Global Electrical Insulation Coatings Market to Reach $3.4 Billion by 2030
The global market for Electrical Insulation Coatings estimated at US$2.6 Billion in the year 2023, is expected to reach US$3.4 Billion by 2030, growing at a CAGR of 4.1% over the analysis period 2023-2030. Epoxy-based Electrical Insulation Coatings, one of the segments analyzed in the report, is expected to record a 4.3% CAGR and reach US$1.8 Billion by the end of the analysis period. Growth in the PTFE-based Electrical Insulation Coatings segment is estimated at 4.5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $692.9 Million, While China is Forecast to Grow at 6.2% CAGR
The Electrical Insulation Coatings market in the U.S. is estimated at US$692.9 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$715.4 Million by the year 2030 trailing a CAGR of 6.2% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 3.2% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$449.6 Million by the year 2030.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook