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CHEMICALS AND ADVANCED MATERIALS

Electrical Insulating Varnish Market Segmentation by Product-Type (Wire Enamels, Impregnation Varnish, Silicon Insulating Varnish, Bonding Varnish, Coating Varnish, and Others); by Application (Automobile, Transformers, Electric Tools, Sensors, Home Appliance, Motors, 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 2020-2029

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Extensive insights into the Growth of Electrical Insulating Varnish Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • January 3, 2020: ELANTAS GmbH, announced that it would be expanding its business in India by the acquisition of the wire enamels activities of Hubergroup India. Moreover, the company also stated that the acquired products would be manufactured at the ELANTAS Beck India Ltd.’s Ankleshwar production site.

Global Electrical Insulating Varnish Market Highlights Over 2020 - 2029

The global electrical insulating varnish market is estimated to garner a revenue of USD 2739.3 Million by the end of 2029, up from a revenue of USD 1895 Million in 2020 by growing with a CAGR of 3.9% during the forecast period, i.e., 2021-2029. The growth of the market can primarily be attributed to the rising number of applications of the product in a wide range of end-use industries, such as automotive, transformers, electrical tools, sensors, and home appliances among others. One of the major areas where the demand for electrical insulating varnish is anticipated to grow is in the automobile industry. Backed by the shift in preferences for electrical vehicles worldwide, the demand for the product is expected to surge massively, and in turn drive the market growth in the coming years. Added to this is the growing production of motor vehicles globally, which is also expected to accelerate the market growth in the years to come. According to the statistics by the International Organization of Motor Vehicle Manufacturers (OICA), the production of motor vehicles worldwide increased from 58374162 numbers in the year 2000 to 91786861 numbers in the year 2019. Moreover, growing trade on electric motors worldwide is also anticipated to drive the growth od the market during the forecast period.

Electrical Insulating Varnish Market Graph

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 hold the highest market share during the forecast period and further attain the largest market revenue of USD 1116.1 Million by the end of 2029, up from USD 729.6 Million in 2020. The market in the region is also anticipated to grow with the highest CAGR of 5.0% during the forecast period. The market in the Asia Pacific is further segmented by country into India, China, Japan, South Korea, Singapore, Australia, Vietnam, and the Rest of Asia Pacific. Out of the market in these countries, the market in India is expected to hold the highest market share and further attain the largest revenue of USD 500.2 Million by the end of 2029.  CLICK TO DOWNLOAD SAMPLE REPORT

The market in North America, on the other hand, is expected to hold the second-leading market share throughout the forecast period and further grow with a CAGR of 3.4% during the forecast period. The growth of the market in the region can be attributed to the increasing demand for electric motors from various end-use industries, along with the surge in sales of EVs in countries, such as the United States. According to the statistics by the Edison Electric Institute, as of 31st March 2019, more than 1.18 Million EVs were on the road in the United States.

The study further incorporates Y-O-Y Growth, market opportunities, demand & supply and forecast future opportunity in North America (United States, Canada, Mexico), South America, Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX [Belgium, Netherlands, Luxembourg], NORDIC [Norway, Denmark, Sweden, Finland], Poland, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).

Growth Drivers and Challenges Impacting the Growth of the Global Electrical Insulating Varnish Market

Growth Drivers

  • Rapidly Growing Applications of Electrical Insulating Varnish in End-Use Industries
  • Rising Demand for Fuel Efficient and Hybrid Electric Vehicle

Challenges

  • Complexities in the Use of Electrical Insulating Varnish

Global Electrical Insulating Varnish Market Segmentation Synopsis

The global electrical insulating varnish market is segmented on the basis of product-type into wire enamels, impregnation varnish, silicon insulating varnish, bonding varnish, coating varnish, and others. Out of these, the wire enamels segment is anticipated to garner the highest market share during the forecast period. The segment attained a market revenue of USD 680.5 Million in the year 2020 and is further projected to touch USD 956.6 Million by the end of 2029. On the basis of application, the market is segmented into automobile, transformers, electric tools, sensors, home appliance, motors, and others. Out of these segments, the automobile segment is projected to garner the largest market revenue of USD 636.7 Million by the end of 2029. Further, on the basis of method of application, the market is segmented into trickle impregnation method, vacuum pressure impregnation (VPI) method, and dip & flood impregnation method. Out of these segments, the vacuum pressure impregnation (VPI) method segment garnered the largest market revenue of USD 980.9 Million in the year 2020 and is further expected to reach USD 1445.4 Million by the end of 2029. The segment is also expected to grow with the highest CAGR of 4.1% during the forecast period.

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 Group, Showa Denko Materials Co., Ltd., Sichuan Dongfang Insulating Material Co., Ltd., ELANTAS GmbH, Momentive Performance Materials Inc., and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • 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.

FREQUENTLY ASKED QUESTIONS

Global Electrical Insulating Varnish Market TOC

  1. Introduction
    1. Market Definition
    2. Market Segmentation
  2. Assumptions and Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
    3. Secondary Research
    4. Market Size Estimation
  4. Executive Summary – Global Electrical Insulating Varnish Market
  5. Industry Value Chain Analysis
    1. Raw Material Supplier
    2. Manufacturer
    3. Suppliers/Distributors
    4. End-users
    5. List of Key Players across the value chain
  6. Market Dynamics
    1. Market Drivers
    2. Market Restraint
    3. Market Opportunities
    4. Market Trends
  7. Regulatory and Standards Landscape
  8. Industry Risk Analysis
  9. Pricing Analysis
  10. Market Evaluation of COVID-19 – Impact on Global Electrical Insulating Varnish Market (2020-2029)
    1. Impact on the Manufacturers
    2. Impact on the Supply & Distribution
    3. Impact on the Key Market Players
    4. Quarter Wise Analysis of COVID-19
    5. Pre-Covid & Post-Covid Analysis
  11. Competitive Landscape
    1. Competitive Feature Analysis
    2. Competitive Benchmarking
    3. Market Share Analysis-2020
    4. Company Profiles
      1. Nitto Denko Corporation
      2. DuPont de Nemours, Inc.
      3. KYOCERA Corporation
      4. Axalta Coating Systems, LLC
      5. Von Roll Group
      6. Showa Denko Materials Co., Ltd.
      7. Sichuan Dongfang Insulating Material Co., Ltd.
      8. ELANTAS GmbH
      9. Momentive Performance Materials Inc.
  12. Global Electrical Insulating Varnish Market
    1. Market Overview
    2. Market by Value (USD Million)
  13. Global Electrical Insulating Varnish Market – Segmentation Analysis 2020-2029
    1. Market Overview
    2. Market by Value (USD Million)
    3. Product-Type, 2020-2029 (USD Million)
      1. Wire Enamels, 2020-2029 (USD Million)
      2. Impregnation Varnish, 2020-2029 (USD Million)
      3. Silicon Insulating Varnish, 2020-2029 (USD Million)
      4. Bonding Varnish, 2020-2029 (USD Million)
      5. Coating Varnish, 2020-2029 (USD Million)
      6. Others, 2020-2029 (USD Million)
    4. Application, 2020-2029 (USD Million)
      1. Automobile, 2020-2029 (USD Million)
      2. Transformers, 2020-2029 (USD Million)
      3. Electric Tools, 2020-2029 (USD Million)
      4. Sensors, 2020-2029 (USD Million)
      5. Home Appliance, 2020-2029 (USD Million)
      6. Motor, 2020-2029 (USD Million)
      7. Others, 2020-2029 (USD Million)
    5. Method of Application, 2020-2029 (USD Million)
      1. Trickle Impregnation Method, 2020-2029 (USD Million)
      2. Vacuum Pressure Impregnation (VPI) Method, 2020-2029 (USD Million)
      3. Dip and Flood Impregnation Method, 2020-2029 (USD Million)
  14. Global Electrical Insulating Varnish Market, By Region, 2020-2029
    1. North America, 2020-2029 (USD Million)
    2. Europe, 2020-2029 (USD Million)
    3. Asia Pacific, 2020-2029 (USD Million)
    4. Latin America, 2020-2029 (USD Million)
    5. Middle East & Africa, 2020-2029 (USD Million)
  15. North America Electrical Insulating Varnish Market
    1. Leading players in the region
    2. Pricing Outlook (USD)
    3. Market Segmentation by:
      1. Product-type, 2020-2029 (USD Million)
        1. Wire Enamels, 2020-2029 (USD Million)
        2. Impregnation Varnish, 2020-2029 (USD Million)
        3. Silicon Insulating Varnish, 2020-2029 (USD Million)
        4. Bonding Varnish, 2020-2029 (USD Million)
        5. Coating Varnish, 2020-2029 (USD Million)
        6. Others, 2020-2029 (USD Million)
      2. Application, 2020-2029 (USD Million)
        1. Automobile, 2020-2029 (USD Million)
        2. Transformers, 2020-2029 (USD Million)
        3. Electric Tools, 2020-2029 (USD Million)
        4. Sensors, 2020-2029 (USD Million)
        5. Home Appliance, 2020-2029 (USD Million)
        6. Motor, 2020-2029 (USD Million)
        7. Others, 2020-2029 (USD Million)
      3. Method of Application, 2020-2029 (USD Million)
        1. Trickle impregnation method, 2020-2029 (USD Million)
        2. Vacuum pressure impregnation (VPI) method, 2020-2029 (USD Million)
        3. Dip and flood impregnation method, 2020-2029 (USD Million)
      4. Country, 2020-2029 (USD Million)
        1. United States, 2020-2029 (USD Million)
        2. Canada, 2020-2029 (USD Million)
  16. Europe Electrical Insulating Varnish Market
    1. Leading players in the region
    2. Pricing Outlook (USD)
    3. Market Segmentation by:
      1. Product-type, 2020-2029 (USD Million)
      2. Application, 2020-2029 (USD Million)
      3. Method of Application, 2020-2029 (USD Million)
      4. Country, 2020-2029 (USD Million)
        1. United Kingdom, 2020-2029 (USD Million)
        2. Germany, 2020-2029 (USD Million)
        3. France, 2020-2029 (USD Million)
        4. Italy, 2020-2029 (USD Million)
        5. Spain, 2020-2029 (USD Million)
        6. Russia, 2020-2029 (USD Million)
        7. Netherlands, 2020-2029 (USD Million)
        8. Rest of Europe, 2020-2029 (USD Million)
  17. Asia Pacific Electrical Insulating Varnish Market
    1. Leading players in the region
    2. Pricing Outlook (USD)
    3. Market Segmentation by:
      1. Product-type, 2020-2029 (USD Million)
      2. Application, 2020-2029 (USD Million)
      3. Method of Application, 2020-2029 (USD Million)
      4. Country, 2020-2029 (USD Million)
        1. India, 2020-2029 (USD Million)
        2. China, 2020-2029 (USD Million)
        3. Japan, 2020-2029 (USD Million)
        4. South Korea, 2020-2029 (USD Million)
        5. Singapore, 2020-2029 (USD Million)
        6. Australia, 2020-2029 (USD Million)
        7. Vietnam, 2020-2029 (USD Million)
        8. Rest of Asia Pacific, 2020-2029 (USD Million)
  18. Latin America Electrical Insulating Varnish Market
    1. Leading players in the region
    2. Pricing Outlook (USD)
    3. Market Segmentation by:
      1. Product-type, 2020-2029 (USD Million)
      2. Application, 2020-2029 (USD Million)
      3. Method of Application, 2020-2029 (USD Million)
      4. Country, 2020-2029 (USD Million)
        1. Brazil, 2020-2029 (USD Million)
        2. Mexico, 2020-2029 (USD Million)
        3. Argentina, 2020-2029 (USD Million)
        4. Rest of Latin America, 2020-2029 (USD Million)
  19. Middle East & Africa Electrical Insulating Varnish Market
    1. Leading players in the region
    2. Pricing Outlook (USD)
    3. Market Segmentation by:
      1. Product-type, 2020-2029 (USD Million)
      2. Application, 2020-2029 (USD Million)
      3. Method of Application, 2020-2029 (USD Million)
      4. Country, 2020-2029 (USD Million)
        1. GCC, 2020-2029 (USD Million)
        2. South Africa, 2020-2029 (USD Million)
        3. Israel, 2020-2029 (USD Million)
        4. Rest of Middle East & Africa, 2020-2029 (USD Million)

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