll Holding AG and Wacker Chemie AG.
Market Overview:
The global impregnating resins market size reached US$ 1.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.4% during 2023-2028.
Impregnating resins, also known as secondary insulation materials, refer to organic liquid resins diluted with reactive thinners. They contain formaldehyde and are composed of dimers and trimers of the main molecule. They are thick and viscous that are used in the forest products industry for wood modification. Impregnating resins are also used in electric motors, filament winding, generators, home appliances, electrical components, and transformers. They exhibit electrical insulation, protection from climate changes, and mechanical stability. They provide resin protection and enhance heat transfer among iron cores, slot insulations, and wires wending.
Impregnating Resins Market Trends:
The significant growth in the automotive industry across the globe is creating a positive outlook for the market. Impregnating resins are widely used to impregnate starters, electric motors, and alternators in conventional vehicles and electric vehicles (EVs). In line with this, the implementation of various government initiatives to accelerate decarbonization and reduce greenhouse gas (GHG) emissions are favoring the market growth. Additionally, the widespread product adoption for producing transformers, generators, and motors, and impregnating varnishes and wire enamels is acting as another growth-inducing factor. Apart from this, the introduction of water-based impregnation resins that are designed to be more environmentally friendly than conventional products is providing an impetus to the market growth. Moreover, the increasing demand for electrical and electronic components is facilitating the market growth. Resin impregnation of windings and copper wires prevents vibration, provides better insulation, increases heat exchange during regular operation, is resistant to stresses and temperature loads, and reduces the risk of short circuits in the windings, which, in turn, is augmenting the market growth. Other factors, including the widespread utilization of solvent-less impregnating resins, extensive research and development (R&D) activities, and the launch of advanced impregnating resins that makes the motor more protective and provides high mechanical stability, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global impregnating resins market report, along with forecasts at the global, regional and country levels from 2023-2028. Our report has categorized the market based on type, form and application.
Breakup by Type:
Phenol Formaldehyde
Urea Formaldehyde
Melamine Formaldehyde
Breakup by Form:
Solventless
Solvent-based
Others
Breakup by Application:
Motors and Generators
Home Appliances
Transformer
Automotive Components
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 3M Company, Aev Asia Sdn. Bhd., Axalta Coating Systems Ltd., BASF SE, Bodo Moller Chemie GmbH, Elantas Pdg Inc. (Altana AG), Huntsman International LLC (Huntsman Corporation), Robnor ResinLab Ltd., Showa Denko Materials Co. Ltd, Von Roll Holding AG and Wacker Chemie AG.
Key Questions Answered in This Report:
How has the global impregnating resins market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global impregnating resins market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global impregnating resins market and who are the key players?
What is the degree of competition in the industry?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Impregnating Resins Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Phenol Formaldehyde
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Urea Formaldehyde
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Melamine Formaldehyde
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Form
7.1 Solventless
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Solvent-based
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Others
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Application
8.1 Motors and Generators
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Home Appliances
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Transformer
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Automotive Components
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 3M Company
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 Aev Asia Sdn. Bhd.
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Axalta Coating Systems Ltd.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 BASF SE
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.4.4 SWOT Analysis
14.3.5 Bodo Moller Chemie GmbH
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Elantas Pdg Inc. (Altana AG)
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Huntsman International LLC (Huntsman Corporation)
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.8 Robnor ResinLab Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Showa Denko Materials Co. Ltd
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Von Roll Holding AG
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.11 Wacker Chemie AG
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
Figure 1: Global: Impregnating Resins Market: Major Drivers and Challenges
Figure 2: Global: Impregnating Resins Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Impregnating Resins Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Impregnating Resins Market: Breakup by Type (in %), 2022
Figure 5: Global: Impregnating Resins Market: Breakup by Form (in %), 2022
Figure 6: Global: Impregnating Resins Market: Breakup by Application (in %), 2022
Figure 7: Global: Impregnating Resins Market: Breakup by Region (in %), 2022
Figure 8: Global: Impregnating Resins (Phenol Formaldehyde) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Impregnating Resins (Phenol Formaldehyde) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Impregnating Resins (Urea Formaldehyde) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Impregnating Resins (Urea Formaldehyde) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Impregnating Resins (Melamine Formaldehyde) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Impregnating Resins (Melamine Formaldehyde) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Impregnating Resins (Solventless) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Impregnating Resins (Solventless) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Impregnating Resins (Solvent-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Impregnating Resins (Solvent-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Impregnating Resins (Other Forms) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Impregnating Resins (Other Forms) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Impregnating Resins (Motors and Generators) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Impregnating Resins (Motors and Generators) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Impregnating Resins (Home Appliances) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Impregnating Resins (Home Appliances) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Impregnating Resins (Transformer) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Impregnating Resins (Transformer) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Impregnating Resins (Automotive Components) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Impregnating Resins (Automotive Components) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Impregnating Resins (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Impregnating Resins (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: North America: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: North America: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: United States: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: United States: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Canada: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Canada: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia-Pacific: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia-Pacific: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: China: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: China: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Japan: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Japan: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: India: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: India: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South Korea: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: South Korea: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Australia: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Australia: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Indonesia: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Indonesia: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Others: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Others: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Europe: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Europe: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Germany: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Germany: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: France: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: France: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: United Kingdom: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: United Kingdom: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Italy: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Italy: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Spain: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Spain: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Russia: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Russia: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Latin America: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Latin America: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Brazil: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Brazil: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Mexico: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Mexico: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Others: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Others: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Middle East and Africa: Impregnating Resins Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Middle East and Africa: Impregnating Resins Market: Breakup by Country (in %), 2022
Figure 78: Middle East and Africa: Impregnating Resins Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Global: Impregnating Resins Industry: SWOT Analysis
Figure 80: Global: Impregnating Resins Industry: Value Chain Analysis
Figure 81: Global: Impregnating Resins Industry: Porter's Five Forces Analysis
Table 1: Global: Impregnating Resins Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Impregnating Resins Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Impregnating Resins Market Forecast: Breakup by Form (in Million US$), 2023-2028
Table 4: Global: Impregnating Resins Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Impregnating Resins Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Impregnating Resins Market: Competitive Structure
Table 7: Global: Impregnating Resins Market: Key Players
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