Electrical Insulation Materials Market

Global Electrical Insulation Materials Market Analysis and Opportunity Assessment by Application, Type, Region, and Country – Forecast 2022 – 2032

The market is expected to generate an incremental $ opportunity of US$ 7,241.1Mn between 2022 and 2032

Category: Chemicals & Materials Published Date : October 2022 ID: CVC-00465 Format: PDF Pages: 300

Electrical Insulation Materials Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Electrical Insulation Materials Market grew at a CAGR of 5.4% between 2017-2021 and is estimated to be US$ 9,561.2Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 5.8% and is expected to reach a valuation of US$ 16,802.3Mn by 2032 end.

The market is driven by increased demand for thermosets, such as epoxy resins used in power generation to protect machinery and equipment. In addition, the growing demand for electrical insulating materials in batteries, wires, and cables will continue to drive market growth.

Market Dynamic


In EVs, electrical insulation materials are employed to reduce conductivity and safeguard electronic components. EV sales are rising due to rising pressure to reduce fuel use, emission standards, and shifting customer attitudes toward the adaptability of EVs. Sales of EVs as a whole are anticipated to increase from 6.6 million to 11.2 million, totaling 31.1 million.

This sector is anticipated to hold about 32% of the market in terms of new automobile sales. 2% of all car sales in the US where electric vehicle sales. According to Climatewire, sales of light-duty vehicles climbed by 5% and those of all passenger vehicles by 20%. The market for EVs in the US is anticipated to increase dramatically. These patterns indicate that demand for electrical insulation will increase.


The electric insulator industry has both organized and unorganized players/sectors. While players in the unorganized sector offer less expensive alternatives to build their market presence and break into local markets, the industry primarily targets industrial buyers and maintains excellent product quality. Leading market companies struggle against fierce competition from unorganized players who offer inexpensive, subpar goods.

These market participants from the unorganized sector can defeat the major firms due to their price parity and ability to maintain local supply networks. As low-quality products are marketed under the brand names of the industry leaders, the growth in sales of electric insulators on the grey market denigrates their reputations.


Renewable energy sources are frequently found far away from inhabited regions. These situations involve the utilization of HVDC wires. These transmission lines require steady and ongoing system monitoring to provide minimal losses and fault protection.

They are the method for long-distance electrical transmission that is most effective. For HVDC cables, insulation materials may also be employed below ground or on the seafloor. It is anticipated that initiatives like NordLink in Europe will link Germany and southern Norway. A significant component of Germany’s energiewende (plan for environmentally sustainable energy supply) is the HVDC cable projects.

Electrical Insulation Materials Market

Market Segments Covered in Report

By Application:

  • Power Systems
  • Electronics Systems
  • Cables & Transmission Lines
  • Domestic Portable Appliances
  • Others

By Type:

  • Thermoplastics
  • Epoxy Resins
  • Ceramics
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is the power systems segment projected to account for the largest share of the electrical insulation materials market?

In terms of value, the power systems sector held a 25.8% share of the market for electrical insulating materials. Power systems transport electricity produced in plants from one location to another. Developing nations like India, Brazil, and Indonesia are expanding their grid systems to offer power to rural areas.

Additional generation capacity expansions are anticipated to meet demand, and these additions are expected to call for new transmission and distribution infrastructure. As a result, the market for power systems will see an increase in demand for electrical insulation materials.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

  • With a market share of 48.7%, Asia Pacific is expected to develop at a CAGR of 7.9% in value during the estimated period, making it a significant market for the manufacture of electrical insulating materials. Manufacturers of electrical insulating materials find the area a desirable investment location due to the accessibility of cheap labor and raw materials and the rising domestic demand in the power generation industry. Several factors, including the growing population, urbanization, and industrialization, will drive this region’s electrical insulation materials market.
  • According to projections, the United States will hold around 89% of the market for electrical insulation materials in North America. The market is anticipated to increase by 7.0% annually, reaching US$ 1.62 Billion. Another factor influencing the need for electrical insulating materials in the U.S. is the presence of well-known transformer manufacturers, such as General Electric.

Competition Analysis

Leading competitors in the electrical insulation materials market are focused on the growth of their production capabilities while investing in strategic business agreements. In addition, players are boosting their R&D spending to create innovative, flexible electrical insulation materials and introduce improved insulation solutions that can reduce power losses.

The key developments in the Global Electrical Insulation Materials Market:

  • In February 2021, a $220 million expansion project at the Circleville plant was announced by DuPont Interconnect Solutions, a division of DuPont Electronics & Industrial, to increase the production of Kapton polyimide films.
  • In March 2018, three novel electrical insulating materials were introduced to meet various needs, designated Formex N3, Formex GL, and Formex GS by ITW Formex.

A list of some of the key suppliers present in the market are:

  • Nitto Denko Corporation
  • 3M Company
  • I. DuPont de Nemours and Company
  • The Dow Chemical Company
  • Showa Denko Materials Co., Ltd.
  • ITW Formex
  • Elantas GmbH
  • Nikkan Industries Co., Ltd
  • Dietrich Müller GmbH
  • Fralock Innovative Materials Manufacturing & Automation
  • Haysite Reinforced Plastics
  • Miki Tokushu Paper MFG. CO., LTD.
  • Furukawa Electric Power Systems Co., Ltd.
  • Vitar Insulation Manufacturers Ltd.

Report Coverage and Highlights

  • Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
  • Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
  • The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
  • Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
  • Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
  • Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
  • Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
  • Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
  • Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
  • Strategic market analysis, recommendations, and future headways on crucial winning strategies.
Research ScopeDetails
Forecast period2022-2032
Historical data available for2017-2021
Market analysisUSD Million for Value and Tons for Volume, and CAGR from 2022 to 2032
Key regions coveredNorth America, Latin America, Europe, Asia-Pacific, Middle East, and Africa
Key countries coveredUS, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt
Key segments coveredBy Application, Type, and Region
Customization scopeAvailable upon Request
Pricing and purchase optionsAvailable upon Request