Global Heat Transfer Fluids Market is expected to rise to an estimated value of USD 3.96 billion by 2026, registering a CAGR of 6.3% in the forecast period of 2019-2026. This rise in demand for heat transfer fluids in oil & gas, chemical processing, and automotive industries is attributing towards its increase in growth of the market.
Heat Transfer Fluids can be defined as any liquid and gas manufactured for the transmission of heat from unit to another. It is produced from highly refined petroleum, siloxanes or synthetically formulated hydrocarbons. It is mainly used for cooling agent to prevent device from overheating. It can have viscosity higher than water. It provides low maintenance, safety and extended operating lifetimes.
Major Key players profiled in this report are:
Exxon Mobil Corporation, The Dow Chemical Company, Chevron Corporation , BASF SE , Paratherm ., Huntsman International LLC. , LANXESS , Houston Global Heat Transfer, LLC , Phillips 66 Company , Royal Dutch Shell PLC, ARKEMA ,Radco Industries, Inc., and Schultz .
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Major Market Drivers:
- High demand for heat transfer fluid in asphalt industries is leading to the growth of the market.
- Increasing demand of energy driven by the renewable sources is raising the growth of the heat transfer fluid market.
- Government regulation is a major restrain for the growth of the heat transfer fluids
- Fire and explosion hazards is restraining the demand for heat transfer fluids
Segmentation: Heat Transfer Fluids
- By Product
- Silicone & Aromatics
- Mineral Oils
- Glycol-Based Fluids
- By Application
- Oil & Gas
- Concentrated Solar Power (CSP)
- Food & Beverages
- North America
- South America
- Rest of South America
- United Kingdom
- South Korea
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
For a powerful business growth, companies must take up Heat Transfer Fluids research report service which has become enough essential in this rapidly altering marketplace. Competitive analysis covered in this market report helps to get ideas about the strategies of key players in the market. This report analyzes the market status, growth rate, future trends, market drivers, opportunities, challenges, entry barriers, risks, sales channels, and distributors.
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