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Transformer Oil Market : New Revenue Pockets
The transformer oil market is a key derivative of the global transmission and distribution investments which is of prime importance due to the current power scenarios all across. The liquid-immersed transformer market in particular is expected to grow strongly in the next five-six years due to increase in the European and North American governmental investments towards enhancement of power grids. The increasing power requirements in the developing countries also demand expansion and upgrade of power grids, which in turn indirectly drives the demand for liquid-immersed transformers. The developing countries in Asia-Pacific, South America, and the Middle East are expected to install a large number of new liquid-filled transformers in the future giving rise to the increased demand and consumption for transformer oil. Moreover, the existing transformers in the North American and European regions will give rise to increased consumption of transformer oil due to their ageing which would require to be replaced or topped up after the removal of old transformer oil.
Bio-based transformer oil is gaining in demand and consumption due to increasing fire accidents caused in the conventional mineral oil based transformers. Bio-based transformer oils are typically biodegradable in nature, which has led to increase in consumption. These are also incombustible and non-toxic in nature. The market observed a good rate of adoption of bio-based transformer oil due to these aspects in the recent five years; this trend is likely to continue globally and is further expected to increase.
Nynas (Sweden) is one of the leading players of transformer oil market. In order to maintain its market position, Nynas (Sweden) has an extensive expansion and production strategy.
Transformer Oil Market, by Types (Mineral Oil – Naphthenic & Paraffinic, Silicone, and Bio-based), Applications (Small & Large Transformers, Utility) & Geography – Global Industry Trends & Forecast to 2018
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