As per the study, the sales are poised to expand at 6.4% CAGR, surpassing US$ 17.53 Bn in 2031. Rising demand for thermosets such as epoxy resins, used in power generation for safeguarding the machines and equipment is favoring the growth in the market.
Consequently, with increasing application in wires and cables, and batteries, demand for electrical wire and cable insulation materials will increase over the forecast period.
Besides this, consumer preference for cellulose, in the production of insulation boards and sheets for utilization in power and distribution transformers, is creating lucrative growth prospects for electrical insulation materials market players.
Regionally, East Asia is expected to contribute significant share, with China leading the growth in the global electrical insulation materials market. Growth in China is attributable to rising expenditure in innovation and development of new silicon electrical insulation materials for lithium ion batteries.
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"Increasing demand for thermoset electrical insulations, coupled with growth in infrastructural investments, will result in high demand for electrical insulation materials over the forecast period 2021-2031," says an FMI analyst.
Leading players operating in the global electrical insulation materials market include
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Electrical Insulation Materials Markey by Category
By Material Type:
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Wheel of Fortune
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product innovation & Diversification
5. Global Electrical Insulation Materials Demand Analysis 2016-2020 and Forecast, 2021-2031
5.1. Historical Market Volume (Kilo Tons) Analysis, 2016-2020
5.2. Current and Future Market Volume (Kilo Tons) Projections, 2021-2031
5.3. Y-o-Y Growth Trend Analysis
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