U.S. heat transfer fluids market volume by product, 2012-2022 (Kilo Tons)
San Francisco,
25 September 2018, Global HeatTransfer Fluids Market is expected to reach USD 3.68 billion
by 2022, according to a new study by Grand View Research, Inc. Imminent need to
manage excessive heat in several manufacturing industries including automotive,
metal processing, pharmaceuticals, and food processing is a major factor
driving heat transfer fluid demand across the globe. Surging requirement for
application specific fluids with optimum thermal coefficient is also
anticipated to fuel industry growth over the forecast period. Rapid
industrialization in BRICS markets is expected to help in market development
over the forecast period.
Stringent environment regulations coupled
with volatile raw material prices are expected to pose threat to industry
profitability. Development of bio-based or water-based heat transfer fluids is
anticipated to create lucrative opportunities for industry participants.
Silicone & aromatics formed the largest
product segment with demand share exceeding 40% in 2014. The segment is
expected to gain share over next seven years on account of increasing
requirement for synthetic thermal oils in these applications is expected
to drive the product market over the forecast period. Glycols are expected to
witness maximum gains in its market size over the forecast period on account of
excellent antifreeze properties.
Full
Research Report On Heat Transfer Fluids Market Analysis:
www.grandviewresearch.com/industry-analysis/heat-transfer-fluids-market
www.grandviewresearch.com/industry-analysis/heat-transfer-fluids-market
Further key findings from the study suggest:
·
Global heat transfer fluids market demand
was 465.9 kilo tons in 2014 and is expected to reach 745.3 kilo tons by 2022,
growing at a CAGR of 6.1% from 2015 to 2022
·
Oil & gas was the leading application
segment and accounted for 23.8% of total market volume in 2014. HTF demand in
this segment is expected to witness a modest growth over the forecast period.
Increasing use of heating oil in offshore oil & gas thermal processes is
anticipated to fuel market growth.
·
CSP is expected to witness significant
gains in its size over the forecast period on account of growing energy demand
and favorable government initiatives particularly in Spain, U.S. and Middle
East.
·
Europe was the largest regional market and
accounted for over 30% of global demand in 2014. Power and energy sector is
highly active in these regions owing to high energy requirements from
industrial sectors. Large scale urbanization coupled with increased usage of
automobiles is expected to steer the demand for coolants and other heat
transfer fluids.
·
Asia Pacific is expected to witness the
highest growth of 7.0% from 2015 to 2022 on account of growing chemical and
food & beverage industry in China, India and Indonesia.
·
Major companies operating in global heat
transfer fluids market include Dow Chemicals, Shell, ExxonMobil, Eastman
Company, BASF, Huntsman Corporation, Chevron Corporation.
Browse
More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
Grand View Research has segmented the heat transfer fluids market on the
basis of product, application and region:
Global Heat Transfer Fluids Product Outlook
(Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
Silicone & Aromatics
·
Mineral Oils
·
Glycol-Based Fluids
·
Others
Global Heat Transfer Fluids Application
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
Oil & Gas
·
Chemical
·
Concentrated Solar Power (CSP)
·
Food & Beverages
·
Plastics
·
Pharmaceuticals
·
Heating, Ventilating & Air Conditioning
(HVAC)
·
Others
Global Heat Transfer Fluids Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2022)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
Germany
o
UK
·
Asia Pacific Middle East & Africa
o
China
o
India
o
Japan
·
Central & South America
Access Full
Press Release of this Report:
www.grandviewresearch.com/press-release/global-heat-transfer-fluids-market
www.grandviewresearch.com/press-release/global-heat-transfer-fluids-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
