Bio Based Transformer Oil - Price, Volume, Market Size | Statifacts

Bio-Based Transformer Oil Market Definition

Bio-based transformer oil is an insulating fluid used in transformers. It is primarily derived from renewables such as vegetable oils (e.g., soybean) and animal fats. Unlike conventional transformer oil,  bio-based oil has several environmental and performance advantages.  Bio-based oil is a renewable resource, aligning with goals such as sustainability and reducing carbon emissions. The oil has several valuable properties, such as high thermal stability and oxidation resistance, making it perfect for applications in electricity generation and distribution industries.

Structure

The bio-based transformer oil market is segmented by type into natural esters and synthetic esters. By application, it is segmented into distribution transformers and power transformers. These factors have created excellent growth in the petroleum market,  which is expected to create growth opportunities for bio-based products. Major competitors in the market include Shell, Cargill, Incorporated, Nynas AB, Renewable Lubricants Inc., Apar Industries Limited, P.S.P. Specialties Public Company Limited, Gandhar Oil Refinery (India) Limited., Savita Oil Technologies Limited, Ergon, Inc., Raj Petro Specialities Pvt. Ltd., Sinopec Lubricant, PetroChina Company Limited, ExxonMobil, M&I Materials Ltd, SCG Chemicals Public Company Limited, Calumet Specialty Products Partners, L.P.

Additional Information

The market is expected to grow in the coming years because companies across industries are actively switching from synthetic oils to bio-oils, which perform on par or superior in some cases. Growing environmental concerns and regulatory restrictions imposed by several countries are leading to accelerated adoption of such products. As the name suggests, bio-based transformer oil does not contain halogens, silicone, or petroleum hydrocarbons. This allows the oil to quickly degrade in case of leakage or spill and cause less environmental damage due to its non-toxic nature.

Bio Based Transformer Oil Market Segmentation:

By Type

• Natural Esters
• Synthetic Esters

By Application

• Distribution Transformers
• Power Transformers

Bio Based Transformer Oil Market Companies:

• Shell
  
• Cargill
  
• Incorporated
  
• Nynas AB
  
• Renewable Lubricants Inc.
  
• Apar Industries Limited
  
• P.S.P. Specialties Public Company Limited
  
• Gandhar Oil Refinery (India) Limited.
  
• Savita Oil Technologies Limited
  
• Ergon Inc.
  
• Raj Petro Specialities Pvt. Ltd.
  
• Sinopec Lubricant
  
• PetroChina Company Limited
  
• ExxonMobil
  
• M&I Materials Ltd
  
• SCG Chemicals Public Company Limited
  
• Calumet Specialty Products Partners L.P.