Research and Markets releases report on transformer oil market

Research and Markets has announced the addition of the “Transformer Oil Market: By Types (Mineral Oil – Naphthenic & Paraffinic, Silicone and Bio-based), Applications (Small & Large Transformers, Utility) & Geography – Global Industry Trends & Forecast to 2017” report to its offerings.
Transformer oil is a dielectric fluid mainly used in oil-filled electrical transformers as an insulating and cooling medium. It is usually obtained by fractional distillation and subsequent processing of crude oil. The primary purpose of transformer oil is to insulate and cool transformer windings and core. These also protect the core and winding against oxidation.
Three basic types of transformer oil used are mineral oil (mostly naphthenic), silicone and bio-based. Mineral oil based transformer oils dominate consumption as it has good electrical and cooling properties, and provides a cost-effective solution.
This report segments the market based on geography (Asia-Pacific, North America, Europe, ROW); types (mineral oil-naphthenic and paraffinic, silicone, and bio-based); and applications (small transformers, large transformers, and utility), and provides market forecast in terms of consumption (thousand liters) and revenue ($ million) for the aforesaid segments.
The global transformer oil market revenue is estimated to reach US$2.46 billion by 2017. Major factors responsible for market growth include increasing power requirements in developing regions, rising investments, expansion of electricity grids in developed regions and growing use of renewable energy resources. A key concern in the industry is the corrosive nature of sulfur present in transformer oil and the flammable nature of mineral oil based transformer oils.
An increasing frequency of fire accidents in mineral oil based transformers and its non-biodegradable nature has led to an increasing consumption of bio-based transformer oils, which are incombustible and non-toxic in nature as well as easily biodegradable. The industry is observing a high rate in the adoption of bio-based transformer oil due to these factors; lately its growing preference is also observed globally due to its higher dielectric strength and flash point and lower pour point.
Bio-based transformer oil is being used in a large number of transformers mainly in North America. Bio-based transformer oil is 99% degraded in 21 days. The consumption of bio-based oils is expected to increase at a promising rate in the future.
The report classifies and defines the consumption of transformer oils in the electrical equipment industry. It covers qualitative data about transformer oil properties and its functions. The report also provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives and key issues. Key players of the industry are profiled in detail, including their strategic initiatives. Some of these include Nynas (Sweden), Ergon (U.S.), PetroChina (China), Calumet (U.S.) and San Joaquin Refining (U.S.).
(April 8, 2013)