Global Heat Transfer Fluids Market, 2024-2030

Heat transfer fluid is a gas or liquid which used to maintain the temperature in the system by circulating or transferring heat from one end to other end of the system. These fluids can be referred as coolant and are used to reduce or regulate the system temperature. It offers key performance characteristics such as low viscosity, non-corrosive nature, high thermal conductivity & diffusivity, and extreme phase transition temperatures. Heat transfer fluid mainly categories as, mineral oils, synthetic aromatics & silicones, and glycols. Synthetic aromatics promises higher thermal stability, superior radiation resistance, and better durable properties than others fluids. It also enhanced lubricity at different temperatures. The mineral oils operate with 320C whereas synthetic at 400C.The mineral oils mostly originated from petroleum/crude oils.

Heat transfer fluids are commonly used in air conditioners, refrigerators, and heat pumps mainly in end-use industries, such as chemical, oil, gas & bio-diesel production industries, automotive, pharmaceuticals, renewable energy, and HVAC.

The global heat transfer fluids market research report sheds light on the market circumstances by carrying out primary and secondary research for more than 320 hours. As per the report, the global heat transfer fluids market is growing at a fast pace and increasing its geographical footprint rapidly. The global heat transfer fluids market is valued at US $ xxx million dollars in 2019 which is forecast to grow at CAGR of xx% and reach a massive US $ xxx million dollars by the end of 2024 in value.

The growth is comparatively higher in Asia Pacific region due high population, urbanization and energy conservation increase the demand of heat transfer fluids. Also, expansion of end user industry such as, automotive, chemical, oil & gas, CSP, bio-diesel production, HVAC, and refrigeration industries drive the market majorly in this region. The major growth driver for heat transfer fluids market globally are the rapid adoption of concentrated solar power and the adoption of energy transfer devices such as heat exchangers and heat pumps.

Stringent regulations regarding usage of products due to rising environmental concerns may the major impediments to the expansion of global heat transfer fluids market. Also, the risk of explosion, toxicity and biodegradability of these fluids may restrict the heat transfer fluids market globally.

Heat transfer fluids enjoy wide usage across all major regions in the world including Europe, APAC, North America, Middle East, Africa, and Latin America. These regions serve large number of manufacturers and supplier and are hence responsible for the growth of heat transfer fluids market globally. The companies that lead global heat transfer fluids market are The Dow Chemical Company, Honeywell International Inc., Huntsman Corporation, Chevron Corporation, ConocoPhillips, BASF SE, Exxon Mobil Corporation, Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited, Indian Oil Corporation Ltd., ExxonMobil, Eastman Chemical Company, LANXESS, Global Heat Transfer Ltd, Royal Dutch Shell PLC., Schultz Canada Chemicals, Ltd., Paratherm, and Clariant AG.

Research Methodology

The research process includes the market segmentation of the global heat transfer fluids market, identifying the growth determinants of every market segment and market forecasts. The primary source from the supply side includes industry experts, CEOs, vice president, directors, and key executives of various industry players. The primary source from demand side includes marketing manager and experts from various application industries. Market Krystal held more than 40 interviews for this study, details of which are mentioned

By company type:

Manufacturers (35%), Suppliers (25%), Consumers (20%), Researchers (10%), Independent industry consultant (10%)

By geography:

North America (25%), Asia (40%), Europe (20%), Rest of the World (15%)

By designation:

Top level (40%), Operation level (20%), Mid-level (40%)

Contents of the report:

• Insights on the global heat transfer fluids industry dynamics
• Estimation of the present global heat transfer fluids market size in terms of value and volume
• Global heat transfer fluids market breakup based on type and application.
• Verified global heat transfer fluids market forecast for the next five years.
• In depth analysis of the leading companies working across different nodes of global heat transfer fluids industry value chain.