Global Heat Transfer Fluids Market size is expected to reach 745.3 kilo tons by 2022, growing at a CAGR of 6.1% from 2015 to 2022.
Growing demand to be used as a heating utility coupled with heat recovery management in industries such as pharmaceuticals, metal processing, and food processing and automotive is anticipated to drive the heat transfer fluids market growth.
Increasing concentrated solar power (CSP) plants installations in countries such as the U.S., China and France are anticipated to drive heat transfer Fluids industry. Global CSP capacity was 436.0 MW in 2008 which increased to 3320 MW in 2014 and witnessed CAGR of 40.1% in the duration period. Thermic fluids play a significant role in improving efficiency of CSP plants. Owing to enhanced thermal properties of these fluids, they have high heat storage capabilities which in turn increases the overall power generation capacity of the plant.
The U.S. and Spain are leading regional markets and are estimated to witness significant growth with rapid development of existing CSP projects. Spain has advantages of localized resources and along with favorable policy framework it is expected to reach a capacity of 4.0 GW by 2015.
Growing gas production in GCC is anticipated to fuel synthetic lubricants demand in the form of heat transfer fluids over the next seven years. GCC natural gas production was 207.5 BCM in 2005 and it reached 369.2 BCM by 2012. Application growth in construction, automotive, personal care and food & beverage industries in emerging economies of Middle East countries such as Qatar, Saudi Arabia, and UAE, has shifted the national governments’ focus towards natural gas development
Browse the Full Heat Transfer Fluids Market- Global Scenario, Industry Outlook, Share, Industry analysis, Size, Trends and Forecast to 2022 Report at:
Approval of using thermic fluids in food & beverages applications by various regulatory bodies is likely to favor its demand. The ingredients of food grade heat transfer fluid are now approved by USDA by HT1 applications (thermic fluids with incidental food contact). These fluids comply with all the requirements of FDA 178.3570.
Stringent environmental regulations by EPA and REACH coupled with tight raw material supply situation (base oil, crude oil) are anticipated to hinder industry growth. Increasing investments to develop water based or bio based heat transfer fluid is likely to provide growth opportunities.
Competitive Market Share
• Global heat transfer fluids market share is consolidated with top five companies accounting for over 75% of the market volume in 2014. The Dow Chemical Company dominated the market with a share of over 28% of the total revenue generated in 2014. Major products offered by the company include synthetic fluids and inhibited glycol (ethylene or propylene glycol) fluids.
• Major companies involved in this market include Eastman Company, ExxonMobil, Bp and Shell Companies are also investing to develop nanofluids accompanied with superior thermal properties and multi-utility for numerous industrial applications.
Other Reports by Radiant Insights:
• Alpha Olefin Market Research Report 2020:
• Asia Pacific Linear Alkyl Benzene (LAB) Market:
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
For more information, Visit: http://www.radiantinsights.com/
Company Name: Radiant Insights, Inc.
Contact Person: Michelle Thoras, Corporate Sales Specialist – USA
Email: Send Email
Phone: (415) 349-0054, Toll Free: 1-888-202-9519
Address:28 2nd Street, Suite 3036
City: San Francisco
Country: United States