Global Electrical Insulating Varnish Market is expected to grow at 5.3% CAGRtill 2025 | Sheer Analytics and Insights
Global Electrical Insulating Varnish market in terms of revenue is expected to grow at a CAGR of 5.3% from 2018 to 2025 as per new market research report titled Global Electrical Insulating Varnish Market(by-product- wire enamels, impregnation varnish, silicon insulating varnish, coating varnish, bonding varnish, and others. By application- sensors, transformers, electric tools, automobile, motors, home appliance, and others. By a method of application- vacuum-pressure impregnation (VPI) method, trickle impregnation method, dip, and flood impregnation method) – global industry analysis, size, share, growth, trends, and forecast, 2018 – 2025, by Sheer Analytics & Insights Pvt. Ltd.
One of the most important components for products of sensors, motor, transformers, and generators are the insulating varnishes. Varnishes, in fact, are liquid insulators which aid in the coating and gluing of wires together when it is cured. The properties of mechanical integrity along with thermal conductivity are further enhanced by varnishes. Additionally, varnishes ensure security of insulation system from externally environmental factors. The wide applications of insulating varnishes in the field of electromagnetic induction such as motors, sensors, and transformers are estimated to create vast opportunities of demand and growth in the foreseeable future.
As electrical insulating varnishes strongly rely on its impregnation, it may be labeled as primary or secondary insulation. The rise in usage of electric devices worldwide ensures the market demand for electrical insulating varnishes remains high. A surge in market demand is expected to be witnessed in various automotive industries owing to the rise in demand for hybrid electric vehicles, and fuel-efficient electric vehicles. Furthermore, the advantageous properties of varnishes along with its ever-increasing usage in electrical devices will continue to propel the growth of the market over the forecasted period.
In the recent market research reports that were published by Sheer Analytics & Insights, the global Electrical Insulating Varnishmarket has been segmented based on product, application, and method of application. Based on the product, the market is segmented into wire enamels, impregnation varnish, silicon insulating varnish, coating varnish, bonding varnish, and others. Based on the application the global Electrical Insulating Varnishmarket has been bifurcated in sensors, transformers, electric tools, automobile, motors, home appliance, and others. Based on method of application, the market has been segmented into vacuum-pressure impregnation (VPI) method, trickle impregnation method, dip, and flood impregnation method.
The market is further segmented into geographical region North America, Middle East & Africa, Asia-Pacific, and Latin America. The Asia Pacific and North America are the two regions which hold the largest market share for electrical insulating varnish. The reason for making a significant effect on the Asia-Pacific region may be attributed to the huge demand for hybrid electric vehicles along with the growing presence of electronic manufacturing companies in China and Japan.
Axalta Coating Systems launched – Voltatex 1230- a new electrical steel coating. Voltatex 1230 is an organic-based varnish, with exceptional corrosion resistance, and insulation properties.
Christoph Lomoschitz, Axalta’s Global Product Manager for the Energy Solutions Business said, “Our electrical steel coatings have an excellent reputation for delivering remarkable performance for our customers. At Axalta we innovate with purpose. We continually strive to introduce new products to the market that offer increased benefits and extend our customers’ offerings; Voltatex 1230 is no exception. This new product complements our existing Voltatex products perfectly.”
The major companies in the global electrical insulating varnish market include Fupao Chemical, Nitto Denko Corporation, Dongfang Insulating, Taihu Electric among others.
Global Electrical Insulating Varnish Market: By Product
- Wire Enamels
- Impregnation Varnish
- Silicon Insulating Varnish
- Coating Varnish
- Bonding Varnish
Global Electrical Insulating Varnish: By Application
- Electric Tools
- Home Appliance
Global Electrical Insulating Varnish: By Method of Application
- Vacuum-Pressure Impregnation (VPI) Method
- Trickle Impregnation Method
- Dip and Flood Impregnation Method
Global Electrical Insulating Varnish Market: By Geography
- Rest of Europe
- Rest of Asia Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of Latin America
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