Electrical insulation coatings are designed to impart high electric strength and provide protection against environmental impacts for various electrical applications. Coating provides excellent ultraviolet radiation resistance coupled with tracking resistance which is suitable for outdoor exposure in extreme weather conditions. The electrical insulation coating provides excellent water repellent properties. The electrical insulation coating is provided to several applications such as for electrical rotary equipment such as motors and generators, transformers and sensors.
Electrical insulation coating is substantially used in end-user industries such as power generation, industrial electrical machinery, automotive, aerospace, marine, building & construction and among others.
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Market Dynamics
The global electrical insulation coatings are driven by rising demand for energy saving in the electrical power to prevent corrosion with growing strict policies, rules & regulations by governments has impelled the electrical insulation coating market. Further growing demand f electrical insulation coating in the end-user industries such as buildings &construction, automotive, power generation, electrical & electronics etc. around the globe have propelled the demand for this market.
Further growing demand for the energy saving in the electrical power to prevent corrosion with growing strict policies rules & regulations by governments. For instance, the occupational safety and health administration (OSHA) the federal government agency has set electrical standards are based on the national electric code, national fire protection association standards NFPA 70, and NFPA 70E, electrical safety requirements for employee workplaces. It created a massive demand for electrical insulation coating in the industrial sectors to facilitate safety and protection against hazardous events.
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Segment Analysis
In terms of form, the global electrical insulation coating market is divided into liquid and powder forms. Among these, liquid form has the highest market share owing to its demand in the manufacturing facilities of several electrical cables, wires and rotary motors. As a liquid form of the coating is more eco-friendly and has low cost than other types of the coating. It also possesses wear resistance which makes it suitable for harsh environmental conditions. Several leading players are launching new coatings for electrical insulation used in the automotive, building & construction sector and among other industries. Covestro, one of the world’s largest polymer manufacturers launched a wide range of smart and sustainable polyurethane (PU) coatings for the construction, footwear, automobile, and furniture industries at the Paint India exhibition.
Competitive Landscape
The electrical insulation coating Market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Kansai Paint, The Fisher Barton Group, Elantas GmbH, Nippon Paint, AkzoNobel, Chemetall Group, Axalta Coating Systems, PPG Industries, Jotun Group, The Sherwin-Williams Company, Mascoat and among others.
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