Electrical Insulation Materials Market Overview
According to a recent survey conducted by ChemView Consulting, the Global Electrical Insulation Materials Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 9,561.2Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.8% and is expected to reach a valuation of US$ 16,802.3Mn by 2032 end.
Motor output has grown due to the increased use of nanocomposite materials in electric motor insulation systems. The need for nanocomposite-based insulating materials in electric motors is anticipated to increase due to their remarkable properties, including volume resistivity, better space charge buildup, thermal conductivity, and direct current (DC) breakdown.
New insulating solutions for electric motors that run at high temperatures and under high electrical stress can be created using micro- and nanotechnologies. Thanks to micro- and nanotechnologies, material performance, energy-efficient production methods, and cost-effective manufacturing processes have all improved.
ChemView Consulting has analyzed that in EVs, electrical insulation materials are employed to reduce conductivity and safeguard electronic components. EV sales are rising due to rising pressure to reduce fuel use, emission standards, and shifting customer attitudes toward the adaptability of EVs. Sales of EVs as a whole are anticipated to increase from 6.6 million to 11.2 million, totaling 31.1 million.
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In terms of value, the power systems sector held a 25.8% share of the market for electrical insulating materials. Power systems transport electricity produced in plants from one location to another. Developing nations like India, Brazil, and Indonesia are expanding their grid systems to offer power to rural areas.
Segments Covered in Report
- Power Systems
- Electronics Systems
- Cables & Transmission Lines
- Domestic Portable Appliances
- Epoxy Resins
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Electrical Insulation Materials Market
- Based on the application, in terms of value, the power systems sector held a 25.8% share of the market for electrical insulating materials. Power systems transport electricity produced in plants from one location to another. Developing nations like India, Brazil, and Indonesia are expanding their grid systems to offer power to rural areas.
- Based on the region, with a market share of 48.7%, Asia Pacific is expected to develop at a CAGR of 7.9% in value during the estimated period, making it a significant market for the manufacture of electrical insulating materials. Manufacturers of electrical insulating materials find the area a desirable investment location due to the accessibility of cheap labor and raw materials and the rising domestic demand in the power generation industry. Several factors, including the growing population, urbanization, and industrialization, will drive this region’s electrical insulation materials market.
Key companies covered in the market study are Nitto Denko Corporation, 3M Company, E. I. DuPont de Nemours and Company, The Dow Chemical Company, Showa Denko Materials Co., Ltd., KREMPEL GmbH, ITW Formex, Elantas GmbH, Nikkan Industries Co., Ltd, Dr. Dietrich Müller GmbH, Fralock Innovative Materials Manufacturing & Automation, Haysite Reinforced Plastics, Miki Tokushu Paper MFG. CO., LTD., Furukawa Electric Power Systems Co., Ltd., Vitar Insulation Manufacturers Ltd
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impact market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have collaborated with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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