HTFs Market | Global Heat Transfer Fluids Industry Report on Size, Share, Forecast

Whipsmartmi.com offers "Global Heat Transfer Fluids Market 2022-2021" from its research database.

The Heat Transfer Fluids Market fluids (HTFs) is expected to grow at CAGR 9% during the forecast period 2021-2026.

Increasing awareness regarding energy conservation and growing demand for heat exchangers, heat pumps, and chillers in end-use industries, such as chemical, oil & gas, and HVACR has led to growth in the market.

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Mineral oils segment is estimated to dominate the heat transfer fluids market due to their increasing demand for HTFs in chemical processing and petrochemical end-use industries. Preference over other types due to their low price is considered as the major factor particularly in APAC and Middle East & Africa regions, with the focus on usage of low-cost products is expected to fuel the growth of the segment. Whereas, Synthetic fluids is the fastest-growing segment owing to the enhanced lubricity and high thermal stability offered by them.

Increased investments in exploring more renewable sources of energy especially Concentrated Solar Power (CSP), wind mills, and bio-based energy production boosted the growth of renewable energy sector across the world and is expected to be the fastest growing segment in the HTFs market. The chemical end-use industry is expected to account for the largest market share during the forecast period owing to increase in population, industrialization, and urbanization, which is expected to support the growth of the chemical industry, thereby helping the HTFs market growth.

Some of the key players in the market are The Dow Chemical Company (US), ExxonMobil (US), Eastman Chemical Company (US), Chevron (US), Huntsman Corporation (US), LANXESS (Germany), Royal Dutch Shell Plc. (Netherlands), Schultz Canada Chemicals Ltd. (Canada), Paratherm (US), Clariant (Switzerland), Sasol Limited (South Africa), Arkema (France), Global Heat Transfer Ltd. (UK), British Petroleum (UK), Dynalene, Inc. (US), Isel (US), Phillips 66 (US).

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