Global Core Plate Varnishes Market Size to Exceed USD 15.67 Billion by 2035 | CAGR of 6.7%

Global Core Plate Varnishes Market Size to Exceed USD 15.67 Billion by 2035 

According to a research report published by Spherical Insights & Consulting, The Global Core Plate Varnishes Market size is expected to grow from USD 7.68 billion in 2024 to USD 15.67 billion by 2035, at a CAGR of 6.7% during the forecast period 2025-2035.

Browse 210 Market Data Tables And 45 Figures Spread Through 190 Pages and In-Depth TOC On the "The Global Core Plate Varnishes Market Size, Share, and COVID-19 Impact Analysis, By Material (Alkyd Phenolic Core Plate Varnishes, Polyurethane Core Plate Varnishes, Polyester Core Plate Varnishes, and Others), By Type (Pigmented, Un-pigmented, and Others), By Application (Motor, Generator, Transformer, Electromagnetic Poles, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035. ''Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/core-plate-varnishes-market         

The Core Plate Varnish Market involves coatings applied to steel laminations to provide insulation, corrosion protection, and structural stability, enhancing device efficiency and longevity. Widely used in transformers, electric motors, generators, and other power equipment, the market is driven by growing demand for high-performance insulation in renewable energy, power generation, automotive, and industrial sectors. Technological advancements in resin formulations, including epoxy, polyester, and polyurethane, boost thermal resistance, durability, and overall energy efficiency. Opportunities exist in producing eco-friendly, low-VOC varnishes that meet stringent environmental regulations. Market growth is further supported by global infrastructure expansion, increased motor and transformer production, and the adoption of automated renewable energy projects. The core plate varnishes market is constrained by expensive raw materials, resin price volatility, and strict VOC regulations.

The alkyd phenolic Core Plate Varnishes segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.

Based on the material, the core plate varnishes market is divided into alkyd phenolic core plate varnishes, polyurethane core plate varnishes, polyester core plate varnishes, and others. Among these, the alkyd phenolic core plate varnishes segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Core plate varnishes offer superior electrical insulation, high thermal resistance, and strong metal adhesion, making them cost-effective and versatile, widely applied in electrical machinery across multiple substrate types.

The un-pigmented segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.

Based on the type, the core plate varnishes market is divided into pigmented, un-pigmented, and others. Among these, the un-pigmented segment accounted for the largest share in 2024 and is anticipated to grow at a significant CAGR during the forecast period. These varnishes provide excellent clarity, preserve electromagnetic performance, and suit applications requiring transparent insulation, making them ideal for high-speed motor windings and transformer components.

The transformer segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the application, the core plate varnishes market is divided into motor, generator, transformer, electromagnetic poles, and others. Among these, the transformer segment accounted for the highest market revenue in 2024 and is anticipated to grow at a significant CAGR during the forecast period. Rising transformer use in renewable energy, urban grids, and industry, along with infrastructure upgrades and electrification, drives demand for varnishes offering high thermal endurance and mechanical stability for reliable operation.

Asia Pacific is expected to hold the majority share of the global core plate varnishes market during the forecast period.

Asia Pacific is expected to hold the majority share of the global core plate varnishes market during the forecast period. Rising investments in power generation, renewable energy, and urban infrastructure fuel transformer and motor production, increasing varnish demand. Combined with growing use of insulating materials, government energy-efficiency initiatives, and the Asia Pacific’s large consumer base and low production costs, market growth is accelerated.

North America is anticipated to grow at the fastest pace in the global core plate varnishes market during the forecast period. Market growth is fueled by increasing demand for energy-efficient transformers and motors, stringent insulation and VOC standards, and infrastructure upgrades, while advancements in varnish formulations, production technologies, and the adoption of electric vehicles and industrial automation support further expansion.

Major vendors in the global core plate varnishes market are PPG Industries, Sherwin-Williams, Mader, AkzoNobel, Helios Group, Toyo Ink, AEV Ltd, Kansai Paint, Rembrandtin, ALTANA, Bakelite Hylam Limited, Axalta Coating Systems, Hitachi Chemical Co. Ltd, Sichuan Dongfang Insulating Material, and Others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Key Market Development 

• In March 2025, Sherwin-Williams Protective & Marine expanded its Global Core product line, delivering consistent quality and performance worldwide, ensuring compatibility, color matching, and specification efficiency, giving engineers, asset owners, and applicators confidence across multi-region projects.
•  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the core plate varnishes market based on the below-mentioned segments:

Global Core Plate Varnishes Market, By Material

• Alkyd Phenolic Core Plate Varnishes
• Polyurethane Core Plate Varnishes
• Polyester Core Plate Varnishes
• Others

Global Core Plate Varnishes Market, By Type

• Pigmented
• Un-pigmented
• Others

Global Core Plate Varnishes Market, By Application

• Motor
• Generator
• Transformer
• Electromagnetic Poles
• Others

 Global Core Plate Varnishes Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.  

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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