Impregnating Resins Market: By Type (Phenol-Formaldehyde, Urea Formaldehyde, and Melamine Formaldehyde, Others), By Form (Solventless, Solvent Based), By Application (Motors & Generators, Electronics, Home Appliances, Transformers, Automotive Components, Others) and Geography

Impregnating Resins Market was valued at USD 2,687.2 million in 2023 and is poised to grow at a CAGR of 4.5% over 2024-2030. Impregnating resins are liquid resins that are diluted with reactive thinners to cure entirely on the item to which they are applied further providing copper windings and coils with enhanced heat dissipation, great mechanical stability, and electrical insulation. The increased demand for electrical appliances with flexible insulation drives the global impregnating resins market. They are highly employed in electric motors, transformers, and other electrical devices where insulation and structural integrity are required.

Furthermore, owing to the better performance they offer at a reasonable price, impregnating resins have also become more popular as EV production and its use have risen. For the creation of impregnating resins, several car and electronics industries use renewable raw resources. But recently, focused on creating low-emission impregnating resins that would allow manufacturers to produce more efficient and smaller motors by allowing standard design motors to run at lower temperatures, which is anticipated to propel market revenue growth. However, the depreciating quality of raw materials and low efficiency of solvent-based impregnating resins hinder the growth of the market. However, increased industrialization, fast urbanization, changes in infrastructure for power generation, distribution, and transmission, as well as the switch from internal combustion engines to electric motors in automobiles are anticipated to fuel the demand for impregnating resin market over the forecasted years.

Impregnating Resins Market Key Developments:

• In September 2019, Huntsman Advanced Materials, a division of Huntsman Corporation, launched portfolio of ARALDITE® epoxy resin thermal management solutions for electric vehicles, building in North America.
• In July 2018, BASF officially announced the increase in prices for all its Kauramin® and Kaurit® impregnating resins by €30 per metric ton in Europe. Kauramin and Kaurit impregnating resins are condensation products of melamine, urea and formaldehyde.