The speed of power grid construction is accelerating, driving the market demand for transformer oil to increase.

Transformer oil, commonly known as square shed oil, is a mineral insulating oil extracted from petroleum. It appears as a light yellow transparent liquid and its main components are alkanes, naphthenic saturated hydrocarbons, aromatic unsaturated hydrocarbons and other compounds. Transformer oil is mainly used in oil-immersed power transformers in the field of power systems. Its main functions in power transformers are insulation, heat dissipation and arc suppression. Transformer oil is an important guarantee for the smooth transmission of electricity. In recent years, my country’s electricity demand has grown rapidly and power grid construction has accelerated. The market demand for oil-immersed power transformers and transformer oil has increased accordingly.

According to different production raw materials, transformer oil can be divided into mineral oil transformer oil, vegetable oil transformer oil, silicone oil transformer oil, synthetic ester transformer oil and other categories. Among them, mineral oil transformer oil is low-cost and is the current mainstream transformer oil type. In recent years, with the diversified development of market demand and the continuous deepening of research, my country’s transformer oil types have become increasingly rich.

According to the “2022-2026 Transformer Oil Industry Market In-depth Research and Investment Prospects Forecast Analysis Report released by the Industrial Research Center, in recent years In recent years, my country’s transformer oil consumption has been relatively stable, with annual consumption of about 760,000 tons, of which mineral oil transformer oil accounts for more than 90%, and other types of transformer oil account for a lower proportion. In recent years, with the improvement of environmental protection requirements and the upgrading of market demand, the use of mineral oil transformer oil has been subject to certain restrictions, and the market demand for new high-performance transformer oil has increased.

As a sub-industry of refined oil products, the transformer oil industry has certain technical, financial and qualification barriers. Therefore, the transformer oil market is highly concentrated. my country’s transformer oil market is mainly monopolized by two companies, PetroChina and Sinopec. Other companies such as Anhui Keao New Energy, Jiangsu Shuangjiang Energy, Kunlun Lubrication, Jiangsu Hi-Tech Petrochemical and other companies have a relatively small market share.

In the international market, transformer oil suppliers are mainly companies such as ABB, Shell, Siemens, Toshiba, and Schneider. International companies occupy a major share of the global high-end transformer oil market by virtue of their advantages in technology, brand, and quality. my country’s transformer oil industry started in the 1960s. After years of development and accumulation, my country’s transformer oil industry has reached the international leading level in terms of production technology, service level, product quality, etc. The competitive advantage of my country’s transformer oil enterprises in the international market is Continuously strengthen.

Industry analysts said that in recent years, in order to meet domestic electricity demand, my country’s power grid construction has been rapid, thus boosting the transformer oil market Demand grows. Mineral oil transformer oil is the main transformer oil in my country. However, with the improvement of environmental protection requirements and the upgrading of market demand, the demand for vegetable oil transformer oil, synthetic ester transformer oil and other types of transformer oil has increased. Overall, my country’s transformer oil market growth will be dominated by high-end products in the future.