Global Heat Transfer Fluids market 2024-2030

Heat transfer fluids are the materials that convey heat from one component to another component. They may be in the form of a liquid or the form of gas. This process is done for either heating/cooling or to maintain a required temperature of a matter. There are various types of heat transfer fluids like hydrocarbon oils, refrigerants, glycol/water mixtures, water, air, and silicones.

It is generally used for heating, metalworking, and machine cooling applications. They are used to transfer heat from one matter to another. Many of the heat transfer fluids and thermal oils are consumed to circulate process heaters, chillers or coolers between a heat emanating source and heat sink.

The most significant types of heat transfer fluid used are silicones and aromatics in the global market. They have the highest level of demands due to calls from end use industries such as oil and gas, chemical processing and automotive. Other types of markets are glycol and mineral oils etc.

The report on global heat transfer fluids market shows insights on the current market scenario by conducting over 280 hours of primary and secondary research. As per the report, global heat transfer fluids market is growing its area and effective sphere of influence very fast and is gaining popularity. In 2018, the evaluated market valuation for global heat transfer fluids was US $ xxx billion. It has been anticipated to reach a market valuation of US $xxx billion by 2023. It is expected to register a CAGR of xx %.

The construction industry makes the highest demand for heat transfer fluid. The End-Use sectors are hiking the requirements as well. Also, food and beverages firms, automotive are in high need for such technologies. There are certain groups where the demand remains high for such materials like the manufacturers and suppliers of heat transfer fluids, an industry association, market research, and consulting firms et cetera.

The heat transfer fluids and its various technologies are comparatively costlier. This may be one cause for its slow growth during the forecasted period.

The rapid growing and the enormous heat transfer fluid's market is the region of Asia Pacific due to their fast advancement policies. Also, there is a real demand in Europe, North America, South America.

The key companies of heat transfer fluids in the global market are Dow (USA), Eastman (USA), Exxon Mobil ( US), Chevron, Paratherm (US), BASF (Germany), Lanxess (Germany), Huntsman (US), Global Heat Transfer (US).

The research procedure starts with the bifurcation of different market segments of global heat transfer fluids market, followed by detection of factors affecting the growth each segment. Then, the market forecasts were built based on the inputs given by the business leaders across global heat transfer fluids industry value chain. Market Krystal held more than 40 interviews for this study, details of which are mentioned:

By company type:

Manufacturers (35%), Suppliers (35%), Consumers (10%), Researchers (10%), Independent industry consultant (10%)

By geography:

North America (35%), Asia (30%), Europe (35%)

By designation:

Top level (40%), Operation level (30%), Mid-level (30%)

Contents of the report:

• Insights on the global heat transfer fluids industry dynamics
• Current estimation of the global heat transfer fluids market size in terms of value and volume
• Global heat transfer fluids market breakup based on product type and application.
• Authenticated global heat transfer fluids market forecast for the next five years
• Thorough analysis of the key companies operating across different nodes of global Heat transfer fluids industry value chain.