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Thermal Oil Heaters Market to Undertake Strapping Growth During 2016 - 2026
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Thermal oil heaters are used to supply heat up to 300 degree Celsius at very low pressure. In many applications such as natural gas heating and crude oil heating, thermal oil is able to replace steam. To transfer the heat from one hot source to another process, thermal oils are used. In the global market, the thermal oil heaters are available in oil fired and solid fuel fired versions. The global thermal oil heater industry players have designed thermal oil heaters that have capable of high capacity heating system, multi fuel option, requires minimum maintenance, over-bed and under-bed fuel firing systems and large in-bed and convective heat transfer area. The firing fuels that are used in the thermal oil heaters are heavy oils, light oils and gases.
Thermal oil are used in industries such as chemical and oil & gas. Thermal oil heaters are used for storage and transportation purpose of items, which have low solidification. Thermal oils are also widely used in large scale frying and baking in industrial kitchens. Thermal oil heaters are replacing steam heaters in the industrial laundries. Thermal oils are used as heat storage medium by solar thermal systems as well. Currently, the manufactures produce thermal oil heaters under their own brand names.
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Thermal Oil Heaters Market: Drivers and Challenges
The global thermal oil heaters market is primarily driven by the growing demand from such as chemical and oil & gas. Properties such as high and even temperature of thermal oil is expected to drive the global thermal oil heaters market during the forecast period.
Thermal oil gets overheated due to sudden trips or unplanned shutdown. Thermal oil degrades due to overheating. Leakage of the oil in the combustion area leads to the mishaps. These factors are expected to inhibit the growth of the global thermal oil heater market during the forecast period.
Thermal Oil Heaters Market: Overview
The global thermal oil heaters market by value is expected to expand at a CAGR of around 7–9% during the forecast period (2015-2025), due to increasing demand for thermal oil heaters from oil & gas and chemical industry.
Thermal Oil Heaters Market: Region-wise Outlook
The global thermal oil heaters market is expected to register a single-digit CAGR for the forecast period. Depending on geographic regions, global thermal oil heaters market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa (MEA). In terms of market revenue, Asia Pacific Excluding Japan thermal oil heaters market is projected to register a significant CAGR during the forecast period. Growing industry activities is fuelling the growth of thermal oil heaters market in APEJ.
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Thermal Oil Heaters Market: Key Players
Some of the key market participants in global thermal oil heaters market are Solutia Inc, Paratherm Corporation, Dow Chemicals Co., Radco Industries Inc. and Thermax
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