Global Electrical Insulation Materials Market is valued approximately USD 8.56 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 5.80% over the forecast period 2019-2026. Electric insulation materials exhibit the property of resisting the flow of charges. The increasing consumption of electricity in countries of Africa, Southeast Asia and Middle East due to the increasing population and enhanced access to electricity is leading to the increase in demand of electricity. According to a report published by New Energy Outlook 2018, global electricity demand is expected to grow from 25,000 terawatt-hours in 2017 to 38,700 terawatt-hours by 2050. The upgradation of obsolete and ageing technology in developed nation will create lucrative growth opportunity for the electrical insulation markets during the forecast period. Further, the growth of renewable energy sources and modernization of transmission and distribution network is expected to fuel the market growth. HVDC transmission proposed methods for long distance electricity transmission, increasing capacity of power generation units and adoption of smart grid technology are few factors that are expected to bring opportunities to the electrical insulation market. However, the volatile prices of the electrical insulation material is anticipated as a restraining factor and hence expected to hinder the growth of global electrical insulation materials market during the forecast period.
The regional analysis of global Electrical Insulation Materials Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia Pacific is the significant leader in the electrical insulation materials market due to the fact that most of the key players and manufacturers are based in North-Asian region. Also, the increase in urbanization, rapid industrialization, population growth increasing industrial, commercial and residential infrastructure are some of the factors responsible for the high CAGR of the market growth over the forecast period.
Major market player included in this report are:
E. I. Du Pont De Nemours and Company
Elantas Electrical Insulation- Altana AG
Haysite Reinforced Plastics.
Vitar Insulation Manufacturers Ltd
Nitto Denko Corporation
Teijin Dupont Films Japan Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material Type:
Cables & Tranmission
Domestic Portable Appliances
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026
Target Audience of the Global Electrical Insulation Materials Market in Market Study: