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

[140 Pages Report] The market for heat transfer fluids (HTFs) is expected to grow from USD 3.2 billion in 2019 to USD 5.0 billion by 2024, at a Compound Annual Growth Rate (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, and chillers in end-use industries, such as chemical, oil & gas, and HVACR.

Heat Transfer Fluids Market

By type, the mineral oils segment accounts for the largest market size, in terms of volume.

The mineral oils segment is the largest type of heat transfer fluids, in terms of volume due to their high demand in chemical processing and petrochemical end-use industries. They are preferred over other types due to their low price. They are preferably used in APAC and the Middle East & Africa, where the focus is on the usage of low-cost products. Synthetic fluids is the fastest-growing segment owing to the enhanced lubricity and high thermal stability offered by them.

The renewable energy end-use industry is projected to have the fastest growth during forecast period.

Owing to the high investments in Concentrated Solar Power (CSP), wind mills, and bio-based energy production sectors, the renewable energy sector is growing across the world. The renewable energy end-use industry is projected to register the fastest growth in the HTFs market. The chemical end-use industry is expected to account for the largest market size during the forecast period. Global demand for chemicals is increasing due to increase in population, industrialization, and urbanization, which is expected to support the growth of the chemical industry, thereby helping the HTFs market growth.

Heat Transfer Fluids Market

APAC is expected to account for the largest market size during the forecast period.

Based on region, the HTFs market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. The APAC HTFs market is the largest and fastest-growing market, owing to the increasing investments in the automotive industry, chemical manufacturing units, and renewable energy sector in this region. The increasing consumer purchasing power has propelled the growth of these industries in this region. Moreover, economies such as China and India are growing at high rates. These factors are expected to lead to an increasing demand for HTFs in the region during the forecast period.

Key Market Players

The major vendors in the HTFs market are The Dow Chemical Company (US), ExxonMobil (US), Eastman Chemical Company (US), Chevron (US), Huntsman Corporation (US), LANXESS (Germany), Royal Dutch Shell Plc. (Netherlands), Schultz Canada Chemicals Ltd. (Canada), Paratherm (US), Clariant (Switzerland), Sasol Limited (South Africa), Arkema (France), Global Heat Transfer Ltd. (UK), British Petroleum (UK), Dynalene, Inc. (US), Isel (US), Phillips 66 (US), Dalian Richfortune Chemicals Ltd. (China), Hindustan Petroleum Corporation Ltd. (India), Solvay (Belgium), Indian Oil Corporation Ltd. (India), Radco Industries Inc. (US), DuPont Tate & Lyle (UK), Petro-canada (Canada), BASF (Germany), Paras Lubricants Limited (India), and Schaeffer Manufacturing Co. (US).

The Dow Chemical Company (US) is a leading heat transfer fluid manufacturer. It is mainly focusing on low-cost production to serve emerging markets worldwide. The development of new products along with investment & expansion was a key strategy to penetrate the global HTFs market for the company. Chevron’s (US) global operations and regional brand identity have provided it a competitive edge in the market and opportunities to increase its revenue. Expansion of its downstream operation units with respect to the HTFs segment might enhance its global presence and help it meet the growing demand.

Scope of the Report:

Report Metric

Details

Market size available for years

2017-2024

Base year considered

2018

Forecast period

2019-2024

Forecast units

Value (USD Million) and Volume (Kiloton)

Segments covered

Type, End-use Industry, and Region

Geographies covered

North America, Asia Pacific, Europe, South America, and the Middle East & Africa

Companies covered

The Dow Chemical Company (US), ExxonMobil (US), Eastman Chemical Company (US), Chevron (US), Huntsman Corporation (US), and others
Total 27 major players covered.

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

On the basis of type, the HTFs market has been segmented as follows

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

On the basis of end-use industry, the HTFs market has been segmented as follows

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

On the basis of region, the HTFs market has been segmented as follows

  • Asia Pacific
  • Europe
  • North America
  • Middle East & Africa
  • South America

Recent Developments

  • In April 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 expand its heat transfer product offerings.
  • In August 2017, ExxonMobil acquired Jurong Aromatics Corporation (Singapore), which is one of the world’s largest aromatics plants. This acquisition helped the company strengthen its production and logistics and ensure synergy in the HTFs market
  • In October 2016, Clariant introduced a new heat transfer fluid for solar thermal systems, Antrifrogen SOLAR. It is a propylene glycol-based liquid heat transfer fluid that is specially developed for flat plate collectors and heat pipe systems. This product helped the company strengthen its product portfolio

Key Questions addressed by the report

  • What are the upcoming hot bets for the HTFs market?
  • How are the market dynamics changing for different types of HTFs?
  • How are the market dynamics changing for different end-use industries of HTFs?
  • Who are the major manufacturers of HTFs?
  • How are the market dynamics changing for different regions of HTFs?

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.
     10.10 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
               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 Details


List of Tables (79 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 Heat Transfer Fluids Market Size, By Type, 2017–2024 (Kiloton)
Table 8 Heat Transfer Fluid Market Market Size, By Type, 2017–2024 (USD Million)
Table 9 HTFs Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 10 Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 11 Heat Transfer Fluid Market Size, By Region, 2017–2024 (Kiloton)
Table 12 HTFs Market Size, By Region, 2017–2024 (USD Million)
Table 13 APAC: Heat Transfer Fluids Market Size, By Country, 2017–2024 (Kiloton)
Table 14 APAC: Heat Transfer Fluid Market Size, By Country, 2017–2024 (USD Million)
Table 15 APAC: HTFs Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 16 APAC: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 17 China: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 18 China: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 19 India: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 20 India: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 21 Japan: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 22 Japan: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 23 South Korea: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 24 South Korea: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 25 Indonesia: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 26 Indonesia: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 27 Thailand: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 28 Thailand: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 29 Rest of APAC: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 30 Rest of APAC: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 31 Europe: Heat Transfer Fluids Market Size, By Country, 2017–2024 (Ton)
Table 32 Europe: Heat Transfer Fluid Market Size, By Country, 2017–2024 (USD Million)
Table 33 Europe: HTFs Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 34 Europe: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 35 Germany: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 36 Germany: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 37 Russia: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 38 Russia: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 39 France: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 40 France: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 41 UK: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 42 UK: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 43 Italy: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 44 Italy: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 45 Rest of Europe: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 46 Rest of Europe: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousands)
Table 47 North America: Heat Transfer Fluids Market Size, By Country, 2017–2024 (Kiloton)
Table 48 North America: Heat Transfer Fluid Market Size, By Country, 2017–2024 (USD Million)
Table 49 North America: HTFs Market Size, By End-Use Industry, 2017–2024 (Kiloton)
Table 50 North America: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 51 US: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 52 US: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 53 Canada: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 54 Canada: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 55 Mexico: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 56 Mexico: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 57 Middle East & Africa: Heat Transfer Fluids Market Size, By Country, 2017–2024 (Kiloton)
Table 58 Middle East & Africa: Heat Transfer Fluid Market Size, By Country, 2017–2024 (USD Million)
Table 59 Middle East & Africa: HTFs Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 60 Middle East & Africa: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 61 Saudi Arabia: Heat Transfer Fluids Market Size, End-Use Industry, 2017–2024 (Ton)
Table 62 Saudi Arabia: HTFs Market Size, End-Use Industry, 2017–2024 (USD Thousand)
Table 63 UAE: Heat Transfer Fluid Market Size, End-Use Industry, 2017–2024 (Ton)
Table 64 UAE: HTFs Market Size, End-Use Industry, 2017–2024 (USD Thousand)
Table 65 Rest of the Middle East & Africa: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 66 Rest of the Middle East & Africa: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 67 South America: Heat Transfer Fluids Market Size, By Country, 2017–2024 (Kiloton)
Table 68 South America: Heat Transfer Fluid Market Size, By Country, 2017–2024 (USD Million)
Table 69 South America: HTFs Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 70 South America: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Million)
Table 71 Brazil: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 72 Brazil: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 73 Argentina: Heat Transfer Fluid Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 74 Argentina: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 75 Rest of South America: Heat Transfer Fluids Market Size, By End-Use Industry, 2017–2024 (Ton)
Table 76 Rest of South America: HTFs Market Size, By End-Use Industry, 2017–2024 (USD Thousand)
Table 77 New Product Launch, 2015–2019
Table 78 Investment & Expansion, 2015–2019
Table 79 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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