April 21, 2021: Global Transformer Oil Market is anticipated to reach USD 4.05 billion by 2025. Transformer oil is also known as “Insulating oil”. Transformer oil is a superlative insulator for electricity, and it is stable at high temperature. This transformer oil is mainly a derivative of mineral oils, but substitute composition with better chemical and physical properties. Transformer oil has several properties such as high resistivity, thermal conductivity, minimum power loss, excellent di-electricity, chemical stability, and among others.
The factors that propel the growth of the Transformer Oil industry include increasing electric demand in emerging countries such as Brazil, South Africa, and India; which are anticipated to develop their grid infrastructure to increase the availability of electricity to the population.
On the other hand, there are factors that may hamper the growth of the market including strict environmental laws and shift towards organic oils, and the transition towards renewable sources of energy. Transformer Oil Market is anticipated to grow at a significant CAGR of 11.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Transformer Oil may be explored by product type, application, end users, and geography. Transformer Oil may be explored by product type as Mineral-based Oils, (Paraffinic Base Oils, Naphthenic Base Oils), Bio-based oils, and Silicone-based oils. The “Mineral-based Transformer Oil” segment surpassed the Transformer Oil industry in 2016 and is anticipated to maintain its dominance by 2025 owing to superior operational advantages, and environmental benefits.
The key applications that could be explored in the Transformer Oil Market include Utility Transformer Oils, Large-scale Transformers, and Small-scale Transformers. The “Small- scale Transformer” segment surpassed the Transformer Oil industry in 2016 and is anticipated to maintain its dominance by 2025 owing to growing electrification and urbanization of rural areas, several government initiatives to expand the power infrastructure, particularly in emerging economies such as Latin America, Africa, and Asia-Pacific. Transformer Oil may be explored by end users as chemicals and automotive.
Asia-Pacific accounted for the major share of the Transformer Oil Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include expansion of electric grids, increasing power requirements, and increasing requirement to transform & upgrade existing electricity supply organizations in emerging nations such as Vietnam, India, Indonesia and Thailand.
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Some of the key players that fuel the growth of the Transformer Oil industry comprise ABB Ltd., General Electric Company, Siemens AG, Mitsubishi Electric Corporation, Crompton Greaves Limited, Hyundai Heavy Industries Co. Ltd., Toshiba Corporation, Hyosung Group, Bharat Heavy Electricals Limited, Schneider Electric, and SPX Transformer Solutions, Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
Market Segment:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2014 - 2025)
• Mineral-based Oils
• Naphthenic Base Oils
• Paraffinic Base Oils
• Silicone-based oils
• Bio-based oils
Application Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• Small-scale Transformers
• Large-scale Transformers
• Utility Transformer Oils
Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 - 2025)
• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Asia Pacific
• China
• India
• Japan
• Latin America
• Mexico
• Brazil
• Middle East & Africa
• Saudi Arabia
• UAE
• Oman
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Global Pressure Vessel Market is anticipated to reach USD 225.84 billion by 2024.
The factors that propel the growth of the market include rising demand for power generation capacity and growing upstream & downstream activities in oil & gas manufacturing.
On the other hand, there are factors that may hamper the growth of the market including growing environmental consciousness involving mining activities.Pressure Vessel industry is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
The market may be explored by material type, product, end users, and geography.
The industry may be explored by material type as Composite, Steel Alloy, and Other Alloy.The Pressure Vessels Market could be explored based on product as Separator, Boiler, Nuclear Reactor, and Other.
The “Boiler” segment led the Pressure Vessel Industry in 2015 and is anticipated to maintain its dominance by 2024 owing to growing demand for petrochemicals and chemicals, and growing power plants in Asia Pacific as boilers are used in these plants for generating electricity.The market may be analyzed by end users as Chemical Industry, Petrochemical, Coal Chemical Industry, Non-Ferrous Metal, Nuclear Power, and Other.
The need of superior packaging alternative can act as a driver this market over a given period.
It is forecasted that that demand for exotic fish and fish products will eventually go up.
The dependency of consumer on meat and powdered products packages will have a positive impact on the industry growth.This market segment will benefit from demand for sustainable natural food and organic food product for their pets.
In addition, ease of printing on the product coupled with easier can design modifications is expected to emerge as the major growth drivers.In European market Steel food cans has a significant market share due to its properties like recyclability and excellent temper resistance.
However, it is expected to witness limited demand because of Aluminium cans.Application InsightsThe use of the product for packaging fruits is expected to account for over 25% of the revenue in Europe driven by a high production volume of canned fruits in Russia.
The demand for the product by the consumers across the region is expected to be driven by the use in salads and fruit puddings.Consumption of corned meat has lead to expansion in meat can industry in Europe.
The global LED table lamps market size is projected to touch USD 13.37 billion by the end of 2025, as per the report released by Million Insights.
Further, the shifting preference for smart homes, particularly in emerging nations such as India and China, is driving the demand for the product over the forecast years.
For example, General Electronic Company, in 2016, introduced a table lamp equipped with Amazon Alexa.
The company has partnered with Amazon to equip lamps with the Echo dot device.
Thus, such innovative products in the market are predicted to bode well for the industry growth in the upcoming years.
Leading companies operating in the region are emphasizing on the product optimization along with product and technological enhancement to satisfy the rising demand, which is predicted to fuel the APAC market over the estimated years.
Global Triethylene Glycol (TEG) Market is anticipated to reach USD 718.3 million by 2022.
On the other hand, there are factors that may hamper the growth of the market including higher derivatives of glycols, and high cost of production.
Triethylene Glycol Market is anticipated to grow at a significant CAGR of 3.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe.Download Free Sample Report @ https://www.millioninsights.com/industry-reports/triethylene-glycol-teg-market/request-sampleTriethylene Glycol (TEG) industry may be explored by product type, application, and geography.
The key application that could be explored in the TEG Market include Solvents, Polyester Resins, Natural gas dehydration, Plasticizers, Humectants, Polyurethanes, and Others.
The “Natural Gas Dehydration” segment led the Triethylene Glycol industry in 2015 and is anticipated to maintain its dominance by 2022.Asia-Pacific accounted for the major share of the Triethylene Glycol (TEG) Market Size in 2014 and will continue to lead in the forecast period.
The factors that could be attributed to the growth includes rising use of gas as a fuel source in India, China, Japan, and South Korea.
The global Steam Autoclaves Market is anticipated to rise at a staggering CAGR during the forecast period.
Being used for numerous applications, it helps in preventing major mistakes that lead to poor performance and non-sterile load; but mainly it serves in the pharmaceutical and medical industries where bi-hazardous waste is produced.
Autoclaving thus works at high temperature and pressure to kill spores and microorganisms.
The steam autoclaves market is driven by rise in surgical waste generated by clinics, hospitals and medical institutions.
In addition, life science research facilities and drug factories also contribute to the bio-hazardous medical waste.
North America accounted for a higher market share due to efficient logistic chain in the U.S. Regulatory framework and stringent policies for medical and biohazard waste is likely to help the market grow high during the forecast period.
The global Thermochromic Materials Market is estimated to touch US$ 7.31 billion by the completion of the prediction period.
The rising demand for inventive merchandises by way of color exchanging capacities and Temperature centered, for serviceable applications or entertaining has backed considerably to the progress of the market in the modern ages.The materials with temperature sensitive ability presently used in the form of polymers, coatings, inks and paper sheets to create everyday merchandises.
Brown ribbon thermometer is some such exclusive illustration of printed liquid crystals that alternates color, headed for, efficiently specify extreme body temperature for the duration of surgical procedure.
The subdivision of Colors was responsible for 41.0% stake of the general Thermochromic business incomes in the year 2016.
These devices help in recognizing the threats of high temperature.
Therefore, the demand for reversible materials in devices is greater in baby merchandises and chemical vessels.
