Description
Global
heat transfer fluids market size is likely to be valued at USD 3.7 billion by
2020; as per a new research report by Radiant Insights, Inc. Increasing demand
for for heat recovery management in industries such as metal processing,
pharmaceuticals and automotive is anticipated to drive market. Increasing
number of CSP (concentrated solar plants) installations in countries such as
the U.S., France and China are anticipated to drive demand. Growing synthetic
fluid demand for application in gas production particularly in GCC markets is
likely to favor growth
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USDA
approval for its application in food & beverages applications is likely to
positively influence growth. Raw material deficit coupled with stringent
regulations by REACH and EPA governing environmental norms may hinder heat
transfer fluids market growth.
Silicone
& aromatic based thermic oil dominated the product segment and accounted
for more than 42% of the total demand in 2014. Growth of industries such as
chemical and oil & gas is likely to drive the demand. Glycol fluids are
likely to witness highest gains, with an estimated CAGR of 6.8% from 2015 to
2022.
Key
report insights suggest:
• Global heat transfer fluids market
size was estimated 465.9 kilo tons in 2013 and may register 745.3 kilo tons by
2022 growing with an estimated CAGR of 6.1% from 2015 to 2022.
• Oil & gas dominated the
application segment and accounted for 23.58% of the total demand in 2014.
Growing heating oil usage in offshore heating & cooling processes is likely
to drive demand for oil & gas applications. CSP is anticipated to witness
highest gains with an estimated CAGR of 7.5% from 2015 to 2022.
• Europe dominated the regional
demand and accounted for 31.9% of the total volume in 2014. Recent solar power
plant installations in countries such as France and Germany are likely to favor
market growth. Presence of large scale automobile industry is anticipated to
drive thermic fluids and coolants demand.
• Asia Pacific is likely to witness
highest gains, at an estimated CAGR of 7.0% up to 2022. Presence of large scale
industries such as chemical, food & beverages and automobile in China &
India is likely to drive demand.
• Heat transfer fluids market share
is consolidated and top five companies account for 75% of the share 2014. Major
companies include BASF, Shell, Dow Chemicals, ExxonMobil, Eastman Company,
Chevron and Huntsman Corporation.
The report “Heat Transfer Fluids Market
Size, Global Industry Report 2022” is available now to Radiant Insights
customers and can also be purchased directly at
Global
Heat Transfer Fluids Product Overview (Kilo Tons; Revenue, USD Million, 2012 –
2022)
• Silicone & Aromatics
• Mineral Oils
• Glycol-Based Fluids
• Others
Global
Heat Transfer Fluids Application Overview (Kilo Tons; Revenue, USD Million,
2012 – 2022)
• Oil & Gas
• Chemical
• Concentrated Solar Power (CSP)
• Food & Beverages
• Plastics
• Pharmaceuticals
• Heating, Ventilating & Air
Conditioning (HVAC)
• Others
Global
Heat Transfer Fluids Regional Overview (Kilo Tons; Revenue, USD Million, 2012 –
2022)
•North
America
- U.S.
- Canada
- Mexico
•Europe
- Germany
- UK
•Asia
Pacific
- China
- India
- Japan
•Middle
East & Africa
•Central
& South America
About Us
Radiant
Insights is a market research and consulting company offering syndicated
research studies, customized reports, and consulting services. Our market
research studies are designed to facilitate strategic decision-making, based on
extensive and in-depth quantitative information, supported by extensive
analysis and industry insights. Using a patented and robust research
methodology, we publish exhaustive research reports covering a host of
industries such as Technology, Chemicals, Materials, and Energy. Radiant
Insights has a strong base of analysts, consultants and domain experts, with
global experience helping us deliver excellence in all research projects we
undertake
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