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Transformer Oil Market Segmentation and Major key Players Analysis 2025

Rural electrification in emerging economies and expanding manufacturing sites have driven energy needs and boosted transformers growth, subsequently contributing to oils demand in recent years.

The Global Transformer Oil Market is expected to reach USD 4.05 billion by 2025, according to a new report by Grand View Research, Inc.


These products possess excellent insulative and electrical properties, oxidative stability and controlled low or negative gassing tendency. Crude oil is the major raw material, leading to price volatility owing to supply fluctuation in the global market. Political instability and crashing crude prices have driven industry growth in recent years, as consumers are opting for bulk volume purchases.

Technological advancements and increasing R&D initiatives by prominent industry players have also contributed to market expansion in recent years. Cargill is one such innovator, which was even awarded the Presidential Green Chemistry Challenge Award by the U.S. Environmental Protection Agency (EPA) for the development of Envirotemp FR3 transformer oils from natural esters.

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Mineral-based products dominated the market in 2016, accounting for over 82% of the volume share. The highest contribution was observed from the paraffinic base sub-segment. These products are available on a global scale and are compatible with most electrical equipment. However, bio-based products are expected to grow at a rapid pace owing to increasing awareness regarding sustainability and recyclability.

Top Players of Transformer Oil Market:

Major players include BASF SE, Dairen Chemical Corporation, Nynas AB, Ergon Inc., Valvoline, PetroChina Company Ltd, Sinopec Corporation and Cargill Inc.

Market Segmentation of Transformer Oil Market:

The Global Transformer Oil Market segmented on the basis of Product, Application, and Region.

By Product:

    Mineral-based Oils
        Naphthenic Base Oils
        Paraffinic Base Oils
    Silicone-based oils
    Bio-based oils

By Application:

    Small-scale Transformers
    Large-scale Transformers
    Utility Transformer Oils

By Region:

    North America
    Europe
    Asia Pacific
    Latin America
    Middle East & Africa

Inquire about Transformer Oil Market with Our Experts @ https://www.grandviewresearch.com/inquiry/4362
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