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Electrotechnical Paper Market

Electrotechnical Paper Market Size, Share Analysis, By Product (Presspaper, Diamond Dotted Presspaper, Presspaper with Polyester Film, Crepe Paper Aluminum Crepe Paper), By Application (Cables, Transformers, Motors), By Sales Channel & Region - Global Market Forecast 2022-2032

Analysis of Electrotechnical Paper market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Electrotechnical Paper Market Outlook (2022-2032)

The global electrotechnical paper market is set to enjoy a valuation of US$ 1,017.7 million in 2022 and further expand at a CAGR of 4.7% to reach US$ 1,613.1 million by the end of 2032.

Sales of electrotechnical paper market is expected to grow by 1.6X the end of 2032.

Report Attributes

Details

Electrotechnical Paper Market Size (2021A)

US$ 970.7 million

Estimated Market Value (2022E)

US$ 1,017.7 million

Forecasted Market Value (2032F)

US$ 1,613.1 million

Global Market Growth Rate (2022-2032)

4.7% CAGR

North America Market Share (2022)

~ 23.6%

North America Market Value (US$ Mn), 2022

US$ 240.7 Million

Europe Market Share (%), 2022

~23.3%

Europe Market Value (US$ Mn), 2022

US$ 237.5 Million

China Market Share (%), 2022

~12.2%

China Market Value (US$ Mn)

US$ 124.5 Million

Top 3 country Market Share (%)

~36%

Key Companies Profiled

  • Ahlstrom-Munksjö Oyj
  • 3M Co
  • Von Roll Holding AG
  • Weidmann Electrical Technology AG
  • Hitachi ABB Power Grids
  • DuPont de Nemours, Inc.
  • Nordic Paper Holding AB
  • Delfort Group AG
  • Kämmerer Paper GmbH
  • Cottrell Paper Company
  • Miki Tokushu Paper MFG. CO., Ltd.
  • Paramount Tube

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Sales Analysis of Electrotechnical Paper Market (2017-2021) Vs. Market Forecast Outlook (2022-2032)

Driven by a focus on research and development and rising investments in the power and energy sector, the electrotechnical paper market will rise at a 4.7% CAGR between 2022 and 2032 in comparison to the 1.1% CAGR registered during 2017-2021.

The growth in global electricity demand is primarily driven by developing economies and are also focusing on improving the access towards energy. This, in turn, opens up opportunities for the electrotechnical paper players as these economies will move towards setting up new electricity grid and infrastructure.

China remains the largest market for electricity accounting for over 29% of the share. This is anticipated to drive the demand for electrotechnical paper market in the country. On other hand US is expected to show a downfall owing to developed transmission and distribution network in the country.

  • Short Term (2022 Q2 to 2025): Increasing utilization and integration of electrotechnical paper in the cables & transformer to positively impact electrotechnical paper market growth.
  • Medium Term (2025-2028): Asia Pacific region is anticipated to witness high electrotechnical paper demand due to investment in electricity sectors in these regions, by the Governments and power and energy sector.
  • Long Term (2028-2032): Increase in the production of diamond dotted presspaper will drive electrotechnical paper manufacturer sales.

Over the 2017-2021 historical period, the global electrotechnical paper market registered a CAGR of 1.1%, and according to the Fact.MR, a market research and competitive intelligence provider, the market is projected to exhibit growth at 4.7% CAGR between 2022 and 2032.

Global electrotechnical paper market forecast by Fact.MR

Market share analysis of electrotechnical paper based on application and region is provided in a nutshell in the above image. Under the application segment, transformer sub-segment dominates with 46.6% market share in 2022.

Electrotechnical Paper Market

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What’s Driving Demand for Electrotechnical Paper?

“Aging and Inadequate Transmission and Distribution Infrastructure to Drive Sale of Electrotechnical Papers.”

The underinvestment in transmission and distribution infrastructure and increasing demand for electricity have increased the pressure on electricity grids, globally. Further, the existing electric power delivery relies on aging equipment, which therefore requires replacement and upgrade of existing infrastructure.

Such need for replacement and upgradation of transmission and distribution infrastructure is expected to unlock growth avenues for the electrotechnical paper market during the forecast period. For instance, nearly 70% of the transformers are over 25 years old in the United States, according to the US Department of Energy (DOE).

Therefore, developed and developing countries are taking steps to increase their investment in transmission and distribution infrastructure as a result of grid congestion and aged transformers. The demand for T&D is anticipated to rise as a result of an increase in government spending, which will also increase demand for electrotechnical papers.

“Pivotal Role of European Manufacturers in Global Electrotechnical Paper Trade to Bolster Market Growth.”

The rising export of electrotechnical from EU countries has encouraged demand for electrotechnical papers over the past few years. Europe has a high concentration of electrical insulation companies particularly tier 1 companies such as Ahlstrom-Munksjö Oyj, Belfort Group AG, and Weidmann Electrical Technology AG who have established a strong foothold in the European market as well as globally.

These players have established a strong distribution network and also targeted the least penetrated potential markets. Moreover, companies focusing on developing long-term relationships with their customers globally are encouraging players to set up their distribution base in multiple countries. Such initiatives by manufacturers are expected to support the growth of the electrotechnical paper market during the forecast period.

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Competitive landscape highlights only certain players
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What Do Electrotechnical Paper Manufacturers Need to Watch Out for?

“Growing Emphasis on Customized Electrotechnical Paper to Benefit Market”

Electrotechnical paper plays an important role in the energy and power industry and the imposition of stringent regulations has necessitated the use of high-quality insulation paper. For that, manufacturers in the electrotechnical paper market are focusing on supplying customized solutions to their customers according to their requirements.

For instance, Europe’s Ahlstrom-Munksjö Oyj offers customized width papers to meet modern requirements. This is anticipated to create ample opportunities for players operating in the electrotechnical paper market. Moreover, manufacturers are working closely with their customers, suppliers, and engineers in order to better understand the needs and serve them with high-performance electrotechnical paper as each customer has different needs. Therefore, customized products can assist in raising the sales of electrotechnical paper in the foreseeable future.

Country-wise Insights

Why the US Electrotechnical Paper Market is expected to Decline?

US market BPS points has decreased by 49 points in North America region over the period of 2017-2021. To attract US manufacturers, European countries have increased their focus on know-how in knowledge-intensive manufacturing and developing the capacity of sectors such as motors, transformers, and cables.

This has resulted into decrease in valuation of US market. Also United States’ demand is primarily driven by sectors where high-voltage cables, transformers, bushings, and other electrical applications are used in the country. The US market for electrotechnical paper is expected to reach a valuation of US$ 285.5 million in 2032.

Why is the China Electrotechnical Paper Market Expected to Grow?

East Asia was the largest region in the global electrotechnical market, accounting for 23.6% of the market in 2021. The demand for power transformers in East Asia countries particularly in China is increasing owing to the several transmission and distribution expansion projects in these countries. Asia is expected to dominate the power transformer demand with more than 55% owing to the need for grid reliability and stability. Such growth is expected to propel the electrotechnical paper demand in the China.

The electrotechnical paper market in East Asia is expected to hold and maintain its dominant share in the market. The potential of the market in China and Japan is expected to grow significantly due to the several investments by the government in the power and energy sector.

The china market for electrotechnical paper in East Asia is expected to reach a valuation of US$ 124.5 million in 2022.

Category-wise Insights

Sale through Online Channels to Strengthen Demand for Electrotechnical Paper?

Along with the digitalization overhaul witnessed in the recent past, e-Commerce websites have gained significant popularity in offering electrotechnical paper. Owing to the pandemic caused by COVID-19, North America and Europe are the most affected regions. Therefore, the outbreak of this pandemic has shifted the consumer focus towards e-Commerce platforms. Besides, there are several manufacturers who have started to provide these insulation papers through their websites.

This in turn, will strengthen the demand for electrotechnical paper. Further, e-Commerce and third party online sales channel have enabled in the movement of manufactured goods globally, thereby creating ample opportunities for manufacturers in the electrotechnical paper market.

Is Adoption of Eco-Efficient Power Transformers is increasing?

The widespread presence of electricity has upsurge the need for transformers everywhere. The demand for transformers is contingent on the need for electricity as modern world extensively relies on electrical grid. Therefore, manufacturers in the market are focusing on producing eco-efficiency transformers, which can be more sustainable and resource efficient by implementing technology that reduces failure rates.

Such adoption of eco-efficient transformers is foreseen to compliment the demand for electrotechnical paper as they are integrated in transformers. Further, eco-efficient transformers improve the lifecycle costs with limited maintenance needs and increased service lifetime. Thus, constant innovation in products is therefore one of the factors creating opportunities for the global electrotechnical paper market.

All in all, transformer application electrotechnical paper is expected to generate absolute $ opportunity of US$ 200.3 million by 2032.

Competitive Landscape

Electrotechnical paper manufacturers are Ahlstrom-Munksjö Oyj, 3M Co, Von Roll Holding AG, Weidmann Electrical Technology AG, Hitachi ABB Power Grids, DuPont de Nemours, Inc., Nordic Paper Holding AB, Delfort Group AG, Kämmerer Paper GmbH, Cottrell Paper Company,Miki Tokushu Paper MFG. CO., Ltd., Paramount Tube.

Prominent players are focusing on expanding their reach by entering into several agreements with industry players. Through these agreements, companies are emphasizing on strengthening their market presence to gain a competitive advantage over other players.

  • In 2020, Hitachi ABB Power Grid signed a definitive agreement for the acquisition of US-based Pioneer Solutions LLC. Through this acquisition, the company will expand its existing Energy Portfolio Management offering to create new value for energy market participants
  • In 2020, Weidmann Electrical Technology AG, it introduced a new device to detect the transformer failures InsuLogix Retrofittable Fault Monitor (RFM). The newly launched device activates a red indicator that clearly flags transformers with overpressure conditions and allows to monitor distribution transformers.
  • In 2020, Ahlstrom-Munksjö Oyj, the company announced an investment in its Binzhou plant in China. Through this investment, the company will further strengthen its leading position in abrasive backings, globally.

Fact.MR has provided detailed information about the price points of key manufacturers of electrotechnical paper positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Electrotechnical Paper Industry Research

  • By Product:

    • Press paper
    • Diamond Dotted Press paper
    • Press paper with Polyester Film
    • Crepe Paper
    • Aluminum Crepe Paper
  • By Applications:

    • Cables
    • Transformers
    • Motors
    • Others
  • By Sales Channel:

    • OEM (First Fit)
    • Aftermarket (Replacement)
      • Direct Sales
      • Retail Sales
      • Third-party Online Sales
  • By Region:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • MEA

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The global electrotechnical paper market is valued at US$ 1,017.7 million in 2022.

Worldwide demand for electrotechnical paper is anticipated to reach US$ 1,613.1 million by 2032-end.

Presspaper with polyester film electrotechnical paper account for 33.4% share of global sales in 2022.

East Asia tops the global electrotechnical paper market accounting for 23.6% market share in 2022.

During 2017-2021, sales of electrotechnical paper increased at 1.1% CAGR.

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