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Heat Transfer Fluid Market Trends by Key Players: British Petroleum, Shell, ExxonMobil and Dow Chemical catering to the key industry demands. Other prominent players include, Dynalene, Indian Oil Corporation Ltd., Hindustan Petroleum Corporation Ltd., Eas
Contact Us: Arun Hegde Corporate Sales, USA Global Market Insights, Inc. Phone: 1-302-846-7766 Toll Free: 1-888-689-0688 Email: s
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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.
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 size. Global installed capacity of CSP was over 5,000 MW in 2016.
HVAC application segment will witness gains at over 6% up to 2024. Low initial investment compared to the cost of chillers, pumps, piping and other system components is projected to drive the heat transfer fluid market growth. However, system’s performance, longevity, and long-term maintenance costs depends on the type of product that is used in the process.
Recent technological developments in the manufacturing sectors including, metal processing and plastics will significantly benefit the industry. In addition, increasing exploration activities in oil & gas industry, particularly in Europe and Asia Pacific will also support improved raw material availability over the projected timeframe. Thus, driving the heat transfer fluid market expansion.
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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)
Browse Full Report @ https://www.gminsights.com/industry-analysis/heat-transfer-fluid-market
Asia Pacific is anticipated to observe gains at a rate of 7% up to 2024. Rising demand for the thermal management along with increasing recognition of renewal energy among consumers in developed countries including Japan and China is expected to drive the HTF landscape.
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.
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.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
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