Rapid industrialization and pro-renewable energy policies in Asia-Pacific drive growth

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Global Heat Transfer Fluids Market

Global Heat Transfer Fluids Market

Global Heat Transfer Fluids Market

Dublin, Oct. 19, 2022 (GLOBE NEWSWIRE) — The “Global Heat Transfer Fluids (HTF) Market by Product Type (Mineral Oils, Synthetic Fluids, Glycol-Based Fluids), End-Use (Chemical & Petrochemical, Oil & Gas, Automotive, Renewable Energy, Pharmaceutical) and Region 2027” report has been added to from ResearchAndMarkets.com offer.

The Global HTF Market is estimated to be valued at USD 3.7 Billion in 2022 and is projected to reach USD 5.8 Billion by 2027, growing at a CAGR of 9.3% from 2022 to 2027.

This is attributed to the growing number of concentrated solar power plants, with the growing demand for clean energy driving the growth of the HTF market. Additionally, HTFs play a crucial role in providing efficient solutions to utilize heat more productively in various end uses such as food and beverage, automotive, etc.

In terms of value, glycol fluids are the third fastest growing segment in the HTF market, by product type, during the forecast period

Glycol-based HTFs are odorless, high performance fluids designed for industrial applications, with a particular focus on high thermal efficiency and durability. They provide high thermal efficiency and durability in industrial applications. Their closed system ensures cleanliness, reduces wear and eliminates filtration requirements.

In terms of value, pharmaceuticals are estimated to be the third fastest growing segment in the HTF market, by end-use industry, during the forecast period.

The pharmaceutical industry uses HTFs to design and manufacture new products. A wide temperature range is needed because chemical reactions occur at high temperatures and crystallization occurs at lower temperatures when making a final product. Mineral and silicone based HTFs are used in pharmaceutical processing due to their thermal stability, high purity and heat transfer efficiency. Safety is an essential criterion for the use of HTFs in the pharmaceutical industry. Food grade HTFs are used for incidental contact. These are colorless, odorless and non-toxic.

North America accounted for the third largest share of the HTF market, by value

The North America market is made up of major manufacturing companies such as The Dow Chemical Company, Chevron, Schultz Canada Chemicals Ltd. and Exxon Mobil. High demand for HTF from chemical, oil & gas, and automotive industries is driving the market. According to the CICA-chem economic analysis report, basic chemicals and fertilizers dominate the region’s chemical industry. According to the Center for Strategic and International Studies (CSIS), the development of abundant tight oil and unconventional natural gas resources is driving North America’s economic growth. The regional market has been segmented into United States, Canada, and Mexico.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews
4.1 Attractive Opportunities for HTF Market Players
4.2 Asia Pacific: HTF Market, by End Use and Country
4.3 HTF Market, By Product Type
4.4 HTF Market, By End Use
4.5 HTF Market, by Country

5 Market Overview
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rapid industrialization and favorable renewable energy policies in Asia-Pacific
5.2.1.2 Growing number of concentrated solar power projects
5.2.1.3 Increased use of CTFs to reduce operating costs and save energy
5.2.2 Constraints
5.2.2.1 Commodity price volatility
5.2.3 Opportunities
5.2.3.1 Growing need for energy conservation and clean energy
5.2.3.2 Government programs focused on energy efficiency and renewable energies
5.2.4 Challenges
5.2.4.1 Risks of fire and explosion related to thermal FTCs
5.3 Porter’s Five Forces Analysis
5.4 Value chain analysis
5.5 Ecosystem
5.6 COVID-19 Impact Analysis
5.6.1 Economic assessment of COVID-19
5.6.2 Effects on GDP at the national level
5.6.3 Impact on end users
5.7 Price Analysis
5.7.1 Average selling price, by region
5.7.2 Average selling price, by product type
5.7.3 Average Sale Price, by Key Player
5.8 Business Analysis
5.9 Macroeconomic data
5.9.1 Oil production data
5.9.2 Renewable Energy Generation Data
5.9.3 Automotive Production Data
5.10 Trends/disruptions affecting customer business
5.11 Analysis of case studies
5.11.1 Eastman offered Therminol heat transfer fluid to Indorama Ventures to increase the efficiency of its plant
5.11.2 Hydromx Saved 35% on Energy Costs by Installing Glycol Based CRAC Units in Cass County Electric Cooperative Building
5.11.3 Chromalox and Eastman meet chemical production plant high temperature requirements
5.12 Key Conferences and Events, 2022-2023
5.13 Factors Influencing Purchasing Decisions
5.14 Pricing and regulatory landscape
5.15 Patent Analysis

6 HTF Market, By Product Type
6.1 Presentation
6.2 Mineral oils
6.2.1 Designed for industrial application below 300C
6.3 Synthetic fluids
6.3.1 Sui table for high temperature applications
6.4 Glycol based fluids
6.4.1 Reduce maintenance costs as they include anti-corrosive additives
6.5 Others

7 HTF Market, By End Use
7.1 Presentation
7.2 Chemicals and petrochemicals
7.2.1 Implementation of HTFs in chemical plants due to their corrosion resistance, non-toxicity and low volatility properties
7.3 Oil and Gas
7.3.1 Adoption of HTFs in Oil and Gas Plants to Reduce Vibration in Transducers, Cables and Control Valves
7.4 Automotive
7.4.1 Use of CTFs in Batteries, Compressors and Automotive Engines for Efficient Heat Transfer
7.5 Food and drink
7.5.1 Use of HTFs as a Steam Replacement in Food Processing Plants
7.6 Renewable energy
7.6.1 Deployment of HTFs in CSP Plants Due to Their High Oxidation Resistance and Thermal Stability
7.7 Pharmaceutical
7.7.1 Implementation of Food Grade HTFs in Pharmaceutical Applications Due to Thermal Stability and High Purity Requirements
7.8 HVAC
7.8.1 Corrosion resistance and long-term stability of HTFs to increase their demand for HVAC applications
7.9 Others

8 HTF Market, by Region

9 Competitive Landscape
9.1 Overview
9.2 Strategies Adopted by Key Players
9.3 Market Ranking Analysis
9.4 Market Share Analysis
9.5 Top Players Revenue Analysis
9.6 Market Assessment Matrix
9.7 Business Evaluation Matrix
9.7.1 Stars
9.7.2 Emerging Leaders
9.7.3 Ubiquitous Players
9.7.4 Participants
9.8 Startups and Small and Medium Enterprises (SME) Assessment Matrix
9.8.1 Sensitive companies
9.8.2 Starting Blocks
9.9 Competitive Benchmarking
9.9.1 Company Product Type Footprint
9.9.2 Enterprise end-use footprint
9.9.3 Company region footprint
9.10 Strength of product portfolio
9.11 Excellence in business strategy
9.12 Competitive Scenario
9.12.1 Product launches
9.12.2 Extensions, collaborations and investments
9.12.3 Mergers and Acquisitions

10 company profiles
10.1 Key Players
10.1.1 The Dow Chemical Company
10.1.2 Eastman Chemical Company
10.1.3 ExxonMobil
10.1.4 Herringbone
10.1.5 Huntsman Corporation
10.1.6 Shell APIs
10.1.7 Lanxess
10.1.8 Clariant AG
10.1.9 Wacker Chemie AG
10.1.10 Indian Oil Company
10.1.11 Schultz Canada Chemicals Ltd.
10.2 Other Players
10.2.1 Paratherm
10.2.2 Arkema
10.2.3 BASF
10.2.4 Dalian Richfortune Chemicals
10.2.5 British Oil
10.2.6 Dupont Tate & Lyle
10.2.7 Dynalene
10.2.8 Hindustan Oil Company
10.2.9 Global heat transfer
10.2.10 ISEL
10.2.11 Paras Lubricants Limited
10.2.12 Petro Canada
10.2.13 Phillips 66
10.2.14 Radco Industries
10.2.15 Schaeffer specialty lubricants

11 Appendix

For more information on this report, visit https://www.researchandmarkets.com/r/273whx

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