Market Overview:
The global mineral oil-based insulating oil market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for mineral oil-based insulating oils from various end-use industries, such as power generation, automotive, and aerospace. In addition, the growing demand for high voltage (EHV) transformers is also contributing to the growth of this market. Based on type, the global mineral oil-based insulating oil market can be segmented into low flash point, medium flash point, and higher flash point oils. Low flash point oils are used in applications that require a lower firepoint than standard transformer oils. These oils are generally used in applications where there is a greater risk of fire or explosion due to an accidental release of energy. Medium flash point oils have a higher firepoint than low flash point oils and are generally used in applications where there is less risk of fire or explosion due to an accidental release of energy.
Product Definition:
Mineral oil-based insulating oil is a synthetic lubricant used in transformers, capacitors, and other electrical equipment to help cool and protect the equipment.
Low Flash Point:
Low flash point insulating oils are used in the production of mineral oil-based insulating oil. These products find application in various end-use industries such as construction, automotive and transportation, heating ventilation and air conditioning (HVAC), chemical processing, paper making among others. The growth of these end-use industries is expected to drive the demand for low flash point insulating oils over the forecast period.
Medium Flash Point:
The medium flash point is the stage of oil when it ignites with a bright orange flame and burns with a blue-gray smoke. The medium flash point is used to measure the heat content of mineral oils, which are used as an insulating oil in thermal power plants.
Application Insights:
The demand for the product in ordinary transformer application accounted for over 40% of the global market share in 2017. Mineral oil-based insulating oils are used as a protective medium between primary and secondary windings of an electrical machine, which prevents electric leakage and provides insulation. The segment is projected to witness significant growth owing to its use in various transformers across diverse applications including power generation, transmission & distribution networks, petrochemical plants etc.
In EHV transformer application mineral oil-based insulating oils are used as a protective medium between primary and secondary winding insulation that prevents electric leakage at high voltage levels.
Regional Analysis:
Asia Pacific dominated the global mineral oil-based insulating oil market in 2017 and is expected to witness significant growth over the forecast period. This can be attributed to increasing electricity demand, growing industrialization, and rapid urbanization across this region. In addition, rising construction activities due to increased foreign investments are also anticipated to drive product demand in this region.
The Asia Pacific was followed by North America which accounted for a revenue share of 22% in 2017 owing to high electricity consumption per capita coupled with technological advancements such as miniaturization of transformers along with an increase in energy efficiency requirements for transformer insulation.
Growth Factors:
- Increasing demand for mineral oil-based insulating oil from the power sector as a result of growing electricity consumption across the globe.
- Rising investments in renewable energy sources such as solar and wind, which is expected to lead to an increase in demand for mineral oil-based insulating oils over the forecast period.
- Growing concerns about environmental pollution and global warming are likely to propel the adoption of mineral oil-based insulating oils, thereby driving market growth.
- Increasing use of electric vehicles is anticipated to create opportunities for growth in the mineral oil-based insulation market during the forecast period
Scope Of The Report
Report Attributes
Report Details
Report Title
Mineral Oil-based Insulating Oil Market Research Report
By Type
Low Flash Point, Medium Flash Point, Higher Flash Point
By Application
Ordinary Transformer, EHV Transformer
By Companies
Nynas, Petrochina, Ergon, Apar Industry, CNOOC, Shell, Sinopec, Savita Oil, Calumet, Engen Petroleum, Valvoline, Jiangsu Gaoke, Raj Petro Specialties, Jiangsu Shuangjiang, Hydrodec, Cargill, Dow Corning
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
154
Number of Tables & Figures
108
Customization Available
Yes, the report can be customized as per your need.
Global Mineral Oil-based Insulating Oil Market Report Segments:
The global Mineral Oil-based Insulating Oil market is segmented on the basis of:
Types
Low Flash Point, Medium Flash Point, Higher Flash Point
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Ordinary Transformer, EHV Transformer
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Nynas
- Petrochina
- Ergon
- Apar Industry
- CNOOC
- Shell
- Sinopec
- Savita Oil
- Calumet
- Engen Petroleum
- Valvoline
- Jiangsu Gaoke
- Raj Petro Specialties
- Jiangsu Shuangjiang
- Hydrodec
- Cargill
- Dow Corning
Highlights of The Mineral Oil-based Insulating Oil Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Low Flash Point
- Medium Flash Point
- Higher Flash Point
- By Application:
- Ordinary Transformer
- EHV Transformer
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Mineral Oil-based Insulating Oil Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Mineral oil-based insulating oil is a type of insulation that is made from mineral oil. It is a petroleum-based product that can be used to coat the inside of walls and ceilings in order to keep them warm or cool. Mineral oil-based insulation can also be used as an additive in other types of insulation products, such as fiberglass batts and spray foam.
Some of the major players in the mineral oil-based insulating oil market are Nynas, Petrochina, Ergon, Apar Industry, CNOOC, Shell, Sinopec, Savita Oil, Calumet, Engen Petroleum, Valvoline, Jiangsu Gaoke, Raj Petro Specialties, Jiangsu Shuangjiang, Hydrodec, Cargill, Dow Corning.
The mineral oil-based insulating oil market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Mineral Oil-based Insulating Oil Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Mineral Oil-based Insulating Oil Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Mineral Oil-based Insulating Oil Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Mineral Oil-based Insulating Oil Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Mineral Oil-based Insulating Oil Market Size & Forecast, 2020-2028
4.5.1 Mineral Oil-based Insulating Oil Market Size and Y-o-Y Growth
4.5.2 Mineral Oil-based Insulating Oil Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Low Flash Point
5.2.2 Medium Flash Point
5.2.3 Higher Flash Point
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Ordinary Transformer
6.2.2 EHV Transformer
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Mineral Oil-based Insulating Oil Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Mineral Oil-based Insulating Oil Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Low Flash Point
9.6.2 Medium Flash Point
9.6.3 Higher Flash Point
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Ordinary Transformer
9.10.2 EHV Transformer
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Low Flash Point
10.6.2 Medium Flash Point
10.6.3 Higher Flash Point
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Ordinary Transformer
10.10.2 EHV Transformer
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Low Flash Point
11.6.2 Medium Flash Point
11.6.3 Higher Flash Point
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Ordinary Transformer
11.10.2 EHV Transformer
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Low Flash Point
12.6.2 Medium Flash Point
12.6.3 Higher Flash Point
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Ordinary Transformer
12.10.2 EHV Transformer
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Low Flash Point
13.6.2 Medium Flash Point
13.6.3 Higher Flash Point
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Ordinary Transformer
13.10.2 EHV Transformer
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Mineral Oil-based Insulating Oil Market: Competitive Dashboard
14.2 Global Mineral Oil-based Insulating Oil Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Nynas
14.3.2 Petrochina
14.3.3 Ergon
14.3.4 Apar Industry
14.3.5 CNOOC
14.3.6 Shell
14.3.7 Sinopec
14.3.8 Savita Oil
14.3.9 Calumet
14.3.10 Engen Petroleum
14.3.11 Valvoline
14.3.12 Jiangsu Gaoke
14.3.13 Raj Petro Specialties
14.3.14 Jiangsu Shuangjiang
14.3.15 Hydrodec
14.3.16 Cargill
14.3.17 Dow Corning
