Rising demand for insulating varnish across different industries is driving the global electrical insulating varnish market.
The global Electrical Insulating Varnish market is expected to develop USD 2828.6 Million by 2030, at a compound annual increase in price (CAGR) of 3.8% throughout the forecast period.
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COVID-19 Impact and Market Status
Covid-19 pandemic caused material shortages and supply chain disruptions. This caused delays that affected many industries in numerous ways. The supply chain analytics disruption caused widespread shortage of electrical insulating varnish supplies and materials. Nevertheless, the market is regaining momentum post-pandemic. This report provides a study of the key market dynamics, future growth projections, estimates, and current growth rate on the basis of facts and figures gathered by conducting comprehensive market study.
Wire Enamels Segment Held The Maximum Market Share In 2021
The global electrical insulating varnish market is classified into wire enamels, impregnation varnish on the basis of Type. Among these, the wire enamels segment held the maximum market share in global electrical insulating varnish market. The key factors such as rising sales of home appliances, increasing use of motors, rising demand for insulating components in energy sector is driving the demand of electrical insulating varnish market. To impregnate varnish, trickle insemination, dip & flood insemination, and VPI procedures are utilised. Finishing varnishes, on the other hand, are applied using brushing and spraying techniques. The main downside of the dip & flood impregnation approach is that the covering is placed to areas of the winding that are not required.
The global electrical insulating varnish market servo motors, transformers, home appliance, electric tools, and automobile on the basis of End-User. Among these, the home appliance segment experienced higher growth in global electrical insulating varnish market. The key factors such as growing use of home appliances and increasing is driving need of electrical insulating varnish market.
Growing Demand for Electric Motors and Generators to Drive the Growth of the Market
The production of electric motors is predicted to rise dramatically, owing to the growing amount of electronic equipment that requires electric motors, as well as the expanding revenues of electric cars (EVs) and the rise in the installation of electric engines in industrial industries. Because electrical insulating varnishes is largely utilised in the coils of an electric motor, it is projected that as the demand for electric motors grows, so will the demand for insulating varnish, boosting market growth. However, the product's complexities, as well as a lack of information about the various types of varnishes available, are likely to act as a major limitation on the worldwide electrical insulating varnishes market's growth.
Owing to benefits such as protection against corrosion and moisture, protection to electrical materials, high arc resistance, high dielectric strength, strong adherence to metal and insulting components, the electrical insulating varnish experiencing rapid adoption thus fostering remarkable progress of global electrical insulating varnish market.
In the past, fibrous materials such as paper were used as primary insulation for inductor coils. However, there are certain concerns about the usage of these materials, particularly their capacity to provide moisture and dust protection. To improve the insulation qualities, secondary insulation was introduced.
Impregnation is a thinner layer of insulation that is applied to coils connected to wires and is known as secondary insulation. As a result, secondary insulation can be used to fill the gaps between fibres during the winding impregnation process. When all gaps and holes are filled with resin fibres, the main insulation is considered impregnated inside the electrical industry.
On the basis of its impregnation, electrical insulating varnishes is classified as either primary or secondary insulation. It could be used as primary insulation to naked conductor coatings, for example. When used for constructed windings of enamelled wire, however, electrical insulating varnishes is being used as secondary insulation. As a result, the electric insulating varnishes is used to ensure that the electromagnetic principle is used to operate electrical items such as transformer, sensors, generators, and motors, and that proper electrical insulation is used to accomplish efficient operation.
Fibrous materials, such as paper, were traditionally employed as primary insulation for inductor coils. However, they had a number of drawbacks in terms of dust and water prevention. On coils built with wires, a second insulation with a thinner layer was utilised to increase the insulation qualities. Impregnation is the term for this. In order to cover the voids between fibres, supplementary insulation might be used to saturate the winding. When all the crevices and gaps in primary insulation are filled with resin fibres, it is referred to as impregnated in the electrical and electronics sector. Depending on the impregnation, electrical insulating varnish is classified as primary or secondary insulation. When used to blanket a bare conductor, for instance, it is categorized as primary insulating.
The key players in global electrical insulating varnish market are Nitto, AEV, Axalta, Kyocera, Von Roll, Hitachi Chemical, Momentive Performance Materials, ELANTAS, Sichuan Dongfang Insulating Material, Showa Denko Materials, Von Roll Group, Axalta Coating Systems, and DuPont de Nemours among others.
Electrical Insulating Varnish Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2030 |
| Study Period | 2018-2030 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2030 | USD 2828.6 Million |
| Growth Rate | CAGR of 3.8 % during 2020-2030 |
| Segment Covered | By application, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | NITTO DENKO CORPORATION, DuPont de Nemours, Inc., KYOCERA Corporation, Axalta Coating Systems, LLC, Von Roll Holding AG, SHOWA DENKO K. K., Sichuan Dongfang Insulating Material Co., Ltd., ELANTAS GmbH (ALTANA AG), |
Key Segments of the Electrical Insulating Varnish Market
Type Overview (USD Million)
- Wire Enamels
- Impregnation Varnish
End-user Overview (USD Million)
- Motors
- Transformers
- Home Appliance
- Electric Tools
- Automobile
Regional Overview (USD Million)
North America
- U.S
- Canada
Europe
- Germany
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
South America
- Mexico
- Brazil
- Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
The market value of electrical insulating varnish market in 2030 was USD 2828.6 Million
The electrical insulating varnish market is growing at a CAGR of 3.8% over the forecast period.
North America dominated the market for electrical insulating varnish market and accounted for the largest revenue share.
The top companies that hold the market share in electrical insulating varnish market are NITTO DENKO CORPORATION, DuPont de Nemours, Inc., KYOCERA Corporation, Axalta Coating Systems, LLC, Von Roll Holding AG, SHOWA DENKO K. K., Sichuan Dongfang Insulating Material Co., Ltd., ELANTAS GmbH (ALTANA AG),
The base year for the report is 2022 in electrical insulating varnish market.