Electrical Insulating Varnish Market Segmentation by Product Type (Wire Enamels, Silicon Insulating Varnish, Bonding Varnish, Coating Varnish, and Others); by Application (Automobile, Transformers, Electric Tools, Sensors, Home Appliances, Motors, Wind Power Generation, High-Speed Rail, and Others); and by Method of Application {Trickle Impregnation Method, Vacuum Pressure Impregnation (VPI) Method, and Dip & Flood Impregnation Method}-Global Demand Analysis & Opportunity Outlook 2020-2030
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Product Code:
RP-ID-10352383 -
Published Date:
21 Oct 2022 -
Region:
Global
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Pages:
235 -
Category:
ICT & Telecom -
Publisher:
Pub-ID-54
Impact Analysis on the Growth of Market
Inflation and Looming Recession to Haunt Businesses:
In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
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The Research Report is Updated with 2022 Base Year, 2023 Estimated year and Forecast till 2035 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2022 as base year, 2023 as estimated year and forecast to 2035. This will have market drivers, recovery rate in the market, insights and competitive analysis.
Market Overview:
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Global Electrical Insulating Varnish Market Highlights Over 2020 - 2030
The global electrical insulating varnish market is estimated to garner a revenue of USD 2828.6 Million by the end of 2030, by growing at a CAGR of 3.8% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market generated a revenue of USD 1895.0 Million. The growth of the market can primarily be attributed to the rising demand for electric motors and generators worldwide, and therefore the growing need for electrical insulating varnish. According to the statistics by the International Trade Center (ITC), the value of imports of electric motors and generators increased from USD 49340012 Thousand in the year 2016 to USD 59269560 Thousand in the year 2019. Insulating varnish are used across a wide range of electrical applications, specifically in the automotive sector in the manufacturing of electric vehicles, as well as in other end-uses, such as in transformers, electric tools, home appliances, and others. According to the statistics by the International Energy Agency (IEA), the global electric car stock increased from 0.02 Million in the year 2010 to 4.79 Million in the year 2019. The growth of the market can also be attributed to the rising demand for different types of electronic equipment, growing adoption of hydro and wind energy, along with the increasing number of manufacturing industries.
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Global Electrical Insulating Varnish Market Regional Synopsis
Regionally, the global electrical insulating varnish market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is anticipated to garner the largest revenue of USD 1167.5 Million by the end of 2030, up from a revenue of USD 729.6 Million in the year 2020. The growth of the market in the region can primarily be attributed to the presence of several manufacturers of electrical motors, and therefore the need for electrical insulating varnish. Besides this, the increasing sales of electric vehicles in the region and presence of countries, such as China, which has the world’s largest EV stock, is also expected to drive the market growth. In the other statistics by the IEA, the stock of battery electric vehicles (BEVs) in China grew from 0.21 Million in the year 2015 to 2.58 Million in the year 2019. Additionally, the stock of plug-in hybrid electric vehicles (PHEVs) in the nation increased from 0.09 Million in the year 2015 to 0.77 Million by the end of 2019. The market in the region is further segmented by country into China, India, Japan, South Korea, Singapore, Australia, Vietnam, and the Rest of Asia Pacific. The market in China is anticipated to garner the largest revenue of USD 524.9 Million by the end of 2030, up from a revenue of USD 318.1 Million in the year 2020.
Growth Drivers and Challenges Impacting the Growth of the Global Electrical Insulating Varnish Market
Growth Drivers
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Growing Application of Electrical Insulating Varnish in End-Use Industries
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Increasing Use of the Product in Electric Vehicles (EVs)
Challenges
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Complexities in the Manufacturing of the Product
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Lack of Awareness for the Availability of Different Types of Varnishes
Global Electrical Insulating Varnish Market Segmentation Synopsis
The global electrical insulating varnish market is segmented by product type into wire enamels, silicon insulating varnish, bonding varnish, coating varnish, and others. Out of these, the wire enamels segment is anticipated to garner the largest revenue of USD 984.6 Million by the end of 2030, up from a revenue of USD 680.5 Million in the year 2020. By application, the market is segmented into automobile, transformers, electric tools, sensors, home appliance, motors, wind power generation, high-speed rail, and others. Out of these, the automobile segment is projected to garner the largest revenue of USD 656.1 Million by the end of 2030, up from a revenue of USD 419.4 Million in the year 2020. By method of application, the market is segmented into trickle impregnation method, vacuum pressure impregnation (VPI) method, and dip & flood impregnation method. Out of these, the vacuum pressure impregnation (VPI) method segment is expected to garner the largest revenue of USD 1495.7 Million by the end of 2030, up from a revenue of USD 980.8 Million in the year 2020.
Key Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global electrical insulating varnish market that are included in our report 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), Momentive Performance Materials Inc., Power Varnish, and others.
Latest Developments in the Global Electrical Insulating Varnish Market:
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March 3rd, 2022: Von Roll Holding AG announced that it would supply its leading high voltage resin in one of the world’s largest VPI tanks in North America.
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August 5th, 2020: Momentive Performance Materials Inc. announced that it would invest USD 15 Million in different phases for expanding its Electronic Materials Production and the sale of its Consumer Sealants Business.
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December 20th, 2019: ELANTAS GmbH’s parent company ALTANA AG announced that it has acquired Schmid Rhyner AG, the overprint varnish specialist operating in Switzerland.
Key Reasons to Buy Our Report
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The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
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It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
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The report includes detailed company profiles of the major players dominating the market.
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We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
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We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.
Geography Analysis:
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook
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FREQUENTLY ASKED QUESTIONS
The growing application of electrical insulating varnish in end-use industries, along with the increasing use of the product in electric vehicles (EVs) are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 3.8% over the forecast period, i.e., 2021 – 2030.
The complexities in the manufacturing of the product, along with the lack of awareness for the availability of different types of varnishes are estimated to hamper the market growth.
The market in in the Asia Pacific is anticipated to garner the largest revenue of USD 1167.5 Million by the end of 2030 and provide more business opportunities in the future.
The major players in the market are NITTO DENKO CORPORATION, DuPont de Nemours, Inc., KYOCERA Corporation, Axalta Coating Systems, LLC, Von Roll Holding AG, SHOWA DENKO K. K., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by product type, application, method of application, and by region.
The wire enamels segment is anticipated to garner the largest revenue of USD 984.6 Million by the end of 2030 and display significant growth opportunities.
1. Introduction
1.1. Market Definition
1.2.Market Segmentation
2. Assumptions and Acronyms
3. Research Methodology
3.1.Research Process
3.2. Primary Research
3.3. Secondary Research
3.4. Market Size Estimation
4. Executive Summary – Global Electrical Insulating Varnish Market
5. Market Dynamics
5.1. Market Drivers
5.2. Market Restraint
5.3. Market Opportunities
5.4. Market Trends
6. Regulatory & Standards Landscape
7. Industry Risk Analysis
8. Analysis on the Impregnation Varnish
9. Pricing Analysis
10. Value Chain Analysis
11. Impact of COVID-19 on the Global Electrical Insulating Varnish Market
12.Regional Demand Analysis of Electrical Insulating Varnish
13.GAP Analysis
14.Competitive Positioning
15. Competitive Landscape
15.1. Competitive Feature Analysis
15.2. Competitive Benchmarking
15.3. Market Share Analysis, 2020
15.4. Company Profiles
15.4.1. NITTO DENKO CORPORATION
15.4.2. DuPont de Nemours, Inc.
15.4.3. KYOCERA Corporation
15.4.4. Axalta Coating Systems, LLC
15.4.5. Von Roll Holding AG
15.4.6. SHOWA DENKO K. K.
15.4.7. Sichuan Dongfang Insulating Material Co., Ltd.
15.4.8. ELANTAS GmbH (ALTANA AG)
15.4.9. Momentive Performance Materials Inc.
15.4.10. Power Varnish
16.Global Electrical Insulating Varnish Market – Segmentation Analysis 2020-2030
16.1. Market Overview
16.2. Market by Value (USD Million)
16.3. Product-Type, 2020-2030 (USD Million)
16.3.1. Wire Enamels, 2020-2030 (USD Million)
16.3.2. Impregnation Varnish, 2020-2030 (USD Million)
16.3.2.1. Melamine Alkyd Insulation Impregnated Varnish, 2020-2030 (USD Million)
16.3.2.2. Epoxy Impregnating Varnish, 2020-2030 (USD Million)
16.3.2.3. Alkyd Phenolic Impregnating Varnish, 2020-2030 (USD Million)
16.3.2.4. Modified Polyester Silicone Resin Impregnated Varnish, 2020-2030 (USD Million)
16.3.2.5. Isopthalic Alkyd Polyester Impregnating Varnish, 2020-2030 (USD Million)
16.3.2.6. Others, 2020-2030 (USD Million)
16.3.3. Silicon Insulating Varnish, 2020-2030 (USD Million)
16.3.4. Bonding Varnish, 2020-2030 (USD Million)
16.3.5. Coating Varnish, 2020-2030 (USD Million)
16.3.6. Others, 2020-2030 (USD Million)
16.4. Application
16.4.1. Automobile, 2020-2030 (USD Million)
16.4.2. Transformers, 2020-2030 (USD Million)
16.4.3. Electric Tools, 2020-2030 (USD Million)
16.4.4. Sensors, 2020-2030 (USD Million)
16.4.5. Home Appliance, 2020-2030 (USD Million)
16.4.6. Wind Power Generation, 2020-2030 (USD Million)
16.4.7. High-Speed Rail, 2020-2030 (USD Million)
16.4.8. Motor, 2020-2030 (USD Million)
16.4.9. Others, 2020-2030 (USD Million)
16.5. Method of Application
16.5.1. Trickle Impregnation Method, 2020-2030 (USD Million)
16.5.2. Vacuum Pressure Impregnation (VPI) Method, 2020-2030 (USD Million)
16.5.3. Dip and Flood Impregnation Method, 2020-2030 (USD Million)
16.6. Region
16.6.1. North America, 2020-2030 (USD Million)
16.6.2. Europe, 2020-2030 (USD Million)
16.6.3. Asia Pacific, 2020-2030 (USD Million)
16.6.4. Latin America, 2020-2030 (USD Million)
16.6.5. Middle East & Africa, 2020-2030 (USD Million)
17. North America Electrical Insulating Varnish Market
17.1. Leading Players in the Region
17.2. Pricing Outlook (USD)
17.3. Market Segmentation by:
17.3.1. Product-Type, 2020-2030 (USD Million)
17.3.1.1. Wire Enamels, 2020-2030 (USD Million)
17.3.1.2. Impregnation Varnish, 2020-2030 (USD Million)
17.3.1.2.1. Melamine Alkyd Insulation Impregnated Varnish, 2020-2030 (USD Million)
17.3.1.2.2. Epoxy Impregnating Varnish, 2020-2030 (USD Million)
17.3.1.2.3. Alkyd Phenolic Impregnating Varnish, 2020-2030 (USD Million)
17.3.1.2.4. Modified Polyester Silicone Resin Impregnated Varnish, 2020-2030 (USD Million)
17.3.1.2.5. Isopthalic Alkyd Polyester Impregnating Varnish, 2020-2030 (USD Million)
17.3.1.2.6. Others, 2020-2030 (USD Million)
17.3.1.3. Silicon Insulating Varnish, 2020-2030 (USD Million)
17.3.1.4. Bonding Varnish, 2020-2030 (USD Million)
17.3.1.5. Coating Varnish, 2020-2030 (USD Million)
17.3.1.6. Others, 2020-2030 (USD Million)
17.3.2. Application
17.3.2.1. Automobile, 2020-2030 (USD Million)
17.3.2.2. Transformers, 2020-2030 (USD Million)
17.3.2.3. Electric Tools, 2020-2030 (USD Million)
17.3.2.4. Sensors, 2020-2030 (USD Million)
17.3.2.5. Home Appliance, 2020-2030 (USD Million)
17.3.2.6. Wind Power Generation, 2020-2030 (USD Million)
17.3.2.7. High-Speed Rail, 2020-2030 (USD Million)
17.3.2.8. Motor, 2020-2030 (USD Million)
17.3.2.9. Others, 2020-2030 (USD Million)
17.3.3. Method of Application
17.3.3.1. Trickle Impregnation Method, 2020-2030 (USD Million)
17.3.3.2. Vacuum Pressure Impregnation (VPI) Method, 2020-2030 (USD Million)
17.3.3.3. Dip and Flood Impregnation Method, 2020-2030 (USD Million)
17.3.4. Country
17.3.4.1. United States, 2020-2030 (USD Million)
17.3.4.2. Canada, 2020-2030 (USD Million)
18.Europe Electrical Insulating Varnish Market
18.1. Leading Players in the Region
18.2. Pricing Outlook (USD)
18.3. Market Segmentation by:
18.3.1. Product-Type, 2020-2030 (USD Million)
18.3.2. Application
18.3.3. Method of Application
18.3.4. Country
18.3.4.1. United Kingdom, 2020-2030 (USD Million)
18.3.4.2. Germany, 2020-2030 (USD Million)
18.3.4.3. France, 2020-2030 (USD Million)
18.3.4.4. Italy, 2020-2030 (USD Million)
18.3.4.5. Spain, 2020-2030 (USD Million)
18.3.4.6. Russia, 2020-2030 (USD Million)
18.3.4.7. Netherlands, 2020-2030 (USD Million)
18.3.4.8. Rest of Europe, 2020-2030 (USD Million)
19.Asia Pacific Electrical Insulating Varnish Market
19.1. Leading Players in the Region
19.2. Pricing Outlook (USD)
19.3. Market Segmentation by:
19.3.1. Product-Type, 2020-2030 (USD Million)
19.3.2. Application
19.3.3. Method of Application
19.3.4. Country
19.3.4.1. China, 2020-2030 (USD Million)
19.3.4.2. India, 2020-2030 (USD Million)
19.3.4.3. Japan, 2020-2030 (USD Million)
19.3.4.4. South Korea, 2020-2030 (USD Million)
19.3.4.5. Singapore, 2020-2030 (USD Million)
19.3.4.6. Australia, 2020-2030 (USD Million)
19.3.4.7. Vietnam, 2020-2030 (USD Million)
19.3.4.8. Rest of Asia Pacific, 2020-2030 (USD Million)
20. Latin America Electrical Insulating Varnish Market
20.1. Leading Players in the Region
20.2. Pricing Outlook (USD)
20.3. Market Segmentation by:
20.3.1. Product-Type, 2020-2030 (USD Million)
20.3.2. Application
20.3.3. Method of Application
20.3.4. Country
20.3.4.1. Brazil, 2020-2030 (USD Million)
20.3.4.2. Mexico, 2020-2030 (USD Million)
20.3.4.3. Argentina, 2020-2030 (USD Million)
20.3.4.4. Rest of Latin America, 2020-2030 (USD Million)
21.Middle East & Africa Electrical Insulating Varnish Market
21.1. Leading Players in the Region
21.2. Pricing Outlook (USD)
21.3. Market Segmentation by:
21.3.1. Product-Type, 2020-2030 (USD Million)
21.3.2. Application
21.3.3. Method of Application
21.3.4. Country
21.3.4.1. GCC, 2020-2030 (USD Million)
21.3.4.2. South Africa, 2020-2030 (USD Million)
21.3.4.3. Israel, 2020-2030 (USD Million)
21.3.4.4. Rest of Middle East & Africa, 2020-2030 (USD Million)
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- 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)
- Momentive Performance Materials Inc.
- Power Varnish
