Electrical Insulation Materials Industry Forecast: Market to Reach USD 20.28 Billion by 2033, Growing at 6.6% CAGR

electrical insulation materials

The electrical insulation materials industry is expected to increase from US$ 10.70 billion in 2023 to US$ 20.28 billion by 2033.

Increasing Demand from the Electronics and Electrical Industries

Electric motor insulation materials provide resistance to electric current. Electric motor insulation techniques include wire insulation, slot, and phase insulation, winding impregnation, sleeve insulation, and winding leads insulation.

On a global scale, insulation materials used in electric motors are categorized based on their thermal qualities. Cotton, silk, and paper are examples of class A insulation materials. Whereas, mica, glass fiber, and asbestos are examples of class B insulation materials. Class C insulation materials include mica, porcelain, glass, and quartz.

Electronics are important components of modern civilization that aid in smooth operation or survival. Electrical insulation materials are necessary to manufacture shockproof electronic gadgets. This includes EV automobiles, televisions, washing machines, mobile phones, and other machinery. As insulation is required in cables, batteries, and other items, the growing EV sectors have a direct impact on market growth.

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There is an increasing demand for electrical insulating materials in the construction, vehicle, medical, communications, electronics, and manufacturing industries. To provide electric equipment shock resistance and to make products that meet benchmark criteria. As a result, the worldwide electrical insulating materials market is predicted to expand throughout the forecast period.

Trends and Technological Advancement

Ongoing research and development initiatives throughout the world are propelling the industry toward viable development. To ensure the optimal and sensible use of resources. These circumstances may increase the demand for renewable energy, boosting the demand for insulating materials such as HVDC cable and others.

Key Points from the Market

  • The market is expected to surpass US$ 20.28 billion by 2033.
  • The market is being boosted by rising demand for lightweight and energy-efficient electrical insulating materials.
  • The electrical insulation materials market is expected to register a CAGR of 6.6% during the forecast period 2023 to 2033.
  • North America dominated the electrical insulation materials market.

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Key Development in the Electrical Insulation Materials Market

  • May 2022 – Krempel GmbH stated that Nomex 910, an insulating material will be manufactured, and distributed by Krempel. It was previously created by DuPont. The product is a one-of-a-kind insulating material made of high-quality electrical grade cellulose pulp and web-like binders. It can be utilized as interlayer insulation in distribution and small power transformers with liquid-immersed transformers.
  • April 2022 – Von Roll announced the growth of its potting resin business by expanding its production plant in Italy. This may benefit the company in the automotive and electronics industries. Potting resins are critical in the development of high-performance batteries for electric vehicles.
  • EXEGER Sweden AB aims to collaborate with the Japanese ceramic technology business NGK INSULATORS, LTD in 2021. Through this collaboration, both companies may increase their respective manufacturing capacity and competencies. It also allows both companies to bring goods to market in a variety of disciplines. Including the IoT and electronic devices such as e-shelf labels, sensors, and remote controls.

 Key Companies Include:

  • Nitto Denko Corporation
  • 3M Company
  • E. I. DuPont de Nemours and Company
  • The Dow Chemical Company
  • Showa Denko Materials Co., Ltd.
  • ITW Formex
  • Elantas GmbH
  • Nikkan Industries Co., Ltd
  • Dr. Dietrich Müller GmbH
  • Fralock Innovative Materials Manufacturing & Automation
  • Haysite Reinforced Plastics
  • Miki Tokushu Paper MFG. CO., LTD.

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Electrical Insulation Materials Market Key Segment

By Material Type:

  • Thermoplastics
  • Thermosets
  • Ceramics
  • Fiber Glass
  • Mica
  • Cellulose
  • Cotton
  • Others

By Application:

  • Power Transformer
  • Distribution Transformers
  • Electrical Motors & Generators
  • Wires & Cables
  • Switchgear
  • Batteries
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Pacific
  • The Middle East and Africa

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About the Author

Ronak Shah

Associate Vice President at Future Market Insights is deeply committed to uncovering actionable insights for consumer and food and beverage players. She brings a unique blend of analysis, industry trends, and consumer behavior to put data into perspective.

What she makes out of data becomes a delight to read. She has authored many opinions, including for publications like Process Industry Informer and Spinal Surgery News, as she understands the market pulse and consumers' shifting preferences.

She likes to bring experts to a roundtable to weigh the impact of a trend on an industry. Catch up with her discussion on the impact of AI in packaging.

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