The global core plate varnish industry refers to coatings used on steel laminations to offer insulation, protect against corrosion, and boost stability, thereby enhancing the efficiency and durability of devices. These varnishes are extensively utilized in transformers, electric motors, generators and various other power equipment to guarantee energy efficiency and minimize losses. The market expansion is mainly fueled by increasing demand for insulation solutions across the renewable energy, power generation and industrial sectors alongside advancements in resin technologies such as epoxy, polyester and polyurethane.