Electrotechnical Paper Market Given Impetus by Global Transition from Coal to Greener Energy Sources
Key players in the electrotechnical papers market are focusing on markets in the Asia Pacific, with significant electricity infrastructure investments being made in China and India.
The coronavirus pandemic is likely to hurt demand for electrotechnical papers in the short term, owing largely to lockdown restrictions manufacturing activities, in addition to restrictions on international trade, which are disrupting supply chains. However, the market is likely to display strong recovery post-pandemic with the transition towards smart grids.
"Cellulose a popular material for electrotechnical paper is polar characterized by a high dielectric constant. The product even finds use in high voltage submarine power cables, minimizing damage from leaks which will favor a positive trajectory for the market in the times ahead." says the Fact.MR study.
Electrotechnical Paper Market- Key Takeaways
• Electrotechnical press paper is expected reflect strong growth owing to resistance properties and mechanical strength characteristics.
• Transformers insulation applications are major contributors to revenue, on the back of improvements to large-scale grid design.
• North America followed by Europe are dominant electrotechnical paper markets owing to investments into the modernization of electric infrastructure.
Read Report- https://www.factmr.com/
Electrotechnical Paper Market- Driving Factors
• Steady rise in demand from electronic and electric industry verticals for transformer, capacitor, conductor, bushing and cable applications.
• Global urbanization and industrialization, and smart grid trends support adoption of electrotechnical paper.
Electrotechnical Paper Market- Major Restraints
• Instability in impregnated electrotechnical paper and issues in terms of maintaining uniformity are challenges for manufacturers.
• Problems in terms of performance under major temperature changes hinders adoption in the industry.
COVID-19 Impact on Electrotechnical Paper Market
The covid-19 pandemic has moderately affected the electrotechnical paper market. Lockdown restrictions on manufacturing activities, coupled with the uncertainty over the duration and severity of the outbreak has hurt short term market prospects. Also, restrictions on trade and lack of spending on infrastructure has also limited demand in the short term.
On the other hand, the transition from coal to gas-based power and renewables and projects towards smart grids is likely to enable a strong recovery as regulations are gradually relaxed in the months to come, even as employee safety remains a top priority.
Weidmann Electrical Technology AG, Ahlstrom-Munksjo Oyj, Hitachi ABB Power Grids, and 3M Co. are some of the more prominent players operating in the electrotechnical paper market.
PR Source- https://www.factmr.com/