乾式変圧器絶縁市場 – 2030年までの世界予測

Dry Transformer Insulation Market - Global Forecast To 2030

乾式変圧器絶縁市場 - タイプ [コーティング(電気絶縁、耐火・熱保護、防湿・環境保護)、固体絶縁体(電気絶縁、ブッシング・端子、その他)、コンポーネント(巻線、コア、エンクロージャ、ブッシング、スペーサー・サポーター]、および地域別 - 2030年までの世界予測
Dry Transformer Insulation Market by Type (Coatings (Electrical Insulation, Fire-Resistance & Thermal Protection, Moisture & Environmental Protection), Solid Insulators (Electrical Insulation, Bushings & Terminals, Other)), Component (Winding, Core, Enclosure, Bushing, Spacers & Supporters), and Region - Global Forecast to 2030

商品番号 : SMB-79843

出版社MarketsandMarkets
出版年月2025年5月
ページ数264
図表数308
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

本市場調査は、乾式変圧器絶縁市場を様々なセグメントにわたって網羅しています。市場規模と成長ポテンシャルを、タイプ、コンポーネント、地域に基づき、様々なセグメントにわたって推定することを目的としています。また、主要プレーヤーの詳細な競合分析、企業概要、製品および事業内容に関する主要な考察、最近の動向、そして乾式変圧器絶縁市場における地位向上のために採用した主要な成長戦略についても取り上げています。

The dry transformer insulation market is projected to reach USD 1.21 billion by 2030 from USD 0.93 billion in 2025, at a CAGR of 5.5% during the forecast period. The market for dry transformer insulation is predominantly driven by increased installations in both commercial and residential sectors, reflecting a growing demand for reliable and safe electrical power distribution. The necessity for compact and efficient electrical systems is heightened with the ongoing urbanization and infrastructure expansion. As development progresses, there is a notable trend of replacing wet insulation systems with dry transformer solutions, given their low maintenance requirements and fire-resistant properties. Additionally, stringent regulations regarding safety and environmental standards are propelling market growth. Dry transformer insulation systems utilize non-toxic, environmentally friendly materials that align with green building initiatives and sustainability goals. The global movement toward energy efficiency and minimizing carbon footprints further enhances the appeal of dry-type transformers within modern electrical networks.

乾式変圧器絶縁市場は、2025年の9億3,000万米ドルから2030年には12億1,000万米ドルに達し、予測期間中に5.5%のCAGRで成長すると予測されています。乾式変圧器絶縁市場は、信頼性と安全性に優れた電力供給に対する需要の高まりを反映し、商業部門と住宅部門の両方で設置数の増加が主な原動力となっています。都市化とインフラ拡張の進展に伴い、コンパクトで効率的な電気システムの必要性が高まっています。開発が進むにつれ、メンテナンスの手間が少なく耐火性に優れた乾式変圧器ソリューションが湿式絶縁システムに取って代わる傾向が顕著になっています。

乾式変圧器絶縁市場 - 2030年までの世界予測
dry-transformer-insulation-market-Overview

さらに、安全性と環境基準に関する厳格な規制も市場の成長を後押ししています。乾式変圧器絶縁システムは、グリーンビルディングの取り組みや持続可能性の目標に沿った、無毒で環境に優しい材料を使用しています。エネルギー効率の向上と二酸化炭素排出量の最小化に向けた世界的な動きにより、現代の電力網における乾式変圧器の魅力はさらに高まっています。

Moreover, the advancement of smart grid technologies is stimulating demand as these sophisticated systems require advanced, reliable, and environmentally sustainable transformer options. Consequently, dry insulation technologies present a viable solution. However, the market is not without its challenges. The high cost associated with dry transformer coatings can deter potential customers, particularly those in cost-sensitive markets or less demanding geographical regions. Furthermore, the thermal limitations inherent in dry transformer coatings restrict their applicability in scenarios that involve consistently high loads or elevated temperatures, where oil-filled alternatives may be more appropriate.

“Coatings is second fastest-growing type segment in dry transformer insulation market during forecast period”

Coatings represent the second fastest-growing segment in the dry transformer insulation market, primarily due to their critical role in enhancing the performance, safety, and durability of transformers. These specially formulated products provide an added layer of protection for transformer components, significantly improving resistance to moisture, dust, chemicals, and thermal stress factors that can lead to component degradation over time.

As the demand for transformers increases, driven by urban infrastructure development, renewable energy projects, and the integration of smart grids, the reliability and performance of insulation and transformers themselves become mission-critical. Consequently, coatings are emerging as a focal solution to meet customer expectations for extended lifespan and reduced maintenance needs regarding insulation. The introduction of innovative coatings, many of which are eco-friendly and fire-resistant, enhances their appeal, particularly for clients located in environmentally sensitive areas with heightened fire risks. Furthermore, coatings are gaining traction due to their ease of application during manufacturing and refurbishment processes, requiring less time, resources, and capital than traditional insulation methods.

“Core segment to hold second-largest share of dry transformer insulation market during forecast period”

In the dry transformer insulation market, core insulation commands the second-largest market share during the forecast period. The significance of core insulation in transformer applications cannot be overstated, as it is crucially linked to the performance, efficiency, and reliability of a transformer. The core, being the primary magnetic component, is integral to the efficient transfer of energy between windings while minimizing losses through optimal insulation. Cores are engineered to withstand both thermal and electrical stress, necessitating the use of high-performance insulation materials with advanced characteristics. The demand for core insulation materials has evolved in response to the trend towards smaller, more efficient dry-type transformers, particularly within urban infrastructure and industrial applications where compactness is essential. While the majority of insulation materials are predominantly utilized within the windings, the core remains a critical factor due to its direct correlation with transformer losses and the overall operational life cycle. Innovations in amorphous metal cores, resin-based insulation systems, and a heightened emphasis on insulation strength, loss minimization, fire safety, and energy efficiency have intensified the focus on core insulation.

Furthermore, recent advances in energy efficiency and fire safety regulations have bolstered the demand for high-performance core insulation systems, making them a vital consideration in the evolving landscape of transformer technology.

“Asia Pacific to account for largest share of dry transformer insulation market during forecast period”

Asia Pacific holds the largest share of the dry transformer insulation market, driven by rapid economic growth, advancements in power infrastructure, and a heightened focus on energy efficiency. Key players such as China, India, Japan, and South Korea have significantly bolstered growth through substantial investments in urbanization, industrialization, and renewable energy initiatives.

China, in particular, leads the way with large-scale projects focused on rural electrification and comprehensive grid modernization, which necessitate safe and reliable transformer systems. Dry-type transformers are frequently favored in urban environments due to their reduced fire risk and lower maintenance requirements. This preference extends to critical applications, including hospitals, data centers, and commercial buildings. In India, the government’s commitment to rural electrification and the implementation of smart grid technologies under the “Power for All” initiative has further stimulated demand for dry transformers. The region’s strong manufacturing base and innovation-driven strategies of key market players in transformer insulation materials enhance its competitive edge. Additionally, government policies promoting clean energy and stringent safety standards are driving the adoption of advanced insulating materials in dry transformers. Collectively, these factors contribute to the region’s high electricity consumption and ongoing infrastructure development, positioning Asia Pacific as the largest and fastest-growing market for dry transformer insulation globally.

Extensive primary interviews were conducted to determine and verify the market size for several segments and sub-segments, and the information was gathered through secondary research.

The break-up of primary interviews is given below:

  • By Department: Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
  • By Designation: C Level: 35%, Director Level: 30%, and Executives: 35%
  • By Region: North America: 25%, Europe: 45%, Asia Pacific: 20%, South America: 5%, Middle East & Africa 5%

3M (US), The Sherwin-Williams Company (US), PPG Industries, Inc. (US), DuPont (US), WEG (Brazil), Huntsman International LLC (US),  ALTANA AG (Germany), Krempel GmbH (Germany), PUCARO Electrical Insulation GmbH (Germany), and Kansai Altan (Turkey) are some of the key players in the dry transformer insulation market.

乾式変圧器絶縁市場 - 2030年までの世界予測 ecosystem
dry-transformer-insulation-market-Ecosystem

The study includes an in-depth competitive analysis of these key players in the authentication and brand

protection market, with their company profiles, recent developments, and key market strategies.

Research Coverage

The market study covers the dry transformer insulation market across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on type, component, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments, and key growth strategies they adopted to improve their position in the dry transformer insulation market.

Key Benefits of Buying the Report

The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall dry transformer insulation market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights into the following points:

  • Analysis of key drivers (Rising installations in commercial and residential areas, Increasing stringent safety and environmental regulations, supporting sustainability and green building goals, expansion of smart grid technologies), restraints (High initial cost of dry transformer coatings, thermal limitations of dry transformer coatings), opportunities (Advancements of coating technologies, rapid expansion of renewable energy projects), challenges (Complex manufacturing and application processes).
  • Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities, and new product & service launches in the dry transformer insulation market
  • Market Development: Comprehensive information about lucrative markets – the report analyses the dry transformer insulation market across varied regions
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the dry transformer insulation market
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like 3M (US), The Sherwin-Williams Company (US), PPG Industries, Inc. (US), DuPont (US), WEG (Brazil), Huntsman International LLC (US), ALTANA AG (Germany), Krempel GmbH (Germany), PUCARO Electrical Insulation GmbH (Germany), and Kansai Altan (Turkey) are the top manufacturers covered in the dry transformer insulation market.

Table of Contents

1               INTRODUCTION              25

1.1           STUDY OBJECTIVES       25

1.2           MARKET DEFINITION   25

1.3           STUDY SCOPE   26

1.3.1        DRY TRANSFORMER INSULATION MARKET SEGMENTATION

AND REGIONAL SCOPE 26

1.3.2        INCLUSIONS AND EXCLUSIONS 27

1.3.3        YEARS CONSIDERED      27

1.3.4        CURRENCY CONSIDERED            27

1.3.5        UNITS CONSIDERED      28

1.4           STAKEHOLDERS               28

2               RESEARCH METHODOLOGY       29

2.1           RESEARCH DATA              29

2.1.1        SECONDARY DATA          30

2.1.1.1    List of key secondary sources              30

2.1.1.2    Key data from secondary sources       30

2.1.2        PRIMARY DATA 31

2.1.2.1    Key data from primary sources           31

2.1.2.2    List of primary interview participants—demand and supply side                 32

2.1.2.3    Key industry insights           32

2.1.2.4    Breakdown of interviews with experts               33

2.2           MARKET SIZE ESTIMATION         33

2.2.1        BOTTOM-UP APPROACH              34

2.2.2        TOP-DOWN APPROACH                34

2.3           FORECAST NUMBER CALCULATION       35

2.4           DATA TRIANGULATION                36

2.5           FACTOR ANALYSIS          37

2.6           ASSUMPTIONS  37

2.7           LIMITATIONS & RISKS   38

3               EXECUTIVE SUMMARY  39

4               PREMIUM INSIGHTS       43

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN

DRY TRANSFORMER INSULATION MARKET         43

4.2           DRY TRANSFORMER INSULATION MARKET, BY TYPE                 43

4.3           DRY TRANSFORMER INSULATION MARKET, BY COMPONENT    44

4.4           DRY TRANSFORMER INSULATION MARKET, BY APPLICATION   44

4.5           DRY TRANSFORMER INSULATION MARKET, BY COUNTRY            45

5               MARKET OVERVIEW       46

5.1           INTRODUCTION              46

5.2           MARKET DYNAMICS       46

5.2.1        DRIVERS               47

5.2.1.1    Rising installations in commercial and residential areas                 47

5.2.1.2    Increasingly stringent safety and environmental regulations supporting sustainability and green building goals         47

5.2.1.3    Expansion of smart grid technologies                50

5.2.2        RESTRAINTS      51

5.2.2.1    High initial costs of dry transformer coatings  51

5.2.2.2    Thermal limitations of dry transformer coatings             51

5.2.3        OPPORTUNITIES              52

5.2.3.1    Advancements in coating technologies             52

5.2.3.2    Rapid expansion of renewable energy projects                 52

5.2.4        CHALLENGES    53

5.2.4.1    Complex manufacturing and application processes        53

5.3           PORTER’S FIVE FORCES ANALYSIS           54

5.3.1        THREAT OF NEW ENTRANTS      55

5.3.2        THREAT OF SUBSTITUTES          55

5.3.3        BARGAINING POWER OF SUPPLIERS       55

5.3.4        BARGAINING POWER OF BUYERS             56

5.3.5        INTENSITY OF COMPETITIVE RIVALRY 56

5.4           KEY STAKEHOLDERS AND BUYING CRITERIA     57

5.4.1        KEY STAKEHOLDERS IN BUYING PROCESS           57

5.4.2        BUYING CRITERIA           58

5.5           MACROECONOMIC INDICATORS              59

5.5.1        GLOBAL GDP TRENDS  59

6               INDUSTRY TRENDS         61

6.1           INTRODUCTION              61

6.2           VALUE CHAIN ANALYSIS               61

6.3           REGULATORY LANDSCAPE         63

6.3.1        REGULATIONS  63

6.3.1.1    North America      63

6.3.1.2    Asia Pacific            63

6.3.1.3    Europe   64

6.3.2        STANDARDS      64

6.3.2.1    IEEE C57.12.01 – General requirements for dry-type distribution and power transformers       64

6.3.2.2    ISO 12944 – Paints and varnishes – corrosion protection of steel structures               65

6.3.2.3    ASTM D3359 – Standard test methods for measuring adhesion by tape test             65

6.3.3        REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             65

6.4           TRADE ANALYSIS             67

6.4.1        IMPORT SCENARIO (HS CODE 850434)    67

6.4.2        EXPORT SCENARIO (HS CODE 850434)    68

6.5           ECOSYSTEM ANALYSIS  70

6.6           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            71

6.7           CASE STUDY ANALYSIS 72

6.7.1        EXTENDING TRANSFORMER LIFESPAN AND ENHANCING GRID RESILIENCE THROUGH ADVANCED PROTECTIVE COATINGS AMID SUPPLY CHALLENGES    72

6.8           TECHNOLOGY ANALYSIS             72

6.8.1        KEY TECHNOLOGIES     73

6.8.1.1    Epoxy resin coating              73

6.8.1.2    Nanocomposite coatings     73

6.8.2        COMPLEMENTARY TECHNOLOGIES       74

6.8.2.1    Vacuum Pressure Impregnation (VPI)             74

6.8.2.2    Surface preparation techniques          74

6.9           KEY CONFERENCES AND EVENTS, 2025–2026        75

6.10         PATENT ANALYSIS          75

6.10.1      METHODOLOGY              76

6.10.2      DOCUMENT TYPES         76

6.10.3      PUBLICATION TRENDS IN LAST 10 YEARS            77

6.10.4      INSIGHTS            77

6.10.5      LEGAL STATUS OF PATENTS      77

6.10.6      JURISDICTION ANALYSIS              78

6.10.7      TOP APPLICANTS            79

6.11         IMPACT OF AI/GEN AI ON DRY TRANSFORMER INSULATION MARKET   80

6.12         PRICING ANALYSIS          81

6.12.1      AVERAGE SELLING PRICE, BY REGION, 2022–2024                 81

6.12.2      AVERAGE SELLING PRICE OF DRY TRANSFORMER INSULATION OF KEY PLAYERS, BY APPLICATION, 2024   81

6.12.3      AVERAGE SELLING PRICE TREND, BY TYPE, 2022–2024                 82

6.13         IMPACT OF 2025 US TARIFF ON DRY TRANSFORMER INSULATION MARKET   82

6.13.1      KEY TARIFF RATES IMPACTING MARKET              82

6.13.2      PRICE IMPACT ANALYSIS             83

6.13.3      KEY IMPACTS ON VARIOUS REGIONS/COUNTRIES                 83

6.13.4      IMPACT ON END-USE INDUSTRIES          84

7               DRY TRANSFORMER INSULATION MARKET, BY TYPE                 85

7.1           INTRODUCTION              86

7.2           COATINGS          89

7.2.1        DEMAND FOR SAFE AND EFFICIENT TRANSFORMER OPERATION TO DRIVE MARKET               89

7.2.2        ELECTRICAL INSULATION COATINGS   89

7.2.2.1    Protection against electrical leakage and enhanced electrical strength to boost market     89

7.2.2.2    Epoxy resin            90

7.2.2.3    Silicon    90

7.2.2.4    Varnish  90

7.2.2.5    Polyamide              91

7.2.2.6    Other electrical insulation coatings   91

7.2.3        FIRE-RESISTANT & THERMAL PROTECTION COATINGS                 92

7.2.3.1    Demand for fire safety with reduced flame spread and protection of critical structures to boost growth 92

7.2.3.2    Epoxy resins          92

7.2.3.3    Other fire-resistant and thermal protection coatings     93

7.2.4        MOISTURE & ENVIRONMENTAL PROTECTION COATINGS          93

7.2.4.1    Resistance to environment, rain, dust, and temperature fluctuations to boost growth                93

7.3           SOLID INSULATORS        93

7.3.1        ENHANCED FIRE SAFETY, LOWER MAINTENANCE, AND IMPROVED SUSTAINABILITY TO PROPEL MARKET          93

7.3.2        ELECTRICAL INSULATION           94

7.3.2.1    Excellent dielectric properties to drive growth                 94

7.3.2.2    Aramid paper        94

7.3.2.3    Epoxy resin encapsulated casing        95

7.3.2.4    Polyester film        95

7.3.2.5    Other electrical insulation  96

7.3.3        BUSHINGS & TERMINALS              96

7.3.3.1    Mechanical stability and excellent performance under electrical stress to fuel market             96

7.3.3.2    Epoxy resin bushings           96

7.3.3.3    Silicone rubber bushing      96

7.3.4        OTHER SOLID INSULATORS        97

8               DRY TRANSFORMER INSULATION MARKET, BY COMPONENT    98

8.1           INTRODUCTION              99

8.2           WINDINGS (COILS)         101

8.2.1        MINIMUM INDOOR FIRE RISK TO DRIVE MARKET                 101

8.2.2        ENCAPSULATOR WINDINGS (HV & LV TERMINALS

(HIGH-VOLTAGE INSULATION)                101

8.2.3        OTHER WINDINGS          102

8.3           CORES  102

8.3.1        ENHANCED MAGNETIC EFFICIENCY AND LONGEVITY WITH INSULATED CORE LAMINATION TO BOOST MARKET                 102

8.4           ENCLOSURES    103

8.4.1        SHIELDING TRANSFORMER INTEGRITY WITH PROTECTIVE AND FIRE-RESISTANT ENCLOSURES TO PROPEL GROWTH             103

8.5           BUSHINGS           103

8.5.1        ENSURING HIGH-VOLTAGE RELIABILITY THROUGH ADVANCED INSULATION TO FUEL GROWTH     103

8.6           SPACERS & SUPPORTERS              104

8.6.1        MAXIMIZING THERMAL PERFORMANCE WITH SPECIALIZED COOLING SURFACE COATINGS TO SUPPORT GROWTH             104

8.7           OTHER COMPONENTS  104

8.7.1        COOLING SURFACES      105

8.7.2        MECHANICAL & STRUCTURAL INSULATORS       105

8.7.3        OTHERS                105

9               DRY TRANSFORMER INSULATION MARKET, BY APPLICATION   106

9.1           INTRODUCTION              107

9.2           INDUSTRIAL      109

9.2.1        RAPID INDUSTRIALIZATION AND RISING INDUSTRIAL ACTIVITIES TO BOOST MARKET               109

9.3           COMMERCIAL   109

9.3.1        RISING DEMAND FOR HIGH SAFETY, ADAPTABILITY, AND ENERGY EFFICIENCY TO DRIVE MARKET   109

9.4           OTHER APPLICATIONS 110

10            DRY TRANSFORMER INSULATION MARKET, BY REGION                 111

10.1         INTRODUCTION              112

10.2         NORTH AMERICA             114

10.2.1      US           121

10.2.1.1  Demand for energy-efficient, safe, and environmentally conscious power distribution solutions to drive market 121

10.2.2      CANADA               123

10.2.2.1  Increasing environmental regulations and infrastructural development to support market growth            123

10.2.3      MEXICO                124

10.2.3.1  High investments and low manufacturing costs to fuel demand                 124

10.3         EUROPE               126

10.3.1      GERMANY           133

10.3.1.1  Increasing demand for compact, safe, and efficient transformers to drive market      133

10.3.2      FRANCE                135

10.3.2.1  Investments in green energy infrastructure to support market growth    135

10.3.3      UK          136

10.3.3.1  Innovations, technological advancements, and investments to drive market          136

10.3.4      ITALY    138

10.3.4.1  Growing geriatric population and strong focus on research & innovation to fuel market    138

10.3.5      REST OF EUROPE             139

10.4         ASIA PACIFIC     141

10.4.1      CHINA  148

10.4.1.1  Shift toward renewable energy and electrification to support market    148

10.4.2      JAPAN   150

10.4.2.1  Infrastructure modernization and shift toward renewable energy sources to increase demand                 150

10.4.3      INDIA    152

10.4.3.1  Environmental regulations and industrial expansion to fuel demand  152

10.4.4      SOUTH KOREA  153

10.4.4.1  Technological advancements and environmental factors to drive market    153

10.4.5      REST OF ASIA PACIFIC   155

10.5         MIDDLE EAST & AFRICA                156

10.5.1      GCC COUNTRIES              163

10.5.1.1  Saudi Arabia          165

10.5.1.1.1                Government initiatives to support market growth                 165

10.5.1.2  UAE        166

10.5.1.2.1                Focus on infrastructure development and renewable energy integration to drive market    166

10.5.1.3  Rest of GCC countries         168

10.5.2      REST OF MIDDLE EAST & AFRICA             169

10.6         SOUTH AMERICA             171

10.6.1      BRAZIL 177

10.6.1.1  Rapid industrial development, urban expansion, and sustainable initiatives to drive market   177

10.6.2      ARGENTINA       178

10.6.2.1  Low-maintenance and eco-friendly power solutions to boost market    178

10.6.3      REST OF SOUTH AMERICA           179

11            COMPETITIVE LANDSCAPE         181

11.1         OVERVIEW          181

11.2         KEY PLAYER STRATEGIES, 2023–2025        181

11.3         REVENUE ANALYSIS       184

11.4         MARKET SHARE ANALYSIS, 2024                 184

11.5         COMPANY VALUATION AND FINANCIAL METRICS                 187

11.6         BRAND/PRODUCT COMPARISON ANALYSIS        189

11.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024                 190

11.7.1      STARS   190

11.7.2      EMERGING LEADERS     190

11.7.3      PERVASIVE PLAYERS      190

11.7.4      PARTICIPANTS 190

11.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2024         192

11.7.5.1  Company footprint               192

11.7.5.2  Region footprint   192

11.7.5.3  Type footprint       193

11.7.5.4  Component footprint           193

11.7.5.5  Application footprint            194

11.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024        194

11.8.1      PROGRESSIVE COMPANIES         195

11.8.2      RESPONSIVE COMPANIES            195

11.8.3      DYNAMIC COMPANIES  195

11.8.4      STARTING BLOCKS         195

11.8.5      COMPETITIVE BENCHMARKING: KEY STARTUPS/SMES, 2024        197

11.8.5.1  Detailed list of key startups/SMEs    197

11.8.5.2  Competitive benchmarking of key startups/SMEs          198

11.9         COMPETITIVE SCENARIO             199

11.9.1      OTHER DEVELOPMENTS              199

11.9.2      PRODUCT LAUNCHES   199

11.9.3      DEALS  200

11.9.4      EXPANSIONS     202

12            COMPANY PROFILES      204

12.1         KEY PLAYERS     204

12.1.1      3M           204

12.1.1.1  Business overview 204

12.1.1.2  Products/Solutions/Services offered 205

12.1.1.3  MnM view              207

12.1.1.3.1                Right to win           207

12.1.1.3.2                Strategic choices   207

12.1.1.3.3                Weaknesses and competitive threats 208

12.1.2      THE SHERWIN-WILLIAMS COMPANY      209

12.1.2.1  Business overview 209

12.1.2.2  Products/Services/Solutions offered 210

12.1.2.3  Recent developments           211

12.1.2.3.1                Deals      211

12.1.2.4  MnM view              212

12.1.2.4.1                Right to win           212

12.1.2.4.2                Strategic choices   212

12.1.2.4.3                Weaknesses and competitive threats 212

12.1.3      PPG INDUSTRIES, INC.  213

12.1.3.1  Business overview 213

12.1.3.2  Products/Services/Solutions offered 214

12.1.3.3  Recent developments           216

12.1.3.3.1                Product launches  216

12.1.3.3.2                Expansions             216

12.1.3.3.3                Others    217

12.1.3.4  MnM view              218

12.1.3.4.1                Right to win           218

12.1.3.4.2                Strategic choices   218

12.1.3.4.3                Weaknesses and competitive threats 218

12.1.4      DUPONT              219

12.1.4.1  Business overview 219

12.1.4.2  Products/Solutions/Services offered 220

12.1.4.3  Recent developments           221

12.1.4.3.1                Others    221

12.1.4.4  MnM view              222

12.1.4.4.1                Right to win           222

12.1.4.4.2                Strategic choices   222

12.1.4.4.3                Weaknesses and competitive threats 222

12.1.5      WEG      223

12.1.5.1  Business overview 223

12.1.5.2  Products/Solutions/Services offered 224

12.1.5.3  Recent developments           225

12.1.5.3.1                Deals      225

12.1.5.3.2                Expansions             226

12.1.5.4  MnM view              227

12.1.5.4.1                Right to win           227

12.1.5.4.2                Strategic choices   227

12.1.5.4.3                Weaknesses and competitive threats 227

12.1.6      HUNTSMAN INTERNATIONAL LLC           228

12.1.6.1  Business overview 228

12.1.6.2  Products/Solutions/Services offered 229

12.1.6.3  Recent developments           230

12.1.6.3.1                Expansions             230

12.1.6.4  MnM view              230

12.1.6.4.1                Right to win           230

12.1.6.4.2                Strategic choices   231

12.1.6.4.3                Weaknesses and competitive threats 231

12.1.7      ALTANA AG        232

12.1.7.1  Business overview 232

12.1.7.2  Products/Solutions/Services offered 233

12.1.7.3  Recent developments           236

12.1.7.3.1                Deals      236

12.1.7.4  MnM view              236

12.1.8      KREMPEL GMBH               237

12.1.8.1  Business overview 237

12.1.8.2  Products/Solutions/Services offered 237

12.1.8.3  Recent developments           239

12.1.8.3.1                Deals      239

12.1.8.4  MnM view              239

12.1.9      PUCARO ELECTRICAL INSULATION GMBH          240

12.1.9.1  Business overview 240

12.1.9.2  Products/Solutions/Services offered 240

12.1.9.3  MnM view              241

12.1.10   KANSAI ALTAN 242

12.1.10.1                 Business overview 242

12.1.10.2                 Products/Solutions/Services offered 242

12.1.10.3                 MnM view              243

12.2         OTHER PLAYERS              244

12.2.1      ROYAL DIAMOND            244

12.2.2      ISOTEC 245

12.2.3      INDOKOTE         245

12.2.4      THE GUND COMPANY   246

12.2.5      HANGZHOU HECHENG INDUSTRIAL CO., LTD   247

12.2.6      GOVIK INDUSTRIES PRIVATE LIMITED  248

12.2.7      AXALTA COATING SYSTEMS, LLC             249

12.2.8      ZIGMA PAINTS  250

12.2.9      MG CHEMICALS                251

12.2.10   EPOXIES, ETC.   251

12.2.11   VON ROLL           252

12.2.12   TIKKURILA          253

12.2.13   MOMENTIVE     254

12.2.14   ORHUN KIMYA 255

12.2.15   WEATHER FIGHTER        256

13            APPENDIX           257

13.1         DISCUSSION GUIDE        257

13.2         KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL                260

13.3         CUSTOMIZATION OPTIONS        262

13.4         RELATED REPORTS         262

13.5         AUTHOR DETAILS           263

LIST OF TABLES

TABLE 1                LIST OF KEY SECONDARY SOURCES        30

TABLE 2                LIST OF STANDARDS AND REGULATIONS FOR DRY TRANSFORMER INSULATION           48

TABLE 3                DRY TRANSFORMER INSULATION MARKET: PORTER’S FIVE FORCES ANALYSIS           54

TABLE 4                INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE APPLICATIONS (%)  57

TABLE 5                KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 58

TABLE 6                TRENDS OF PER CAPITA GDP, BY COUNTRY, 2020–2023 (USD)                59

TABLE 7                GDP GROWTH ESTIMATES AND PROJECTIONS, BY COUNTRY, 2024–2027 (USD)  60

TABLE 8                NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 66

TABLE 9                ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 66

TABLE 10              EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS           67

TABLE 11              IMPORT SCENARIO FOR HS CODE 850434-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD MILLION)            68

TABLE 12              EXPORT SCENARIO FOR HS CODE 850434-COMPLIANT PRODUCTS, BY COUNTRY, 2020–2024 (USD MILLION)            69

TABLE 13              ROLE OF COMPANIES IN DRY TRANSFORMER INSULATION ECOSYSTEM            70

TABLE 14              DRY TRANSFORMER INSULATION MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2025–2026       75

TABLE 15              TOP 10 PATENT OWNERS DURING LAST 10 YEARS, 2015–2024               79

TABLE 16              SECTION 301 TARIFFS ON CHINESE IMPORTS                 83

TABLE 17              DRY TRANSFORMER INSULATION MARKET, BY TYPE 2022–2024 (USD MILLION) 87

TABLE 18              DRY TRANSFORMER INSULATION MARKET, BY TYPE, 2025–2030 (USD MILLION)                87

TABLE 19              DRY TRANSFORMER INSULATION MARKET, BY TYPE, 2022–2024 (KILOTON)        88

TABLE 20              DRY TRANSFORMER INSULATION MARKET, BY TYPE, 2025–2030 (KILOTON)        88

TABLE 21              DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2022–2024 (USD MILLION)            99

TABLE 22              DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2025–2030 (USD MILLION)            100

TABLE 23              DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2022–2024 (KILOTON)     100

TABLE 24              DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2025–2030 (KILOTON)     100

TABLE 25              DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            107

TABLE 26              DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            108

TABLE 27              DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     108

TABLE 28              DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     108

TABLE 29              DRY TRANSFORMER INSULATION MARKET, BY REGION,

2022–2024 (USD MILLION)            113

TABLE 30              DRY TRANSFORMER INSULATION MARKET, BY REGION,

2025–2030 (USD MILLION)            113

TABLE 31              DRY TRANSFORMER INSULATION MARKET, BY REGION, 2022–2024 (KILOTON)  113

TABLE 32              DRY TRANSFORMER INSULATION MARKET, BY REGION, 2025–2030 (KILOTON)  114

TABLE 33              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            115

TABLE 34              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            116

TABLE 35              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (KILOTON)     116

TABLE 36              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (KILOTON)     116

TABLE 37              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (USD MILLION)            117

TABLE 38              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (USD MILLION)            117

TABLE 39              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (KILOTON)     118

TABLE 40              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (KILOTON)     118

TABLE 41              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2022–2024 (USD MILLION)            119

TABLE 42              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2025–2030 (USD MILLION)            119

TABLE 43              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2022–2024 (KILOTON)                 119

TABLE 44              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2025–2030 (KILOTON)                 120

TABLE 45              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (USD MILLION)            120

TABLE 46              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            120

TABLE 47              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (KILOTON)                 121

TABLE 48              NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (KILOTON)                 121

TABLE 49              US: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            122

TABLE 50              US: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            122

TABLE 51              US: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     122

TABLE 52              US: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     122

TABLE 53              CANADA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            123

TABLE 54              CANADA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            123

TABLE 55              CANADA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     124

TABLE 56              CANADA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     124

TABLE 57              MEXICO: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            125

TABLE 58              MEXICO: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            125

TABLE 59              MEXICO: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     125

TABLE 60              MEXICO: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     125

TABLE 61              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            127

TABLE 62              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            128

TABLE 63              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (KILOTON)     128

TABLE 64              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (KILOTON)     128

TABLE 65              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (USD MILLION)            129

TABLE 66              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (USD MILLION)            129

TABLE 67              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (KILOTON)     130

TABLE 68              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (KILOTON)     130

TABLE 69              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2022–2024 (USD MILLION)            131

TABLE 70              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2025–2030 (USD MILLION)            131

TABLE 71              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2022–2024 (KILOTON)     131

TABLE 72              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2025–2030 (KILOTON)     132

TABLE 73              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            132

TABLE 74              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            132

TABLE 75              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     133

TABLE 76              EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     133

TABLE 77              GERMANY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            134

TABLE 78              GERMANY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            134

TABLE 79              GERMANY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     134

TABLE 80              GERMANY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     134

TABLE 81              FRANCE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            135

TABLE 82              FRANCE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            136

TABLE 83              FRANCE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     136

TABLE 84              FRANCE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     136

TABLE 85              UK: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            137

TABLE 86              UK: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            137

TABLE 87              UK: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     137

TABLE 88              UK: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     138

TABLE 89              ITALY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            138

TABLE 90              ITALY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            138

TABLE 91              ITALY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     139

TABLE 92              ITALY: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     139

TABLE 93              REST OF EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (USD MILLION)            139

TABLE 94              REST OF EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            140

TABLE 95              REST OF EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (KILOTON)                 140

TABLE 96              REST OF EUROPE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (KILOTON)                 140

TABLE 97              ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            142

TABLE 98              ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            143

TABLE 99              ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (KILOTON)     143

TABLE 100            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (KILOTON)     143

TABLE 101            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (USD MILLION)            144

TABLE 102            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (USD MILLION)          144

TABLE 103            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (KILOTON)     145

TABLE 104            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (KILOTON)     145

TABLE 105            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2022–2024 (USD MILLION)            146

TABLE 106            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2025–2030 (USD MILLION)            146

TABLE 107            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2022–2024 (KILOTON)     146

TABLE 108            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT,

2025–2030 (KILOTON)     147

TABLE 109            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            147

TABLE 110            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            147

TABLE 111            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     148

TABLE 112            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     148

TABLE 113            CHINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            149

TABLE 114            CHINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            149

TABLE 115            CHINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     149

TABLE 116            CHINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     150

TABLE 117            JAPAN: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            151

TABLE 118            JAPAN: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            151

TABLE 119            JAPAN: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     151

TABLE 120            JAPAN: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     151

TABLE 121            INDIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            152

TABLE 122            INDIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            153

TABLE 123            INDIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     153

TABLE 124            INDIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     153

TABLE 125            SOUTH KOREA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (USD MILLION)            154

TABLE 126            SOUTH KOREA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            154

TABLE 127            SOUTH KOREA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (KILOTON)                 154

TABLE 128            SOUTH KOREA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (KILOTON)                 155

TABLE 129            REST OF ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (USD MILLION)       155

TABLE 130            REST OF ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (USD MILLION)       156

TABLE 131            REST OF ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (KILOTON)                156

TABLE 132            REST OF ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (KILOTON)                156

TABLE 133            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY, 2022–2024 (USD MILLION)                 157

TABLE 134            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY, 2025–2030 (USD MILLION)                 157

TABLE 135            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY, 2022–2024 (KILOTON)                 158

TABLE 136            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY, 2025–2030 (KILOTON)                 158

TABLE 137            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE, 2022–2024 (USD MILLION)                 159

TABLE 138            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE, 2025–2030 (USD MILLION)                 159

TABLE 139            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE, 2022–2024 (KILOTON)  160

TABLE 140            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE, 2025–2030 (KILOTON)  160

TABLE 141            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY COMPONENT, 2022–2024 (USD MILLION)        161

TABLE 142            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY COMPONENT, 2025–2030 (USD MILLION)        161

TABLE 143            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY COMPONENT, 2022–2024 (KILOTON)                161

TABLE 144            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY COMPONENT, 2025–2030 (KILOTON)                162

TABLE 145            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (USD MILLION)       162

TABLE 146            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (USD MILLION)       162

TABLE 147            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (KILOTON)                163

TABLE 148            MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (KILOTON)                163

TABLE 149            GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (USD MILLION)            164

TABLE 150            GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            164

TABLE 151            GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (KILOTON)                 164

TABLE 152            GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (KILOTON)                 164

TABLE 153            SAUDI ARABIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (USD MILLION)            165

TABLE 154            SAUDI ARABIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            165

TABLE 155            SAUDI ARABIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (KILOTON)                 166

TABLE 156            SAUDI ARABIA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (KILOTON)                 166

TABLE 157            UAE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            167

TABLE 158            UAE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            167

TABLE 159            UAE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     167

TABLE 160            UAE: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     167

TABLE 161            REST OF GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (USD MILLION)       168

TABLE 162            REST OF GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (USD MILLION)       168

TABLE 163            REST OF GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (KILOTON)                169

TABLE 164            REST OF GCC COUNTRIES: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (KILOTON)                169

TABLE 165            REST OF MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (USD MILLION)       170

TABLE 166            REST OF MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (USD MILLION)       170

TABLE 167            REST OF MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (KILOTON)                170

TABLE 168            REST OF MIDDLE EAST & AFRICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (KILOTON)              170

TABLE 169            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (USD MILLION)            171

TABLE 170            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (USD MILLION)            171

TABLE 171            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2022–2024 (KILOTON)     172

TABLE 172            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COUNTRY,

2025–2030 (KILOTON)     172

TABLE 173            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (USD MILLION)            172

TABLE 174            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (USD MILLION)            173

TABLE 175            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2022–2024 (KILOTON)     173

TABLE 176            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY TYPE,

2025–2030 (KILOTON)     174

TABLE 177            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2022–2024 (USD MILLION)            174

TABLE 178            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2025–2030 (USD MILLION)            175

TABLE 179            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2022–2024 (KILOTON)                 175

TABLE 180            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY COMPONENT, 2025–2030 (KILOTON)                 175

TABLE 181            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (USD MILLION)            176

TABLE 182            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (USD MILLION)            176

TABLE 183            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2022–2024 (KILOTON)                 176

TABLE 184            SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION, 2025–2030 (KILOTON)                 176

TABLE 185            BRAZIL: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            177

TABLE 186            BRAZIL: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            177

TABLE 187            BRAZIL: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     178

TABLE 188            BRAZIL: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     178

TABLE 189            ARGENTINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (USD MILLION)            178

TABLE 190            ARGENTINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (USD MILLION)            179

TABLE 191            ARGENTINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2022–2024 (KILOTON)     179

TABLE 192            ARGENTINA: DRY TRANSFORMER INSULATION MARKET, BY APPLICATION,

2025–2030 (KILOTON)     179

TABLE 193            REST OF SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (USD MILLION)       180

TABLE 194            REST OF SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (USD MILLION)       180

TABLE 195            REST OF SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2022–2024 (KILOTON)                180

TABLE 196            REST OF SOUTH AMERICA: DRY TRANSFORMER INSULATION MARKET,

BY APPLICATION, 2025–2030 (KILOTON)                180

TABLE 197            OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS IN DRY TRANSFORMER INSULATION MARKET BETWEEN 2023 AND 2025               181

TABLE 198            DRY TRANSFORMER INSULATION MARKET: DEGREE OF COMPETITION         185

TABLE 199            DRY TRANSFORMER INSULATION MARKET: REGION FOOTPRINT     192

TABLE 200            DRY TRANSFORMER INSULATION MARKET: TYPE FOOTPRINT            193

TABLE 201            DRY TRANSFORMER INSULATION MARKET: COMPONENT FOOTPRINT          193

TABLE 202            DRY TRANSFORMER INSULATION MARKET: APPLICATION FOOTPRINT         194

TABLE 203            DRY TRANSFORMER INSULATION MARKET: KEY STARTUPS/SMES              197

TABLE 204            DRY TRANSFORMER INSULATION MARKET: COMPETITIVE

BENCHMARKING OF STARTUPS/SMES   198

TABLE 205            DRY TRANSFORMER INSULATION MARKET: OTHER DEVELOPMENTS, JANUARY 2023–MAY 2025          199

TABLE 206            DRY TRANSFORMER INSULATION MARKET: PRODUCT LAUNCHES,

JANUARY 2023–MAY 2025               199

TABLE 207            DRY TRANSFORMER INSULATION MARKET: DEALS, JANUARY 2023–MAY 2025                200

TABLE 208            DRY TRANSFORMER INSULATION MARKET: EXPANSIONS,

JANUARY 2023–MAY 2025               202

TABLE 209            3M: COMPANY OVERVIEW           204

TABLE 210            3M: PRODUCTS /SOLUTIONS/SERVICES OFFERED             205

TABLE 211            THE SHERWIN-WILLIAMS COMPANY: COMPANY OVERVIEW          209

TABLE 212            THE SHERWIN WILLIAMS COMPANY: PRODUCTS /SOLUTIONS/SERVICES OFFERED   210

TABLE 213            THE SHERWIN-WILLIAMS COMPANY: DEALS, JANUARY 2023–MAY 2025               211

TABLE 214            PPG INDUSTRIES, INC.: COMPANY OVERVIEW                 213

TABLE 215            PPG INDUSTRIES, INC.: PRODUCTS /SOLUTIONS/SERVICES OFFERED            214

TABLE 216            PPG INDUSTRIES, INC.: PRODUCT LAUNCHES, JANUARY 2023–MAY 2025               216

TABLE 217            PPG INDUSTRIES, INC.: EXPANSIONS, JANUARY 2023–MAY 2025   216

TABLE 218            PPG INDUSTRIES, INC.: OTHERS, JANUARY 2023–MAY 2025              217

TABLE 219            DUPONT: COMPANY OVERVIEW               219

TABLE 220            DUPONT: PRODUCTS/SOLUTIONS/SERVICES OFFERED             220

TABLE 221            DUPONT: OTHERS, JANUARY 2023–MAY 2025                 221

TABLE 222            WEG: COMPANY OVERVIEW       223

TABLE 223            WEG: PRODUCTS/SOLUTIONS/SERVICES OFFERED             224

TABLE 224            WEG: DEALS, JANUARY 2023–MAY 2025   225

TABLE 225            WEG: EXPANSIONS, JANUARY 2023–MAY 2025                 226

TABLE 226            HUNTSMAN INTERNATIONAL LLC: COMPANY OVERVIEW          228

TABLE 227            HUNTSMAN INTERNATIONAL LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED    229

TABLE 228            HUNTSMAN INTERNATIONAL LLC: EXPANSIONS, JANUARY 2023–MAY 2025  230

TABLE 229            ALTANA AG: COMPANY OVERVIEW         232

TABLE 230            ALTANA AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED    233

TABLE 231            ALTANA AG: DEALS, JANUARY 2023–MAY 2025                 236

TABLE 232            KREMPEL GMBH: COMPANY OVERVIEW                 237

TABLE 233            KREMPEL GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERED    237

TABLE 234            KREMPEL GMBH: DEALS, JANUARY 2023–MAY 2025        239

TABLE 235            PUCARO ELECTRICAL INSULATION GMBH: COMPANY OVERVIEW   240

TABLE 236            PUCARO ELECTRICAL INSULATION GMBH:

PRODUCTS/SOLUTIONS/SERVICES OFFERED    240

TABLE 237            KANSAI ALTAN: COMPANY OVERVIEW  242

TABLE 238            KANSAI ALTAN: PRODUCTS/SOLUTIONS/SERVICES OFFERED    242

TABLE 239            ROYAL DIAMOND: COMPANY OVERVIEW                 244

TABLE 240            ISOTEC: COMPANY OVERVIEW 245

TABLE 241            INDOKOTE: COMPANY OVERVIEW          245

TABLE 242            THE GUND COMPANY: COMPANY OVERVIEW                 246

TABLE 243            HANGZHOU HECHENG INDUSTRIAL CO.,LTD: COMPANY OVERVIEW   247

TABLE 244            GOVIK INDUSTRIES PRIVATE LIMITED: COMPANY OVERVIEW   248

TABLE 245            AXALTA COATING SYSTEMS, LLC: COMPANY OVERVIEW          249

TABLE 246            ZIGMA PAINTS: COMPANY OVERVIEW  250

TABLE 247            MG CHEMICALS: COMPANY OVERVIEW 251

TABLE 248            EPOXIES, ETC.: COMPANY OVERVIEW    251

TABLE 249            VON ROLL: COMPANY OVERVIEW           252

TABLE 250            TIKKURILA : COMPANY OVERVIEW         253

TABLE 251            MOMENTIVE: COMPANY OVERVIEW      254

TABLE 252            ORHUN KIMYA: COMPANY OVERVIEW  255

TABLE 253            WEATHER FIGHTER: COMPANY OVERVIEW                 256

LIST OF FIGURES

FIGURE 1              DRY TRANSFORMER INSULATION MARKET SEGMENTATION AND REGIONAL SCOPE              26

FIGURE 2              DRY TRANSFORMER INSULATION MARKET: RESEARCH DESIGN         29

FIGURE 3              DRY TRANSFORMER INSULATION MARKET: BOTTOM-UP APPROACH              34

FIGURE 4              DRY TRANSFORMER INSULATION MARKET: TOP-DOWN APPROACH                34

FIGURE 5              MARKET SIZE ESTIMATION: TOP-DOWN APPROACH         35

FIGURE 6              DEMAND-SIDE FORECAST PROJECTIONS                 35

FIGURE 7              DRY TRANSFORMER INSULATION MARKET: DATA TRIANGULATION                36

FIGURE 8              SOLID INSULATORS SEGMENT TO LEAD DRY TRANSFORMER

INSULATION MARKET DURING FORECAST PERIOD        40

FIGURE 9              WINDINGS COMPONENT SEGMENT TO DOMINATE MARKET

DURING FORECAST PERIOD       41

FIGURE 10            INDUSTRIAL APPLICATION TO LEAD DRY TRANSFORMER INSULATION MARKET DURING FORECAST PERIOD                41

FIGURE 11            ASIA PACIFIC TO BE FASTEST-GROWING REGION DURING FORECAST PERIOD     42

FIGURE 12            ASIA PACIFIC TO OFFER ATTRACTIVE OPPORTUNITIES DURING FORECAST PERIOD   43

FIGURE 13            SOLID INSULATORS SEGMENT TO LEAD MARKET DURING FORECAST PERIOD    43

FIGURE 14            WINDINGS SEGMENT TO HOLD MAJORITY SHARE DURING FORECAST PERIOD        44

FIGURE 15            INDUSTRIAL SEGMENT TO LEAD MARKET DURING FORECAST PERIOD       44

FIGURE 16            CHINA TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD         45

FIGURE 17            DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN

DRY TRANSFORMER INSULATION MARKET         46

FIGURE 18            DRY TRANSFORMER INSULATION MARKET: PORTER’S FIVE FORCES ANALYSIS           54

FIGURE 19            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS

FOR TOP THREE APPLICATIONS               57

FIGURE 20            KEY BUYING CRITERIA FOR TOP THREE APPLICATIONS 58

FIGURE 21            DRY TRANSFORMER INSULATION MARKET: VALUE CHAIN ANALYSIS               61

FIGURE 22            IMPORT DATA FOR HS CODE 850434-COMPLIANT PRODUCTS, BY KEY COUNTRY, 2020–2024 (USD MILLION)            68

FIGURE 23            EXPORT DATA RELATED TO HS CODE 850434-COMPLIANT PRODUCTS, BY KEY COUNTRY, 2020–2024 (USD MILLION)            69

FIGURE 24            DRY TRANSFORMER INSULATION MARKET: ECOSYSTEM ANALYSIS  70

FIGURE 25            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS IN DRY TRANSFORMER INSULATION MARKET               71

FIGURE 26            DRY TRANSFORMER INSULATION MARKET: GRANTED PATENTS, 2015–2024  76

FIGURE 28            LEGAL STATUS OF PATENTS, 2015–2024 77

FIGURE 29            TOP JURISDICTION, BY DOCUMENT, 2015–2024                 78

FIGURE 30            TOP 10 PATENT APPLICANTS, 2015–2024                 79

FIGURE 31            AVERAGE SELLING PRICE, BY REGION, 2022–2024 (USD/KG)  81

FIGURE 32            AVERAGE SELLING PRICE OF KEY PLAYERS, BY APPLICATION, 2024 (USD/KG)   81

FIGURE 33            AVERAGE SELLING PRICE TREND, BY TYPE, 2022–2024 (USD/KG)        82

FIGURE 34            SOLID INSULATORS TO BE LARGER TYPE DURING FORECAST PERIOD       86

FIGURE 35            WINDINGS COMPONENT TO DOMINATE DRY TRANSFORMER

INSULATION MARKET DURING FORECAST PERIOD        99

FIGURE 36            INDUSTRIAL APPLICATION TO DOMINATE DRY TRANSFORMER INSULATION MARKET DURING FORECAST PERIOD                107

FIGURE 37            CHINA TO BE FASTEST-GROWING MARKET FOR DRY TRANSFORMER INSULATION DURING FORECAST PERIOD                 112

FIGURE 38            NORTH AMERICA: DRY TRANSFORMER INSULATION MARKET SNAPSHOT           115

FIGURE 39            EUROPE: DRY TRANSFORMER INSULATION MARKET SNAPSHOT       127

FIGURE 40            ASIA PACIFIC: DRY TRANSFORMER INSULATION MARKET SNAPSHOT       142

FIGURE 41            REVENUE ANALYSIS OF KEY COMPANIES IN DRY TRANSFORMER INSULATION MARKET, 2020–2024              184

FIGURE 42            SHARES OF TOP FIVE COMPANIES IN DRY

TRANSFORMER INSULATION MARKET, 2024        185

FIGURE 43            VALUATION OF KEY COMPANIES IN DRY

TRANSFORMER INSULATION MARKET, 2024        187

FIGURE 44            FINANCIAL METRICS OF KEY COMPANIES IN

DRY TRANSFORMER INSULATION MARKET, 2024               188

FIGURE 45            DRY TRANSFORMER INSULATION MARKET: BRAND/PRODUCT COMPARISON             189

FIGURE 46            DRY TRANSFORMER INSULATION MARKET:

COMPANY EVALUATION MATRIX (KEY PLAYERS), 2024  191

FIGURE 47            DRY TRANSFORMER INSULATION MARKET: COMPANY FOOTPRINT 192

FIGURE 48            DRY TRANSFORMER INSULATION MARKET:

COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2024                 196

FIGURE 49            3M: COMPANY SNAPSHOT           205

FIGURE 50            THE SHERWIN-WILLIAMS COMPANY: COMPANY SNAPSHOT          209

FIGURE 51            PPG INDUSTRIES, INC.: COMPANY SNAPSHOT                 214

FIGURE 52            DUPONT: COMPANY SNAPSHOT              220

FIGURE 53            WEG: COMPANY SNAPSHOT       224

FIGURE 54            HUNTSMAN INTERNATIONAL LLC: COMPANY SNAPSHOT          229

FIGURE 55            ALTANA AG: COMPANY SNAPSHOT         233