Dublin, July 15, 2022 (GLOBE NEWSWIRE) -- The "Heat Transfer Fluids Market - Global Outlook and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
Heat transfer fluid is primarily used as an intermediate liquid to transfer heat from a heat source to other heat demands. A heat transfer fluid is any liquid or gas used for the process that involves heating or cooling a system. Heat transfer fluids are utilized in industrial and other applications that require increased or decreased temperature in a closed circuit and a continuous cycle.
Key companies are focusing on increasing the efficiencies, longer service life, and product safety of heat transfer fluids. Currently, mineral oil-based heat transfer fluids have maximum market share this is because the cost of mineral oil-based heat transfer fluid is low compared to other types.
The glycol-based heat transfer fluid market is predicted to grow at a faster rate due to its various advantages over mineral oil-based heat transfer fluid, like low viscosity, low toxicity, and antifreeze properties which makes it ideal for various applications.
Drivers: Rise in Demand for Natural Gas Production.
Heat transfer fluid is used in various natural gas industries like processing, refining, and transportation applications. They are utilized in applications like recovery of glycols and mitigating heating to remove water from processed natural gas. The rising utilization of heat transfer fuels in offshore oil and natural gas systems and a growing number of LNG workstation is the key factor for the increase in demand for heat transfer fluid. Heat transfer liquid offers excellent temperature control and gives security. The heat transfer fluid used for downstream heating petrochemicals also plays a part in the demand for efficient heat transfer fluids.
Opportunities: Rapid Industrial Growth.
The rapid growth in the industrialization of emerging economies has resulted in increased production and new modern technologies to increase productivity and efficiency. The increased production rate in manufacturing industries has led to high demand for heat transfer fluid in machining and casting industries. Heat transfer fluid is used in equipment to carry the heat and maintain the desired temperature of the system. Hence, the adoption rate of installation of heat transfer fluid systems in new facilities around the world has increased to support process efficiency growth in chemical, automotive, metal-processing, power, and oil & gas sectors.
Restraints: Recyclability and Biodegradability Issues Regarding Heat Transfer Fluids.
Heat transfer fluid can work effectively for a limited period. After constant use, it can degrade, leading to expensive maintenance costs and shutdowns due to loss of heat transfer capacity. Heat transfer fluid degradation is caused mainly by thermal cracking, oxidation, and contamination. Regardless of which type of thermal fluid is used, it should be replaced over a certain period. With the global focus on the impact of chemicals on the environment and corporate sustainability objectives, the heat transfer fluid users are looking for alternatives for dumping and discarding utilized fluids by burning or landfilling.
Key Questions Answered
1. What is the Size of the Heat Transfer Fluids (HTFS) Market?
2. What is the Growth Rate of the Heat Transfer Fluids Market?
3. Who Are the Key Players in the Heat Transfer Fluids (HTFS) Market?
4. Which Region Holds the Largest Share in the Heat Transfer Fluids (HTFS) Market?
5. Which End-User Segment to Witness Fastest Growth Rate in the Heat Transfer Fluids (HTFS) Market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
4.1.3 Market Estimation Caveats
4.2 Base Year
4.3 Scope of the Study
4.3.1 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview
7.2 Criteria to Select Heat-Transfer Fluids
7.2.1 Temperature
7.2.2 Pressure
7.2.3 Pumpability
7.2.4 Industry
7.2.5 Applications
7.2.6 Price
7.2.7 Efficiency
7.2.8 Environment Friendliness
7.3 Mergers and Acquisitions
7.4 Covid-19 Impact
8 Market Opportunities & Trends
8.1 Rapid Industrialization
8.2 Government Regulations Mandating Sustainable Practices
9 Market Growth Enablers
9.1 Demand for Natural Gas Production
9.2 Focus on Renewable Energy
9.3 Demand for Food-Grade Heat-Transfer Fluids
10 Market Restraints
10.1 Recyclability and Biodegradability Issues
10.2 Fluctuations in Raw Material Prices
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
11.3.1 Threat of New Entrants
11.3.2 Bargaining Power of Suppliers
11.3.3 Bargaining Power of Buyers
11.3.4 Threat of Substitutes
11.3.5 Competitive Rivalry
12 Type
12.1 Market Snapshot & Growth Engine (Value)
12.2 Market Snapshot & Growth Engine (Volume)
12.3 Market Overview
12.4 Glycol
12.4.1 Market Overview
12.4.2 Market Size & Forecast
12.4.3 Market by Geography
12.5 Mineral Oil
12.5.1 Market Overview
12.5.2 Market Size & Forecast
12.5.3 Market by Geography
12.6 Synthetic Oil
12.6.1 Market Overview
12.6.2 Market Size & Forecast
12.6.3 Market by Geography
12.7 Others
12.7.1 Market Overview
12.7.2 Market Size & Forecast
12.7.3 Market by Geography
13 End-Use
13.1 Market Snapshot & Growth Engine (Value)
13.2 Market Snapshot & Growth Engine (Volume)
13.3 Market Overview
13.4 Oil & Gas
13.4.1 Market Overview
13.4.2 Market Size & Forecast
13.4.3 Market by Geography
13.5 Food & Beverage
13.5.1 Market Overview
13.5.2 Market Size & Forecast
13.5.3 Market by Geography
13.6 Pharmaceutical
13.6.1 Market Overview
13.6.2 Market Size & Forecast
13.6.3 Market by Geography
13.7 Renewable Energy
13.7.1 Market Overview
13.7.2 Market Size & Forecast
13.7.3 Market by Geography
13.8 Chemical
13.8.1 Market Overview
13.8.2 Market Size & Forecast
13.8.3 Market by Geography
13.9 Others
13.9.1 Market Overview
13.9.2 Market Size & Forecast
13.9.3 Market by Geography
14 Geography
14.1 Market Snapshot & Growth Engine (Value)
14.2 Geographic Overview
15 North America
15.1 Market Overview
15.1.1 Market Size & Forecast
15.2 Type
15.2.1 Market Size & Forecast
15.3 End-Use
15.3.1 Market Size & Forecast
15.4 Key Countries
15.4.1 Us: Market Size & Forecast
15.4.2 Canada: Market Size & Forecast
16 Europe
16.1 Market Overview
16.1.1 Market Size & Forecast
16.2 Type
16.2.1 Market Size & Forecast
16.3 End-Use
16.3.1 Market Size & Forecast
16.4 Key Countries
16.4.1 Germany: Market Size & Forecast
16.4.2 Russia: Market Size & Forecast
16.4.3 France: Market Size & Forecast
16.4.4 Italy: Market Size & Forecast
16.4.5 Spain: Market Size & Forecast
16.4.6 Rest of Europe
17 Apac
17.1 Market Overview
17.1.1 Market Size & Forecast
17.2 Type
17.2.1 Market Size & Forecast
17.3 End-Use
17.3.1 Market Size & Forecast
17.4 Key Countries
17.4.1 China: Market Size & Forecast
17.4.2 Japan: Market Size & Forecast
17.4.3 South Korea: Market Size & Forecast
17.4.4 India: Market Size & Forecast
17.4.5 Australia: Market Size & Forecast
17.4.6 Rest of Apac: Market Size & Forecast
18 Latin America
18.1 Market Overview
18.1.1 Market Size & Forecast
18.2 Type
18.2.1 Market Size & Forecast
18.3 End-Use
18.3.1 Market Size & Forecast
18.4 Key Countries
18.4.1 Brazil: Market Size & Forecast
18.4.2 Mexico: Market Size & Forecast
18.4.3 Rest of Latin America
19 Middle East and Africa
19.1 Market Overview
19.1.1 Market Size & Forecast
19.2 Type
19.2.1 Market Size & Forecast
19.3 End-Use
19.3.1 Market Size & Forecast
19.4 Key Countries
19.4.1 Saudi Arabia: Market Size & Forecast
19.4.2 Iraq: Market Size & Forecast
19.4.3 Uae: Market Size & Forecast
19.4.4 Rest of Mea
20 Competitive Landscape
20.1 Competition Overview
21 Key Company Profiles
21.1 Dow
21.1.1 Business Overview
21.1.2 Dow in the Global Heat-Transfer Fluid Market
21.1.3 Product Offerings
21.1.4 Key Strategies
21.1.5 Key Strengths
21.1.6 Key Opportunities
21.2 Eastman Chemical Company
21.2.1 Business Overview
21.2.2 Eastman Chemical Company in the Global Heat-Transfer Fluid Market
21.2.3 Product Offering
21.2.4 Key Strategies
21.2.5 Key Strengths
21.2.6 Key Opportunities
21.3 Exxonmobil
21.3.1 Business Overview
21.3.2 Exxonmobil in the Global Heat-Transfer Fluid Market
21.3.3 Product Offerings
21.3.4 Key Strategies
21.3.5 Key Strengths
21.3.6 Key Opportunities
21.4 Clariant
21.4.1 Business Overview
21.4.2 Clariant in the Global Heat-Transfer Fluid Market
21.4.3 Product Offerings
21.4.4 Key Strategies
21.4.5 Key Strengths
21.4.6 Key Opportunities
21.5 Arkema
21.5.1 Business Overview
21.5.2 Arkema in the Global Heat-Transfer Fluid Market
21.5.3 Product Offerings
21.5.4 Key Strategies
21.5.5 Key Strengths
21.5.6 Key Opportunities
22 Other Prominent Companies
22.1 Chevron
22.1.1 Business Overview
22.1.2 Product Offerings
22.2 Shell plc
22.2.1 Business Overview
22.2.2 Product Offerings
22.3 Phillips 66
22.3.1 Business Overview
22.3.2 Product Offerings
22.4 Radco Industries
22.4.1 Business Overview
22.4.2 Product Offerings
22.5 Lanxess
22.5.1 Business Overview
22.5.2 Product Offerings
22.6 Paratherm
22.6.1 Business Overview
22.6.2 Product Offerings
22.7 Indian Oil Corporation Ltd.
22.7.1 Business Overview
22.7.2 Product Offerings
22.8 Cfr Chemicals
22.8.1 Business Overview
22.8.2 Product Offerings
22.9 Sinopec
22.9.1 Business Overview
22.9.2 Product Offerings
22.10 Sasol
22.10.1 Business Overview
22.10.2 Product Offerings
22.11 Totalenergies
22.11.1 Business Overview
22.11.2 Product Offerings
22.12 Schultz
22.12.1 Business Overview
22.12.2 Product Offerings
22.13 Petro-Canada
22.13.1 Business Overview
22.13.2 Product Offerings
22.14 Eastern Petroleum Private Limited
22.14.1 Business Overview
22.14.2 Product Offerings
22.15 Huntsman Corporation
22.15.1 Business Overview
22.15.2 Product Offerings
22.16 Hp Lubricants
22.16.1 Business Overview
22.16.2 Product Offerings
23 Report Summary
23.1 Key Takeaways
23.2 Strategic Recommendations
24 Quantitative Summary
24.1 Type
24.1.1 Glycol
24.1.2 Mineral Oil
24.1.3 Synthetic Oil
24.1.4 Others
24.2 End-Use
24.2.1 Oil & Gas
24.2.2 Food & Beverage
24.2.3 Pharmaceutical
24.2.4 Renewable Energy
24.2.5 Chemical
24.2.6 Others
25 Geography
26 Appendix
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