Heat Transfer Fluid Market Size to Register USD 4.2 Billion During the Period 2017 - 2024

MaketStudyReport.com adds a New Heat Transfer Fluid Market Research Report for the period of 2017 - 2024 that shows the growth of the market is rising at 2024.
Heat Transfer Fluid Market size is set to exceed USD 4.2 Billion by 2024; as per a new research report.
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.
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.
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.
Get sample Copy of this report: https://www.marketstudyreport.com/request-a-sample/616480/?utm_source=OP-SL
The above information is provided on a regional and country basis for the following:
 North America: U.S, Canada.
 Europe: Germany, UK, Italy, France.
 Asia Pacific: China, India, Japan.
 MEA: Saudi Arabia, Kuwait, UAE.
 Latin America (LATAM): Argentina, Venezuela, Brazil
Growth drivers
• Industry pitfalls & challenges
• Company market share analysis
• Strategy dashboard
• Growth potential analysis
• Porter's analysis
• PESTEL analysis
Heat Transfer Fluid Market By Material: Silicones & aromatics, Mineral oils, Glycol, Others (Molten salts, HFPE and PFPE), Heat Transfer Fluid (HTF) Market, By Product.
Heat Transfer Fluid 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).
Get Discount on this Report: https://www.marketstudyreport.com/check-for-discount/616480/?utm_source=PAID-SL
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.
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.
Related Report:
2017 Top 5 Marine Lubricants Players in North America, Europe, Asia-Pacific, South America, Middle East and Africa
The Global Marine Lubricants market size will be XX million (USD) in 2022, from the XX million (USD) in 2016, with a CAGR (Compound Annual Growth Rate) of XX% from between 2016 and 2022.
https://www.marketstudyreport.com/reports/2017-top-5-marine-lubricants-players-in-north-america-europe-asia-pacific-south-america-middle-east-and-africa/?utm_source=RR-SL

Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

Market Study Report
The Green Suite #4594,
Dover, DE 19901
United States
Phone: 1-201-355-0868
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com
News: https://www.marketstudyreport.com/category/news-releases/

This release was published on openPR.