Pune, June 9, 2020 (GLOBE NEWSWIRE)-By the end of 2027, the global heat transfer fluid market is expected to reach USD 537.224 million. The growing demand for concentrated solar power will drive market growth in the next few years. According to a report published by “Fortune” magazine “Business Insights”, the title is “Heat Transfer Fluid Market Size, Share and Industry Analysis, by type (silicone oil, aromatic fluid, mineral oil, glycol-based fluid and others), by application (Oil and natural gas, chemical industry, concentrated solar energy, food and beverage, plastics, pharmaceuticals, HVAC and other fields, and regional forecasts for 2020-2027″, the market is worth 34.799 billion U.S. dollars in 2019, compounding the forecast The annual growth rate is 5.78%, 2020-2027.
Heat transfer fluids are widely used in several industries, including oil and gas, healthcare, chemical, pharmaceutical, etc. These fluids are used to transfer heat between two objects or two areas. Among them, they are cooled on one side of the process and heated and stored on the other side. The existence of several large companies with a broader consumer base and excellent product portfolio will open up huge potential for market growth. Large investments in efficient product development will benefit market growth. The growing demand for concentrated solar energy will promote the popularity of this product on a global scale. The growing demand for products will directly affect large enterprises and small and medium-sized enterprises worldwide.
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The report pointed out that the market value in 2019 was 34.779 billion U.S. dollars. It also contains the following:
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The report contains several factors that have contributed to overall market growth in recent years. Among all the factors, the increase in corporate mergers and acquisitions has had the greatest impact on market growth. The huge investment of large companies to develop efficient products will bode well for market growth in the coming years. In April 2019, Eastman Chemical Company announced that it had completed the acquisition of Marlotherm. The company has a series of compelling heat transfer fluids and intellectual property rights. In addition to the above factors, the company also has appropriate formulations and a broader consumer base. Through this acquisition, the company will seek to expand its heat transfer fluids globally. Eastman’s acquisition of Marlotherm will not only bring benefits to the company, but will also have a direct impact on the overall market growth in the next few years.
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The report analyzes the continuing market trends in North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the North American market is expected to occupy a dominant position in the next few years. Strict regulations surrounding total carbon emissions will lead to wider adoption of heat transfer fluids in the region. In addition, substantial investment in product innovation will have a good impact on market growth. The North American market will see substantial growth due to the emergence of several large manufacturers in the region. As of 2019, the market value in 2018 was US$834.52 million, and this value is expected to increase further in the next few years.
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1. Introduction 1.1. Research scope 1.2. Market segmentation 1. Research methodology 1.4. Definitions and assumptions 2. Executive summary 3. Market dynamics 3.1. Market drivers 3.2. Market binding force 3.3. Market opportunity 4. Key Insight 4.1. Major emerging trends-major countries 4.2. Main developments: mergers, acquisitions, partnerships, etc. 4.3. The latest technological progress 4.4. Insights from the regulatory program 4.5. Porter’s five forces analysis 5. 2016-20277.1 Global heat transfer fluid market analysis, insights and forecasts, main findings/summary 5.2. Market analysis, insights and forecasts-by type 5.2.1 Silicone oil 5.2.2 Aromatic oil 5.2.3 Mineral oil 5.2.4. Glycol base oil 5.2.5. Other 5.3. Market analysis, insight and forecast-by application 5.3.1 Petroleum 5.3.2 Chemical 5.3.3 Concentrated solar 5.3.4. Food and beverage 5.3.5. Plastic 5.3.6. Medicine 5.3.7. HVAC 5.3.8. Others 5.4. Market analysis, insights and forecasts-by region 5.4.1 North America 5.4.2 Europe 5.4.3 Asia Pacific 5.4.4. Latin America 5.4.5. Middle East and Africa
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