Increasing application of electrical insulation materials in the electrical and electronics sector for various machines, devices, and equipment is expected to propel sales. The electrical insulation materials market is expected to increase from US$ 10.70 billion in 2023 to US$ 20.28 billion by 2033.
Increasing Demand from the Electronics and Electrical Industries
Electric motor insulation materials provide resistance to electric current. Electric motor insulation techniques include wire insulation, slot, and phase insulation, winding impregnation, sleeve insulation, and winding leads insulation.
On a global scale, insulation materials used in electric motors are categorized based on their thermal qualities. Cotton, silk, and paper are examples of class A insulation material. Whereas, mica, glass fiber, and asbestos are examples of class B insulation materials. Class C insulation materials include mica, porcelain, glass, and quartz.
Electronics are important components of modern civilization that aid in smooth operation or survival. Electrical insulation materials are necessary to manufacture shockproof electronic gadgets. This includes EV automobiles, televisions, washing machines, mobile phones, and other machinery. As insulation is required in cables, batteries, and other items, the growing EV sectors have a direct impact on market growth.
There is an increasing demand for electrical insulating materials in the construction, vehicle, medical, communications, electronics, and manufacturing industries. To provide electric equipment shock resistance and to make products that meet benchmark criteria. As a result, the worldwide electrical insulating materials market is predicted to expand throughout the forecast period.
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Trends and Technological Advancement
Ongoing research and development initiatives throughout the world are propelling the industry toward viable development. To ensure the optimal and sensible use of resources. These circumstances may increase the demand for renewable energy, boosting the demand for insulating materials such as HVDC cable and others.
Key Points from the Market
- The market is expected to surpass US$ 20.28 billion by 2033.
- The market is being boosted by rising demand for lightweight and energy-efficient electrical insulating materials.
- The electrical insulation materials market is expected to register a CAGR of 6.6% during the forecast period 2023 to 2033.
- North America dominated the electrical insulation materials market.
Key Development in the Electrical Insulation Materials Market
- May 2022 – Krempel GmbH stated that Nomex 910, an insulating material will be manufactured, and distributed by Krempel. It was previously created by DuPont. The product is a one-of-a-kind insulating material made of high-quality electrical grade cellulose pulp and web-like binders. It can be utilized as interlayer insulation in distribution and small power transformers with liquid-immersed transformers.
- April 2022 – Von Roll announced the growth of its potting resin business by expanding its production plant in Italy. This may benefit the company in the automotive and electronics industries. Potting resins are critical in the development of high-performance batteries for electric vehicles.
- EXEGER Sweden AB aims to collaborate with the Japanese ceramic technology business NGK INSULATORS, LTD in 2021. Through this collaboration, both companies may increase their respective manufacturing capacity and competencies. It also allows both companies to bring goods to market in a variety of disciplines. Including the IoT and electronic devices such as e-shelf labels, sensors, and remote controls.
Key Companies Profiled
- Nitto Denko Corporation
- 3M Company
- E. I. DuPont de Nemours and Company
- The Dow Chemical Company
- Showa Denko Materials Co., Ltd.
- KREMPEL GmbH
- ITW Formex
- Elantas GmbH
- Nikkan Industries Co., Ltd
- Dr. Dietrich Müller GmbH
- Fralock Innovative Materials Manufacturing & Automation
- Haysite Reinforced Plastics
- Miki Tokushu Paper MFG. CO., LTD.
- Furukawa Electric Power Systems Co., Ltd.
- Vitar Insulation Manufacturers Ltd.
- Weidmann Holding AG
- Sichuan Dongfang Insulating Material Co., Ltd.
- Dalian Insulator Group Co., Ltd.
- Suzhou Taihu Electric New Materials Co., Ltd.
- Coveme SpA
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Electrical Insulation Materials Market Key Segment
By Material Type:
- Thermoplastics
- Polyethylene
- PVC
- Others
- Thermosets
- Epoxy Resin
- Silicone Rubber
- Polyimide
- Others
- Ceramics
- Fiber Glass
- Mica
- Cellulose
- Cotton
- Others
By Application:
- Power Transformer
- Distribution Transformers
- Electrical Motors & Generators
- Wires & Cables
- Switchgear
- Batteries
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- The Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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