Electrical Insulating Varnish Market Segmentation:
Application Method Segment Analysis
Vacuum pressure impregnation segment is expected to hold electrical insulating varnish market share of more than 47.8% by 2035. Vacuum Pressure Impregnation (VPI) is a procedure that uses a combination of pressure and vacuum to impregnate porous materials with resin or varnish. The employment of this procedure is frequently observed in industries that adopt high-voltage motors and generators such as power generation to stuff gaps in materials and develop void-free insulation in different devices. Hence, with the growing demand for power generation, the segment is estimated to observe growth. For instance, in the world, about 28,000 terawatt-hours of electricity is generated in 2022 as compared to electricity generated in the year 1990 which was close to 12,000 terawatt-hours.
Material Segment Analysis
In electrical insulating varnish market, epoxy resins segment is poised to capture revenue share of over 28.6% by 2035. This is because epoxy resins are known for their resistance and toughness to chemical and environmental degradation. Furthermore, even though the initial cost of epoxy powder coating is estimated to be more in contrast to the conventional insulation techniques including tape and varnish, it offers considerable cost savings. Moreover, epoxy resins offer a clean and smooth look, hence making it one of the most professional and attractive solutions. Consequently, with the rise in this segment, the electrical insulating varnish market is also projected to experience growth.
Our in-depth analysis of the global electrical insulating varnish market includes the following segments:
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