CORRECTING and REPLACING Technavio Announces Top Five Vendors in the Global Transformer Oil Market from 2016 to 2020 Technavio Research

LONDON--()--Please replace the release dated August 4, 2016 with the following corrected version due to multiple revisions.

The corrected release reads:


Technavio has announced the top five leading vendors in their recent global transformer oil market report until 2020. This research report also lists five other prominent vendors that are expected to impact the market during the forecast period.

Competitive vendor landscape

The global transformer oil market is moderately fragmented, comprising of a diverse group of international as well as regional vendors. Most vendors lack product differentiation, which has forced them to competitively price their products and services to consolidate their shares. As well, intense competition from regional vendors that offer low-priced, customized solutions is affecting the market share of international vendors.

“However, these vendors may not have to compete with many new entrants during the forecast period. This is due to the high capital expenditure required to enter the market. New entrants would also find it difficult to compete with international vendors in terms of quality, design, product features, turnaround time, services, and maintenance of customer relationships,” says Gaurav Mohindru, a lead unit operations analyst from Technavio.

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Top five transformer oil market vendors

Apar Industries

Apar Industries was founded in 1989 and is headquartered in Mumbai, Maharashtra, India. The company engages in the provision of transformer and specialty oils, aluminum conductors, aluminum alloy conductors, aluminum conductor steel reinforced conductors, and power and telecom cable. It operates its business mainly through conductors, transformer and specialty oils, and power and telecom cable segments. It offers a range of specialty oils, like transformer oils, liquid paraffin and white oils, industrial oils and lubricants, rubber processing oils, and ink oils. It provides cables, including high-tension and low-tension power cables, fiber optic cables, elastomeric (rubber) cables, special cables, and e-beam irradiated products.

Apar Industries manufactures internationally benchmarked grades of high-performance transformer oils in India that are environment-friendly and of high performance with lower gassing tendency, high oxidation stability, and non-corrosive with ultra-low levels of sulfur. The company produces a range of high-quality transformer oils from selected hydrotreated naphthenic and hydrocracked/Isodewaxed Isoparaffinic oils that are free from polar compounds and have high oxidation stability and aging properties, ensuring long service life.

Ergon, Inc.

Founded in 1954 and headquartered in Jackson, Mississippi, Ergon, Inc., and its consolidated subsidiaries are built on a foundation of petroleum-related enterprises. Ergon operates as a sophisticated crude oil processor, transporter and marketer of refined products. In 1978, the company formed Ergon Refining and began production of fuels at its first refinery in Vicksburg, Mississippi. The refinery has grown to be the largest manufacturer of naphthenic process oils in the world and currently has a processing capacity of up to 25,000 barrels of crude oil per day. It produces some of the highest quality transformer oils, HyVolt, along with process and base oil stocks. After recent investments in the facility, Ergon will be the world’s second largest Group I bright stock supplier by year’s end.

Ergon offers various market solutions on a global scale, in North and South America as well as the EMEA & Asia regions. The company’s primary brands are represented by HyVolt - insulating oils, HyPrene - process oils, HyGold - base oils, and HyPrint - ink oils.


Nynas was founded in 1928 and is headquartered in Stockholm, Sweden. The company is involved in the production and marketing of specialty oil products. It offers oils for manufacturing different types of synthetic rubber and compounds, chemical and technical applications, naphthenic specialty oils, and base oils as a component in cutting fluids for metal working, hydraulic oils, greases, and other industrial lubricants. Nynas provides bitumen binders for use in asphalt applications in the construction and maintenance of motorways, bridges, and runways.

Nynas super grades meets various tough performance demands. These oils are developed to provide high stability for longer service life with less maintenance. Under this, the company offers Nytro 10XN (IEC 60296, ED. 4), Nytro 10XN (ASTM D3487), Nytro 4000X (IEC 60296, ED. 4), and Nytro 4000A (IEC 60296, ED. 4). These are developed and formulated mainly to deliver maximum resistance to oil degradation. These provides high oxidation stability for long transformer life, with less maintenance.


PetroChina was established in 1988 and is headquartered in Beijing, China. It is one of the largest oil and gas producer and marketer in China. The company is involved in the exploration and production of crude oil and natural gas. It also manufactures an array of derivative chemical and petrochemical products. Its business activities cover all the major sectors of the petroleum and petrochemical industry. PetroChina operates its business through four reportable segments, including exploration and production, refining and chemicals, marketing, and natural gas and pipeline.

PetroChina produces naphthenic-based transformer oils. This is manufactured by adopting moderately refined low viscosity and low pour point base oils. It is also characterized by good heat transfer, high oxidation stability, and good electrical properties. The company's transformer oils have stable and reliable performance and are produced from controlled quality procedures, meeting the requirements of IEC60296 2003 classification U and ASTM D3487-93 type 1 standard.


China Petroleum & Chemical Corp (Sinopec) was established in 1998 and is headquartered in Beijing, China. It is one of the largest integrated energy and chemical companies in China. It is involved in the exploration, production, refining, marketing, and distribution of oil and natural gas. The company also transports and distributes fertilizers, synthetic fiber, ethylene, synthetic rubber, and synthetic resin. Sinopec operates its business through five reportable segments, including exploration and production, marketing and distribution, refining, chemicals, and others.

Sinopec transformer oil is blended with high-refined mineral base oil and a well-chosen anti-oxidizer. Without Polychlorinated Biphenyl, it is suitable for insulation and cooling of transformers, oil immersed switches, and other insulation devices of electrical appliances. This product comprises several grades, including 45, 40, 25, and 10 according to low-temperature performance.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770

Release Summary

Technavio has announced the top five leading vendors in their recent global transformer oil market report until 2020.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770