Heat Transfer Fluid Market – Size, Outlook, Trends and Forecast (2024

Heat Transfer Fluid Market - Size

Study Period

2018 - 2030

Base Year For Estimation

2023

Forecast Data Period

2024-2030

Historical Data Period

2018-2021

CAGR

7 %

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

The increasing demand for heat transfer fluids in industries like oil and gas, chemical processing, automotive for heat transfer application is leading the heat transfer market to have high growth across the world.

Global heat transfer fluid market share:
In developing countries specifically in automotive, metal processing, chemical and oil and gas sector is booming which will lead to high growth for the heat transfer fluid market. The maintenance of the temperature in this sectors are key responsible for the demand for heat transfer fluid market/

Increasing demand for a specific application based heat transfer fluid for the highest energy efficiency will lead to high growth for this industry. Increased temperature control properties, cost-saving nature compared to others will lead to growth for this industry.

Global heat transfer fluid market size and growth:

The Heat Transfer fluid market has been valued at USD 2.56 Billion in 2017 and is said that it will reach to USD 4.23 by 2024, at a CAGR of 7.25% during the forecast period.

CSP facilities in industrialised countries to promote renewable energies have led the growth of this market. Solar energy is cost-effective for power generation, which reduces the level of carbon emissions.

Growing natural gas production will lead to the demand for the industry. Shifting preference from traditional water or steam systems towards the thermal liquid systems in several industries will enhance the business growth of the heat transfer fluid market. Traditional systems are been replaced with the heat transfer fluid system will lead to product demand. High-temperature control, environmental safety, production efficiency and low maintenance are

Heat Transfer Fluid Market - Growth

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

the reason behind of heat transfer fluid market.

Factors including, stringent environmental regulations and unstable raw material supply owing to fluctuating crude oil & base oil production will impact heat transfer fluid market price trend. However, increasing penetration of bio-based and biodegradable product is expected to create new avenues for industry participants.

Silicone & aromatics will be valued at USD 1.5 billion by 2024. The industry demand in this segment is said to be driven by its extensively used in industries where processes require a very high temperature such as plastics, spin, and weave, wood processing, chemical, and food. High thermal stability, physical and chemical resistance will lead to high growth during the forecasting period. Technological development will lead to growth for this market.

Global heat transfer fluid market industry analysis:

Mineral oils of HTF market will have growth of 6% till 2024. Increasing demand will lead to enhancing the demand for mineral oil-based products.

Glycol is said to register over 90-kilotons by 2024. It is said that it will have significant growth. The increasing food and beverage industry in the Asia Pacific will lead to having increased fuel product demand during the forecasting period.

Global heat transfer fluid market outlook:

More than 30% of industry share is been accounted for Europe. Rising population and growing energy demand are leading the growth for power and energy sector. Regulations in Europe with an unstable supply of crude oil have encouraged the development of bio-based heat transfer fluids.

APAC HTF market was valued at USD 600 million in 2017. Increasing demand from various industrial sectors

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Heat Transfer Fluid Market - Porter's Five Force Analysis

Source: Envision Intelligence Analysis & Experts Insights.

*Graph shown for illustrative purpose only, the final report will have the graph with actual data and data labels

will lead the development of the growth of solar plants, which will have an extension in industry demand in the Asia Pacific.

North America heat transfer fluid market will witness growth at 6.7% up to 2024.

Global heat transfer fluid market trends:

British Petroleum, Shell, ExxonMobil and Dow Chemical are the primary drivers of industry demands. Other significant players are Dynalene, Indian Oil Corporation, Hindustan Petroleum Corporation Ltd., Eastman Chemical Company, CFR Chemicals, Intel Petroleum Company and Huntsman Corporation.

Mergers and acquisitions, expansion, a joint venture with product portfolio are the main strategies adopted by leading players. Technological advancement with the development of the multiple utilities is expected to create the path for future growth.

Global heat transfer fluid market research report includes:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
To have complete market analysis through industry value chain analysis, Porter’s five, PESTLE, SWOT analysis, and Y-o-Y analysis.
Regional and global diversity is analyzed with the major countries and the unions. Scrutinizing the revenue generation on Year–On–Year
Finding DROC in the current market and their impact in altering the market dynamics.
Competitive landscape analysis to find the merger and acquisition which will have a comparative financial study with significant competitors.
Expertise investment opportunities by the analyst to the individual and organisation to have a better foothold in the market.
IoT advancements have bought some reforms the in the manufacturing sector. Find the latest developments, market shares, and strategies that are employed by the major market players, such as
Dow (US)
Eastman (US)
Exxon Mobil (US)
Chevron (US)
Paratherm (US)
BASF (Germany)
Lanxess (Germany)
Huntsman (US)
Global Heat Transfer (UK).

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