Impregnating Resin Market

Impregnating Resin Market Outlook (2024 to 2034)

The global impregnating resin market is calculated at a size of US$ 1.69 billion in 2024. Global demand for impregnating resins is forecasted to climb at a CAGR of 6.5% and reach a market valuation of US$ 3.18 billion by the end of 2034.

Rising demand for impregnating resins in the electrical sector, particularly for applications, including rotor & motor utilized in vehicle powertrain systems is positively impacting market growth. In addition, they also ensure an equal electricity distribution to various home appliances.

Increasing requirements for long-lasting life and high productivity of motors, generators, and various other industrial machinery are set to contribute to the expanding impregnating resin market size. Infrastructural upgrades along with the introduction of some technologically-advanced equipment in various countries around the world are projected to generate demand for impregnating resins.

In recent years, an increase in the demand for electric vehicles has also been encountered because of surging concerns related to air pollution and climate change. These vehicles are a combination of motors and rotors, which are electrically powered, and further generate demand for impregnating resins for a balanced functioning.

Impregnating resins are used prominently for the assembly of the motor & rotor of different vehicles. Moreover, increasing demand for electric vehicles is estimated to result in the rising adoption of impregnating resins for insulation purposes. Infrastructural modernization and the development of technologically advanced equipment in the electrical industry are also driving demand for impregnating resins. They are also utilized in electrical grids used in renewable energy sources, including solar and wind power. Transformers are pivotal in stepping voltage up and down to accommodate the power fluctuation in renewables.

• Worldwide sales of solvent-based impregnating resins are projected to rise at a CAGR of 7.4% and reach US$ 684.1 million by the end of 2034.
• Demand for impregnating resins in Japan is forecasted to increase at 5.9% CAGR from 2024 to 2034.
• East Asia is approximated to account for 27.1% of the global impregnating resin market share by 2034-end.

Report Attribute	Detail
Impregnating Resin Market Size (2024E)	US$ 1.69 Billion
Forecasted Market Value (2034F)	US$ 3.18 Billion
Global Market Growth Rate (2024 to 2034)	6.5% CAGR
Market Share of Melamine-formaldehyde Resins (2034F)	48.9%
North America Market Share (2034F)	24.5%
South Korea Market Growth Rate (2024 to 2034)	8.5% CAGR
Key Companies Profiled	Momentive Robnor ResinLab Ltd. Von Roll Axalta Coating Systems ELANTAS GmbH 3M Henkel AG & Co. KGaA KYOCERA CORPORATION Huntsman International LLC

Why is There Increase in Demand for Impregnating Resins Expected Going Forward?

“Increasing Production of Automotive and Requirements for Effective Insulation Procedures”

Implementation of stringent laws for limiting GHG (greenhouse gas) emissions and rising decarbonization are projected to encourage the use of electric vehicles, subsequently contributing to increased consumption of impregnating resins. More governments, around the world, are taking initiatives to increase the purchase and sale of electric vehicles, such as offering incentives, establishing charging infrastructure, etc. Higher specific physical and mechanical properties of impregnating resins are leading to their increasing use as a substitute to counterparts, used in the insulation of automotive and electric parts.

Flame-retardant polyester resins are becoming more popular in the automotive industry owing to their faster combining times, reduced power consumption per cycle, and productivity improvement.

How is Impregnating Resin Market Growth being Restrained Slightly?

“Low Effectiveness of Solvent-based Impregnating Resins and Volatility in Raw Material Prices”

An expansion of the automotive & electric industries across potentially high growth countries is forecasted to create attractive prospects for impregnating resins. However, the quality of impregnating resins is somewhere harmed due to constant fluctuations in the prices of raw materials. This price fluctuation because of raw material shortage is expected to generate an imbalance in demand and supply. Therefore, some manufacturers are using low-quality raw materials, which is expected to lead to quality degradation of end products.

Which Impregnating Resin Market Trends are Startups Capitalizing On?

“Investments by Startups in Developing More Effective Impregnating Resins”

Some recent advancements are taking place in impregnating resins, which are associated with thermal form and a class of products for offering highly effective services. Increasing production of these more efficient impregnating resins is set to generate remunerative opportunities for startups.

Country-wise Insights

Fact.MR, a market research and competitive intelligence provider, in its recently updated study, opined that East Asia is evaluated to hold 27.1% share of the global market by 2034. Increasing demand for consumer electronics and domestic appliances in the region is estimated to contribute to the expansion of the electric & electronics industry, which is one of the prominent consumers of impregnating resins.

Why are Sales of Impregnating Resins Gaining Traction in the United States?

“Increasing Use of Electric Motors and Generators in Automotive Industry”

Attribute	United States
Market Value (2024E)	US$ 218.9 Million
Growth Rate (2024 to 2034)	7.1% CAGR
Projected Value (2034F)	US$ 433.4 Million

The United States is forecasted to account for 55.6% share of the market in North America by the end of 2034. Increased demand for impregnating resins in the country is owing to the growing use of electric motors and generators in the automotive industry. Restructuring and decarbonization in the energy sector are projected to positively impact market growth in the United States. Moreover, stringent regulations aiming to minimize pollution levels, decreasing demand for expensive fossil fuels, and rising utilization of resin-impregnating carbon, paper, and wood are set to generate remunerative opportunities for market players.

What Potential Does China Hold for Suppliers of Impregnating Resins?

“Presence of Leading Electric Vehicle Manufacturers”

Attribute	China
Market Value (2024E)	US$ 254.6 Million
Growth Rate (2024 to 2034)	6.9% CAGR
Projected Value (2034F)	US$ 494.1 Million

China is approximated to hold 57.3% share of the East Asian market revenue by 2034. The presence of some of the leading manufacturers of electric vehicles in the country is anticipated to contribute to the rising deployment of PPS (polyphenylene sulfide) resins in motors. Supportive government policies in China in the form of incentives are expected to create prospects for manufacturers of electric vehicles. Further, as one of the prominent producers of electronics and electric products China is anticipated to create prospects for market players as impregnating resins are used as one of the significant materials in these sectors.

Category-wise Insights

A recently updated research report by Fact.MR, asserts that electric components are estimated to hold a significant share of the global market. Impregnating resins are used to offer weather resistance, mechanical stability, and electrical insulation. Reduced vibration and improved insulation through impregnating resins minimize the incidences of short circuits. Rising demand for electrical components, including generators, electric motors, etc., is projected to increase demand for motors, battery systems, and other related parts, subsequently increased sales of impregnating resins are encountered for increased productivity and longer life of machinery.

What is Expected from Melamine-formaldehyde Resins Going Forward?

“Increasing Consumption of Melamine-formaldehyde Resins”

Attribute	Melamine-formaldehyde Resins
Segment Value (2024E)	US$ 827.2 Million
Growth Rate (2024 to 2034)	6.5% CAGR
Projected Value (2034F)	US$ 1.55 Billion

Melamine-formaldehyde resins are anticipated to capture 48.9% share of global market revenue by 2034. These resins are employed for multiple applications, including laminated tabletops and countertops, automotive surface coatings, and dishwasher-safe tableware. The growing use of these resins is attributed to their relative ease in manufacturing procedures and toughness.

Which Form of Impregnating Resin is Most Widely Consumed?

“Superior Technical Properties of Solvent-based Impregnating Resins”

Attribute	Solvent-based
Segment Value (2024E)	US$ 335.6 Million
Growth Rate (2024 to 2034)	7.4% CAGR
Projected Value (2034F)	US$ 684.1 Million

Solvent-based impregnating resins are calculated to account for a share of 21.5% of global market revenue by 2034-end. These resins are highly reactive and offer greater performance characteristics, including high resin film build, outstanding stability, room temperature impregnation, chemical reactivity, excellent technical properties, and adaptability with multiple processes and machines. Increasing demand for impregnating resins in various sectors, including electronics, automotive, etc., is projected to widen opportunities for market players.

Competitive Landscape

Leading market players are concentrating on the adoption of advanced manufacturing technologies for the development of more effective impregnating resins. In addition, they are constantly focusing on improving their overall supply chain systems, ensuring product quality, etc., to generate leads and maintain existing customers.

Key players in the impregnating resin market are Momentive, Robnor ResinLab Ltd., Von Roll, Axalta Coating Systems, ELANTAS GmbH, 3M, Henkel AG & Co. KGaA, KYOCERA CORPORATION and Huntsman International LLC.

Segmentation of Impregnating Resin Market Research

• By Resin Type :

  • Phenol-formaldehyde Resins
  • Urea-formaldehyde Resins
  • Melamine-formaldehyde Resins

• By Form :

  • Solventless
  • Solvent-based
  • Others

• By Thermal Class :

  • Less Than 130 Degree Celsius
  • 130 Degree Celsius to 180 Degree Celsius
  • More Than 180 Degree Celsius

• By End Use :

  • Electric Components
  • Automotive Components

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA