openPR Logo
Press release

Heat Transfer Fluid Market to grow at 8% CAGR till 2024 | Eastman Chemical Company, BP, Shell, Phillips 66, Chevron, BASF, ExxonMobil, The Dow Chemical Company

Heat Transfer Fluid Market

Heat Transfer Fluid Market

Rapid industrialization in developing countries particularly in the manufacturing sectors including chemical and automotive will drive heat transfer fluid demand. Favorable foreign direct investment in manufacturing sector, mainly in Asian economies along with the availability of cheap labor has supported the product penetration.

Expansion in oil & gas, chemical and metal processing industries accompanied by the promising environment protocols will drive heat transfer fluid market. Temperature control property and cost saving operation relative to its counterparts including electric and steam will support heat transfer fluid market scope.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/415

Rising demand for precise application based on HTF for optimal energy efficiency is projected to propel industry growth. Implementation of Concentrated Solar Power (CSP) amenities in several industrialized countries for promoting renewable energy will fuel heat transfer fluid market development.

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.

Silicone & aromatics product segment will witness gains over 6% up to 2024 due to increasing necessity for synthetic thermal oils in numerous oil & gas and chemical industries. Improved functioning at elevated temperatures and display of high resistance towards thermal & oxidative deterioration will drive heat transfer fluid market growth.

Glycol product segment was valued over USD 300 million in 2016. Extensive usage in food & beverage industry coupled with FDA approval are primary factors for the growth of the segment. Moreover, surge in number of food processing services coupled with enhanced capacities for medical operations will boost glycol demand.

Oil & gas application segment is expected to reach over USD 880 million by 2024. Rising application for oil heating for offshore thermal processes is expected to propel heat transfer fluid market share over forecast time frame. Additionally, setting up of new terminals of LNG is expected to fuel product demand.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. BP
2. Shell
3. Eastman Chemical Company
4. Phillips 66
5. Chevron
6. BASF
7. ExxonMobil
8. The Dow Chemical Company

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/415

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.

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.

Global heat transfer fluid market share is highly consolidated due to the presence of few key players in the industry. Dow Chemicals, Huntsman Corporation, BASF, Dynalene, KOST USA, Shin-Etsu and Duratherm are among the major industry participants.

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 key industry insights spread across 220 pages with 141 market data tables & 10 charts & figures from the report, “Heat Transfer Fluid Market” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/heat-transfer-fluid-market

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
Blog: http://technologymagazine.org/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Heat Transfer Fluid Market to grow at 8% CAGR till 2024 | Eastman Chemical Company, BP, Shell, Phillips 66, Chevron, BASF, ExxonMobil, The Dow Chemical Company here

News-ID: 1634557 • Views: 594

More Releases from Global Market Insights, Inc.

Expanding consumer electronics sector to augment lithium-ion battery consumption
An alarming increase in carbon emissions has led to major environmental concerns, that have had a positive impact on lithium-ion battery production for various applications like electric vehicles and renewable energy storage. They require extremely low maintenance and exhibit high density and relatively lower discharge rate, making them suitable for fuel-gauge applications. Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1135 They usually do not require scheduled cycling to be able to
Expanding consumer electronics sector to augment lithium-ion battery consumption
An alarming increase in carbon emissions has led to major environmental concerns, that have had a positive impact on lithium-ion battery production for various applications like electric vehicles and renewable energy storage. They require extremely low maintenance and exhibit high density and relatively lower discharge rate, making them suitable for fuel-gauge applications. Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/1135 They usually do not require scheduled cycling to be able to
Increasing adoption of biogas and its impact on the overall energy landscape
Adoption of renewable energy tops the list of solutions to tackle climate change and rising temperatures. Biogas, as a key renewable energy source, is likely to play a major role in the transformation to a low carbon economy. Popularity of biogas has soared in the last few years owing to supportive government policies and incentives aimed at realizing climate change goals. Unlike fossil fuels, such as coal and oil,
Marine Gensets Market Estimated to Expand at a Robust CAGR by 2025 | Key players …
Global Market Insights add New Global Marine Gensets Market report provides in-depth information about market overview, top vendors, Key market highlights, product types, market drivers, challenges, trends, Marine Gensets industry landscape, size and forecast, five forces analysis, Key leading countries/Region. Growing investment in the shipping industry along with rising seaborne import and export activities across emerging economies is set to incite the marine gensets business outlook. An increase in inter-regional trade

All 5 Releases


More Releases for Heat

Heat Exchangers Market
The global heat exchanger market size is estimated at $15.3 billion in 2019, and is expected to grow by 6.0% annually to reach $20.5 billion by 2025. Heat exchangers are the main equipment or devices when it comes to heat transfer and energy saving. It is a device that transfers energy between two or more process fluids. Various types of heat exchangers have been developed for a wide range of domestic
Keeping the heat out
Vertical roller blinds make sure the house stays cool and save energy at the same time. Climate change has been blessing / cursing us with hot summers for a few years already. To keep temperatures bearable in house, air conditioning units and fans are being used more and more. However, these tend to use a lot of power. Consequently it makes more sense to shade large vertical areas of glass with
Moving from heat waste to heat recovery
The project Mitsubishi Electric Hydronics & IT Cooling Systems, through its brand Climaveneta has recently supplied two heat pumps for Fortum’s district heating in Espoo, Finland. Fortum, a Finnish energy company, will utilize waste heat from a data center and supply the heat into a district heating network. The data center belongs to Ericsson, a multinational networking and telecommunications equipment and services company based in Sweden. A win-win solution Ericsson needed more cooling
Global Heat Pipe Heat Exchanger Market Research Report 2017
Summary This report studies Heat Pipe Heat Exchanger in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering Mitsubishi Electric Corporation Nortek Air Solutions Munters Corporation Greenheck RenewAire DRI Innovative Air Solutions Reznor Zehnder America Ruskin Rooftop System Market Segment by Regions, this report splits Global into several key Regions, with production, consumption, revenue, market share and growth
Global Heat Pumps Market 2017 - Vaillant , Trane, Thermia Heat Pumps
The report entitled Global Heat Pumps Market 2017 presents key insights into the global Heat Pumps market along with the latest up-to-date industry details and forthcoming Heat Pumps industry trends, which will assist the readers to focus on product specification and end users driving the overall market revenue and profitability. Report Keynotes: The main motive of the report on "Global Heat Pumps Market 2017" is to study comprehensive details of the market
Geothermal Heat Pumps Market’s Key Threat: Air Source Heat Pumps
The global geothermal heat pumps market is driven by the rising focus of consumers on low-cost energy alternatives. Furthermore, the significant cost savings along with the environmental benefits associated with geothermal heat pumps will also drive the market. The attractive payback period associated with the installation of geothermal heat pumps in newly-built or green homes is also propelling the global geothermal heat pumps market. Another key factor driving the global