The global transformer oil market is currently witnessing growth. Transformer oil is used in electrical power transformers to serve as a coolant and suppress corona discharge. Also known as insulating oil, it is a specialty product that remains stable at high temperatures and offers excellent electrical insulation. As a result, it is also used in high-voltage capacitors, fluorescent lamp ballasts, and high-voltage switches as well as circuit breakers. It acts as a barrier between oxygen and cellulose to avoid direct contact with different components of transformers and prevent oxidation.

One of the major factors driving the transformer oil market is the rising transmission and distribution of electricity across the globe. Owing to rapid urbanization and industrialization, a rise in the consumption of electricity is being witnessed, particularly in emerging markets with a high population density, such as India and China. In line with this, governments in these countries are undertaking initiatives to provide an uninterrupted power supply and expanding the existing grid infrastructure, which in turn is influencing the market growth. Moreover, increasing investments in the improvement of power grids in developed regions like Europe and North America also act as a major growth-inducing factor. Although mineral-based transformer oil currently dominates the market, manufacturers are focusing on introducing safer and green products owing to the increasing environmental consciousness across the globe. For instance, bio-based transformer oils, which are produced using renewable raw materials such as vegetable oils, are gaining traction in the market due to their biodegradable and eco-friendly nature. Looking forward, IMARC Group expects the market to expand at a CAGR of around 7% during 2020-2025.

Breakup by Type:

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

Breakup by Function:

• Insulator
• Cooling Agent
• Lubricant
• Chemical Stabilizer
   

Breakup by End-Use:

• Small Transformers
• Large Transformers
• Utility
• Others
   

Breakup by Application:

• Residential
• Commercial
• Industrial
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Apar Industries, Calumet Specialty Products, Cargill, Engen Petroleum, Ergon Inc., Eden Oils, Hydrodec Group, Nynas, PetroChina, San Joaquin Refining Co. Inc., Sinopec, Valvoline, etc.

Key Questions Answered in This Report:

• How has the global transformer oil market performed so far and how will it perform in the coming years?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the function?
• What is the breakup of the market based on the end-use?
• What is the breakup of the market based on the application?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the market?
• What is the structure of the global transformer oil market and who are the key players?
• What is the degree of competition in the market?

1    Preface
2    Scope and Methodology 
    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction
    4.1    Overview
    4.2    Key Industry Trends
5    Global Transformer Oil Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Market Forecast
6    Market Breakup by Type
    6.1    Napthenic Oil
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Paraffinic Oil
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Silicone Based
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.3    Bio-Based
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.3    Others
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Function
    7.1    Insulator
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Cooling Agent
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Lubricant
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Chemical Stabilizer
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by End-Use
    8.1    Small Transformers
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Large Transformers
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Utility
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Others
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Application 
    9.1    Residential
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Commercial
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Industrial
        9.3.1 Market Trends
        9.3.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
     10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Indicators
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Apar Industries
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio 
           15.3.1.3 Financials
        15.3.2    Calumet Specialty Products
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio 
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3    Cargill
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio 
           15.3.3.3 SWOT Analysis
        15.3.4    Engen Petroleum
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio 
        15.3.5    Ergon Inc.
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio 
           15.3.5.3 SWOT Analysis
        15.3.6    Eden Oils
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio 
        15.3.7    Hydrodec Group
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio 
           15.3.7.3 Financials
        15.3.8    Nynas
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio 
           15.3.8.3 SWOT Analysis
        15.3.9    PetroChina
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio 
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10    San Joaquin Refining Co., Inc.
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio 
        15.3.11    Sinopec
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio 
        15.3.12    Valvoline
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio 
           15.3.12.3 Financials
           15.3.12.4 SWOT Analysis
           
List of Figures

Figure 1: Global: Transformer Oil Market: Major Drivers and Challenges
Figure 2: Global: Transformer Oil Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Transformer Oil Market: Breakup by Type (in %), 2019
Figure 4: Global: Transformer Oil Market: Breakup by Function (in %), 2019
Figure 5: Global: Transformer Oil Market: Breakup by End-Use (in %), 2019
Figure 6: Global: Transformer Oil Market: Breakup by Application (in %), 2019
Figure 7: Global: Transformer Oil Market: Breakup by Region (in %), 2019
Figure 8: Global: Transformer Oil Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 9: Global: Transformer Oil (Napthenic Oil) Market: Sales Value (in Million US$), 2014 & 2019
Figure 10: Global: Transformer Oil (Napthenic Oil) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 11: Global: Transformer Oil (Paraffinic Oil) Market: Sales Value (in Million US$), 2014 & 2019
Figure 12: Global: Transformer Oil (Paraffinic Oil) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 13: Global: Transformer Oil (Silicone-Based) Market: Sales Value (in Million US$), 2014 & 2019
Figure 14: Global: Transformer Oil (Silicone-Based) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 15: Global: Transformer Oil (Bio-Based) Market: Sales Value (in Million US$), 2014 & 2019
Figure 16: Global: Transformer Oil (Bio-Based) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 17: Global: Transformer Oil (Other Types) Market: Sales Value (in Million US$), 2014 & 2019
Figure 18: Global: Transformer Oil (Other Types) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 19: Global: Transformer Oil (Insulator) Market: Sales Value (in Million US$), 2014 & 2019
Figure 20: Global: Transformer Oil (Insulator) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 21: Global: Transformer Oil (Cooling Agent) Market: Sales Value (in Million US$), 2014 & 2019
Figure 22: Global: Transformer Oil (Cooling Agent) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 23: Global: Transformer Oil (Lubricant) Market: Sales Value (in Million US$), 2014 & 2019
Figure 24: Global: Transformer Oil (Lubricant) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 25: Global: Transformer Oil (Chemical Stabilizer) Market: Sales Value (in Million US$), 2014 & 2019
Figure 26: Global: Transformer Oil (Chemical Stabilizer) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 27: Global: Transformer Oil (Small Transformers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 28: Global: Transformer Oil (Small Transformers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 29: Global: Transformer Oil (Large Transformers) Market: Sales Value (in Million US$), 2014 & 2019
Figure 30: Global: Transformer Oil (Large Transformers) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 31: Global: Transformer Oil (Utility) Market: Sales Value (in Million US$), 2014 & 2019
Figure 32: Global: Transformer Oil (Utility) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 33: Global: Transformer Oil (Other End-Uses) Market: Sales Value (in Million US$), 2014 & 2019
Figure 34: Global: Transformer Oil (Other End-Uses) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 35: Global: Transformer Oil (Residential) Market: Sales Value (in Million US$), 2014 & 2019
Figure 36: Global: Transformer Oil (Residential) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 37: Global: Transformer Oil (Commercial) Market: Sales Value (in Million US$), 2014 & 2019
Figure 38: Global: Transformer Oil (Commercial) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 39: Global: Transformer Oil (Industrial) Market: Sales Value (in Million US$), 2014 & 2019
Figure 40: Global: Transformer Oil (Industrial) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 41: North America: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 42: North America: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 43: United States: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 44: United States: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 45: Canada: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 46: Canada: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 47: Asia Pacific: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 48: Asia Pacific: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 49: China: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 50: China: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 51: Japan: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 52: Japan: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 53: India: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 54: India: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 55: South Korea: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 56: South Korea: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 57: Australia: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 58: Australia: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 59: Indonesia: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 60: Indonesia: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 61: Others: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 62: Others: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 63: Europe: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 64: Europe: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 65: Germany: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 66: Germany: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 67: France: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 68: France: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 69: United Kingdom: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 70: United Kingdom: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 71: Italy: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 72: Italy: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 73: Spain: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 74: Spain: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 75: Russia: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 76: Russia: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 77: Others: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 78: Others: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 79: Latin America: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 80: Latin America: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 81: Brazil: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 82: Brazil: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 83: Mexico: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 84: Mexico: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 85: Others: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 86: Others: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 87: Middle East and Africa: Transformer Oil Market: Sales Value (in Million US$), 2014 & 2019
Figure 88: Middle East and Africa: Transformer Oil Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 89: Global: Transformer Oil Industry: SWOT Analysis
Figure 90: Global: Transformer Oil Industry: Value Chain Analysis
Figure 91: Global: Transformer Oil Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Global: Transformer Oil Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Transformer Oil Market Forecast: Breakup by Type (in Million US$), 2020-2025
Table 3: Global: Transformer Oil Market Forecast: Breakup by Function (in Million US$), 2020-2025
Table 4: Global: Transformer Oil Market Forecast: Breakup by End-Use (in Million US$), 2020-2025
Table 5: Global: Transformer Oil Market Forecast: Breakup by Application (in Million US$), 2020-2025
Table 6: Global: Transformer Oil Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 7: Global: Transformer Oil Market: Competitive Structure
Table 8: Global: Transformer Oil Market: Key Players