Electrotechnical Paper Market Overview
Electrotechnical paper is gaining significant traction because of its extensive application across a broad range of applications in transformers, motors, and cables, to name a few. This paper is used for insulation purposes, is broadly employed in electrically conducting materials, and prevents accidental electrical shocks. Moreover, the expansion of the electrotechnical paper market size in primarily driven by power network upgrades to improve access towards energy.
However, concerns over the COVID-19 pandemic have restricted the short-term growth of the market, as several investment activities to set-up grid infrastructure have been halted. Due to the pandemic, key manufacturers are witnessing fluctuation in demand, which mainly changes market trends. In a new study, Fact.MR has estimated that the global electrotechnical paper market will reach a valuation of US$ 1.5 Bn by 2030.
Electrotechnical Paper Market Insights by Application
Electrotechnical paper used in transformers is one of the most prominent applications and is expected to account for 46% of the market share, by reaching a valuation of US$ 434 Mn by the end of 2020. Widespread presence of electricity has surged the need for transformers. Demand for transformers is contingent on the need for electricity, as the modern world extensively relies on electrical grids. This, in turn, is expected to supplement the growth of the electrotechnical paper market, as it serves as insulation of transformers.
In addition, several transmission and distribution projects in developing economies are expected to create demand for transformers, owing to the need for grid reliability and stability. Such projects are expected to propel demand in the electrotechnical paper market space. Further, electrotechnical paper has a replacement cycle of 6-8 months in transformers, which, in turn, is expected to boost the sales of electrotechnical paper during the forecast period.
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Electrotechnical Paper Market Insights by Sales Channel
Among the sales channels, the aftermarket (replacement) sales channel is expected to capture around 77% of the market share in 2020. Electrotechnical paper has a high-replacement cycle, which is expected to unlock growth avenues for the electrotechnical paper market during the forecast period. Further, manufacturers in the electrotechnical paper market are focusing on collaborating directly with power and distribution authorities and industry players, which, in turn, is supporting direct sales.
On the other hand, e-Commerce websites have gained significant popularity for electrotechnical paper. North America and Europe are the most affected regions by the COVID-19 pandemic. The outbreak has shifted consumer focus towards e-Commerce platforms. This, in turn, will push manufacturers to offer their products through third-party online sales channels.
Regional Outlook of Electrotechnical Paper Market
North America is expected to dominate the electrotechnical paper market share, followed by Europe, in 2020, and is foreseen to maintain its dominance in terms of value as well as volume over the forecast period. Aging and inadequate transmission and distribution infrastructure in the region is foreseen to drive the sales of electrotechnical paper. The region is estimated to exhibit a CAGR of 5.4% over the forecast period.
As per the US Department of Energy (DOE), nearly 70% of transformers are 25 years old. Therefore, owing to grid congestion and aging transformers, the government is taking measures to expand investments in transmission and distribution infrastructure. An upsurge in government spending is expected to propel demand for T&D, in turn, boosting the electrotechnical paper market.
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Electrotechnical Paper Market: Competitive Landscape
The electrotechnical paper market is highly fragmented in nature, with the presence of a large number of local players. Some of the prominent players in the market are Ahlstrom-MunksjöOyj, 3M Co., Hitachi ABB Power Grids, and Weidmann Electrical Technology AG, among others.
These 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.
- For instance, in 2020, Hitachi ABB Power Grid signed a definitive agreement for the acquisition of U.S.-based Pioneer Solutions LLC. Through this, the company will expand its existing Energy Portfolio Management offering to create new value for energy market participants.
COVID-19 Impact on Electrotechnical Paper Market
The effects of COVID-19 have been profound in recent times, which is thereby having significant implications on various sectors. Electrotechnical technical paper is used in transformers and power grids, and owing to high-investment cost to set up new grid infrastructure, investment activities have been suspended.
This, in turn, will have major ramifications on the global electrotechnical paper market in the short term. Moreover, companies operating in the market also engage in export of insulation paper, and the outbreak of COVID-19 has put a hold on the movement of goods.
However, manufacturers are focusing on maintaining strong relationships with customers and suppliers in order to ensure uninterrupted access to products that their customers rely upon.
Moreover, post COVID-19 crisis, manufacturers will focus on increasing their presence in developing countries and will ramp up production to meet industry demand. Thus, in the long run, the electrotechnical paper market is anticipated to regain its original momentum.
An Adaptive Approach to Modern-day Research Needs
The Analyst’s Viewpoint
“The unprecedented impact of COVID-19 will have short-term implications on the electrotechnical paper market. Expansion of the market will rely on the replacement cycle of electrotechnical paper in several applications, which will enable manufacturers to meet demand. Further, increasing demand for reliable power delivery will foster growth of the electrotechnical papers market.”
Key Segments of Electrotechnical Paper Market
Fact.MR’s study on the electrotechnical paper market offers information divided into four key segments— product, application, sales channel, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
- Diamond Dotted Presspaper
- Presspaper with Polyester Film
- Crepe Paper
- Aluminum Crepe Paper
- OEM (First Fit)
- Aftermarket (Replacement)
- Direct Sales
- Retail Sales
- Third-party Online Sales
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa (MEA)
Global Electrotechnical Paper Market - Scope Of The Report
Fact.MR recently published a market study on the global market for electrotechnical paper. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the electrotechnical paper market structure. The market study presents exclusive information about how the electrotechnical paper market will grow during the forecast period of 2020-2030.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact.MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the electrotechnical paper market during the forecast period.
The study is relevant for stakeholders in the electrotechnical paper market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the electrotechnical paper market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to the macro- as well as micro-economic factors that are impacting developments in the electrotechnical paper market. It also offers actionable insights based on future trends in the electrotechnical paper market. Furthermore, small businesses and new entrants in the electrotechnical paper market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
Key Questions Answered in Fact.MR’s Electrotechnical Paper Market Report
- Which regions will continue to remain the most profitable regional markets for electrotechnical paper market players?
- Which factors will induce a change in the demand for electrotechnical paper during the assessment period?
- How will changing trends impact the electrotechnical paper market?
- How can market players capture the low-hanging opportunities in the electrotechnical paper market in developed regions?
- Which companies are leading the electrotechnical paper market?
- What are the winning strategies of stakeholders in the electrotechnical paper market to upscale their position in this landscape?
Electrotechnical Paper Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the electrotechnical paper market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary research and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by Fact.MR analysts during the preparation of the electrotechnical paper market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the electrotechnical paper market report as a primary resource.
Electrotechnical Paper Market: In-depth Analysis on Competitive Landscape
The report sheds light on the leading manufacturers of electrotechnical paper, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of electrotechnical paper has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take pre-emptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status and predicting the competition level in the electrotechnical paper market.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
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