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Transformer Oil Market Analysis 2021: Industry Overview, Growth, Trends, Opportunities and Forecast Till 2026

According to IMARC Group’s latest report, titled Transformer Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market reached a value of US$ 1.5 Billion in 2020. Transformer oil, also known as insulating oil, is used in electrical power transformers. It has excellent electrical insulating properties, thermal conductivity, dielectric strength, and chemical stability and is stable at high temperatures. The oil prevents oxidation of the cellulose-based paper insulation by acting as a barrier between oxygen and cellulose. It is extensively used to preserve the transformer’s windings and core and is largely deployed in high-voltage capacitors and switches, circuit breakers, and fluorescent lamp ballasts.

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Rising consumption of electricity represents one of the key factors driving the global transformer oil market growth. This has resulted in the widespread transmission and distribution of electricity across both the developed and developing region, thus providing an impetus to the market growth. Moreover, the rising need for uninterrupted power supply and significant investments for the modernization of existing power grids are contributing to the market growth. Other factors, such as the rapid industrialization and the continual launch of organic product variants, due to the growing environmental consciousness, are creating a positive outlook for the market. Looking forward, IMARC Group expects the global transformer oil market to grow at a CAGR of 11.5% during 2021-2026.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Competitive Landscape with Key Players:

  • Calumet Specialty Products
  • Cargill
  • Engen Petroleum
  • Ergon Inc.
  • Eden Oils
  • Hydrodec Group
  • Nynas
  • PetroChina
  • San Joaquin Refining Co. Inc.
  • Sinopec
  • Valvoline

Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global transformer oil market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on type, function, end-use and application.


  • Napthenic Oil
  • Paraffinic Oil
  • Silicone-Based
  • Bio-Based
  • Others

Based on the type, the market has been segmented into naphthenic, paraffinic, silicone-based, bio-based and other oils.


  • Insulator
  • Cooling Agent
  • Lubricant
  • Chemical Stabilizer

On the basis of the function, the market has been classified into insulators, cooling agents, lubricants, and chemical stabilizers.


  • Small Transformers
  • Large Transformers
  • Utility
  • Others

The market has been categorized based on the end use into small transformers, large transformers, utility, and others.


  • Residential
  • Commercial
  • Industrial

On the basis of the application, the market has been segregated into residential, commercial, and industrial.


  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)

Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.

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Note: We are updating our reports, If you want the report with the latest primary and secondary data (2021-2026) including industry trends, market size and Competitive landscape, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

Key highlights of the report:                                                    

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Market Trends
  • Market Drivers and Success Factors
  • Impact of COVID-19
  • Value Chain Analysis
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.

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