Impregnating Resins Market Research Report- Forecast to 2030

Impregnating Resins Market Research Report Information by Type (Solvent-Based, Solvent less, and Others), Application (Motors & Generators, Transformers, Appliances, Automotive Components, and Others), and Region (North America, and Others)— Forecast till 2030

ID: MRFR/CnM/5555-HCR | 140 Pages | Author: Chitranshi Jaiswal | March 2024         

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Global Impregnating Resins Market Overview


Impregnating resins market size was valued at USD 1.94 Billion in 2022. The impregnating resins market industry is projected to grow from USD 1.98 Billion in 2023 to USD 3.42 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.6% during the forecast period (2023 - 2030). The impregnating resins are used along with the metal enamels in the manufacturing industry and they are used for manufacturing generators, motors, and transformers. The different components in the electrical industry include wire windings, laminated cores, and insulating materials that require impregnating resins. The increasing number of manufacturing facilities and the growing demand for wire windings, iron cores, and other automotive components across the globe are presenting a lucrative opportunity for the overall growth of impregnating resins industry.


IMPREGNATING RESINS Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Impregnating Resins Market Trends




  • Increasing demand in the electrical and electronics industry to boost the market growth




Impregnating resins are called secondary insulation materials in the industrial language, and it is used where the demand for flexible insulation is required. They are highly employed in electric motors, transformers, and other electrical devices where insulation and structural integrity are required. Therefore, mechanical stability and protection from harsh conditions are also offered by the impregnating resins. Such factors are considered the major drivers of impregnating resin market growth. The potential characteristics of the impregnating resins that include excellent moisture resistance, withstanding harsh climatic conditions, increasing the life of the equipment on which they are used, biological decay defense mechanism, and eco-friendly properties are considered the major drivers of impregnating resins market growth.


Additionally, developed countries are bringing advancements into the automotive industry, and incorporating modernization. Also, the increasing demand for electrical devices and maintaining them for long period are impacting the overall growth of impregnating resins industry. Additionally, the potential market players are bringing new technological advancements into the industry and such factors are expected to boost the overall growth of impregnating resin industry during the forecast period. The potential market players are carrying out several inorganic strategies to promote the growth of the impregnating resins industry and bring in several product launches, getting approvals for them and thereby paving way for the impregnating resins market growth during the forecast period. Moreover, the end-user industries carry out the trickle impregnation method to reduce the wastage of the resin and they also help in getting quicker production cycles. Such factors are expected to boost the overall growth of impregnating resins industry during the forecast period.


Impregnating Resins Market Segment Insights


Impregnating Resins Type Insights


The impregnating resins market segmentation, based on Type, includes solvent-based, solventless, and others. The solventless segment is expected to hold the largest share of the market during the forecast period. The growth is due to their superior performance such as high reactivity, stability at room temperature, high resin film build, adaptability on any type of machine and process, and excellent technical properties when compared with other impregnating resins.


Impregnating Resins Application Insights


Based on Application, the impregnating resins market segmentation includes motors and generators, transformers, home appliances, automotive components, and others. The automotive components segment is estimated to be the fastest-growing application segment during the forecast period. The growth of this segment is bolstered by technological developments in the automotive industry. For instance, GM (model name: Bolt), Nissan (model name: Leaf), and Tesla Motors have successfully commercialized electric vehicles in the passenger car market.


Figure 2:  Impregnating Resins Market, by Type, 2022 & 2030 (USD Billion)
IMPREGNATING RESINS Market, by Type, 2022 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


Impregnating Resins Regional Insights


By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. the Asia-pacific region is expected to witness the highest growth rate in impregnating resins industry, as they possess intensive manufacturing and automotive industries across the region. The favorable economic condition of the countries like China, India, Indonesia, Vietnam, Thailand, and other parts of the region combined with favorable government support are burgeoning the growth of impregnating resins industry. The government of the countries in the region is focusing on bringing electricity to the rural areas and they are involved in urbanizing their countries. Additionally, these countries possess cheap labor and they are involved in expanding the industrial verticals by imposing plans and increasing investments. Such factors are further propelling the overall growth of impregnating resin industry.


Figure 3:  IMPREGNATING RESINS MARKET SHARE BY REGION 2022 (%)
 IMPREGNATING RESINS MARKET SHARE BY REGION 2022
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review


China is known for its manufacturing facilities and is considered the leading exporter, and consumer of electronics. The demand for smartphones, TVs, and other handheld smart devices across the region is higher than in other parts of the world. The presence of established market players in the electronic industry and the increasing demand is propelling the impregnating resins in the electronic segment across China

Impregnating Resins Key Market Players & Competitive Insights


Major market players are spending a lot of money on R&D to increase their product lines, which will help the impregnating resins market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the impregnating resins industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.


The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for impregnating resins. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the impregnating resins industry must offer affordable products.


Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the impregnating resins industry to benefit customers and expand the market sector. The impregnating resins market has recently given medicine some of the most important advantages. Major impregnating resins market players, including Elantas (Germany), Axalta Coating Systems (US), Voll Roll Holdings (Switzerland), Kyocera Corporation (Japan), Henkel (Germany) and others, are attempting to increase market demand by funding R&D initiatives.


ELANTAS is a manufacturer of insulating and protective materials for the electrical and electronics industry. It offers wire enamels, impregnating resins and varnishes, casting and potting resins, flexible electrical insulation materials, etc.


Also, Axalta Coating Systems is a public company headquartered in Pennsylvania with an estimated 13,000 employees. In the US, the company has a notable market share in at least two industries: Paint Manufacturing, Automotive Coatings Manufacturing, and Paint Manufacturing. Their largest market share is in the Automotive Coatings Manufacturing industry, where they account for an estimated 20.2% of total industry revenue.


Key Companies in the Impregnating Resins market include



Impregnating Resins Industry Developments


In June 2019 AEV Company acquired the whole 100% equity shares of a Hungarian manufacturer, Korax Kft. They are manufacturers of Epoxy and Polyurethane Casting resins used for the electrical and electronic industry.


In October 2018 Kyocera Corporation announced that they will begin the construction of their manufacturing plant in Kanagawa, Japan, and open the facility in April 2020. The facility reportedly will increase the company’s capacity by 50% for conductive and insulation pastes utilized in semiconductors, digital devices, automotive electronics, and energy products, among others. They said that this developed facility will help the company to cater to the increasing demand for impregnating resins ly as well.


Impregnating Resins Market Segmentation


Impregnating Resins Type Outlook




  • Solvent-Based




  • Solvent less




  • Others




Impregnating Resins Application Outlook




  • Motors & Generators




  • Transformers




  • Appliances




  • Automotive Components




  • Others




Impregnating Resins Regional Outlook




  • North America




    • US




    • Canada






  • Europe




    • Germany




    • France




    • UK




    • Italy




    • Spain




    • Rest of Europe






  • Asia-Pacific




    • China




    • Japan




    • India




    • Australia




    • South Korea




    • Australia




    • Rest of Asia-Pacific






  • Rest of the World




    • Middle East




    • Africa




    • Latin America





Report Scope:

Report Attribute/Metric Details
Market Size 2022 USD 1.94 Billion
Market Size 2023 USD 1.98 Billion
Market Size 2030 USD 3.42 Billion
Compound Annual Growth Rate (CAGR) 6.6% (2023-2030)
Base Year 2022
Market Forecast Period 2023-2030
Historical Data 2018 & 2020
Market Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Countries Covered The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Axalta Coating Systems (US), Kyocera Corporation (Japan), ALTANA (Germany), Von Roll Holding AG (Switzerland), Hitachi Chemical Co., Ltd. (Japan), 3M (US), AET (Poland), Wacker Chemie AG (Germany), Vuki a.s. (Slovakia), and Bodo Möller Chemie GmbH (Germany)
Key Market Opportunities Expanding the automotive industry on account of increasing production of electric vehicles
Key Market Dynamics Increasing demand in the electrical and electronics industry Increased product consumption in the HVAC industry




Frequently Asked Questions (FAQ) :

The impregnating resins market size was valued at USD 1.94 Billion in 2022.

The market is projected to grow at a CAGR of 6.6% during the forecast period, 2023-2030.

Asia Pacific had the largest share in the impregnating resins market.

The key players in the market are Axalta Coating Systems (US), Kyocera Corporation (Japan), ALTANA (Germany), Von Roll Holding AG (Switzerland), Hitachi Chemical Co., Ltd. (Japan), 3M (US), AET (Poland), Wacker Chemie AG (Germany), Vuki a.s. (Slovakia), and Bodo Möller Chemie GmbH (Germany)

The solventless category dominated the market in 2022.

The automotive base had the largest share in the market for impregnating resins.

Key Questions Answered

  • Global Market Outlook
  • In-depth analysis of global and regional trends
  • Analyze and identify the major players in the market, their market share, key developments, etc.
  • To understand the capability of the major players based on products offered, financials, and strategies.
  • Identify disrupting products, companies, and trends.
  • To identify opportunities in the market.
  • Analyze the key challenges in the market.
  • Analyze the regional penetration of players, products, and services in the market.
  • Comparison of major players’ financial performance.
  • Evaluate strategies adopted by major players.
  • Recommendations
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