Heat Transfer Fluid Market To Record An Impressive Growth By 2026

Posted by Mangesh on November 19th, 2019

The growth of the global heat transfer fluids market is driven increase in requirements across the industrial sector for heat exchangers. Rise in demand from the chemical industry is one of the prominent growth drivers observed in the market. Apart from this, rise in need for energy efficiency to save energy is creates need for efficient devices that leads to the use of heat transfer fluids.

Heat Transfer Fluid (HTF) is a gas or a liquid which transmits heat from one section to another section. Heat transfer fluid is used to prevent overheating or to store thermal energy. It is used in processes that require heating or cooling, or basically to maintain equipment at constant temperature. Heat transfer fluids are commonly used in air conditioners, refrigerators, and heat pumps mainly in end-use industries such as chemical, oil & gas, plastics & polymers, and solar power, which work in intense temperature conditions.

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However, stringent environment regulations and fire & explosion hazards is anticipated to hamper the growth of the market. In addition, fluctuation in raw material prices is further anticipated to hamper the overall market growth. On the other hand, rise in penetration of biodegradable & bio-based products and implementation of Concentrated Solar Power (CSP) in developed countries is likely to inspire renewable energy sources. This is expected to create new growth opportunities for the global heat transfer fluids market.

The market is segmented into type, application, and region. By type, it is divided into silicones, aromatics, mineral oils, glycol-based fluids, and others. By application, it is classified into chemical fiber & polyester, oil & natural gas, coal industry, pharmaceutical industry, machining, chemical industry, plastic & rubber processing, and food processing. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The Major Key Players Are:

The Dow Chemical Company, ExxonMobil, Huntsman Corporation, Eastman Chemical Company, Chevron, LANXESS, Global Heat Transfer Ltd, Royal Dutch Shell PLC., Schultz Canada Chemicals, Ltd., Paratherm, and Clariant

Key Benefits For Stakeholders:

• The heat transfer fluid market size has been analyzed across all regions.
• Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for building strategies.
• The report outlines the current market trends and future scenario of the market from 2018 to 2026 to understand the prevailing opportunities and potential investment pockets. The market is forecasted for 2019–2026.
• Major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, and market opportunities and their detailed impact analysis are elucidated in the study.
• The market analysis covers in-depth information of major industry participants.