Rockville, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, the global electrotechnical paper market is estimated at US$ 1,017.7 million in 2022 and is expected to expand at an impressive CAGR of 4.7% during the forecast years of 2022-2032.
The shift from coal to natural gas based powered generation is resulting in significant investment. Due to this investment, it will upgrade and improve transmission from more nature friendly infrastructure and will also ensure grid reliability. Further, tightening environmental regulations have resulted in a decline in the development of coal-fired generation plants.
Therefore, the upgradation of grid infrastructure will continue to drive investments as the power generation shift becomes more pronounced over the forecast period. This transition is expected to drive the growth of the electrotechnical paper market in this segment.
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Furthermore, growing number of installations of the electric system at commercial and residential places such as air conditioners, ventilators, lighting systems, and fire protection systems is majorly driving the electric T&D industry. Modernization in the electric grid and the technological advancement of T&D equipment are the major driving factors in the growth of the market.
Key Takeaways from Market Study
- The global electrotechnical paper market is projected to expand at an impressive CAGR of 4.7% and be valued at US$ 1,613.1 million by 2032
- The market witnessed 1.1% CAGR for the period of 2017-2021
- Under product, presspaper with polyester film electrotechnical paper dominate the market and are valued at US$ 339.7 million in 2022
- North America and East Asia dominated the market with 23.5% and 23.6% market share in 2021
- Together, transformer and cables by application is likely to represent nearly 72.2% market share in 2022
“Expansion of the market will rely on replacement cycle of electrotechnical paper in several applications which will enable the manufacturers to meet needs and demand” says a Fact.MR analyst.
Segmentation of Electrotechnical Paper Industry Research
- By Product:
- Press paper
- Diamond Dotted Press paper
- Press paper with Polyester Film
- Crepe Paper
- Aluminum Crepe Paper
- By Applications:
- Cables
- Transformers
- Motors
- Others
- By Sales Channel:
- OEM (First Fit)
- Aftermarket (Replacement)
- Direct Sales
- Retail Sales
- Third-party Online Sales
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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Market Development
Manufacturers will speed up output to fulfil market demand while concentrating on expanding their footprint in developing nations. Thus, it is projected that the electrotechnical paper market would eventually restore its previous velocity.
Additionally, market participants are making an attempt to grow their trade by concentrating on a variety of end customers and geographical areas. Additionally, market players are concentrating on enhancing their product portfolios by investing in R&D to provide sophisticated and intelligent products.
Key Companies Profiled
- Ahlstrom-Munksjö Oyj
- 3M Co
- Von Roll Holding AG
- Weidmann Electrical Technology AG
- Hitachi ABB Power Grids
- DuPont de Nemours, Inc.
- Nordic Paper Holding AB
- Delfort Group AG
- Kämmerer Paper GmbH
- Cottrell Paper Company
- Miki Tokushu Paper MFG. CO., Ltd.
- Paramount Tube
Why the US Electrotechnical Paper Market is expected to Decline?
Over the course of 2017-2021, the US BSKP index in the North America region decreased by 49 points. In response, European countries have been trying to attract US manufacturers by placing a strong emphasis on knowledge-intensive manufacturing and the advancement of sectors such as the electrical sector, motors, transformers, and cables.
This has dropped the value of America's electrical market. Additionally, there are lots of applications where high-voltage cables, transformers, bushings, and associated applications are utilized in our country. The US market for electrotechnical paper is projected to increase to worth of almost US$ 285.5 million in 2032.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global electrotechnical paper market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of product (presspaper, diamond dotted presspaper, presspaper with polyester film, crepe paper, and aluminium crepe paper), application (cables, transformers, motors, and others), sales channel (OEM (first fit), and aftermarket (replacement) (direct sales, retail sales, and third party online sales)), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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