The electrotechnical paper market is poised to expand at a value CAGR of close to 5%, and is expected to create an absolute dollar opportunity of US$ 550 Mn over the forecast duration of 2020-2030. The outbreak of COVID-19 will have a short-term impact on the electrotechnical paper market.
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However, reliability of electric power is critical to a nation’s economic vitality, as power failures can lead to large potential economic loss. Therefore, growth in demand for reliable delivery of electric power is boosting investments, which is expected to supplement the growth of the electrotechnical paper market.
Moreover, shift from coal to natural gas-powered generation is resulting in significant investments to upgrade and improve transmission infrastructure and ensure grid reliability. Further, tightening environmental regulations have resulted in decline in development of coal-fired generation plants.
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Therefore, upgradation of grid infrastructure will continue to drive investments, as the shift becomes more pronounced over the forecast period. This transition is expected to drive growth of the electrotechnical paper market over the coming years.
Key Takeaways from Electrotechnical Paper Market Study
- By application, transformers are foreseen to grow 2.5X than motors in 2020. On the other hand, cables will account for 1/4 of the overall market share in 2020.
- By product, diamond dotted presspaper is anticipated to grow, gaining 156 BPS over the course of the forecast duration.
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- By end use, aftermarket (replacement) is projected to account for 77% of the total sales in 2020, anticipated to create an absolute $ opportunity of more than US$ 415 Mn during the forecast period of 2020-2030.
- The electrotechnical paper market in Europe is expected to grow by experiencing a value CAGR of 5%, whereas North America is projected to be valued1.4X than South Asia & Oceania, and estimated to account for a major chunk of the demand pie by the end of the forecast period.
“The COVID-19 pandemic has hit market players and will have short-term implications on the electrotechnical paper market. However, aging and inadequate transmission and distribution infrastructure has necessitated the need for replacement, which is foreseen to drive the sales of electrotechnical paper. Further, rising adoption of eco-efficient transformers is anticipated to generate significant growth opportunities for players in the electrotechnical paper market,” says a Fact.MR analyst.
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Key Players Focusing on Strategic Agreements to Stimulate Growth
The report reveals some of the prominent players in the electrotechnical paper market, including Ahlstrom-MunksjöOyj, 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, and Miki Tokushu Paper MFG. CO., Ltd, among others.
- In 2020, Ahlstrom-Munksjö signed a multi-year commercial agreement with Suominen. With this agreement, both companies will better serve the market place and improve customer satisfaction for their products in Sweden.
- In 2019, Hitachi ABB Power Grids entered into an agreement with Amprion GmbH and received an order worth around US$ 30 million. The company will provide high-performance phase-shifting transformers to better control integrating of offshore wind power into electricity grids, which will also offer savings of US$ 110 Mn over 3 years.
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