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Global Heat Transfer Fluids Market was valued US$ XX Bn in 2019 and expected to reach US$ XX Bn by 2027, at a CAGR of XX% during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
There has been rapid industrialization in the Asia Pacific region, especially in the manufacturing sector comprising chemical, automotive, oil and gas, and metal processing industries. However, government regulations across emerging and developed economies in-line with the Environment Protection Act is expected to hinder market growth over the forecast period.
Based on the heat transfer fluid type, the mineral oils segment is expected to dominate the market in 2017, owing to, it is progressively being used in chemical manufacturing processes, pharmaceutical, refrigeration, CSP generation and geothermal energy applications.
On the other hand, the silicones & aromatics segment is expected to hold the major market shares in heat transfer fluid market during forecast period. This growth is attributed to the continuously increasing demand for synthetic thermal oils from oil & gas and chemical industries.
Based on the end-user industries, the chemical processing industries are the leading end-use industries for the heat transfer fluids market. Followed by oil & gas industries. Owing to, increasing use of heat transfer fluid for energy recovery and heat recovery plays an increasing role in the chemical industry operations. Furthermore, increasing oil and gas operations in onshore and offshore production processes across Africa, Asia Pacific and North America is expected to dominate the oil and gas segment during forecast period. In renewable energy applications, heat transfer fluids are driven by the increasing installations of solar power plants such as CSP plants and solar thermal energy systems.
Geographically, the Asia Pacific region is expected to dominate heat transfer fluids market in 2017 and is projected to keep its dominance throughout the forecast period. The growth of this region is attributed to, its lower dependence on imports, increasing production capacity, growing population, and improved standard of living. Further, increasing installations of solar power projects such as CSP and also rising chemical and processing industry are expected to boost the market growth in the upcoming years.
The Europe is expected to accounts largest share in the global heat transfer fluids market, owing to the growing energy sector, and growing population, driven by the accrued energy demand. Germany and Spain account for prominent market shares in the Europe region, owing to the growing industrial expansion in these countries.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global heat transfer fluids market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, report also focuses on competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in near future to emerging segment in global heat transfer fluids market.
Scope of Global Heat Transfer Fluids Market
Global Heat Transfer Fluids Market, By Type
• Mineral Oils
• Silicones & Aromatics
Global Heat Transfer Fluids Market, By End-Use industries
• Oil & Gas
• Chemicals & Processing
• Renewable energy
• Food & Beverage
Global Heat Transfer Fluids Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operating in Global Heat Transfer Fluids Market
• Exxon Mobil
• Global Heat Transfer
• Royal Dutch Shell plc.
• Phillips 66
• Schultz Canada Chemicals Ltd.
• Radco Industries
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