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Transformer Oil Market 2020 Growth Overview by Top Key Players-Nynas AB, Ergon, Inc., PetroChina Company Limited, Apar Industries Limited, Calumet Specialty Products Partners,

04-01-2020 05:23 PM CET | Energy & Environment

Press release from: Allied Market Research

Transformer Oil Market 2020 Growth Overview by Top Key

According to a new report published by Allied Market Research titled, "Transformer Oil Market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2014-2020," the transformer oil market sales to reach $3.4 billion by 2020, with the mineral oil-based transformer oil segment to maintain its dominance until 2020. In 2014, the consumption of transformer oils was 1,437.8 million litres across the globe, which is expected to increase at 6.3% from 2015 to 2020.

Mineral oil-based transformer oil dominates the market while bio-based is projected to be the fastest growing segment. Bio-based transformer oil has emerged as an alternative for crude oil-based transformer oil, owing to its biodegradability, high dielectric strength, and low toxic risk & less carbon foot prints. Silicone transformer oil is the second fastest growing segment caused by its increasing demand as a fire safe and eco-friendly alternative to traditional transformer oil.

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Transformer oils are electrical insulating oils stable at high temperature, which serves two important functions in a transformer, viz., suppression of arcing and dissipation of heat generated in the transformer. The ability of transformer oil to fulfil these functions are chiefly responsible for its adoption, and thus drives the market growth. Other important factors stimulating its growth include electrification of rural areas, expansion of power grids and increasing investment in the power sector.

Key findings of the study
o Mineral oil-based transformers segment accounted for more than 90% of the market in 2015 and is expected to maintain this trend until 2020.
o LAMEA is anticipated to be the fastest growing regional market with a CAGR of 7.4% during the forecast period.
o Bio-oil based transformers segment is expected to register the highest CAGR of 12.4% from 2015 to 2020.
o In the mineral-oil based transformers market, paraffinic based oil contributed three-fifths share of the market.
o The U.S. accounts for the largest share in the North America transformer oil market.

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The transformer oil market analysis covers in depth information of major industry participants. The major companies profiled in the report include Nynas AB, Ergon, Inc., PetroChina Company Limited, Apar Industries Limited, Calumet Specialty Products Partners, L.P., Sinopec Corporation, Hydrodec Group Plc, Cargill Incorporated, Engen Petroleum Limited, Valvoline, San Joaquin Refining Co., Inc., and Gandhar Oil Refinery India Limited.

Asia-Pacific is expected to maintain its dominance through 2020, due to increasing demand for electricity in densely populated countries such as India and China, expansion of grid infrastructure and increasing investments in the power sector. China dominates the Asia-Pacific transformer oil market followed by India owing to the high demand for transformer oil in power transmission infrastructure. Russia and Germany are the largest consumers of transformer oil in the European market.

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About Us:
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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