Heat Transfer Fluid Market Share, Size, Sales Revenue, Leading Key Players Update | Industry Demand by Forecast to 2023

“Heat Transfer Fluid Market is Projected to expand at 5.8 % CAGR during the Forecast Period”
The global Heat Transfer Fluid Market is expected to witness a stagnation in growth during the forecast period. This is due to the considerable growth in the power sector with population boom along with the rise in energy demand in various regions.

Market Overview:-

The market is majorly driven by the increasing development in emerging countries especially in Asia Pacific region, where there is an increase in chemical processing, automotive manufacturing and renewable energy based energy generation. Also, there is an increased need to maintain temperatures in end-use industries, which can result in enhanced process effectiveness and reduced operating costs. The market is restrained by stringent regulations surrounding the heat transfer fluids as there are severe environmental and safety concerns. The global heat transfer fluid market is segmented on the basis of type and by end-use industries.

The performance of heat transfer fluids is critical in determining the effectiveness of an operation as ideal heat transfer fluid would result in low cost of operations. Especially in industries, heat transfer fluids are made through flow through and around a particular device or equipment, which would eventually prevent them from overheating. Heat transfer fluids are of immense importance to applications that operate in extreme temperatures.

Key Players:-

  • DOW 
  • Exxonmobil
  • Chevron
  • Paratherm 
  • BASF
  • Lanxess
  • Huntsman Corporation

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Segments:-

Based on application, the heat transfer fluid market is segmented as oil & gas, chemicals & processing, renewable energy, pharmaceuticals, food and beverage and automotive applications. The market for heat transfer fluids is expected to rise with increasing oil and gas operations in onshore and offshore production processes across North America and Europe. The chemical & processing applications are also expected to contribute to the heat transfer fluid market as energy recovery and heat recovery plays an increasing role in the chemical industry operations. Furthermore, in renewable energy applications, heat transfer fluids are driven by the increasing installations of solar thermal energy systems and solar power plants such as CSP plants.

Table of Content:-

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

3 Market Dynamics

4 Market Landscape

 5 Global Heat Transfer Fluid Market, By Type

5.1 Introduction

5.2 Mineral Oils

5.2.1 Market Estimates & Forecast, 2018-2023

5.2.2 Market Estimates & Forecast By Region, 2018-2023

5.3 Silicones & Aromatics

5.3.1 Market Estimates & Forecast, 2018-2023

5.3.2 Market Estimates & Forecast By Region, 2018-2023

5.4 Glycols

5.4.1 Market Estimates & Forecast, 2018-2023

5.4.2 Market Estimates & Forecast By Region, 2018-2023

5.5 Nano-Fluids

5.5.1 Market Estimates & Forecast, 2018-2023

5.5.2 Market Estimates & Forecast By Region, 2018-2023

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Regional Analysis of Global Power Rental Market:-

The market is expected to be dominated by the Asia Pacific region as the region is witnessing increasing installations of solar power projects such as CSP and also rising chemical and processing industry. With rising population and increasing demand for energy from renewable energy sources, the heat transfer fluid market is expected to be driven by these demands in these regions. This is closely followed by the North America region where the chemical and processing sector is contributing to the growth of the heat transfer fluids market.

The global heat transfer fluid market is projected to expand at 5.8 % CAGR during the forecast period.

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