According to the Global Insulating Oil Market report created by Industry Research, over the next five years the insulating oil market will register a 6.2% CAGR by 2024 in terms of revenue, the global market size will reach $3.07 B by 2024, from $2.15 B in 2019.
The biggest market are still in the rapidly growing Asia Pacific market—especially China, India, and the ASEAN countries. Based on improvements in political and economic stability, growth should also be better in Central and Eastern Europe. Brazil is leading the growth in South America. Companies that are well established in these locations are in the strongest position to take advantage of these opportunities.
Insulating oil market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer include Nynas, Petrochina, Shell, Apar Industry, Ergon, Sinopec, Calumet, Hydrodec, Jiangsu Shuangjiang, Jiangsu Gaoke, Dow Corning, Cargill, Engen Petroleum, Valvoline, Zibo Qinrun, Savita Oil, Raj Petro Specialties.
Insulating oil market types covered in this report are mineral oil-based insulating oil, silicone-based insulating oil, synthetic oil-based insulating oil.
Insulating oil market applications covered in this report are ordinary transformer and EHV transformer.
Source: The West Tribune