Report Ocean offers a thorough analysis of the Heat Transfer Fluids Market, including assessments of business solutions, studies and advancements, applications, advantages, benefits, and breadth. This market research study on Heat Transfer Fluids Market provides a thorough analysis and improvement of the important business producers, opportunities, difficulties, and worldwide suppliers as well as a close investigation of risks and access restrictions. Additionally, it provides a competitive analysis of the most recent technological advancements, innovations, future market potential, industry share, sales, sales generation, funding analysis, and overall business environment.
Global Heat Transfer Fluids Market is valued at approximately USD $$ million in 2021 and is anticipated to grow with a healthy growth rate of more than $$ over the forecast period 2022-2028.
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A heat transfer fluid is a form of liquid or gas that participates in heat transfer by acting as a bridge intermediary in cooling on one side of a process, transporting and storing thermal energy, and heating on the alternate side of a process. These are widely adopted by industries including chemical & petrochemical, oil & gas, automotive, pharmaceutical, and many other industries. The increasing adoption of concentrated solar power, rapid industrialization, coupled with the rising number of concentrating solar power projects are some most prominent factors that are bolstering the market demand across the globe.
According to Statista, in 2018, the production of concentrated solar power was recorded at 12,034 gigawatt hours, which substantially rises and climbs to 13,113 gigawatt hours in the year 2020. Consequentially, the rising adoption of concentrated solar power is surging the growth of the Heat Transfer Fluids Market. The growing need for energy conservation and clean energy and rising government schemes focused on energy efficiency and renewable energy are presenting lucrative growth prospects to the market in the foreseen years. However, volatility in the prices of raw materials, along with the fire and explosion hazards related to thermal HTFs are hindering market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Heat Transfer Fluids Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the implementation of stringent regulations and growing investment in product development. Whereas, the Asia Pacific is expected to grow with the highest growth rate during the forecast period. Factors such as rising export of chemicals to NAFTA countries, rapid industrialization, as well as the availability of low-cost raw materials and labor, are burgeoning the market growth in the forecasting years.
Major market players included in this report are:
BackJoy
Swedish Posture
Acorn International
Upright
Aspen Medical Products, LLC
Evoke Pro
Comfy Brace
ITA-Med Co.
Super Ortho
Ottobock
Recent Developments in the Market:
In 2022, Chevron completed its acquisition of the Renewable Energy Group, which aims to support the company boost its strengths to deliver lower carbon energy.
In 2022, Eastman declared that the company planned to strengthen its Therminol 66 heat transfer fluid manufacturing capacity in Anniston, Alabama by 2024 and increase its US-based capacity by 50%.
In 2019, Eastman announced its plan to expand its product offerings by acquiring Marlotherm- a brand of HTFs from Sasol (South Africa).
Global Heat Transfer Fluids Market Report Scope:
Historical Data: 2019-2020-2021
Base Year for Estimation: 2021
Forecast period: 2022-2029
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Product Type, End-Use, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope: Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define the market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study.
The report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Mineral Oils
Synthetic Fluids
Glycol-based Fluids
Others
By End-Use:
Chemical & Petrochemical
Oil & Gas
Automotive
Pharmaceutical
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the following important queries are addressed:
- What is the Global market’s sales value, production value, consumption value, import, and export (including North America, Europe, Asia-Pacific, South America, Middle East, and Africa)?
- Who are the major manufacturers in this sector on a global scale? How are their capacity, production, sales, pricing, cost, gross, and revenue operating?
- What are the vendors’ market prospects and risks in the international industry?
- Which product types, end users, or applications might be looking for additional growth prospects? What is each type and application’s market share?
- What specific strategies and limitations are keeping the market in check?
- What is the various marketing, sales, and distribution channels in the international market?
- What are the upstream raw materials, as well as the manufacturing machinery?
- What are the Market opportunities, market risk, and market overview of this industry?
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