Dublin, Oct. 10, 2013 (GLOBE NEWSWIRE) -- Research and Markets
(http://www.researchandmarkets.com/research/ctsq36/transformer_oil) has announced the addition of "The Transformer Oil Market" report to their offering.
The global transformer oil market revenue is estimated to reach $2.46 billion by 2017. Major factors responsible for market growth include increasing power requirements in developing regions, rising investments, enlargement of electricity grids in developed regions and rising transition towards renewable energy resources. The key concerns in the industry pertain to the corrosive nature of sulfur present in transformer oil and flammable nature of mineral oil based transformer oils. Transformer manufacturers have started using bio-based oil which has higher dielectric strength and flash point, and lower pour point.
This report segments the market based on geography (Asia-Pacific, North America, Europe, ROW); types (mineral oil-naphthenic and paraffinic, silicone, and bio-based); and applications (small transformers, large transformers, and utility), and provides market forecast in terms of consumption (thousand liters) and revenue ($million) for aforesaid segments.
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 burning issues in the market. Key players of the industry are profiled in detail with their recent developments and other strategic initiatives. Some of these include Nynas (Sweden), Ergon (U.S.), PetroChina (China), Calumet (U.S.), and San Joaquin Refining (U.S.).
RISING CONSUMPTION OF BIO-BASED TRANSFORMER OILS
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. The industry is observing a high rate in adoption of bio-based transformer oil due to these aspects; lately its growing preference is also observed globally.
Bio-based transformer oil is being used in large number of transformers mainly in the North American region due to its excellent insulating and biodegradable nature of the oil. Other attributes leading to high acceptability have been better performance and economic advantage over mineral oil-based transformer oils. Bio-based oils have high fire point, provides increased service life to transformer, and very low cost for spill remediation due to high biodegradability. Bio-based transformer oil is 99% degraded in 21 days. The consumption of bio-based oils is expected to increase at promising rate in the future. Hence, use of bio-based oils as insulating and cooling medium is expected to increase in the next five years.
SCOPE OF THE REPORT
The report analyzed global market in terms of consumption (thousand liters) and revenue ($million) for the aforesaid transformer oil types by regions and respective major countries; and applications.
- North America
- Mineral oil
- Small transformers
- Large transformers
- Apar Industries Ltd
- Calumet Specialty Products Partners L.P.
- Cargill Incorporated
- Dow Corning Corporation
- Electrical Oil Services Ltd
- Engen Petroleum Ltd
- Ergon Inc.
- Exxonmobil Corporation
- Gulf Oil Middle East Limited
- Hydrodec Group Plc
- Martin Midstream Partners L.P.
- M&I Materials Ltd
- Nynas Ab
- Petro-Canada Lubricants Inc.
- Petrochina Lubricating Oil Company
- Phillips 66
- Royal Dutch Shell Plc
- San Joaquin Refining Co.
- Sinopec Corp.
For more information visit http://www.researchandmarkets.com/research/ctsq36/transformer_oil
Source:Research and Markets