Heat Transfer Fluids Market Size, Share, Demand & Trends Analysis Report

The global market for heat transfer fluids had a value of approximately 3.8 billion United States dollars in 2021, and the Facts & Factors report estimates that this value will increase to approximately 6.5 billion United States dollars by 2028, representing a compound annual growth rate (CAGR) of approximately 9.5%.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 @https://www.fnfresearch.com/heat-transfer-fluids-market

Some of the key players in the global heat transfer fluids market are

Chevron
Schultz Canada Chemicals Ltd.
ExxonMobil
Sasol Limited
LANXESS
ArkemaEastman Chemical Company
Royal Dutch Shell Plc.
DowDuopont Inc.
Paratherm
Clariant, and Huntsman Corporation.

Heat transfer fluids, also known as HTFs, can be either liquids or gases and are created with the express purpose of moving heat from one system to another. The production of these fluids requires extensive processing of petroleum, and the use of synthetically formulated siloxanes, or hydrocarbons. They are able to produce high temperatures while maintaining low system pressures, while also providing safety, low maintenance requirements, and extended lifetimes of operation. It is anticipated that this will have an effect on the market for HTF.

The use of heat transfer fluids, which are industrial products derived from petroleum, to prevent overheating and for thermal energy storage, as well as the rising demand for products with non-corrosive properties, low viscosity, diffusivity, high thermal conductivity, and extreme phase transition temperatures, are the key factors driving the global heat transfer fluids market.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐅𝐫𝐞𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭@https://www.fnfresearch.com/sample/heat-transfer-fluids-market

The crucial elements used to improve the effectiveness of concentrated solar power plants, their important role in collecting energy from the solar field and transporting it to energy storage systems, the expanding scope of CSP, and its competitive advantages over other renewable energy sources all contribute to the market growth of heat transfer fluids. Manufacturers' captive consumption of these thermal oils, a shift toward bio-based thermal oils to comply with government regulations, and an increasing trend of CSP plants with the ability to add storage capacity all have an impact on the heat transfer fluids market.

Furthermore, the use of the oil and gas industry, the advancement of shale resources, and investment opportunities in R&D activities all have a positive impact on the market. On the other hand, rising concerns about fire & explosion hazards, as well as the implementation of severe restrictions, are expected to stymie the growth of the market. The shift in raw material prices is expected to pose a challenge to the heat transfer fluids market during the forecast period.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭@https://www.fnfresearch.com/inquiry/heat-transfer-fluids-market

The global heat transfer fluids market is segmented on the basis of product, application, and region. By product, the market is divided into glycol fluids, mineral oils, silicones, aromatics, and others. Because of their excellent antifreeze properties, glycol-based HTFs are the fastest-growing product category. The segment is expected to grow at a CAGR of 4.2% over the forecast period. By application, the market is divided into concentrated solar power, plastic manufacturing, oil & gas, food & beverage, and chemical manufacturing. The oil & gas segment had the highest revenue share in 2021, accounting for more than 23% of total revenue.

Recent Development

April 2019: Eastman purchased the German production resources of Marlotherm HTFs from Sasol (South Africa), a global energy and chemical corporation. With this acquisition, the company was able to widen its heat transfer product lines to customers all over the world.
October 2020: In addition to its existing passenger car e-fluids, Royal Dutch Shell has introduced new e-fluids for heavy-duty, medium-duty, and light-duty electrified commercial vehicles. Transmission fluids, greases, and battery coolants are among the new fluids for battery and fuel-cell EVs.

𝐑𝐞𝐚𝐝 𝐛𝐮𝐲𝐧𝐨𝐰 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐌𝐨𝐫𝐞 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧@https://www.fnfresearch.com/buynow/su/heat-transfer-fluids-market

The global heat transfer fluids market is segmented as follows;

By Product

Glycol Fluids
Mineral oils
Silicones
Aromatics
Others

By Application

Concentrated Solar Power
Plastic Manufacturing
Oil & Gas
Food & Beverage
Chemical Manufacturing

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧@https://www.fnfresearch.com/customization/heat-transfer-fluids-market

By Region

North America
The U.S.
Canada
Mexico
Europe
France
The UK
Spain
Germany
Italy
Nordic Countries
Denmark
Sweden
Norway
Benelux Union
Belgium
The Netherlands
Luxembourg
Rest of Europe
Asia Pacific
China
Japan
India
Australia
South Korea
Southeast Asia
Indonesia
Thailand
Malaysia
Singapore
Rest of Southeast Asia
Rest of Asia Pacific
The Middle East & Africa
Saudi Arabia
UAE
Egypt
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America

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This release was published on openPR.