Heat Transfer Fluids Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

Heat transfer fluid is widely consumed in industries for several applications ranging from a simple static design to advanced multisystem performing several functions in a chemical or oil & gas industries. It is used to maintain the required temperature in the industrial process. Water is the most common type of heat transfer fluid, however, in several cases engineered heat transfer fluid is used over water due to its better freezing and boiling temperature. This report covers only the engineered heat transfer fluid only. Industries like chemical, oil & gas, food & beverage, pharmaceutical, renewable, automotive, and HVAC-R, among others are among the largest consumer of engineered heat transfer fluid. Further, greater control, accuracy, and homogeneity can be achieved in the heating or cooling process with heat transfer fluid, therefore in many cases, it is considered over the direct heat process. As global industrial operations are growing, the consumption of heat transfer fluid is likely to increase. For instance, the global chemical industry reached a market size of over USD 4 trillion in 2018 from around USD 3.1 trillion in 2010. However, the industry witnessed a downfall in 2019 and 2020 owing to supply chain constraints, COVID-19, raw material price fluctuation, and low growth in the end-use industry.

According to UnivDatos Market Insights (UMI)’ research report “Global Heat Transfer Fluids Market”, the market is expected to showcase a growth of around 4% during the forecast period. Improving heat transfer fluids performance, application in large number of industrial process, and helps in improving industrial operational efficiency are some of the key attributable factors to the growth of the market.

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Based on type, the market is categorized into mineral oils, synthetic fluids, glycols, and others. During the forecast period, synthetic fluids are likely to showcase considerable growth. This can be ascribed to its property of showing better thermal degradation resistance at high temperatures. This helps in protecting against thermal degradation in case the upper operating temperature is exceeded. Owing to this, industries are increasingly adopting synthetic fluids.

Based on industry, the market is categorized into chemical, oil & gas, food & beverage, pharmaceuticals, renewables, automotive, HVAC-R, and others. Of these, the renewable segment is likely to showcase robust growth during the forecast period owing to increasing investment in the renewable sector including CSP. Countries across the globe have set the target to increase the renewable share in the overall country energy mix. Thus, it is expected that with the increasing number of CSP projects, the consumption of heat transfer fluids in the renewable sector is likely to increase.

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Asia-Pacific accounted for a considerable share of the heat transfer fluids market

The large base of chemical, oil & gas, automotive, HVAC-R, renewables, and food & beverage industries among others, helped the Asia-Pacific region to attain a prominent position in the heat transfer fluid market. Further, international companies are shifting their manufacturing bases in the region to take the benefits of government policies related to promoting industrialization. Further, companies are expanding their pre-existing facilities in the region as they are finding huge growth potential in the regional economies. Moreover, rising investment in renewable industry in countries like China, India, Japan, and South Korea is increasing the CSP installation. Owing to such factors, demand for heat transfer fluid is likely to grow manifold in the foreseeable future.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Heat Transfer Fluids market include Eastman Chemical Company, Dow Inc., Exxon Mobil Corporation, Chevron Corporation, Huntsman Corporation, Royal Dutch Shell plc, Lanxess AG, Clariant AG, BP plc, and Paratherm. These companies are taking several strategic decisions to meet the growing demand and increase their market share.

“Global Heat Transfer Fluids Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.   

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Market Segmentation:

1. By Type (Mineral Oils, Synthetic Fluids, Glycols, and Others)
2. By Industry (Chemical, Oil & Gas, Food & Beverage, Pharmaceuticals, Renewables, Automotive, HVAC-R, and Others)
3. By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
4. By Company (Eastman Chemical Company, Dow Inc., Exxon Mobil Corporation, Chevron Corporation, Huntsman Corporation, Royal Dutch Shell plc, Lanxess AG, Clariant AG, BP plc, and Paratherm)

Key questions answered in the study:

1. What are the current and future trends of the global heat transfer fluids industry?
2. How the industry has been evolving in terms of type and industry?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global heat transfer fluids industry?
5. What are the customer orientation, purchase behavior, and expectations from the global heat transfer fluids suppliers across various region and countries?

Table of Content –

1. MARKET INTRODUCTION
2. RESEARCH METHODOLOGY OR ASSUMPTION
3. MARKET SYNOPSIS
4. EXECUTIVE SUMMARY
5. GLOBAL HEAT TRANSFER FLUIDS MARKET COVID-19 IMPACT
6. GLOBAL HEAT TRANSFER FLUIDS MARKET REVENUE (USD MN), 2019-2027F
7. MARKET INSIGHTS BY TYPE
8. MARKET INSIGHTS BY INDUSTRY
9. MARKET INSIGHTS BY REGION
10. HEAT TRANSFER FLUIDS MARKET DYNAMICS
11. HEAT TRANSFER FLUIDS MARKET OPPORTUNITIES
12. HEAT TRANSFER FLUIDS MARKET TRENDS
13. LEGAL & REGULATORY FRAMEWORK
14. DEMAND AND SUPPLY-SIDE ANALYSIS
15. VALUE CHAIN ANALYSIS
16. COMPETITIVE SCENARIO
17. COMPANY PROFILED
18. DISCLAIMER