Asia-Pacific Bio Transformer Oil Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Asia-Pacific bio transformer oil Market is Segmented by Product (Synthetic Ester Transformer Oil, Natural Ester Transformer Oil), Application (Power Transformer, Natural Ester Transformer, Other Applications), Geography (China, India, Japan, Thailand, Indonesia, Malaysia, rest of Asia-Pacific) The report offers the market sizes and forecasts for the Asia-Pacific bio transformer oil market based on value (in USD million) and volume (million liters) for all the above segments.

APAC Bio Transformer Oil Market Size

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:
Asia-Pacific Bio Transformer Oil Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR > 6.00 %
Market Concentration Low

Major Players

Asia-Pacific Bio Transformer Oil Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

$4750

Team License

$5250

Corporate License

$8750

Book before:

APAC Bio Transformer Oil Market Analysis

The Asia-Pacific bio transformer oil market is expected to register a CAGR of over 6% during the forecast period (2022-2027). The global COVID-19 epidemic and widespread lockdowns had no impact on the market for bio transformer oil. During the lockdown, power generation and transmission were deemed essential.

  • In the short term, the market will be driven by the power consumption, production, and distribution sectors, as well as the growth of the population and their increasing demand for electricity.
  • However, the availability of less expensive alternatives will probably impede the market's growth.

Future growth potential will be influenced by the demand for bio transformer oil from transformers and transformers in electric vehicle charging stations. Transformers are employed in the charging stations to increase the voltage in order to enable quick charging.

APAC Bio Transformer Oil Market Trends

This section covers the major market trends shaping the APAC Bio Transformer Oil Market according to our research experts:

Growing Demand for Power Transformers

  • Power transformers are utilized in high-voltage electric transmission and distribution, including the step-up or step-down of the voltage from the power line. The major uses for power transformers are in manufacturing industries, power generation, and electric utility companies. The transformer oil completely encloses the core of the transformer, dispersing heat and preserving the core. Transformer oils are stable at high temperatures and have great electrical insulating qualities.
  • There are different kinds of power transformers, depending on how the current phases, step-ups, and step-downs are combined. Depending on their needs, end users like large industrial companies would utilize a step-down or step-up transformer, while the power transformer is used to step up the voltage from the power plant to the end user.
  • Power transformer sales are significantly influenced by the trends in the Asia-Pacific region, which has the world's highest population and thus larger energy needs than other regions. By 2025, the region's electricity demand is anticipated to rise to around 11,000 terawatts due to an increase in per capita energy consumption, which is predicted to have a positive impact on the power transformer and bio-transformer oil markets.
  • According to Our World in Data, Japan generated 8.183 MWh of power per person in 2021, with China coming in second with 5.985 MWh, Malaysia coming in third with 5.279 MWh, Thailand coming in third with 2.463 MWh, India coming in third with 1.218 MWh, and Indonesia coming in third with 1.13 MWh.
  • The two biggest markets in the region are expected to be China and India. China is the world's top generator of electricity, followed by India and Japan, according to Our World in Data. In 2021, China produced 8,534 TWh of electricity, India produced 1,714 TWh, and Japan produced 1019 TWh.
  • According to a survey on the electricity industry, India, the second-fastest growing nation in the Asia-Pacific region, will have a 7% increase in electricity demand by 2022.

Overall, it is anticipated that the region's market for biotransformer oil would be driven by the expanding power transformer industry over the forecast period.

India's Primary Energy Consumption, TWh, Bio-Trasformer Oil End-user Industry, 2017-2021

The Asia-Pacific will be dominated by China

  • The world's top producer, supplier, and consumer of electricity is China. high demand for bio-transformer oil from the manufacturing industry, distribution industry, and supply chain sector.
  • Furthermore, China's expanding industrial activities to overtake the US and become an economic giant are projected to fuel the country's demand for energy and, consequently, for bio transformer oil.
  • The Electricity Market report predicts that China's electricity demand will rise by over 4% in 2023 and by over 3% in 2022. There are 47 nuclear power stations in service in China, with a total installed capacity of 48.76 GW. A total of 11 new nuclear power plants with an installed capacity of 11.759 GW were being built.
  • China announced in December 2021 that it will invest USD 440 billion in the construction of at least 150 new nuclear reactors over the course of the following 15 years. 19 reactors are now being built in the nation, 43 reactors are waiting for permits, and a staggering 166 reactors have been announced. These 228 reactors have a total capacity of 246 GW.During the projection period, it is anticipated that the country's need for energy and bio-transformer oil will increase along with the number of nuclear power plants.
  • China is anticipated to dominate the bio transformer oil market and have stable expansion over the projected period, considering all the aforementioned factors.
China's Primary Energy Consumption, TWh, Bio-Trasformer Oil End-user Industry, 2017-2021

APAC Bio Transformer Oil Industry Overview

he Asia-Pacific bio transformer oil market is fragmented in nature. Some of the major players in the market include ABBA S.p.A, Cargill Incorporated, Eaton, M&I Materials Ltd, Nynas AB, PSP Specialities Public Company Limited, Sinopec, Savita Oil, and Shell Plc.

APAC Bio Transformer Oil Market Leaders

  1. Cargill Incorporated

  2. Eaton

  3. M&I Materials Ltd

  4. Nynas AB

  5. Sinopec

*Disclaimer: Major Players sorted in no particular order

MArket Concentration.png
Need More Details on Market Players and Competitors?
Download PDF

APAC Bio Transformer Oil Market News

  • October 2022: Nynas released its findings regarding the new product. The NYTRO® BIO 300X transformer liquid from Nynas provides a more environmentally friendly cooling option. Improved performance with ultra-low viscosity, which offers superior heat transmission, makes power transformer cooling more efficient.
  • December 2021: Cargill's FR3 biodegradable transformer oil, which is a higher-performing transformer fluid that is more reliable and better for the environment than mineral oil, established its first FR3 natural ester fluid manufacturing facility in Guangdong Province with USD 7 billion. Total greenhouse gas emissions from FR3 fluid are 56 times lower than those from mineral oil. The fluctuating and rapidly expanding demands on the power network are compared between transformers loaded with mineral oil and those filled with Cargill's FR3 fluid.

APAC Bio Transformer Oil Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Environmental concerns are increasing demand for bio-based transformer oil

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Rising Price of Plam Oil

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Product Type

      1. 5.1.1 Synthetic Ester Transformer oil

      2. 5.1.2 Natural Ester Transformer oil

    2. 5.2 Application

      1. 5.2.1 Power Transformer

      2. 5.2.2 Distribution Transformer

      3. 5.2.3 Other Applications

    3. 5.3 Geography

      1. 5.3.1 China

      2. 5.3.2 India

      3. 5.3.3 Japan

      4. 5.3.4 Thailand

      5. 5.3.5 Indonesia

      6. 5.3.6 Malaysia

      7. 5.3.7 Rest of Asia-Pacific

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 ABBA S.p.A

      2. 6.4.2 Cargill, Incorporated

      3. 6.4.3 Eaton

      4. 6.4.4 M&I Materials Ltd

      5. 6.4.5 Nynas AB

      6. 6.4.6 PSP Specialities Public Company Limited

      7. 6.4.7 Savita Oil

      8. 6.4.8 Shell Plc

      9. 6.4.9 Sinopec Lubricant

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Demand from transformers used in electric vehicle charging stations

**Subject to Availability
You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

APAC Bio Transformer Oil Industry Segmentation

In high-voltage electric infrastructure, transformer oil is used as a dielectric insulating liquid medium. Typically made from crude oil, transformer oils are being replaced by environmentally friendly alternatives like bio-transformer oils. Bio-based transformer oils are produced using natural materials like seeds and vegetables; they are biodegradable and safe in the event of leaks. The Asia-Pacific bio transformer oil market is segmented by product type, application, and geography. By product type, the market is segmented into synthetic ester transformer oil and natural ester transformer oil. By application, the market is segmented into power transformers, distribution transformers, and other applications. The report covers the market size and forecast for six countries. For each segment, market sizing and forecasts have been done based on value (in USD million) for all the above segments.

Product Type
Synthetic Ester Transformer oil
Natural Ester Transformer oil
Application
Power Transformer
Distribution Transformer
Other Applications
Geography
China
India
Japan
Thailand
Indonesia
Malaysia
Rest of Asia-Pacific
Need A Different Region Or Segment?
Customize Now

APAC Bio Transformer Oil Market Research FAQs

The Asia-Pacific Bio Transformer Oil Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

Cargill Incorporated , Eaton , M&I Materials Ltd , Nynas AB and Sinopec are the major companies operating in the Asia-Pacific Bio Transformer Oil Market.

The report covers the Asia-Pacific Bio Transformer Oil Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Bio Transformer Oil Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Asia-Pacific Bio Transformer Oil Industry Report

Statistics for the 2024 Asia-Pacific Bio Transformer Oil market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Bio Transformer Oil analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Asia-Pacific Bio Transformer Oil Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)