Increasing consumer awareness regarding energy conservation and increasing government support and high investments for the environment-friendly insulation materials are factors expected to propel the target market.
The global Electrical Insulation Coating market is forecast to reach USD 3.64 Billion by 2027, according to a new report by Reports and Data. Growing electricity usage, mainly in the emerging economies has led to the expansion of power generation projects, which will trigger product demand and thus will result in driving the overall electrical insulation coatings market size by 2027. Increasing demand from energy conversion and electronics products is another factor influencing the market growth. A significant share of the application is expected to be emerging from developed nations. For instance, the installed capacity of large-sized transformers in the U.S. is quite high. However, these transformers are aging and hence generate the need to replace the existing infrastructure with new connections, which will drive product demand, thereby propelling electrical insulation coatings market size by 2027.
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The COVID-19 impact:
As the COVID-19 crisis grows, manufacturers are quickly changing their practice and purchasing priorities to meet the required demand of a pandemic. The global Electrical Insulation Materials market will upgrade its production by bringing change in the warehouse system and electric application with time. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources.
Key participants include AkzoNobel (Netherlands), PPG Industries (US), The Sherwin-Williams Company (US), Kansai Paint CO., LTD. (Japan), Jotun Group (Norway), Nippon Paint (Japan), and Mascoat (US) among others.
Further key findings from the report suggest
- The consumer good a sub segment of the application has shown the highest growth in CARG of about 6.0% and can be seen in the Asian pacific region the most in the upcoming years.
- The value of use of 100% Silicone will increase gradually and will be covering the large share in the segment with 5.9% of CARG. It will be used in multiple machinery and consumer goods, providing optimum and efficient usage.
- The technology segment which is mostly used as an application is waterborne as it has most advantage and can be used in water based system in a very efficient manner.
For the purpose of this report, Reports and Data have segmented into the global Electrical Insulation Coating market on the basis of product, Raw Material type, distribution channel, and region:
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Saudi Arabia
- Rest of MEA
- Latin America
- Rest of LATAM
Product Outlook (Revenue, USD Billion; 2017-2027)
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Raw Material Type Outlook (Revenue, USD Billion; 2017-2027)
- Polytetrafluoroethylene (PTFE)
End User Industry Outlook (Revenue, USD Billion; 2017-2027)
- Electrical & Electronics
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