Heat transfer fluids Industry Global Market Growth, Size, Trends, Insights And Forecast To 2022
New Market Research Reports Title "Heat transfer fluids Market 2018" Has Been Added to Crystal Market Research Report database.
Heat Transfer Fluids - Competitive Outlook and Trend Analysis:
Global Heat Transfer Fluids Market is extremely fused with leading five participants including Exxon Mobil Corporation, Royal Dutch Shell plc, The Dow Chemical Company, BP P.L.C. and Eastman chemical Company, reporting for around 75% in 2014. In 2014, the Dow Chemical Company was the market leader with a market share of around 28% of the global market revenue. The company presents thermal fluids for an extensive host of industries involving pharmaceutical, energy & water, industrial, and chemical. Key products presented in the heat transfer section involve inhibited glycol fluids and artificial fluids. Market players are investing a lot in research and development to expand bio-based thermic oils due to strict environmental regulations concerning the synthetic equivalents. Market players have also been funding to commercialize nanofluids with improved thermal characteristics and multi-utility in a variety of applications.
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Heat Transfer Fluids - Industry Trend Analysis:
The global heat transfer fluids market was evaluated around USD 1.75 billion in the 2012 and is expected to reach approximately USD 4.12 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 8.92% over the forecast period. Speedy industrialization in BRICS countries, especially in production sectors involving metal processing, automotive, oil & gas, and chemical, is anticipated to be a key factor fueling the demand. Growth driving factors for production segment in these areas include technological know-how, availability of large pool of skilled labor and encouraging overseas investment norms. Extensive development in oil and gas production is expected to influence the market growth during the forecast period positively. Concentrated solar power (CSP) is a promising technology to recuperate solar energy. This needs a mean to transmit the generated heat from the collectors to the generators and sequentially constantly chill the PV surface. Rising CSP plants installation in countries including the United States, China, and France is anticipated to boost the demand for product in this section during the projected future. These substances are also necessary for chemical and pharmaceutical plants to preserve the temperature of equipment and furnace in group processes. They are also utilized as heat recovery fluids and coolant in thermal reactors throughout these industries. Rising chemical and pharmaceutical production industries in BRIC countries are expected to fuel product demand in these sections. Strict environmental regulations along with the uneven raw material (including base oil, crude oils) supply-demand scenario are anticipated to hamper market growth over the projected period.
Heat Transfer Fluids - Product Outlook and Trend Analysis:
In 2014, silicone and aromatics created the major product section, reporting for around 40% of industry share and are anticipated to grow at a compound annual growth rate of 6.3% over the forecast period. Silicone and aromatic fluids are particularly planned to function at enormously elevated temperatures. These are extensively utilized in wood processes, food processing, chemical, plastics, and spin & weave industries. Rising chemical and oil & gas industries in Asia Pacific region combined with growing demand for artificial thermal oils in the applications is anticipated to fuel the demand for product during the forecast years. Glycol fluids are expected to be the highest growing product section owing to brilliant antifreeze characteristics. They are normally utilized as antifreeze agents in beverage and food industry. Increasing beverage and food industry predominantly in Asia Pacific region is expected to drive the demand during the forecast years.
The global heat transfer fluids market is segmented as follows –
Heat Transfer Fluids - By Product:
Silicones & Aromatics
Mineral Oils
Glycol-Based Fluids
Others
Heat Transfer Fluids - By Application:
Oil & gas
Chemical industry
CSP
Food & beverages
Plastics
Pharmaceuticals
HVAC
Others
Heat Transfer Fluids - Application Outlook and Trend Analysis:
In 2014, oil & gas was the leading application section reporting for 23.8% of overall market volume and are anticipated to expand at a compound annual growth rate of 5.5% during forecast period. Increasing use of heating oil in offshore gas & oil thermal processes is expected to fuel the growth during the projected period. An escalating number of LNG terminals are likely to drive the growth of the market. Asia Pacific and European petroleum market are projected to experience rapid expansion during the forecast years. This is expected to elevate product demand in the abovementioned areas. Concentrated solar power (CSP) is expected to be the highest growing application section during the projected period. Heat transfer fluids are vital components for transferring and storing thermal power in CSP. Rising CSP installations, especially in Asia Pacific and Europe, is anticipated to fuel the growth in this section during the projected period. Heating, ventilating & air conditioning (HVAC) and food & beverage are expected to witness moderate growth during the forecast years. In 2014, China and India were the major customers in HVAC industry.
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Heat Transfer Fluids - By Region:
North America - U.S, Canada, Mexico
Europe - Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Heat Transfer Fluids - Regional Outlook and Trend Analysis:
In 2014, European heat transfer fluids market ruled the global market, with an overall demand more than 140.0-kilotons. It is anticipated to lose market share to elevated growth industries including South & Central America and Asia Pacific during the forecast years. Augmented population along with elevated energy demand has stimulated the energy and power sector. Fresh developments seen in new solar plants together with rising energy needs are anticipated to fuel the heat transfer fluids market in the European region. Rising need for utilizing surplus energy and heat dissolute in key industries like HVAC, concentrated solar power (CSP), chemical plants are anticipated to fuel market penetration in this region during the forecast years. Asia Pacific regional heat transfer fluids industry is predicted to experience the high benefits during the forecast years and reports for around 24% of the overall market share by 2022. Growing renewal energy segment and brisk expansion in thermal management are anticipated to fuel the heat transfer fluids market in Japan and China. North America region is expected to witness a sluggish growth due to steady demands in key end-user industries, reporting for around 28% of overall market revenue by 2022.
FEATURES OF THE REPORT:
The analysis of Heat transfer fluids market, their Growth, Demand, position, size and share from different regions are mentioned in detailed.
The key players in the market and their share in the global market are discussed.
The new strategic plan and suggestions that will help old as well as new market players to maintain the competitiveness are also discussed.
The Heat transfer fluids market report provides some important points related to growth factors, challenges, opportunities, end-user analysis and achievement and so on.
The latest trends that are being followed in the market are included along with an example.
How technological advancement and research, as well as development activities, are impacting the market is explained in detail.
The development plans and policies are discussed as well as manufacturing processes and cost structures too are discussed.
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As the report further, it explains developing plans and policies, making processes, cost structures of Heat transfer fluids market as well as the leading players. It also concentrates on the aspects like company profile, product images, supply chain relationship, import/export details of Heat transfer fluids market, market statistics of Heat transfer fluids market, upcoming development plans, market gains, contact details, consumption ratio. Ultimately, the report includes an in-depth analysis of sub-segments, market dynamics, feasibility study, key strategies used by leading players, market share study and growth prospects of the industry. The report also evaluates the growth established by the market during the forecast period and research conclusions are offered.
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