Electrical Insulating Varnish Market Outlook:
Electrical Insulating Varnish Market size was valued at USD 2.45 billion in 2025 and is set to exceed USD 3.63 billion by 2035, expanding at over 4% CAGR during the forecast period i.e., between 2026-2035. In the year 2026, the industry size of electrical insulating varnish is evaluated at USD 2.54 billion.
Moreover, the market is also set to gather a value of 1,085.14 thousand tons by 2037, up from a value of 691.40 thousand tons in the year 2024. This growth of the market is set to be encouraged by the growing demand for electric vehicles. For instance, globally sales of over 9 million electric cars took place and by 2023, these sales were projected to rise by about 34%, hence totaling over 13 million. Hence, the demand for Electrical Insulating Varnish is projected to rise for heat and Automatic Transmission Fluid (ATF) resistance.
Moreover, governments across different regions are launching various schemes and stringent rules to boost the sale of electric vehicles for reducing greenhouse gas emissions. As a result, owing to this factor the demand for electric vehicles is projected to observe a surge further encouraging the electrical insulating varnish market expansion for Electrical Insulating Varnish.
