May 17, 2022 11:51 ET | Source: Facts & Factors Facts & Factors
San Francisco, May 17, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Heat Transfer Fluids Market By Product (Glycol Fluids, Mineral Oils, Silicones, Aromatics, and Others), By Application (Concentrated Solar Power, Plastic Manufacturing, Oil & Gas, Food & Beverage, and Chemical Manufacturing), and By Region - Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” in its research database.
“According to the latest research study, the demand of global Heat Transfer Fluids Market size & share was worth approximately USD 3.8 billion in 2021and it is expected to surpass around USD 6.5 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 9.5% during the forecast period 2022 to 2028.”
What are Heat Transfer Fluids? How big is the Heat Transfer Fluids Industry?
Heat transfer fluids (HTFs) are liquids or gases that are specifically designed to transfer heat from one system to another. Highly processed petroleum, synthetically formulated siloxanes or hydrocarbons are used to make these fluids (silicone). They deliver high temperatures at low system pressures while also providing safety, minimal maintenance, and long operating lifetimes. This is expected to have an impact on the HTF market.
Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs - https://www.fnfresearch.com/sample/heat-transfer-fluids-market
(A free sample of this report is available upon request; please contact us for more information.)
Our Free Sample Report Consists of the Following:
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Global Heat Transfer Fluids Market: Dynamics
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. 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.
The use of the oil and gas industry, the advancement of shale resources, and investment opportunities in R&D activities all has 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.
Directly Purchase a copy of the report with TOC @ https://www.fnfresearch.com/buynow/su/heat-transfer-fluids-market
Heat Transfer Fluids Market: COVID-19 Impact Analysis
During the COVID-19 pandemic, several countries throughout the world imposed a variety of legal and economic limitations, which had a significant negative effect on the global market for heat transfer fluids. As a consequence of the numerous restrictions that were imposed in different parts of the world due to the pandemic, the market experienced significant disruptions in terms of production, supply, and distribution.
For panic of the spread of the coronavirus, all activities, including people and goods, were prohibited. This had a huge influence on the heat transfer fluids business, since sales plunged resulting in reduced demand for heat transfer fluids.
Heat Transfer Fluids Market: Segmentation Analysis
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.
Browse the full “Heat Transfer Fluids Market By Product (Glycol Fluids, Mineral Oils, Silicones, Aromatics, and Others), By Application (Concentrated Solar Power, Plastic Manufacturing, Oil & Gas, Food & Beverage, and Chemical Manufacturing), and By Region - Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” Report at https://www.fnfresearch.com/heat-transfer-fluids-market
Some of the main competitors dominating the global Heat Transfer Fluids market include -
Key Insights from Primary Research:
Key questions answered in this report:
Have Any Query? Ask Our Experts: https://www.fnfresearch.com/inquiry/heat-transfer-fluids-market
Asia Pacific region's heat transfer fluids market is the fastest and largest growing market, owing to the region's growing investments in the automotive industry, chemical industrial plants, and renewable energy sector. The rise of these industries in this region has been fueled by rising consumer purchasing power. Furthermore, countries such as India and China are expanding rapidly. During the forecast period, these factors are expected to increase demand for HTFs in the region.
Request for Customization on this Report as per your requirements - https://www.fnfresearch.com/customization/heat-transfer-fluids-market
(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)
The global heat transfer fluids market is segmented as follows:
Request For Free Sample Report of the Global Heat Transfer Fluids Market @ https://www.fnfresearch.com/sample/heat-transfer-fluids-market
Browse Other Related Research Reports from Facts & Factors:
Heat Exchangers Market By Material (Steel, Non-Steel), By Type (Shell & Tube, Plate & Frame, Air Cooled), By End-use Industries (Chemical, Energy, HVACR, Food & Beverage, Power Generation, Pulp & Paper), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022–2028
Aromatic Solvents Market By Flash Point (Low Flash Point De-aromatic Solvents, Medium Flash Point De-aromatic Solvents, High Flash Point De-aromatic Solvents). By Boiling Point (Type 1 De-aromatic Solvents, Type 2 De-aromatic Solvents, Type 3 De-aromatic Solvents). By Application (Paints, Coatings and Inks, Metal Working, Industrial Cleaning, Adhesives and Sealants, Drilling Fluids, Consumer Products, Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028
Clear Brine Fluids Market By Product Type (Calcium Chloride, Sodium Chloride, Zinc Calcium bromides, Cesium Formate, Potassium Chloride, and Other Product Types), By Application (Oil and Gas Exploration, and Enhanced Oil Recovery), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecast 2022 – 2028
Industrial Lubricants Market By Product (Process Oils, General Industrial Oils, Metalworking Fluids, Industrial Engine Oils, and Others) and By Application (Textiles, Energy, Metalworking, Food Processing, Chemicals Manufacturing, Hydraulic, and Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Automotive Lubricants Market By Base Oil (Mineral Oil Lubricants, Semisynthetic Lubricants, Bio-Based Lubricants, and Synthetic Lubricants) and By Application (Transmission Fluids, Engine Oil, Greases, Gear & Brake Oil, and Others), By Vehicle Type (Passenger Cars, Heavy Commercial Vehicles (HCV), Light Commercial Vehicles (LCV), and Others (Motorbikes)): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecast 2020–2026
Aerospace & Defense Chemical Distribution Market By Product (Adhesives & Sealants, Cleaners & Solvents, Lubricants & Greases, Paints & Coatings, Oils & Hydraulic Fluids, and Others), By Application (Interiors, Airframes, Engines, and Systems), By Distribution Channel (Aftermarket, and OEM), By End Use (Defense, and Aerospace): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026
Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds.
Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.
Follow Us on LinkedIn: https://www.linkedin.com/company/fnfresearch
Follow Us on Twitter: https://twitter.com/fnfresearch
Follow Us on Facebook: https://www.facebook.com/factsandfactors/
Web: https://www.fnfresearch.com
Blog: https://www.fnfresearch.com/blog/