Heat Transfer Fluid Market 2017 Global industry share- Eastman Company, Dow Chemicals, Shell, British Petroleum and Exxon Mobil

The increasing requirement of temperature and heating control solutions for various industrial processes has proved to be a vital driving factor for heat transfer fluid market, that has been gaining exceptional traction in the last couple of decades

Heat Transfer Fluid Market is estimated to exceed USD 4.2 Billion by 2024; according to a new research report

Necessity for energy efficient thermal oils owing to stringent regulations has enhanced the heat transfer fluid market growth. Strong outlook in oil & gas, concentrated solar power, food & beverages and chemical industry will propel the industry growth.

Increasing need to maintain temperatures in several end-use industries to enhance efficient and maintenance free production will drive the product demand. Rapid industrialization leading to increase in manufacturing plants particularly in emerging economies will propel heat transfer fluid market.
Rising product demand to transfer heat from collectors to generator in CSPs has enhanced industry growth. Moreover, increasing product usage in cooling systems due to its high temperature stability will drive the product demand.

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Increasing exploration of oil reservoirs along with rising natural gas production mainly in gulf countries will drive the industry growth. Shifting preference from steam/ water systems towards thermal oil will support product penetration.

Silicone & aromatics 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.

Fluctuating crude oil prices due to economic instability may affect the heat transfer fluid price trend. Stringent government regulations pertaining to biodegradability and toxicity of product may hamper industry growth. However, technological advancement and development of bio based products will open new opportunities for industry demand.

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.

Oil & gas application accounted for more than 23% of overall industry 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.

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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 . Global installed capacity of CSP was over 5,000 MW in 2016.

Europe 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 heat transfer fluid 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.

Global industry 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.

Outside of the scope Thermal fluids provide numerous heat-treating benefits such as improved performance of equipment, high-temperature operation capability to help reduce machinery break down, and enhanced heat transfer coefficient pertaining to which most of the manufacturing companies seek out the deployment of thermal fluids. Heat transfer fluid possesses the capability of lowering the equipment maintenance as it works in a closed loop system. In addition, it is practically non-flammable, corrosion resistant, soluble in water, and odorless, owing to which heat transfer fluid market has been gaining popularity, especially among the mining companies. The substantial benefits of using these fluids in several industrial processes has been noticed by prominent industry contenders, prompting them to invest further in the deployment of higher grade thermal fluids that could help them achieve excellent equipment performance with longer fluid life.

In the last few years, heat transfer fluids have become an integral part of most of the heating systems that are majorly deployed across the chemical, pharmaceutical, HVAC, and oil & gas processing sectors for performing different processes inclusive of transport, production, recycling, and refining. The rapid establishment of chemical, pharmaceutical, and equipment manufacturing companies across the globe will have a positive influence on heat transfer fluid industry share. In addition, in order to improve the sustainability and eco-friendly characteristics of the fluid, heat transfer fluid manufacturers are looking forward to developing a new range of products which would help them improve their customer base across the globe.

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Heat Transfer Fluid market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:

Heat Transfer Fluid (HTF) Market, By Material
Silicones & aromatics
Mineral oils
Glycol
Others (Molten salts, HFPE and PFPE)

Heat Transfer Fluid (HTF) Market, By Product
Oil & gas
Chemical
Concentrated Solar Power (CSP)
Food & beverages
Plastics
Pharmaceuticals
Heating, Ventilation & Air Conditioning (HVAC)
Others (Transportation, biodiesel and waste heat recovery)

Report Content
Chapter 1. Methodology & Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Definitions & forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary

Chapter 2. Executive Summary
2.1. Heat transfer fluid industry 360 degree synopsis, 2013 -2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Application trends
2.1.4. Regional trends

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