Heat Transfer Fluids Market

Heat Transfer Fluids Market by Type (Mineral Oils, Synthetic Fluids, Glycols, and Others), End-Use Industry (Chemical, Oil & Gas, Automotive, Renewable Energy, Pharmaceuticals, Food & Beverage, HVACR, and Others), and Region - Global Forecast to 2024

Report Code: CH 2592 Aug, 2019, by marketsandmarkets.com
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[140 Pages Report] The HTFs market was valued at USD 3.3 billion in 2019 and is projected to reach USD 5.1 billion by 2024, at a CAGR of 9.3% during the forecast period. This high growth is due to the increasing awareness regarding energy conservation, and increased demand for heat exchangers, heat pumps, chillers in end-use industries. Moreover, the high performance of HTFs in various end-use industries, such as chemical, oil & gas, automotive, renewable energy, HVAC and pharmaceuticals is driving the demand for HTFs.

Heat Transfer Fluids Market


Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

By end-use industry, the chemical industry to record the highest CAGR during the forecast period

The chemical industry involves various manufacturing processes that require maintaining specific temperatures during the processes. This specific temperature is achieved by using HTFs. They provide enhanced system efficiency and optimized energy costs. The global demand for chemicals is increasing owing to increasing population, urbanization, and industrialization. This is expected to boost the chemical industry, which in turn, is likely to drive the HTFs market.

By type, the synthetic fluids segment is projected to grow at the highest CAGR from 2019 to 2024

Synthetic fluids is expected to be the fastest-growing segment of the HTFs market by type, because they provide maximized oxidation resistance with minimized deposits, and they possess higher thermal stability, superior radiation resistance, and better durable properties compared to other types. They also provide enhanced lubricity at different temperatures.

Heat Transfer Fluids Market


Source: Investor Presentation, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis

The HTFs market in the APAC is projected to grow at the highest CAGR during the forecast period

The HTFs market in the APAC is projected to grow at the highest CAGR during the forecast period due to the increased need for energy conservation, population, and urbanization. The increasing developments related to chemical, automotive, oil & gas, CSP, bio-diesel production, and HVAC & refrigeration industries in China, India, Japan, and South Korea provide huge opportunities for the HTFs market. These end-use industries are expected to be the major drivers for the HTFs market during the forecast period.

Market Dynamics

Driver: Increasing need for energy conservation

The increasing emphasis on energy savings will boost the demand for HTFs. This will lead to increase in demand for glycols, molten salts, and silicone & aromatic HTFs in the Concentrated Solar Power (CSP) industry. Moreover, the adoption of energy transfer devices such as heat exchangers and heat pumps is rising due to the growing environmental safety regulations and concern of energy scarcity which thus, increases the demand for HTFs. In addition, the demand for these devices is also increasing to ensure energy conservation and energy efficiency. To improve the efficient use of energy, the management of heat in industrial and residential applications is very important. HTFs play a vital role in providing effective solutions to utilize heat in a more productive manner in various applications. For instance, the propylene glycols-based HTFs provide good performance in medium temperature secondary loop refrigeration. It has significantly improved energy efficiency, lowered refrigerants costs, and reduced maintenance by as much as 50%. Thus, the increasing need for energy efficiency is driving the demand for HTFs.

Restraints: Fire explosion hazards

Various high-temperature applications in chemical industry such as plastic processing, metal processing, and production of specialty chemicals demand organic fluids such as mineral oil, synthetics fluids, glycol and other HTFs. These fluids operate above the flashpoint of thermal fluids that fall under “Dangerous Substances and Explosive Atmosphere” Regulations 2002 (DSEAR). Moreover, fluids such as mineral oils degrade over certain time period. This degradation decreases the flashpoint of these fluids, making them flammable. Fluids form explosive mist atmospheres under pressure and also below the flashpoint. A strict procedural control is required to change the HTFs and remove the lower flash point components from the fluid to reduce the risk of explosion. Regular thermal tests can help reduce the degree of risk. However, in the absence of strict tests and timely checks, this risk is inevitable. Thus, explosion hazards posed by HTFs restrain market growth.

Opportunities: High potential for the development of bio-based HTFs

Growing development of environmentally friendly bio-based HTFs is expected to offer new growth opportunities to the HTFs market. Effective heat transfer is essential for both low-temperature and high-temperature applications. The use of bio-based raw materials for the production of HTFs will help provide environment-friendly products that comply with the stringent regulations. Products such as propanediol and bio-based glycol are used as a primary ingredients in HTFs. Propanediol has the same chemical formula as that of propylene glycol but has a different chemical structure. This slight structural modification gives it enhanced thermal stability and longer life in high-heat applications such as solar power, geothermal process heating, natural gas compressors, and secondary loop refrigeration. In addition, propanediol exhibits a more favorable viscosity at low temperatures than propylene glycol, and enhance the energy efficiency, thereby reducing maintenance costs. Thus, the development of bio-based HTFs is expected to provide high growth opportunities for the HTFs market in various application areas.

Scope of the Report

Report Metric

Details

Market size available for years

2017–2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Billion (USD) and Kiloton

Segments covered

Type (Mineral Oils , Synthetic Fluids ,Glycols, and others), End-use Industry (Chemical, Oil & gas, Food & beverage, Pharmaceutical, Renewable Energy, Automotive, HVACR and others), and Region

Geographies covered

North America, Europe, APAC, MEA, and South America

Companies covered

The Dow Chemical Company (US), ExxonMobil Corporation (US), Eastman Chemical Company (US), Chevron Corporation (US), Huntsman Corporation (US), Paratherm (US), Schultz Canada Chemicals Ltd. (Canada), LANXESS AG (Germany), Royal Dutch Shell Plc. (Netherlands), Clariant AG (Switzerland), and others.

This research report categorizes the global HTFs market on the basis of type, end-use industry, and region.

HTFs Market, by Type:

  • Mineral Oils
  • Synthetic Fluids
  • Glycols
  • Others (molten salts, nano fluids, ionic fluids, and fluorinated fluids)

HTFs Market, by End-use Industry:

  • Chemical
  • Oil & gas
  • Food & beverage
  • Pharmaceutical
  • Renewable Energy
  • Automotive
  • HVACR
  • Others (electronics, aerospace, textile, machinery, and marine)

HTFs Market, by Region:

  • APAC
  • Europe
  • North America
  • Middle East & Africa
  • South America

Key Market Players

The Dow Chemical Company (US), ExxonMobil Corporation (US), Eastman Chemical Company (US), Chevron Corporation (US), Huntsman Corporation (US), Paratherm (US), Schultz Canada Chemicals Ltd. (Canada), LANXESS AG (Germany), Royal Dutch Shell Plc. (Netherlands), Clariant AG (Switzerland), and others. These players adopted various organic and inorganic strategies between 2015 and 2019. New product launch, expansion, and merger & acquisitions were the key strategies adopted by players in the HTFs market to increase their product portfolio and global presence to cater to the growing demand.

Recent Developments

  • In 2019, Eastman acquired the Marlotherm HTFs manufacturing assets located in Germany from Sasol (South Africa), a global chemical and energy company. This acquisition helped the company to expand its heat transfer product offerings to customers around the globe.
  • In 2017, Exxonmobil (US) acquired Jurong Aromatics Corporation (Singapore), which is one of the world’s largest aromatics plants. This acquisition helped to strengthen the production and logistics of ExxonMobil and ensure synergy in the HTFs market.
  • In 2016, Clariant introduced a new HTF for solar thermal systems, Antrifrogen SOLAR. It is propylene glycols-based liquid HTF that is specially developed for flat plate collectors and heat pipe systems. This product helped the company to strengthen its product portfolio.
  • In 2016, Clariant launched two new HTFs, Antifrogen L & N for the HVACR industry in India. The company provides additional support such as performance checks, sample analysis, and technical consulting to the customers of these products

 Critical questions the report answers:

  • Where will all these developments take the industry in the long term?
  • What are the upcoming trends for the HTFs market?
  • Which segment provides the most opportunity for growth?
  • Who are the leading vendors operating in this market?
  • What are the opportunities for new market entrants?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

 

1 Introduction (Page No. - 17)

    1.1 Objectives of The Study

    1.2 Market Definition

    1.3 Market Scope

           1.3.1 Market Segmentation

           1.3.2 Regions Covered

           1.3.3 Years Considered for The Study

    1.4 Currency

    1.5 Unit Considered

    1.6 Limitations

    1.7 Stakeholders

 

2 Research Methodology (Page No. - 20)

    2.1 Research Data

           2.1.1 Secondary Data

                    2.1.1.1 Key Data from Secondary Sources

           2.1.2 Primary Data

                    2.1.2.1 Key Data from Primary Sources

                    2.1.2.2 Key Industry Insights

                    2.1.2.3 Breakdown of Primary Interviews

    2.2 Market Size Estimation

           2.2.1 Bottom-Up Approach

           2.2.2 Top-Down Approach

    2.3 Data Triangulation

    2.4 Limitations

    2.5 Assumptions

 

3 Executive Summary (Page No. - 27)

 

4 Premium Insights (Page No. - 31)

    4.1 Attractive Opportunities in The HTFS Market

    4.2 HTFS Market, By Type

    4.3 HTFS Market, By End-Use Industry

    4.4 APAC HTFS Market, By End-Use Industry and Country

    4.5 HTFS Market, By Key Countries

 

5 Market Overview (Page No. - 34)

    5.1 Introduction

    5.2 Market Dynamics

           5.2.1 Drivers

                    5.2.1.1 High Demand in The Chemical Industry

                    5.2.1.2 Increasing Need for Energy Conservation

                    5.2.1.3 Improved Performance of HTFS

           5.2.2 Restraints

                    5.2.2.1 Fire and Explosion Hazards

           5.2.3 Opportunities

                    5.2.3.1 High Growth Potential in The Csp Industry

                    5.2.3.2 High Potential for The Development of Bio-Based HTFS

           5.2.4 Challenges

                    5.2.4.1 Fluctuating Raw Material Prices

    5.3 Porter’s Five Forces Analysis

           5.3.1 Threat of New Entrants

           5.3.2 Threat of Substitutes

           5.3.3 Bargaining Power of Buyers

           5.3.4 Bargaining Power of Suppliers

           5.3.5 Intensity of Competitive Rivalry

    5.4 Macroeconomic Overview

           5.4.1 Real GDP Growth Rate and per Capita GDP of Major Economies

           5.4.2 Trends of Automotive Industry

           5.4.3 Trends of Renewable Energy Industry

           5.4.4 Trends of HVACR Industry

                    5.4.4.1 Demand for AC Units in North America

                    5.4.4.2 Demand for AC Units in Europe

                    5.4.4.3 Demand for AC Units in APAC

 

6 HTFS Market, By Type (Page No. - 44)

    6.1 Introduction

    6.2 Mineral Oils

           6.2.1 Low Price of Mineral Oils is Driving Their Demand in The Market

    6.3 Synthetic Fluids

           6.3.1 Chemical/Synthetic Aromatics

                    6.3.1.1 Maximized Oxidation Resistance with Minimized Deposits Will Drive The Demand for Synthetic Aromatics

           6.3.2 Synthetics (Paos and Silicones)

                    6.3.2.1 Non-Corrosive and Durable Properties Are Likely to Spur The Demand for Synthetics-Based HTFS

    6.4 Glycols

           6.4.1 Reduced Wear and Maintenance, Solubility in Water and Low Freezing Points Lead to High Demand for Glycols in The Market

    6.5 Others

           6.5.1 Molten Salts

           6.5.2 Nanofluids

           6.5.3 Ionic Fluids

           6.5.4 Bio-Based Fluids

           6.5.5 Fluorinated Fluids

 

7 HTFS Market, By End-Use Industry (Page No. - 49)

    7.1 Introduction

    7.2 Chemical

           7.2.1 Waste Heat Recovery

                    7.2.1.1 Optimized Energy Costs and Reduced Pollution Are Fueling The Market for HTFS

           7.2.2 Plastic Processing

                    7.2.2.1 HTFS Ability to Control The Broad Range of Temperature Are Fueling Their Market

    7.3 Oil & Gas

           7.3.1 Need for Energy Saving is Expected to Boost The Demand for HTFS in The Oil & Gas Industry

    7.4 Food & Beverage

           7.4.1 Reduced Operating Costs and Efficient Production Are Likely to Drive The Market in This Segment

    7.5 Pharmaceuticals

           7.5.1 Requirement of Precise Temperature Control Across Cooling and Heating Applications Are Expected to Drive The Market in This End-Use Industry

    7.6 Renewable Energy

           7.6.1 Csp

                    7.6.1.1 Rising Demand for Clean Energy is Driving The Csp Industry, Which, in Turn, is Boosting The Demand for HTFS

           7.6.2 Biodiesel Production

                    7.6.2.1 Temperature Control Capability Without Compromising The Product Quality Will Positively Influence The Demand for HTFS

           7.6.3 Wind Turbine

                    7.6.3.1 Need for Energy Storage and Heat Transfer in Wind Turbines Are Expected to Drive The HTFS Market

           7.6.4 Geothermal

                    7.6.4.1 Heat Exchangers and Heat Pumps Demand HTFS on A Large Scale

    7.7 Automotive

           7.7.1 Excellent Heat Transfer Properties of HTFS Will Drive The Market in The Automotive Industry

    7.8 Hvacr

           7.8.1 Improved Performance & Longevity Along with Reduced Maintenance Costs of Equipment Due to The Use of HTFS Influence The Market Positively

    7.9 Others

 

8 HTFS Market, By Region (Page No. - 55)

    8.1 Introduction

    8.2 APAC

           8.2.1 China

                    8.2.1.1 Industrial Growth in The Country is Driving The HTFS Market

           8.2.2 India

                    8.2.2.1 Growing Industrialization to Propel The HTFS Demand

           8.2.3 Japan

                    8.2.3.1 Highly Developed Industries in Japan Will Boost Market Growth

           8.2.4 South Korea

                    8.2.4.1 Focus on Clean Energy Production is Driving The Renewable Energy Sector Thus Increasing The Demand for HTFS

           8.2.5 Indonesia

                    8.2.5.1 Growth of The Manufacturing Sector in The Country is Anticipated to Spur The Demand for HTFS

           8.2.6 Thailand

                    8.2.6.1 Developing Industries Are Expected to Drive The HTFS Market in Thailand

           8.2.7 Rest of APAC

    8.3 Europe

           8.3.1 Germany

                    8.3.1.1 Large Industrial Base is Likely to Drive The HTFS Market in Germany

           8.3.2 Russia

                    8.3.2.1 Increasing Industrial Output, Large Export Base, and Urbanization Are Estimated to Drive The HTFS Market

           8.3.3 France

                    8.3.3.1 Well-Developed Industrial Infrastructure is Expected to Lead to Market Growth in France

           8.3.4 Uk

                    8.3.4.1 The Growth of The Industrial Sector is Expected to Spur The Demand for HTFS

           8.3.5 Italy

                    8.3.5.1 Rapid Industrialization is Expected to Boost The Growth of The Market in The Country

           8.3.6 Rest of Europe

    8.4 North America

           8.4.1 US

                    8.4.1.1 Advancement in Manufacturing and an Increase in Exports Are Estimated to Drive The HTFS Market

           8.4.2 Canada

                    8.4.2.1 Increasing Presence of Chemical and Renewable Energy Industries is Likely to Influence The Market in Canada Positively

           8.4.3 Mexico

                    8.4.3.1 Growing Industrial Landscape in Mexico is Estimated to Drive The HTFS Market

    8.5 Middle East & Africa

           8.5.1 Saudi Arabia

                    8.5.1.1 Growing Industrialization is Expected to Spur The Demand for HTFS

           8.5.2 UAE

                    8.5.2.1 Expansion of Renewable Energy Sector is Likely to Increase The Demand for HTFS

           8.5.3 Rest of The Middle East & Africa

    8.6 South America

           8.6.1 Brazil

                    8.6.1.1 Strong Industrial Base in The Country Will Boost The Growth of The Market

           8.6.2 Argentina

                    8.6.2.1 Growth of Renewable Energy is Expected to Spur The Demand for HTFS

           8.6.3 Rest of South America

 

9 Competitive Landscape (Page No. - 97)

    9.1 Overview

    9.2 Competitive Leadership Mapping, 2018

           9.2.1 Dynamic Differentiators

           9.2.2 Innovators

           9.2.3 Visionary Leaders

           9.2.4 Emerging Players

           9.2.5 Strength of Product Portfolio

           9.2.6 Business Strategy Excellence

    9.3 Ranking of Key Players

    9.4 Competitive Scenario

           9.4.1 New Product Launch

           9.4.2 Investment & Expansion

           9.4.3 Merger & Acquisition

 

10 Company Profiles (Page No. - 105)

(Business Overview, Products Offered, Recent Developments, Swot Analysis, MNM View)*

     10.1 The Dow Chemical Company

     10.2 Exxonmobil

     10.3 Huntsman Corporation

     10.4 Eastman Chemical Company

     10.5 Chevron

     10.6 Lanxess

     10.7 Global Heat Transfer Ltd

     10.8 Royal Dutch Shell Plc.

     10.9 Schultz Canada Chemicals, Ltd.

     10.1 Paratherm

     10.11 Clariant

     10.12 Other Key Players

             10.12.1 Sasol

             10.12.2 Arkema

             10.12.3 BP

             10.12.4 Dynalene, Inc

             10.12.5 BASF

             10.12.6 Isel

             10.12.7 Phillips 66

             10.12.8 Dalian Richfortune Chemicals

             10.12.9 Hindustan Petroleum Corporation Ltd.

             10.12.10 Indian Oil Corporation Ltd.

             10.12.11 Radco Industries

             10.12.12 Petro-Canada

             10.12.13 Paras Lubricants Limited

             10.12.14 Schaeffer Specialized Lubricants

             10.12.15 Dupont Tate & Lyle

             10.12.16 Solvay

*Details on Business Overview, Products Offered, Recent Developments, Swot Analysis, MNM View Might Not Be Captured in Case of Unlisted Companies.

 

11 Appendix (Page No. - 133)

     11.1 Discussion Guide

     11.2 Knowledge Store: Marketsandmarkets’ Subscription Portal

     11.3 Available Customizations

     11.4 Related Reports

     11.5 Author DetailsTable of Contents

 

List of Tables (133 Tables)

 

Table 1 Annual Percent Change of Real GDP Growth Rates (2016–2023)

Table 2 Trends and Forecast of GDP per Capita, By Country, 2016–2020 (USD)

Table 3 Automotive Production, Million Unit (2013–2018)

Table 4 Overall AC Demand in North America, 2015–2017 (Thousand Units)

Table 5 Overall AC Demand in Europe, 2015–2017 (Thousand Units)

Table 6 Overall AC Demand in APAC, 2015–2017 (Thousand Units)

Table 7 HTFS Market Size, By Type, 2017–2024 (Kiloton)

Table 8 HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 9 HTFS Market Size, By End-Use Industry, 2017–2024 (Kiloton)

Table 10 HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 11 HTFS Market Size, By Region, 2017–2024 (Kiloton)

Table 12 HTFS Market Size, By Region, 2017–2024 (USD Million)

Table 13 APAC: HTFS Market Size, By Country, 2017–2024 (Kiloton)

Table 14 APAC: HTFS Market Size, By Country, 2017–2024 (USD Million)

Table 15 APAC: HTFS Market Size, By Type, 2017–2024 (Kiloton)

Table 16 APAC: HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 17 APAC: HTFS Market Size, By End-Use Industry, 2017–2024 (Kiloton)

Table 18 APAC: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 19 China: HTFS Market Size, By Type, 2017–2024 (Kiloton )

Table 20 China: HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 21 China: HTFS Market Size, By End-Use Industry, 2017–2024 (Kiloton)

Table 22 China: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 23 India: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 24 India: HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 25 India: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 26 India: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 27 Japan: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 28 Japan: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 29 Japan: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 30 Japan: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 31 South Korea: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 32 South Korea: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 33 South Korea: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 34 South Korea: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 35 Indonesia: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 36 Indonesia: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 37 Indonesia: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 38 Indonesia: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 39 Thailand: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 40 Thailand: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 41 Thailand: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 42 Thailand: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 43 Rest of APAC: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 44 Rest of APAC: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 45 Rest of APAC: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 46 Rest of APAC: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 47 Europe: HTFS Market Size, By Country, 2017–2024 (Ton)

Table 48 Europe: HTFS Market Size, By Country, 2017–2024 (USD Million)

Table 49 Europe: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 50 Europe: HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 51 Europe: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 52 Europe: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 53 Germany: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 54 Germany: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 55 Germany: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 56 Germany: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 57 Russia: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 58 Russia: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 59 Russia: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 60 Russia: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 61 France: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 62 France: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 63 France: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 64 France: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 65 UK: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 66 UK: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 67 UK: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 68 UK: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 69 Italy: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 70 Italy: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 71 Italy: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 72 Italy: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 73 Rest of Europe: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 74 Rest of Europe: HTFS Market Size, By Type, 2017–2024 (USD Thousands)

Table 75 Rest of Europe: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 76 Rest of Europe: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousands)

Table 77 North America: HTFS Market Size, By Country, 2017–2024 (Kiloton)

Table 78 North America: HTFS Market Size, By Country, 2017–2024 (USD Million)

Table 79 North America: HTFS Market Size, By Type, 2017–2024 (Kiloton)

Table 80 North America: HTFS Market Size, Type, 2017–2024 (USD Million)

Table 81 North America: HTFS Market Size, By End-Use Industry, 2017–2024 (Kiloton)

Table 82 North America: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 83 US: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 84 US: HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 85 US: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 86 US: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 87 Canada: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 88 Canada: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 89 Canada: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 90 Canada: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 91 Mexico: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 92 Mexico: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 93 Mexico: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 94 Mexico: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 95 Middle East & Africa: HTFS Market Size, By Country, 2017–2024 (Kiloton)

Table 96 Middle East & Africa: HTFS Market Size, By Country, 2017–2024 (USD Million)

Table 97 Middle East & Africa: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 98 Middle East & Africa: HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 99 Middle East & Africa: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 100 Middle East & Africa: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 101 Saudi Arabia: HTFS Market Size, Type, 2017–2024 (Ton)

Table 102 Saudi Arabia: HTFS Market Size, Type, 2017–2024 (USD Thousand)

Table 103 Saudi Arabia: HTFS Market Size, End-Use Industry, 2017–2024 (Ton)

Table 104 Saudi Arabia: HTFS Market Size, End-Use Industry, 2017–2024 (USD Thousand)

Table 105 UAE: HTFS Market Size, Type, 2017–2024 (Ton)

Table 106 UAE: HTFS Market Size, Type, 2017–2024 (USD Thousand)

Table 107 UAE: HTFS Market Size, End-Use Industry, 2017–2024 (Ton)

Table 108 UAE: HTFS Market Size, End-Use Industry, 2017–2024 (USD Thousand)

Table 109 Rest of The Middle East & Africa: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 110 Rest of The Middle East & Africa: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 111 Rest of The Middle East & Africa: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 112 Rest of The Middle East & Africa: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 113 South America: HTFS Market Size, By Country, 2017–2024 (Kiloton)

Table 114 South America: HTFS Market Size, By Country, 2017–2024 (USD Million)

Table 115 South America: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 116 South America: HTFS Market Size, By Type, 2017–2024 (USD Million)

Table 117 South America: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 118 South America: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Million)

Table 119 Brazil: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 120 Brazil: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 121 Brazil: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 122 Brazil: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 123 Argentina: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 124 Argentina: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 125 Argentina: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 126 Argentina: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 127 Rest of South America: HTFS Market Size, By Type, 2017–2024 (Ton)

Table 128 Rest of South America: HTFS Market Size, By Type, 2017–2024 (USD Thousand)

Table 129 Rest of South America: HTFS Market Size, By End-Use Industry, 2017–2024 (Ton)

Table 130 Rest of South America: HTFS Market Size, By End-Use Industry, 2017–2024 (USD Thousand)

Table 131 New Product Launch, 2015–2019

Table 132 Investment & Expansion, 2015–2019

Table 133 Merger & Acquisition, 2015–2019

 

List of Figures (41 Figures)

 

Figure 1 HTFS Market: Research Design

Figure 2 HTFS Market: Bottom-Up Approach

Figure 3 HTFS Market: Top-Down Approach

Figure 4 HTFS Market: Data Triangulation

Figure 5 Synthetic Fluids Dominated The HTFS Market in 2018

Figure 6 Chemical End-Use Industry to Lead The HTFS Market Between 2019 and 2024

Figure 7 APAC Accounted For The Largest Market Share in 2018

Figure 8 Growth in Demand For Heat Exchangers to Drive The HTFS Market During The Forecast Period

Figure 9 Mineral Oils to be The Largest Type Segment By 2024

Figure 10 Chemical to be The Largest End-Use Industry of HTFS

Figure 11 Chemical Was The Largest End-Use Industry and China The Largest Market in APAC in 2018

Figure 12 India to Register The Highest Cagr in The HTFS Market

Figure 13 Drivers, Restraints, Opportunities, and Challenges in The HTFS Market

Figure 14 World Chemical Sales Double As Emerging Market Shares Surge

Figure 15 Crude Oil Price (Dollars per Barrel)

Figure 16 HTFS Market: Porter’s Five Forces Analysis

Figure 17 Share of Wind and Solar Energy in Global Electricity Production

Figure 18 Synthetic Fluids to be The Largest Type Segment in The HTFS Market

Figure 19 Chemical to be The Largest End-Use Industry of HTFS

Figure 20 APAC to be The Largest HTFS Market

Figure 21 APAC: HTFS Market Snapshot

Figure 22 Europe: HTFS Market Snapshot

Figure 23 North America: HTFS Market Snapshot

Figure 24 Companies Adopted New Product Launch As The Key Growth Strategy Between 2015 and 2019

Figure 25 HTFS Market: Competitive Leadership Mapping, 2018

Figure 26 The Dow Chemical Company Led The Market in 2018

Figure 27 The Dow Chemical Company: Company Snapshot

Figure 28 The Dow Chemical Company: Swot Analysis

Figure 29 Exxonmobil: Company Snapshot

Figure 30 Exxonmobil: Swot Analysis

Figure 31 Huntsman Corporation: Company Snapshot

Figure 32 Huntsman Corporation: Swot Analysis

Figure 33 Eastman Chemical Company: Company Snapshot

Figure 34 Eastman Chemical Company: Swot Analysis

Figure 35 Chevron: Company Snapshot

Figure 36 Chevron: Swot Analysis

Figure 37 Lanxess: Company Snapshot

Figure 38 Global Heat Transfer Ltd: Company Snapshot

Figure 39 Global Heat Transfer Ltd: Swot Analysis

Figure 40 Royal Dutch Shell Plc.: Company Snapshot

Figure 41 Clariant: Company Snapshot

The study involved four major activities to estimate the current market size of heat transfer fluids (HTFs). Exhaustive secondary research was done to collect information on market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation was used to estimate the market size of segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources such as Hoovers, Bloomberg Business Week, Factiva, World Bank, and Industry Journals were referred to for identifying and collecting information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, and databases.

Primary Research

The HTFs market comprises several stakeholders such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of the chemical, renewable energy, automotive, oil & gas, pharmaceutical, HVACR, and food & beverage industries. The supply side is characterized by advancements in technology and diverse application segments. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. Following is the breakdown of primary respondents

Heat Transfer Fluids Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the HTFs market. These methods were also used extensively to estimate the size of various sub-segments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, in the chemical, renewable energy, automotive, oil & gas, pharmaceutical, HVACR, and food & beverage industries.

Report Objectives:

  • To define, segment, and project the global market size for HTFs
  • To understand the structure of the HTFs market by identifying its various sub-segments
  • To provide detailed information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
  • To analyze the micro markets with respect to individual growth trends, future prospects, and their contribution to the total market
  • To project the size of the market and its submarkets, in terms of value and volume, with respect to the five regions (along with their respective key countries)
  • To profile key players and comprehensively analyze their core competencies
  • To understand the competitive landscape and identify major growth strategies adopted by players across key regions
  • To analyze the competitive developments such as expansions & investments, new product launches, mergers & acquisitions, joint ventures, and agreements in the HTFs market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of the Rest of APAC heat transfer fluids market

Company Information

  • Detailed analysis and profiling of additional market players (up to five)
Report Code
CH 2592
Published ON
Aug, 2019
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