Electrical Insulation Paper Market REPORT OVERVIEW
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The global electrical insulation paper market size was USD 1356.6 million in 2022 and is projected to touch USD 2196.42 million by 2031, at a CAGR of 5.5% from 2022 to 2031.
Electric insulation papers are employed as an insulator in various electrical and electronic applications due to its low electrical conductive properties. Materials such as wood, rubber and cotton were often utilized as electrical insulators. However, now cellulose has been used as an insulating material. Cellulose has a dielectric constant that is much higher than one and is both polar and an excellent insulator.
High mechanical strength, smaller size, and enhanced resistance characteristics are all characteristics of electrical insulating papers. They are ideal for insulating electrical machines since they are manufactured using high purity chemicals. These papers are currently being used more frequently as a result of the rising need for efficient insulating goods. They are most often employed in construction of house to protect the house from any electrical faulting that might occur.
COVID-19 Impact: Lockdown Hampered Market Growth
COVID-19 had a life changing impact globally. The global electrical insulation paper market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for electrical insulation paper experienced a drop in demand.
There was a surge in electricity usage across the globe. The need for it increased due to ventilators usage, lights for multiple operations and so on. To keep up with the electricity needs, transformers were installed in multiple areas to ensure no power cut in a hospital or neighborhood. This led to an increase in usage high voltage circuits as they would last long and were ideal for usage of transformers. With the surge of electricity requirements, the global electrical insulation paper market is set for robust growth.
The development of the requirement for electrical circuitry and power, led to a rise in the need for safety against any electrical faults that may occur. At hospitals, often due to surge of power there was a electrical collapse and a blast which led to several fatalities. Overloading of power in one section also led to circuit damage and fire. In order to prevent this, the electrical insulation paper proved essential in protecting everyone from such mishaps.
LATEST TRENDS
"Spontaneous Testing to Broaden Market Growth"
Research Gate published a paper studying the application of electrical insulation paper techniques for HTS power apparatus at cryogenic temperatures. They studied the breakdown and partial discharge characteristics of various electrical insulation paper configurations. The dynamic and static insulation performances with and without taking account of quench in HTS materials were introduced following this experiment.
In another paper published by Research Gate, the study focused on the development of electrical insultation papers from indigenous raw materials. They studied that it is necessary to modify process water quality and paper manufacturing process. As O2 delignified pulp is refined extremely far, it displays good mechanical strength and is preferred for the development of electrical grade insultation paper. The study also concluded that cannabis sativa hemp ribbons were explored to develop various electrical insultation papers.
Electrical Insulation Paper Market SEGMENTATION
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- By Type
Based on type, the market is divided into TufQUIN, NOMEX, Mica, Semiconductor Paper, and Others.
TufQUIN holds a major share of the global market.
- By Application
Based on application, the market is bifurcated into Conductor Insulation, Power Cable Insulation, Barrier Insulation, End-Filling, and Others.
Conductor Insulation as application holds a major share of the global market.
DRIVING FACTORS
"Electric Vehicle in Automotive Industry to Propel Market Sales"
According IEA, sales of electric vehicles doubled in 2021 from 2020 with a record 6.6 million. Starting with just 120,000 vehicles sold in 2012; In the current market more than that are sold each week. Nearly 10% of the global car sales were electric in 2021 and four time the market shares in 2019. Due to the multiple electronic and digital devices that go in to the making of a electric vehicle, the vehicle would require protection from any faulty circuitry or battery problems. The electrical insulation papers would protect the vehicle and it’s in and around surroundings from any mishaps that might occur. This is expected to drive the global electrical insulation papers market share.
"Increasing Urbanization to Increase Need for Insulation "
Urbanization has a major development goal globally across continents. According to the United Nations, 55% of the world’s population resides in urban areas. But projections indicate there will be a gradual shift of the population from rural to urban areas. The population that resides in urban areas is expected to increase to 68% by 2050. As the population shifts, there would be a need for infrastructure. This would directly result in need for electrical appliances and electrical circuitry within the infrastructure. Furthermore, this would increase the need for insultation of these appliances and circuitry to protect the users and its surrounding from any mishaps that might occur. This is expected to boost the global electrical insulation papers market share.
RESTRAINING FACTORS
"High Investment Costs to Hamper Market Growth"
Maintenance and service costs of insultation papers are expensive. This is due to the high costs of replacements and unavailability of service facilities across continents. In addition, high investments pose as an inconvenience to manufactures and consumers during the purchase of the electrical insulation papers. However, there have been several accidents with these insulation papers which have turned fatal. Hence these factors are a major restraining factor for the global electrical insulation papers market growth.
Electrical Insulation Paper Market REGIONAL INSIGHTS
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"Asia Pacific Dominates the Market as Major Manufacturer"
Asia Pacific countries are the largest market shareholder for electrical insulation papers. This is built upon factors such as huge investments of the governments in the developing countries. These investments are planned for large-scale infrastructure projects. Adding on to this, is the rising purchasing power of people, rapid urbanization and growing population in this region. Due to this, the government aims to provide an affordable standard of living for its citizens. Europe is the second major shareholder of the global electrical insulation papers market.
KEY INDUSTRY PLAYERS
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- DuPont [U.S.]
- 3M [U.S.]
- ABB [Switzerland]
- Nitto [Japan]
- Weidmann Electrical [Switzerland]
- Von Roll [Switzerland]
- Cottrell Paper Company [U.S.]
- Teijin Aramid [Netherlands]
- Delfort [Austria]
- KÄMMERER [Germany]
- Yantai Metastar Special Paper [China]
- Miki Tokushu Paper [Japan]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 1356.6 Million in 2022 |
Market Size Value By |
US$ 2196.42 Million by 2031 |
Growth Rate |
CAGR of 5.5% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the electrical insulation paper market expected to touch by 2031?
The global electrical insulation papers market is expected to reach USD 2196.42 million by 2031.
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What CAGR is the electrical insulation paper market expected to exhibit by 2031?
The electrical insulation paper market is expected to exhibit a CAGR of 5.5% by 2031.
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Which are the driving factors of the electrical insulation paper market?
Increasing demand for electric vehicles and Urbanization are drivers of this electrical insulation paper market.
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Which are the top companies operating in the electrical insulation paper market?
DuPont, 3M, ABB, Nitto, Weidmann Electrical, Von Roll, Cottrell Paper Company, Teijin Aramid, Delfort, KÄMMERER, Yantai Metastar Special Paper, and Miki Tokushu Paper are key companies operating in the electrical insulation paper market.