San Francisco, 9 January 2019: The Report Electrical Insulation Coatings Market Analysis By Product (Liquid, Powder), By Raw Material
(Epoxy, Polytetrafluoroethylene (PTFE), Ceramic) And Segment Forecasts To 2024
The global electrical insulation coating market is expected to reach USD 3.0 billion in 2024, according
to a new report by Grand View Research, Inc. The demand for electricity is
slated to grow at an estimated annual rate of over 2.5%. The electricity demand
is anticipated to witness robust growth from non-OECD countries owing to
economic and population growth. Other factors such as easy availability of raw
materials, upcoming power generation projects particularly in Asia Pacific are
anticipated to foster the market growth.
Raw material prices play a vital role in
defining the overall costs of the final product. Currency fluctuations are
expected to result in unstable raw material prices. The high cost of coating
formulations is another factor which is anticipated to hinder the market
growth. Regulations related to VOC (volatile organic compound) emission are
expected to affect the demand for liquid based insulation coatings in the near
future.
Liquid coatings emerged as the leading
product segment and accounted for over 60% of global demand in 2015. However,
gaining popularity of powder coatings for electrical insulation on account of
stringent regulations in place is expected to increase its market share over
the forecast period.
Access Research Report
of Electrical Insulation Coating Market @ www.grandviewresearch.com/industry-analysis/electrical-insulation-coatings-market
Further key findings from the report suggest:
· The global electrical insulation coating
market demand exceeded 650 kilo tons in 2015 and is expected to exceed 900 kilo
tons by 2024, growing at a CAGR of 3.7% from 2016 to 2024
· Trends in powder coating industry have
oriented towards development of binders resulting in improved gloss retention
and high UV resistance
· Epoxies are known to have excellent
dielectric properties, dimensional stability, good shock and vibration
resistance. The raw material segment is expected to grow at an estimated CAGR
of 5.0% from 2016 to 2024.
· Asia Pacific was the leading consumer with
its share exceeding 50% in 2015. Easy availability of key raw materials coupled
with rapidly growing electrical industry in China and India are likely to drive
the regional growth.
· Electrical insulation coatings industry is
likely to witness technological shift owing to strict VOC regulations. Various
market players have implemented different coating processes depending on the
geometry of the electrical components.
· Some key companies operating in the market
include Axalta Coating Systems, Elantas GmbH, 3M Company, PPG Industries,
AkzoNobel N.V., and Evonik Industries
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/paints-coatings-and-printing-inks
Grand View Research has segmented the
electrical insulation coating market on the basis of product, raw material and
region:
Product Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
Liquid
·
Powder
Raw Material Outlook (Volume, Kilo Tons;
Revenue, USD Million, 2014 - 2024)
·
Epoxy
·
PTFE(Polytetrafluoroethylene)
·
Ceramic
·
Others
Regional Outlook (Volume, Kilo Tons; Revenue,
USD Million, 2014 - 2024)
·
North America
·
Europe
·
Asia Pacific
·
Middle East and Africa
·
Central and South America
Access Press Release of
Electrical Insulation Coating Market@ www.grandviewresearch.com/press-release/global-electrical-insulation-coatings-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
valuable data in this report .
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