The market size of Impregnating Resins is expected to be USD 1.5 billion in 2018 and is projected to reach USD 2.0 billion by 2023, at a CAGR of 6.4% from 2018 to 2023.
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Technological advancements in the automotive industry and increasing demand for electricity are the key factors driving the impregnating resins market, globally. In addition, augmentation and modernization of the transmission & distribution network will boost the market, globally.
The study involved four major activities in estimating the current market size for impregnating resins. The exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, the market breakdown and data triangulation methodologies were used to estimate the market size of segments and subsegments.
In the secondary research process, various secondary sources such as Hoovers and Bloomberg BusinessWeek have been referred to, so as to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, food safety organizations, regulatory bodies, and databases.
The impregnating resins market comprises several stakeholders such as raw material suppliers, distributors of impregnating resins, plastic and resin associations, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market consists of manufacturers of automotive components, home appliances, motors, generators, and transformers, whereas the supply side consists of various resin systems manufacturers. Various primary sources from both, the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the impregnating resins market. These methods were also used extensively to estimate the size of various sub segments in the market. The research methodology used to estimate the market size includes the following:
• The key players in the industry and markets have been identified through extensive secondary research.
• The industry’s supply chain and market size, in terms of value and volume, have been determined through primary and secondary research processes.
• All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
After arriving at the overall market size using the market size estimation processes as explained above—the market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both, the demand and supply sides, in the electrical & electronics and automotive industries.
On the basis of Type, the impregnating resins market has been segmented as follows:
• Others (waterborne and solvent-free resins)
On the basis of Application, the impregnating resins market has been segmented as follows:
• Motors and generators
• Home appliances
• Automotive components
• Others (electric tools and power tools)
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