Global Heat Transfer Fluids Market, By Product (Silicone and Aromatics, Mineral Oils, Glycol-Based Fluids and Others), Application (Oil and Gas, Chemical, Concentrated Solar Power (CSP), Food and Beverages, Plastics, Pharmaceuticals, Heating, Ventilating and Air Conditioning (HVAC) and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Heat Transfer Fluids Market
The heat transfer fluids market is expected to witness market growth at a rate of 6.86% in the forecast period of 2021 to 2028 and is expected to reach USD 4.52 billion by 2028. Data Bridge Market Research report on heat transfer fluids market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing awareness regarding energy conservation is escalating the growth of heat transfer fluids market.
Heat transfer fluids refer to liquid and gas manufactured for the transmission of heat from one unit to another. The fluids are produced from highly refined petroleum, siloxanes or synthetically formulated hydrocarbons. It is extensively utilized for cooling agent to prevent device from overheating. It is known to have viscosity higher than water. It offers low maintenance, safety and extended operating lifetimes.
The utilization of heat transfer fluids which are industrial products derived from petroleum sources to prevent overheating and for the storage of thermal energy and the increasing demand for product owning to its low viscosity, non-corrosive nature, high thermal conductivity and diffusivity and extreme phase transition temperatures are the major factors driving the heat transfer fluids market. The crucial components used to improve the efficiency of concentrated solar power plants, their important role in the collection of energy from the solar field and transport it to the energy storage systems and increasing scope of CSP and its competitive advantages over other renewable energy sources accelerate the heat transfer fluids market growth. The captive consumption of these thermal oils by manufacturers, shift toward bio-based thermic oils to comply with government regulations and increasing trend of CSP plants as they have capabilities to add storage capacity influence the heat transfer fluids market. Additionally, the utilization of the oil and gas industry, development of shale resources, and investments in research and development activities positively affect the heat transfer fluids market. Furthermore, high growth potential of bio-based HTFs and rising need for energy conservation extend profitable opportunities to the heat transfer fluids market players in the forecast period of 2021 to 2028.
On the other hand, the rise in concerns regarding fire and explosion hazards and the implementation of stringent regulations are the factors expected to obstruct the heat transfer fluids market growth. The fluctuation in raw material prices is projected to challenge the heat transfer fluids market in the forecast period of 2021 to 2028.
This heat transfer fluids market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on heat transfer fluids market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Heat Transfer Fluids Market Scope and Market Size
The heat transfer fluids market is segmented on the basis of product and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the heat transfer fluids market is segmented into silicone and aromatics, mineral oils, glycol-based fluids and others.
- On the basis of application, the heat transfer fluids market is segmented into oil and gas, chemical, concentrated solar power (CSP), food and beverages, plastics, pharmaceuticals, heating, ventilating and air conditioning (HVAC) and others.
Global Heat Transfer Fluids Market Country Level Analysis
The heat transfer fluids market is analyzed and market size, volume information is provided by country, product and application as referenced above.
The countries covered in the globally heat transfer fluids market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the heat transfer fluids market during the forecast period of 2021 to 2028 because of the high per capita income and manufacturing output, availability of base stock, industrialization, implementation of stringent regulations and ongoing product innovation and government initiatives in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Heat Transfer Fluids Market Share Analysis
The heat transfer fluids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to heat transfer fluids market.
The major players covered in the heat transfer fluids market report are DOW, Eastman Chemical Company, Exxon Mobil Corporation, Chevron Corporation, Huntsman International LLC, Royal Dutch Shell, LANXESS, PARATHERM, Clariant, Schultz, Arkema, BASF SE, bp p.l.c., Dalian Richfortune Chemicals Co., Ltd., DuPont, Tate & Lyle Bio Products., Dynalene, Inc., Global Heat Transfer, HPCL, Indian Oil Corporation Ltd, ISEL, Paras Lubricants Ltd., Suncor Energy Inc., Phillips 66, Radco Industries, Inc., Sasol, Schaeffer Manufacturing Co., Solvay among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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