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Electrical Insulation Coatings Market Survey, Trends, Overview and 2024 Forecast

The demand for electricity is slated to grow at an estimated annual rate of over 2.5%. The electricity demand is anticipated to witness robust growth from non-OECD countries owing to economic and population growth. Other factors such as easy availability of raw materials, upcoming power generation projects particularly in Asia Pacific are anticipated to foster the market growth.

The Global Electrical Insulation Coating Market is expected to reach USD 3.0 billion in 2024, according to a new report by Grand View Research, Inc.


Raw material prices play a vital role in defining the overall costs of the final product. Currency fluctuations are expected to result in unstable raw material prices. The high cost of coating formulations is another factor which is anticipated to hinder the market growth. Regulations related to VOC (volatile organic compound) emission are expected to affect the demand for liquid based insulation coatings in the near future.

Liquid coatings emerged as the leading product segment and accounted for over 60% of global demand in 2015. However, gaining popularity of powder coatings for electrical insulation on account of stringent regulations in place is expected to increase its market share over the forecast period.

Trends in powder coating industry have oriented towards development of binders resulting in improved gloss retention and high UV resistance.

To Know More About Electrical Insulation Coatings Market Please Visit Us @ https://www.grandviewresearch.com/industry-analysis/electrical-insulation-coatings-market

Epoxies are known to have excellent dielectric properties, dimensional stability, good shock and vibration resistance. The raw material segment is expected to grow at an estimated CAGR of 5.0% from 2016 to 2024.

Top Players of Electrical Insulation Coatings Market:

Some key companies operating in the market include Axalta Coating Systems, Elantas GmbH, 3M Company, PPG Industries, AkzoNobel N.V., and Evonik Industries.

Market Segmentation of Electrical Insulation Coatings Market:

The Global Electrical Insulation Coating Market segmented on the basis of Product and Raw Material.

By Product:

    Liquid
    Powder

By Raw Material:

    Epoxy
    PTFE(Polytetrafluoroethylene)
    Ceramic

Inquire about Electrical Insulation Coatings Market with Our Experts @ https://www.grandviewresearch.com/inquiry/3260
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