$14.3 Billion Worldwide Electrical Insulation Materials Industry to 2027 - Refurbishment of Existing Grid Networks is Driving Growth - ResearchAndMarkets.com
The global electrical insulation materials market size is projected to grow from USD 10.6 billion in 2022 to USD 14.3 billion by 2027, at a CAGR of 6.2% between 2022 and 2027.
- The global electrical insulation materials market size is projected to grow from USD 10.6 billion in 2022 to USD 14.3 billion by 2027, at a CAGR of 6.2% between 2022 and 2027.
- Rising demand from emerging markets and growth of renewable energy are expected to offer significant growth opportunities to manufacturers of electrical insulation materials.
- Transformers are among the most important part of power systems utilizing electrical insulation materials.
- Thermoplastics are widely used in electrical insulation materials, accounting for 34.2% of the overall market, in terms of value, in 2021.