About Heat Transfer Fluid
Heat transfer fluid is gas or liquid that performs heat transfer. It can be used to prevent overheating or for storing thermal energy. Fluid flows inside a system or a device so as to transfer the heat outside that particular device or system in order to prevent overheating. It is designed to provide precise temperature control in a variety of applications such as hydrocarbon processing, plastics processing, chemical processing, alternative energy and technologies, food and beverage processing and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Heat Transfer Fluid market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Heat Transfer Fluid Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Heat Transfer Fluid market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Dow Chemical Company (United States), ExxonMobil (United States), Eastman Chemical Company (United States), Chevron (United States), Huntsman Corporation (United States), LANXESS (Germany), Royal Dutch Shell Plc. (Netherlands), Schultz Canada Chemicals Ltd. (Canada), Paratherm (United States) and Clariant (Switzerland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Sasol Limited (South Africa), Arkema (France), Global Heat Transfer Ltd. (United Kingdom), British Petroleum (United Kingdom), Dynalene, Inc. (United States) and Isel (United States).
Segmentation Overview
AMA Research has segmented the market of Global Heat Transfer Fluid market by Type (Mineral Oils, Synthetic Fluids, Glycols and Others), Application (Chemical, Oil and Gas, Food and Beverage, Pharmaceutical, Renewable Energy, Automotive, HVACR and Others) and Region.
On the basis of geography, the market of Heat Transfer Fluid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Channel will boost the Heat Transfer Fluid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers:
Low Cost of Maintenance of Heat Transfer Fluid, Increasing Demand in the Chemical Industry and Rising Need for Energy Conservation
Challenges:
Fire and Explosion Hazards
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Increasing Adoption of Heat Transfer Fluid Systems in Chemical, Automotive, Metal-Processing and Oil and Gas Sectors and High Growth Potential in the CSP Industry
Market Leaders and their expansionary development strategies
In April 2019, Eastman Chemical Company announced that it has acquired from Sasol, a global chemical and energy company, the Marlotherm heat transfer fluids manufacturing assets located in Germany and related formulations, intellectual property and customer contracts.
In May 2021, Global specialty materials provider Eastman launched Fluid Genius, a revolutionary new patent-pending product that equips engineers and operations managers with predictive insights to optimize heat transfer fluid performance.
Key Target Audience
Heat Transfer Fluid Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.