What are the market trends for the Transformer Oil market?

This transformer oil is mainly a derivative of mineral oils, but substitute composition with better chemical and physical properties. Transformer oil has several properties such as high resistivity, thermal conductivity, minimum power loss, excellent di-electricity, chemical stability, and among others. The factors that propel the growth of the Transformer Oil industry include increasing electric demand in emerging countries such as Brazil, South Africa, and India; which are anticipated to develop their grid infrastructure to increase the availability of electricity to the population.

Download Free Sample  - https://www.millioninsights.com/industry-reports/transformer-oil-market/request-sample

On the other hand, there are factors that may hamper the growth of the market including strict environmental laws and shift towards organic oils, and the transition towards renewable sources of energy. Transformer Oil Market is anticipated to grow at a significant CAGR of 11.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe.

Transformer Oil may be explored by product type, application, end users, and geography. Transformer Oil may be explored by product type as Mineral-based Oils, (Paraffinic Base Oils, Naphthenic Base Oils), Bio-based oils, and Silicone-based oils. The “Mineral-based Transformer Oil” segment surpassed the Transformer Oil industry in 2016 and is anticipated to maintain its dominance by 2025 owing to superior operational advantages, and environmental benefits.

The key applications that could be explored in the Transformer Oil Market include Utility Transformer Oils, Large-scale Transformers, and Small-scale Transformers. The “Small- scale Transformer” segment surpassed the Transformer Oil industry in 2016 and is anticipated to maintain its dominance by 2025 owing to growing electrification and urbanization of rural areas, several government initiatives to expand the power infrastructure, particularly in emerging economies such as Latin America, Africa, and Asia-Pacific. Transformer Oil may be explored by end users as chemicals and automotive.

Asia-Pacific accounted for the major share of the Transformer Oil Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include expansion of electric grids, increasing power requirements, and increasing requirement to transform & upgrade existing electricity supply organizations in emerging nations such as Vietnam, India, Indonesia and Thailand.