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Analysis of the Global Heat Transfer Fluids Market, Forecast to 2025

Analysis of the Global Heat Transfer Fluids Market, Forecast to 2025

Heat transfer fluids are integral to the smooth operations of equipment and systems in various end-industries including chemicals, oil & gas, and concentrated solar power (CSP). Fluids that are used to transfer heat from one point to another for either heating or cooling of components and parts of systems in these industries are collectively called heat transfer fluids in this study.

The heat transfer fluids market in this study is analyzed for end-users including chemicals, oil & gas, plastics and rubber, automotive and transportation, pharmaceuticals, food and beverages, and CSP. The major product types considered include hydrocarbon oils (mineral oil and synthetic aromatic fluids), glycol (as low-temperature heat transfer fluids in other industries and anti-freeze/coolants in automotive and transportation), silicones, and others (CFCs, HCFC, molten salts, and other phase change materials). The market is analyzed for the demand for heat transfer fluids in major regions such as North America (United States and Canada), Europe (EU-28), India, Rest of Asia Pacific, Middle East, and Rest of World (ROW). Heat transfer fluids are selected for an application based on a variety of requirements such as operating temperature, durability, environmental sustainability, use on closed-loop versus open-loop systems, corrosion resistance, resistance to fuels and other chemicals, stability under various pressure conditions, and resistance to humidity. The requirements vary depending on the end application.

Asia Pacific including India is the largest market for heat transfer fluids with high growth anticipated in China, India, and Southeast Asia for both first fill and refill markets. This is mainly owing to the significant growth of the various end-industries in this region with changing market dynamics. The heat transfer fluids market in Europe is slowing down owing to more established and standardized practices. North America is another high-growth region with significant demand growth anticipated from the oil & gas, chemicals, and plastics and rubber sectors. Middle East, along with few countries of Asia and Europe, has great potential for growth in the CSP market.

The market for heat transfer fluids is greatly impacted by mega trends such as economic slowdown in key markets and countries and changing environmental regulations mandating the use of lower-toxicity heat transfer fluids, especially in applications where the probability of spillage is high or where there is an open-loop system. However, the market growth in the coming few years may benefit from the increasing use of advanced heat transfer fluids based on synthetic aromatics and silicones that are priced higher than the conventional fluids.

The heat transfer fluids market is highly competitive and has the presence of large and global manufacturers. The competitive environment is highly skewed towards the larger participants who increasingly engage in mergers and acquisitions and joint ventures among themselves and other smaller companies to acquire new products, technologies and market shares due to which the market points towards further consolidation in the coming few years. Manufacturers engage in continuous product development activities based on the changing market needs and regulatory environments. By establishing long-term relationships with their customers, manufacturers try to ensure that they are equally proactive and reactive to the various requirements of this industry.


  • Executive Summary
    • Key Findings
    • Strategic Factsheet
    • Market Engineering Measurements
    • CEO's Perspective
  • Market Overview
    • Market Definitions
    • Geographic Scope
    • Market Definitions
    • Key Questions this Study will Answer
    • Market Segmentation
  • Drivers and Restraints-Total Heat Transfer Fluids Market
    • Market Drivers
    • Drivers Explained
    • Market Restraints
    • Restraints Explained
  • Forecasts and Trends-Total Heat Transfer Fluids Market
    • Market Engineering Measurements
      • Table Total Heat Transfer Fluids Market: Market Engineering Measurements, Global, 2018
    • Forecast Assumptions
    • Revenue Forecast
      • Table Total Heat Transfer Fluids Market: Revenue Forecast, Global, 2015-2025
    • Volume Shipment Forecast
      • Table Total Heat Transfer Fluids Market: Volume Shipment Forecast, Global, 2015-2025
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Total Heat Transfer Fluids Market: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Total Heat Transfer Fluids Market: Volume Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Percent Revenue Forecast by Vertical Market
    • Revenue Forecast by Vertical Market
      • Table Total Heat Transfer Fluids Market: Revenue Forecast by Vertical Market, Global, 2015-2025
    • Percent Volume Shipment Forecast by Vertical Market
    • Volume Shipment Forecast by Vertical Market
      • Table Total Heat Transfer Fluids Market: Volume Shipment Forecast by Vertical Market, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Vertical Market
    • Percent Revenue Forecast by Product Type
    • Revenue Forecast by Product Type
      • Table Total Heat Transfer Fluids Market: Revenue Forecast by Product Type, Global, 2015-2025
    • Percent Volume Shipment Forecast by Product Type
    • Volume Shipment Forecast by Product Type
      • Table Total Heat Transfer Fluids Market: Volume Shipment Forecast by Product Type, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Product Type
    • Value Chain
    • Value Chain Description
  • Market Share and Competitive Analysis-Total Heat Transfer Fluids Market
    • Market Share Analysis by Product Type
    • Market Share Discussion by Product Type
    • Competitive Environment
    • Competitive Factors and Assessment
    • Product Matrix
  • Growth Opportunities and Companies to Action
    • Growth Opportunity 1-Rising Focus on Renewable Energy Favoring the Growth of the Heat Transfer Fluids Market
    • Growth Opportunity 2-Favorable Government Policies Driving Growth of Key End-Industries in India
    • Strategic Imperatives for Success and Growth
  • Vertical Market Analysis-Chemicals
    • Key Findings
    • Market Engineering Measurements
      • Table Heat Transfer Fluids Market in Chemical Industry: Market Engineering Measurements, Global, 2018
    • Volume Shipment and Revenue Forecast
      • Table Heat Transfer Fluids Market in Chemical Industry: Volume Shipment and Revenue Forecast, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion
    • Pricing Trends and Forecast
      • Table Heat Transfer Fluids Market in Chemical Industry: Average Price Forecast, Global, 2015-2025
    • Pricing Trends and Forecast Discussion
    • Percent Revenue Forecast by Product Type
    • Percent Volume Shipment Forecast by Product Type
    • Percent Volume Shipment and Revenue Forecast Discussion by Product Type
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Heat Transfer Fluids Market in Chemical Industry: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Heat Transfer Fluids Market in Chemical Industry: Volume Shipment Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Competitive Environment
  • Vertical Market Analysis-Oil & Gas
    • Key Findings
    • Market Engineering Measurements
      • Table Heat Transfer Fluids Market in Oil & Gas Industry: Market Engineering Measurements, Global, 2018
    • Volume Shipment and Revenue Forecast
      • Table Heat Transfer Fluids Market in Oil & Gas Industry: Volume Shipment and Revenue Forecast, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion
    • Pricing Trends and Forecast
      • Table Heat Transfer Fluids Market in Oil & Gas Industry: Average Price Forecast, Global, 2015-2025
    • Pricing Trends and Forecast Discussion
    • Percent Revenue Forecast by Product Type
    • Percent Volume Shipment Forecast by Product Type
    • Percent Volume Shipment and Revenue Forecast Discussion by Product Type
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Heat Transfer Fluids Market in Oil & Gas Industry: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Heat Transfer Fluids Market in Oil & Gas Industry: Volume Shipment Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Competitive Environment
  • Vertical Market Analysis-Automotive and Transportation
    • Key Findings
    • Market Engineering Measurements
      • Table Heat Transfer Fluids Market in Automotive and Transportation Industry: Market Engineering Measurements, Global, 2018
    • Volume Shipment and Revenue Forecast
      • Table Heat Transfer Fluids Market in Automotive and Transportation Industry: Volume Shipment and Revenue Forecast, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion
    • Pricing Trends and Forecast
      • Table Heat Transfer Fluids Market in Automotive and Transportation Industry: Average Price Forecast, Global, 2015-2025
    • Pricing Trends and Forecast Discussion
    • Percent Volume Shipment and Revenue Forecast by Product Type
    • Percent Volume and Revenue Shipment Forecast Discussion by Product Type
    • Percent Revenue Forecast by Vehicle Type
    • Percent Volume Shipment Forecast by Vehicle Type
    • Volume Shipment and Revenue Forecast Discussion by Vehicle Type
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Heat Transfer Fluids Market in Automotive and Transportation Industry: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Heat Transfer Fluids Market in Automotive and Transportation Industry: Volume Shipment Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Competitive Environment
  • Vertical Market Analysis-Food and Beverage
    • Key Findings
    • Market Engineering Measurements
      • Table Heat Transfer Fluids Market in Food and Beverage Industry: Market Engineering Measurements, Global, 2018
    • Volume Shipment and Revenue Forecast
      • Table Heat Transfer Fluids Market in Food and Beverage Industry: Volume Shipment and Revenue Forecast, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion
    • Pricing Trends and Forecast
      • Table Heat Transfer Fluids Market in Food and Beverage Industry: Average Price Forecast, Global, 2015-2025
    • Pricing Trends and Forecast Discussion
    • Percent Revenue Forecast by Product Type
    • Percent Volume Shipment Forecast by Product Type
    • Percent Volume Shipment and Revenue Forecast Discussion by Product Type
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Heat Transfer Fluids Market in Food and Beverage Industry: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Heat Transfer Fluids Market in Food and Beverage Industry: Volume Shipment Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Competitive Environment
  • Vertical Market Analysis-Concentrated Solar Power (CSP)
    • Key Findings
    • Market Engineering Measurements
      • Table Heat Transfer Fluids Market in CSP Industry: Market Engineering Measurements, Global, 2018
    • Volume Shipment and Revenue Forecast
      • Table Heat Transfer Fluids Market in CSP Industry: Volume Shipment and Revenue Forecast, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion
    • Pricing Trends and Forecast
      • Table Heat Transfer Fluids Market in CSP Industry: Average Price Forecast, Global, 2015-2025
    • Pricing Trends and Forecast Discussion
    • Percent Revenue Forecast by Product Type
    • Percent Volume Shipment Forecast by Product Type
    • Percent Volume Shipment and Revenue Forecast Discussion by Product Type
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Heat Transfer Fluids Market in CSP Industry: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Heat Transfer Fluids Market in CSP Industry: Volume Shipment Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Competitive Environment
  • Vertical Market Analysis-Plastics and Rubber
    • Market Overview
    • Market Engineering Measurements
      • Table Heat Transfer Fluids Market in Plastics and Rubber Industry: Market Engineering Measurements, Global, 2018
    • Volume Shipment and Revenue Forecast
      • Table Heat Transfer Fluids Market in Plastics and Rubber Industry: Volume Shipment and Revenue Forecast, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion
    • Pricing Trends and Forecast
      • Table Heat Transfer Fluids Market in Plastics and Rubber Industry: Average Price Forecast, Global, 2015-2025
    • Pricing Trends and Forecast Discussion
    • Percent Revenue Forecast by Product Type
    • Percent Volume Shipment Forecast by Product Type
    • Percent Volume Shipment and Revenue Forecast Discussion by Product Type
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Heat Transfer Fluids Market in Plastics and Rubber Industry: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Heat Transfer Fluids Market in Plastics and Rubber Industry: Volume Shipment Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Competitive Environment
  • Vertical Market Analysis-Pharmaceuticals
    • Market Overview
    • Market Engineering Measurements
      • Table Heat Transfer Fluids Market in Pharmaceuticals Industry: Market Engineering Measurements, Global, 2018
    • Volume Shipment and Revenue Forecast
      • Table Heat Transfer Fluids Market in Pharmaceuticals Industry: Volume Shipment and Revenue Forecast, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion
    • Pricing Trends and Forecast
      • Table Heat Transfer Fluids Market in Pharmaceuticals Industry: Average Price Forecast, Global, 2015-2025
    • Pricing Trends and Forecast Discussion
    • Percent Revenue Forecast by Product Type
    • Percent Volume Shipment Forecast by Product Type
    • Percent Volume Shipment and Revenue Forecast Discussion by Product Type
    • Percent Revenue Forecast by Region
    • Revenue Forecast by Region
      • Table Heat Transfer Fluids Market in Pharmaceuticals Industry: Revenue Forecast by Region, Global, 2015-2025
    • Percent Volume Shipment Forecast by Region
    • Volume Shipment Forecast by Region
      • Table Heat Transfer Fluids Market in Pharmaceuticals Industry: Volume Shipment Forecast by Region, Global, 2015-2025
    • Volume Shipment and Revenue Forecast Discussion by Region
    • Competitive Environment
  • The Last Word
    • The Last Word-3 Big Predictions
  • Appendix
    • Market Engineering Methodology
    • Abbreviations and Acronyms Used

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