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Heat Transfer Fluids Market to Register USD 4.52 billion by 2028 with Healthy CAGR 6.86%

The heat transfer fluids market is expected to witness market growth at a rate of 6.86% in the forecast period of 2021 to 2028 and is expected to reach USD 4.52 billion by 2028. Data Bridge Market Research report on heat transfer fluids market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing awareness regarding energy conservation is escalating the growth of heat transfer fluids market.

Heat transfer fluids refer to liquid and gas manufactured for the transmission of heat from one unit to another. The fluids are produced from highly refined petroleum, siloxanes or synthetically formulated hydrocarbons. It is extensively utilized for cooling agent to prevent device from overheating. It is known to have viscosity higher than water. It offers low maintenance, safety and extended operating lifetimes.

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The utilization of heat transfer fluids which are industrial products derived from petroleum sources to prevent overheating and for the storage of thermal energy and the increasing demand for product owning to its low viscosity, non-corrosive nature, high thermal conductivity and diffusivity and extreme phase transition temperatures are the major factors driving the heat transfer fluids market. The crucial components used to improve the efficiency of concentrated solar power plants, their important role in the collection of energy from the solar field and transport it to the energy storage systems and increasing scope of CSP and its competitive advantages over other renewable energy sources accelerate the heat transfer fluids market growth. The captive consumption of these thermal oils by manufacturers, shift toward bio-based thermic oils to comply with government regulations and increasing trend of CSP plants as they have capabilities to add storage capacity influence the heat transfer fluids market. Additionally, the utilization of the oil and gas industry, development of shale resources, and investments in research and development activities positively affect the heat transfer fluids market. Furthermore, high growth potential of bio-based HTFs and rising need for energy conservation extend profitable opportunities to the heat transfer fluids market players in the forecast period of 2021 to 2028.

Competitive Landscape and Heat Transfer Fluids Market Share Analysis

The heat transfer fluids market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to heat transfer fluids market.

The major players covered in the heat transfer fluids market report are DOW, Eastman Chemical Company, Exxon Mobil Corporation, Chevron Corporation, Huntsman International LLC, Royal Dutch Shell, LANXESS, PARATHERM, Clariant, Schultz, Arkema, BASF SE, bp p.l.c., Dalian Richfortune Chemicals Co., Ltd., DuPont, Tate & Lyle Bio Products., Dynalene, Inc., Global Heat Transfer, HPCL, Indian Oil Corporation Ltd, ISEL, Paras Lubricants Ltd., Suncor Energy Inc., Phillips 66, Radco Industries, Inc., Sasol, Schaeffer Manufacturing Co., Solvay among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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On the other hand, the rise in concerns regarding fire and explosion hazards and the implementation of stringent regulations are the factors expected to obstruct the heat transfer fluids market growth. The fluctuation in raw material prices is projected to challenge the heat transfer fluids market in the forecast period of 2021 to 2028.

This heat transfer fluids market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on heat transfer fluids market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Heat Transfer Fluids Market Scope and Market Size

The heat transfer fluids market is segmented on the basis of product and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.

  • On the basis of product, the heat transfer fluids market is segmented into silicone and aromatics, mineral oils, glycol-based fluids and others.
  • On the basis of application, the heat transfer fluids market is segmented into oil and gas, chemical, concentrated solar power (CSP), food and beverages, plastics, pharmaceuticals, heating, ventilating and air conditioning (HVAC) and others.

Global Heat Transfer Fluids Industry Segmentation Analysis:

This assessment has been carried out on the basis of size, share, and CAGR. Additionally, regional analysis has been done by the experts stressing the growth potential of the key regions and countries. The report also encompasses accurate and reliable figures based on the Heat Transfer Fluids consumption and production in key regions.

The Geographical assessment of the Heat Transfer Fluids market is:

North America (United States, Canada, North American countries and Mexico),

Europe (Germany, France, UK, Russia, and Italy),

Asia-Pacific (China, Japan and Korea, Asian nation, India and Southeast Asia),

South America (Brazil, Argentina, Republic of Colombia, etc.),

Middle East & Africa (Saudi Arabian Peninsula, UAE, Egypt, Nigeria, and South Africa)

The new study report gives a systematic and descriptive approach to the global Heat Transfer Fluids market. It constructs industry dynamics, the overall extent of growth in distinct segments, regions as well as various other parameters that have been immensely effective in enlarging the industry size and value. Therefore, this document aimed at delivering a clear perspective of all possible conditions and structures in the global Heat Transfer Fluids market.

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About Data Bridge Market Research:

Data Bridge Market Research is a multinational management consulting firm with offices in India and Canada. As an innovative and neoteric market analysis and advisory company with unmatched durability levels and advanced approaches. We are committed to uncovering the best consumer prospects and fostering useful knowledge for your company to succeed in the market.

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