The rising demand for Electrical Insulation Press paper is expected to grow by 5.3% over the next 7 years. In this report, we provide a detailed overview of the global market and key drivers and challenges in different industries. The Electrical Insulation Press Paper Market is estimated to be valued at US$ 3.1 billion in 2020 by growing with a CAGR of 5.3% during the forecast period.
Drivers of the Electrical Insulation Press Paper Market
The major drivers of the Electrical Insulation Press Paper Market are rapid industrialization, rapid urbanization etc. which has led to a rapid increase in the demand of Insulation as the requirement has increased a lot.
Restraints of the Electrical Insulation Press Paper Market
The major restraints of the Electrical Insulation Press Paper Market are high compaction pressure, high energy cost and low productivity.
Advantages of the Electrical Insulation Press Paper Market
The major advantages of the Electrical Insulation Press Paper Market are its high strength, durability, and flexibility. The press paper is made from natural fibres that are derived from wood pulp. It has a high resistance to moisture and does not absorb water like other materials. This makes it ideal for applications like electrical insulation, where the environment can be humid. The paper does not swell or change shape when exposed to humidity, making it an excellent material for electrical insulation.
In addition to its strong resistance to moisture, the paper is also resistant to heat and cold. It can withstand high temperatures without losing its shape or structure. As a result, it can be used in a wide range of industries including automotive, construction, electronics, and aerospace.
The paper is also resistant to chemicals and other corrosive materials. It will not corrode over time or react with any other substance that may come into contact with it. This makes it ideal for industries such as pharmaceuticals and cosmetics manufacturing where harsh chemicals are often used.
Market value and CAGR of the Electrical Insulation Press Paper Market
A CAGR of 3.1% is anticipated for the Electrical Insulation Presspaper Market during the forecast period, reaching USD 3535.8 million by 2028.
Key Players in the Global Electrical Insulation Press Paper Market
The key players in the global electrical insulation press paper market are Nippon Paper Industries Co., Ltd., Weyerhaeuser Company, UPM-Cymene Oya, Store Enso Oya, Suzan Pulp & Paper S.A., Domtar Corporation and Mayr-Melchor Kirton GmbH.
Challenges in the Electrical Insulation Press Paper Market
The major challenges of the Electrical Insulation Press Paper Market are the volatile raw material prices such as wood pulp, coal, and other organic chemicals. In addition, the stringent environmental regulations associated with the manufacturing of electrical insulation press paper are expected to hinder the market growth. Also, the high cost of the electrical insulation press paper will be a challenge for the market growth in future.
However, the demand for the market is on the rise as there has been rapid urbanization and industrialization which will increase the demand and need for the market.
Key Players of the Electrical Insulation Press Paper Market
The key players of the Electrical Insulation Press Paper Market are profiled in the report. Major companies include SEPCO (US), Nippon Paper Corecia (Japan), Leishman Technology Co., Ltd. (China), Jiangsu Guiraud Group Co., Ltd. (China), and Jincheng Paper Machinery Manufacturing Co., Ltd. (China).
The companies are investing in making the applicability of the insulation more varied as the demand has increased tremendously due to the industrialization and urbanization. Due to this, there is a surge in the demand for insulation Press- Paper Market.
In terms of application, motors & generators held a dominant position in 2015 accounting for 60% of the overall market revenues due to their widespread applications in electric vehicles including hybrid cars and buses
North America was estimated to be the leading regional segment owing to higher demand from various end use industries such as transportation and electronics among others
Asia Pacific is anticipated to witness highest CAGR over forecast period owing to rapid industrialization and economic development especially in countries like India and China which are likely to fuel demands
Impact of Covid-19
The Covid-19 pandemic has had a significant impact on the electrical insulation press paper market. The outbreak of the pandemic has led to a slowdown in the global economy, which has adversely affected the demand for electrical insulation press paper. The lockdown measures implemented by various governments across the globe to contain the spread of the virus have disrupted the supply chain of electrical insulation press paper and hindered production activities. This has resulted in a shortage of electrical insulation press paper in the market and has led to an increase in prices. The Covid-19 pandemic is expected to have a negative impact on the growth of the electrical insulation press paper market in 2020.
Recent development in the Electrical Insulation Press Paper Market
In January 2019, the Press paper Market saw the launch of new product by PolyOne.
In June 2019, the Press paper Market saw the launch of new product by Nitto Denko Corporation.
New innovation in the Electrical Insulation Press Paper Market is rated as medium.
In the past few years, there have been various new product launches and innovations in the Electrical Insulation Press Paper Market. In terms of product, PolyOne has launched a new product in January 2019, while Nitto Denko Corporation has launched a new product in June 2019. Both these companies are engaged in the manufacturing of electrical insulation press paper. Such innovation is very important and expected to change the working of the market.
Electrical Insulation Press Paper Market Scope
|Revenue forecast in 2028
|USD 3535.8 mn
|CAGR of 3.1 % during 2021-2028
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Nippon Paper Industries Co., Ltd., Weyerhaeuser Company, UPM-Cymene Oya, Store Enso Oya, Suzan Pulp & Paper S.A., Domtar Corporation and Mayr-Melchor Kirton GmbH.
Key Segments of the Electrical Insulation Press Paper Market
Type Overview, (USD million)
• Below 0.8 mm
• 0.8-5.0 mm
• above 5.0 mm
Application Overview, (USD million)
• Transformer Use
• Other Application
Regional Overview, (USD million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa