The Electrical Insulation Materials industry was 9599.15 million USD in 2017 and is projected to reach USD 13031.68 million USD by 2022, at a CAGR of 5.23% between 2017 and 2022. The key players are Weidmann (WICOR Group), Dupont, Krempel, Pucaro (ABB), Elantas Electrical Insulation, 3M, Von Roll, Toray, ISOVOLTA AG, Nitto Denko Corporation, Sichuan EM Technology, Axalta (The Carlyle Group), Suzhou Jufeng, Suzhou Taihu, Zhejiang Rongtai and so on.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.
The Electricity Power application dominated the Electrical Insulation Materials market during the forecast period, closely followed by Electrical and Electronics industry in 2017. New Energy industry application is also expected to witness high growth rate between 2017 and 2022.
Currently, China is the largest Electrical Insulation Materials market, in terms of value, closely followed by Europe. Some of the factors driving the growth of the North American market are high growth of end-use industries, local manufacturing, and increased number of domestic players in various market segments.
Asia-Pacific is expected to be the fastest-growing Electrical Insulation Materials market due to high demand from Electrical and electronics, Communication and auto applications. The presence of major countries such as China, India, and Japan is also a major driver of the Electrical Insulation Materials market in the region.