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Silicone & aromatics product segment in heat transfer fluid market are estimated to generate over 375 kilo tons by 2024. Superior thermal stability, chemical & abrasion resistance when exposed to high temperature and oxidation conditions will drive the product demand. Rising demand from flow control, electronic, pressure and temperature control applications will support industry growth.Glycol based heat transfer fluid market was worth over USD 310 million in 2016. Rising demand from food processing and pharmaceutical industry owing to its antifreeze properties will propel the product demand. Low environmental impacts, high thermal stability, energy & cost efficiency are the key properties driving the industry growth.
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Oil & gas application accounted for more than 23% of overall heat transfer fluid market share in 2016. Increasing product usage in offshore oil & gas production will fuel the product demand. Rising demand for petroleum-based products along with increasing number of LNG terminals will drive the business growth.
Concentrated solar power (CSP) is anticipated to witness growth over 7.5% up to 2024. Growth in CSP industry along with government promotions for renewable energy sources will drive the heat transfer fluid market size. Global installed capacity of CSP was over 5,000 MW in 2016.
Global heat transfer fluid market share is highly consolidated as the top five players account for around 75% of the industry share. Eastman Company, Dow Chemicals, Shell, British Petroleum and Exxon Mobil are the major industry players. Dow Chemicals dominate the industry accounting for over 28% in 2016. Mergers & acquisitions, collaborations, new product launches and capacity expansion are the major strategies observed.
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Europe heat transfer fluid market was valued over USD 750 million in 2016. Stringent environmental and energy regulations coupled with emergence of bio-based products will fuel the industry growth. Increasing manufacturer focus on energy conservation and sustainable products will propel the industry demand.
Asia Pacific will witness growth over 7% up to 2024. Increasing manufacturing facilities in oil & gas, chemical, and food & beverages industry coupled with government support will drive the business growth. Favorable policies for CSP installations along with government initiatives on solar based power generation will support the heat transfer fluid market.
Browse key industry insights spread across 220 pages with 141 market data tables & 10 charts & figures from the report, “Heat Transfer Fluid Market Size By Product (Silicones & Aromatics, Minerals Oils, Glycol), By Application (Oil & Gas, Chemical Industry, Concentrated Solar Power (CSP), Food & Beverages, Plastics, Pharmaceuticals, HVAC) Industry Analysis Report, Regional Outlook (U.S, Canada, Mexico, Germany, UK, France, Italy, China, India, Japan, Saudi Arabia, Kuwait, UAE, Argentina, Venezuela, Brazil), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/heat-transfer-fluid-market
Table of Contents (ToC) of the report:
Chapter 4. Heat Transfer Fluid Market, By Product
4.1. Global market share by product, 2016 & 2024
4.2. Silicones & aromatics
4.2.1. Market estimates and forecast, 2013 - 2024
4.2.2. Market estimates and forecast, by region, 2013–2024
4.3. Mineral oils
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4. Glycol
4.4.1. Market estimates and forecast, 2013 - 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5. Others
4.5.1. Market estimates and forecast, 2013 - 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
Browse Full Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/heat-transfer-fluid-market
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