Persistence Market Research
Electrical insulation coatings are most vital in the various electrical equipment such as transformers, electric motors as well as machineries and automotive parts etc. Electrical insulation coatings are primarily designed to impart the high dielectric strength for various electrical applications. Electrical insulation coatings are also termed as dielectric coatings, these type of coatings are not only utilized for the electrical and electronics industry but are also utilized for vehicle and machineries. Electrical insulation possess various electrical and physical properties such as good moisture protection, corrosion resistance, abrasion resistance, fire retardation and also prevents the apparatus from electrical leakages and short circuits etc.
Apart from the electrical equipment’s, electrical insulation coatings are also utilized for the crimper wheels, engine components, corona rolls, cable channels etc. This type of coatings are utilized in the products which are made up of ceramics, polymers and are used for insulation of lamination stacks in sensors, transformers etc.
Global Electrical Insulation Coatings Market: Segmentation
Globally, the electrical insulation coatings market can be segmented on the basis of product type, material type, and end-use industry
Based on the product type, the global electrical insulation coatings market can be segmented into
Based on the material type, the global electrical insulation coatings market can be segmented into
Based on the end-use industry, the global electrical insulation coatings market can be segmented into
Global Electrical Insulation Coatings Market: Dynamics
Primary factor boosting the demand for electrical insulation coatings is directly related with rapid population as well as economic growth. This has led to the increasing demand for power generation and electricity, resulting into the surging infrastructural investments for power transformers in the developed economies.
Installed base of for the large sized power transformers in developed countries such as U.S. is high, however this installed base is aging and hence in turn generating a necessity to replace the infrastructure and accommodate new generation connections to maintain the uninterrupted electric supply. Energy efficiency plays a significant role in the selection of particular electrical equipment. In sync with the global trend of sustainability and energy conservation, manufacturers across the globe are involved in the development of energy efficient electrical products. Further, energy efficiency regulations from organizations such as U.S. Department of Energy and European Commission etc. are expected to push the development of efficient electrical equipment; consequently driving the demand growth for electrical insulation coatings in the near future.
There are various regulations in the electrical insulation coatings market which includes EU directives such as RoHs (Restriction of Hazardous Substance Directive), Waste Electrical and Electronic Equipment (WEEE), the regulation on Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), and Conflict Minerals Compliance, restrict the utilization of substance which in one way or other, are hazardous to humans and/or the environment.
Global Electrical Insulation Coatings Market: Region-wise Outlook
Considering regions, the electrical insulation coatings market is dominated by APEJ region, owing to the surging infrastructural investments across the developing countries such as China and India. North America and Europe are expected to show steady growth in the market over the near future. MEA and Latin America are expected to show slow growth in the market over the near future
Global Electrical Insulation Coatings Market: Market Participants
Some of the examples of the market participants identified across the value chain of the global Electrical Insulation Coatings market include 3M, E. I. du Pont de Nemours and Company, PPG Industries, Inc., Akzo Nobel N.V., ELANTAS GmbH, Aremco, Chemetall Group, Axalta Coating Systems, The Fisher Barton Group and others.
Strict governmental regulations imposed in the market especially in North America and Europe, limit the amount of VOC content in coating products. This has forced the coating manufacturers to go green and adopt sustainability as their agenda, also they are infusing high investments in research and development to develop and innovative and new products which can be offered at low cost, while adhering the regulatory guidelines.
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