Global Electrical Insulation Materials Market Analysis & Forecast
The global electrical insulation materials market was pegged at 4,700 KT in 2016. In terms of volume, the global electrical insulation materials market is projected to reach 8,797 KT by the end of 2027, expanding at a CAGR of 5.8% over the forecast period (2017–2027). In terms of value, the global electrical insulation materials market is anticipated to reach US$ 19.9 Bn by 2027 end, exhibiting a CAGR of 6.7% over the forecast period. APEJ is expected to exhibit promising growth in the global electrical insulation materials market, registering a CAGR of 7.6% over the forecast period. Driven by sales growth of electrical insulation materials across various applications, the APEJ market is expected to witness a sustainable growth rate over the coming years.
Electrical insulation materials applications have been witnessing considerable demand in Asian countries such as China, India and ASEAN. This demand is fuelled by rising capital investments in setting up large scale infrastructure projects and subsequent development of electricity generation, transmission and distribution in the region. Besides, large scale investments in the industrial sector are also expected to drive demand for electrical insulation materials through 2027.
Electrical insulation materials have been finding significant applications in wires & cables, motors & generators, transformers and other applications, with rising demand from the power sector. APEJ and North America are important regions in terms of the power sector at a global level and are anticipated to grow further in the near future with regard to the industry; which in turn is expected to create significant opportunities for growth of the regional electrical insulation materials market over the forecast period.
However, factors such as high costs of electrical insulation materials have been restraining market revenue growth, and are anticipated to pose a significant challenge to the global electrical insulation materials market in the near future.
Performance analysis of market segments
On the basis of material, the electrical insulation materials market is segmented into thermoplastics, epoxy resins, ceramics, fibre glass composites and others. Thermoplastics segment is projected to account for a major share of the global electrical insulation materials market through 2027. Growth of the thermoplastics segment is estimated to remain high over the forecast period, and is expected to account for approximately 48.3% of the total market share in terms of volume by 2027. Expanding at a healthy growth rate, the thermoplastics segment is expected to create significant growth opportunities over the coming years.
Among applications, the wires & cables segment is anticipated to consistently represent a dominant share over the forecast period. By value, this segment is expected to reach a market value of about US$ 4.4 Bn by the end of 2027. The demand for generators & motors is expected to remain moderate to high across different regions. On the other hand, the transformers segment is projected to exhibit a significant growth rate through the forecast period.
Market analysis of key segments by material type
Thermoplastics: Expanding at a CAGR of 7.0% over the forecast period, the segment is anticipated to create an incremental $ opportunity of US$ 4.1 Bn by 2027 end
Epoxy Resins: Epoxy resins segment is expected to reach a market value of US$ 3.8 Bn by 2027 end
Ceramics: This segment is expected to grow at a CAGR of 5.7% between the years 2017 and 2027
Fibre Glass Composites: Expanding at a CAGR of 6.6% between 2017 and 2027, this segment anticipated to reach a market value of US$ 4.4 Bn by 2027 end
Others: This segment is expected to grow at a CAGR of 6.1% between the years 2017 and 2027
This Future Market Insights report examines the global electrical insulation materials market for the forecast period 2017–2027. The prime purpose of the report is to find opportunities and trends in the market and provide insights pertaining to segments of the global electrical insulation materials market. To understand the opportunities and trends in this market, the report is categorically divided into three sections on the basis of material, application and region. The report analyses the global electrical insulation materials market in terms of value (US$) and volume (KT).
The report starts with a market overview and provides market definition and analysis of the key drivers, restraints, and trends impacting the global electrical insulation materials market. The section that follows includes analysis of the global electrical insulation materials market by material, application and region. The three sections evaluate the global electrical insulation materials market on the basis of various factors covering the present scenario and future prospects. The report also provides data of local and international companies, and key developments within the electrical insulation materials industry.
The global electrical insulation materials market is segmented as follows:
On the basis of material, the market is segmented into the following:
Fibre Glass Composites
On the basis of application, the market is segmented into the following:
Wires & Cables
Motors & Generators
Regions covered in the report are as follows:
Asia Pacific excluding Japan (APEJ)
Middle East & Africa (MEA)
Market volume is inferred through in-depth secondary research and validated from industry experts through primary interviews. Each interview is thoroughly analysed and average market volume is deduced and reconfirmed prior to incorporating in the report. The price of different products are deduced on the basis of material type, where the average price of each material is inferred across all the seven assessed regions. The market value of the global electrical insulation materials market is thus calculated from the data derived from the average selling price and market volume. For the 10 year forecast of the global electrical insulation materials market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast include the size of the current market, inputs from the demand side and the supply side and other dynamics shaping the scenario of the global electrical insulation materials market. In the compilation of this report, the forecast is conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting the client with crystal clear insights into future opportunities likely to emerge in the global electrical insulation materials market.