“The Electrical Insulation Materials Market is projected to register a CAGR of 5.82% during the forecast period”
The global market for electrical insulation materials is projected to reach USD 9.58 billion by 2021, registering a CAGR of 5.82% from 2016. Increasing augmentation and modernization of transmission & distribution network have led to the development of new insulating materials. The high global demand for electricity drives the electrical insulation materials market.
“Thermoplastics to register the highest growth between 2016 and 2021”
The demand for thermoplastics is rising due to the increasing energy demand from growing economies such as India and China, which is likely to lead to higher investments in (transmission and distribution) T&D infrastructure. The growth is also due to increasing use of electrical appliances in the region along with low cost, easy availability, and optimum performance of thermoplastic as an insulation material.
“Asia-Pacific: The largest market for electrical insulation materials market”
Asia-Pacific was the largest electrical insulation materials market globally, in terms of value, in 2015. The overall economic growth in the Asia-Pacific region leads to increase in urbanization and rapid industrialization. The power industry has witnessed considerable growth and technological innovations. Considering the Asia-Pacific region, the consumption level of electrical insulation materials differs with region and country. China is the leader, in terms of consumption, followed by India and South Korea. Asia-Pacific is one of the fastest-developing markets among all the other regions mainly due to the population growth and gradual rise in industrial, commercial, and residential infrastructure. Factors, such as upgradation & modernization of transmission network, increased global demand for electricity, and growth of renewable energy have led to increase in the demand of electrical insulating materials.
This study has been validated through primaries conducted with various industry experts worldwide. These primary sources have been divided into three categories, namely, by company type, by designation, and by region.
- By Company Type- Tier 1- 40%, Tier 2- 40%, and Tier 20%
- By Designation- C Level- 10%, D Level- 50%, and Others- 40%
- By Region- North America- 30%, Asia-Pacific- 40%, Europe- 20%, and SA & MEA- 10%
Scope of the report:
This research report categorizes the global electrical insulation materials market on the basis of type, application, and region.
On the basis of type:
• Epoxy resin
On the basis of application:
• Power systems
• Electrical systems
• Cables & transmission lines
• Domestic portable appliances
On the basis of region:
• North America
• South America and MEA
*The market is further analyzed for the key countries in each of these regions