Electrical Insulation Materials Market by Type (Thermoplastics, Epoxy Resins, Ceramics), Application (Power Systems, Electronic Systems, Cables & Transmission Lines, Domestic Portable Appliances), and Region - Global Forecast to 2027

Electrical Insulation Materials Market by Type (Thermoplastics, Epoxy Resins, Ceramics), Application (Power Systems, Electronic Systems, Cables & Transmission Lines, Domestic Portable Appliances), and Region - Global Forecast to 2027

The global electrical insulation materials market size is projected to grow from USD 10.6 billion in 2022 to USD 14.3 billion by 2027, at a CAGR of 6.2% between 2022 and 2027. Rising demand from emerging markets and growth of renewable energy are expected to offer significant growth opportunities to manufacturers of electrical insulation materials.

“The power systems segment accounted for the largest share in the electrical insulation materials market in terms of value.”

Electrical insulation materials play a vital role in the power systems. Transformers are among the most important part of power systems utilizing electrical insulation materials. Electrical insulations are needed to control operating temperatures, material compatibility issues, and general insulation requirements. Oils are a major electrical insulating material used in transformers.

“Thermoplastic is the fastest growing electrical insulation material type.”

Thermoplastics are the widely used in electrical insulation materials, accounting for 34.2% of the overall market, in terms of value, in 2021. The market in the thermoplastics segment is projected to register a CAGR of 6.3% between 2022 and 2027. The demand for thermoplastics is increasing because they provide superior heat resistance and compatibility for greater strength in electrical appliances.

“North America is estimated to be the second-largest market for electrical insulation materials”

North America is the second-largest market for electrical insulation materials. US, Canada, and the Mexico are the major countries in the North American electrical insulation materials. The region has a strong industrial base in developed economies, such as the UK, France, Italy, Spain, and Germany. Some of the major players operating in the electrical insulation materials market are based in this region, such as DuPont, ITW Formex 3 M, and Haysite Reinforced plastics.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the electrical insulation materials market, and information was gathered from secondary research to determine and verify the market size of several segments.

By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%

By Designation: C Level Executives– 20%, Directors – 10%, and Others – 70%

By Region: APAC – 50%, Europe – 20%, North America – 10%, the Middle East & Africa –10%, and South America- 10%

The key players in this market are DuPont (US), Elantas (Germany), Krempel GMBH (Germany), Nitto (Japan), Von roll(Switzerland), ITW Formex (US), 3M (US), Haysite Reinforced Plastics (US), Vitar (China), Tesa SE (Germany), Tejin Dupont Films (Japan), NGK Insulator (Japan).

Research Coverage:

The report offers insights into the electrical insulation materials market in key regions. It aims at estimating the size of the electrical insulation materials market during the forecast period and projects future growth of the market across various segments based on type, application, and region. The report also includes an in-depth competitive analysis of the key players in the electrical insulation materials market, along with company profiles, MNM view, recent developments, and key market strategies.

Key Benefits of Buying the Report

From an insight perspective, this research report focuses on various levels of analysis — industry analysis (industry trends), market share ranking of top players, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the electrical insulation materials market; high growth regions; and market drivers, restraints, opportunities, and challenges.