Global Electrical Insulating Varnish Market Growth 2019-2024

Electrical insulating varnish are used to ensure electrical devices, including motors, generators, transformers, sensors and other devices that function by electromagnetic induction, have the necessary electrical insulation and structural integrity for operation. Insulating varnishes and impregnating resins are almost always thermosetting resins such as epoxies or phenolics. This material is crosslinking when applied and therefore inherently strong, environmentally stable, impervious and durable.
The market of Electrical Insulating Varnish is concentrated. Of the 2017 global market, the top 10 companies, all multinational, account for about 61.68% of sales. Elantas is by far the leader, with nearly 24.74% of the market. Over 100 companies account for the balance. As major suppliers are seeking acquisition to expand global presence, the market concentration is estimated to increase in the comming 5 years.
Electrical Insulating Varnish can be categorized as Wire Enamels, Impregnation Varnish etc. Wire Enamels is the major type of Wire Enamels with market share of 62.48% in 2017. Impregnation Varnish is organic varnishes & solventless resins are widely used in the insulation system of electrical machines for impregnation applications. Impregnation Varnish has experienced a higher growth rate in overall Electrical Insulating Varnish market with CAGR above 6 % for the past several years.
Main application of insulating varnishes is for electrical equipment such as motors, generators and transformers and to other electrical apparatus in general Grade CB, in most instances, gives maximum protection to the windings from moisture, oil, sea water, and other deleterious substances. As the economy recovers, the demand for electrical insulating varnish will continue to grow at a high rate.

According to this study, over the next five years the Electrical Insulating Varnish market will register a 4.3% CAGR in terms of revenue, the global market size will reach US$ 2470 million by 2024, from US$ 1920 million in 2019. In particular, this report presents the global market share (sales and revenue) of key companies in Electrical Insulating Varnish business, shared in Chapter 3.

This report presents a comprehensive overview, market shares, and growth opportunities of Electrical Insulating Varnish market by product type, application, key manufacturers and key regions and countries.

This study considers the Electrical Insulating Varnish value and volume generated from the sales of the following segments:

Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.
Wire Enamels
Impregnation Varnish
Other
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.
Motors
Transformers
Home Appliance
Electric Tools
Other

This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Spain
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Elantas
Hitachi Chemical
Von Roll
Kyocera
Axalta
Superior Essex
TOTOKU TORYO
AEV
Spanjaard
Emtco
Xianda
RongTai
Taihu Electric
Jiaxing Qinghe Gaoli
JuFeng

In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.

Research objectives
To study and analyze the global Electrical Insulating Varnish consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Electrical Insulating Varnish market by identifying its various subsegments.
Focuses on the key global Electrical Insulating Varnish manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Electrical Insulating Varnish with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
To project the consumption of Electrical Insulating Varnish submarkets, with respect to key regions (along with their respective key countries).
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.