The electrical insulation materials market is projected to grow from USD 10.70 billion in 2023 to USD 20.28 billion by 2033.
Increasing Demand from Electronics and Electrical Industries
Electric motor insulation materials provide resistance to electric current, with techniques including wire insulation, slot and phase insulation, winding impregnation, sleeve insulation, and winding leads insulation.
Globally, insulation materials used in electric motors are categorized based on their thermal properties. Class A insulation materials include cotton, silk, and paper. Class B insulation materials consist of mica, glass fiber, and asbestos, while Class C insulation materials encompass mica, porcelain, glass, and quartz.
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Electronics are crucial components of modern society, aiding in smooth operation and survival. Electrical insulation materials are essential for manufacturing shockproof electronic gadgets, including EV automobiles, televisions, washing machines, mobile phones, and other machinery. As insulation is necessary for cables, batteries, and other components, the expanding EV sector directly impacts market growth.
There is increasing demand for electrical insulating materials in construction, automotive, medical, communications, electronics, and manufacturing industries. These materials are vital for providing electric equipment with shock resistance and for producing products that meet benchmark standards. Consequently, the global electrical insulating materials market is expected to expand throughout the forecast period.
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.
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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 Include:
- 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.
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Electrical Insulation Materials Market Key Segment
By Material Type:
- Thermoplastics
- Thermosets
- 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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