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Transformer Oil Market 2019 Global Key Players – Nynas AB, Ergon, Petro China, Sinopec - Analysis and Forecast to 2022
Transformer Oil Market 2019
Transformer oil also known as dielectric insulating oil. It is obtained by subsequent treatment of crude oil or by fractional distillation. Basically, transformer oil is used as a coolant and as electric insulation in electric transformers. Additionally, it aids to preserve the core and winding, fully immersed inside oil and also prevents direct contact of atmospheric oxygen with cellulose made paper insulation of windings, which is susceptible to oxidation. According to MRFR analysis, the global Transformer oil market was valued at USD 2,100 million in 2015 and is expected to be valued at USD 3641.1 million by the end of 2022, expanding at a CAGR of 8.29 %. Based on type, global transformer oil market is segmented as naphthenic oil, paraffinic oil, bio based oil, and silicone oil. The global transformer oil market is dominated by mineral oil forms namely, naphthenic and paraffinic, which accounts for 90.0% of the overall market. Owing to easy availability of naphthenic oil, it is estimated to retain its dominance through the forecast period. However, prominent trends in the market such as increasing environmental concerns and increasing stringent regulations regarding fire safety are anticipated to boost market demand for bio based and silicone oil over the forecast period. Transformer oil is a dielectric oil used as coolant in various types of transformers. The global transformer oil market is segmented on the basis of application as large transformers (>200 MVA), small transformers (
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