Heat Transfer Fluid Market Definition
Heat transfer fluid is gas or liquid that performs heat transfer. It can be used to prevent overheating or for storing thermal energy. Fluid flows inside a system or a device so as to transfer the heat outside that particular device or system in order to prevent overheating. It is designed to provide precise temperature control in a variety of applications such as hydrocarbon processing, plastics processing, chemical processing, alternative energy and technologies, food and beverage processing and others.
The market study is broken down by Type (Mineral Oils, Synthetic Fluids, Glycols and Others), by Application (Chemical, Oil and Gas, Food and Beverage, Pharmaceutical, Renewable Energy, Automotive, HVACR and Others) and major geographies with country level splits.
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Heat Transfer Fluid market throughout the predicted period.
Dow Chemical Company (United States), ExxonMobil (United States), Eastman Chemical Company (United States), Chevron (United States), Huntsman Corporation (United States), LANXESS (Germany), Royal Dutch Shell Plc. (Netherlands), Schultz Canada Chemicals Ltd. (Canada), Paratherm (United States) and Clariant (Switzerland) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Sasol Limited (South Africa), Arkema (France), Global Heat Transfer Ltd. (United Kingdom), British Petroleum (United Kingdom), Dynalene, Inc. (United States) and Isel (United States).
AdvanceMarketAnalytics has segmented the market of Global Heat Transfer Fluid market by Type, Application and Region.
On the basis of geography, the market of Heat Transfer Fluid has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online Channel will boost the Heat Transfer Fluid market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On 1st April 2019, Eastman Chemical Company announced that it has acquired from Sasol, a global chemical and energy company, the Marlotherm heat transfer fluids manufacturing assets located in Germany and related formulations, intellectual property and customer contracts.
- Low Cost of Maintenance of Heat Transfer Fluid
- Increasing Demand in the Chemical Industry
- Rising Need for Energy Conservation
- Increasing Adoption of Heat Transfer Fluid Systems in Chemical, Automotive, Metal-Processing and Oil and Gas Sectors
- High Growth Potential in the CSP Industry
- Fluctuations in the Raw Material Prices
- Fire and Explosion Hazards
Key Target AudienceHeat Transfer Fluid Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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