New York City, NY, 06 April, 2020/ 24 Market Reports: The global impregnating resins market is estimated to reach USD 1.9 billion by 2025, at a CAGR of 6.5%. Increasing industrialization, rapid urbanization, and transformations in power generation, distribution & transformation infrastructure are driving the market during the forecast period. The replacement of the combustion engine in automobiles with an electric motor is also the driving factor during the forecast period.
Room temperature impregnation, excellent stability, very high reactivity, and versatile processability are the advantages offered by solventless impregnation that are driving the growth of the segment. The solventless impregnating resins segment is a group of resins that have better properties to sustain for secondary insulation. These resins have low viscosity that ensures fast and deep impregnation of rotational machines.
The automotive components segment is projected to register the highest CAGR between 2020 and 2025. Impregnating resins are used for the impregnation of starters & alternators in conventional vehicles and electric motors in electric vehicles. Accelerated decarbonization, and stringent regulations to reduce greenhouse gas emission (GHG), are propelling the demand for electric vehicles, which ultimately boosts the consumption of impregnating resins. Also, government initiatives such as the development of charging infrastructure and subsidies on electric vehicles are also driving the impregnating resins market.
APAC region is estimated to lead the market during the forecast period. China, India, Indonesia, Malaysia, Vietnam, and Thailand are the major regions in the market of APAC. Local governments are making efforts to build infrastructure for industrial expansion and to attract foreign direct investments across these regions.