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Heat Transfer Fluids Market: Facts, Figures and Analytical Insights 2018 to 2022

Imminent need to manage excessive heat in several manufacturing industries including automotive, metal processing, pharmaceuticals, and food processing is a major factor driving heat transfer fluid demand across the globe. Surging requirement for application specific fluids with optimum thermal coefficient is also anticipated to fuel industry growth over the forecast period. Rapid industrialization in BRICS markets is expected to help in market development over the forecast period.

The Global Heat Transfer Fluids Market is expected to reach USD 3.68 billion by 2022, according to a new study by Grand View Research, Inc.


Stringent environment regulations coupled with volatile raw material prices are expected to pose threat to industry profitability. Development of bio-based or water-based heat transfer fluids is anticipated to create lucrative opportunities for industry participants.

Silicone & aromatics formed the largest product segment with demand share exceeding 40% in 2014. The segment is expected to gain share over next seven years on account of increasing  requirement for synthetic thermal oils in these applications is expected to drive the product market over the forecast period. Glycols are expected to witness maximum gains in its market size over the forecast period on account of excellent antifreeze properties.

Oil & gas was the leading application segment and accounted for 23.8% of total market volume in 2014. HTF demand in this segment is expected to witness a modest growth over the forecast period. Increasing use of heating oil in offshore oil & gas thermal processes is anticipated to fuel market growth.

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CSP is expected to witness significant gains in its size over the forecast period on account of growing energy demand and favorable government initiatives particularly in Spain, U.S. and Middle East.

Top Players of Heat Transfer Fluids Market:

Major companies operating in global heat transfer fluids market include Dow Chemicals, Shell, ExxonMobil, Eastman Company, BASF, Huntsman Corporation, Chevron Corporation.

Market Segmentation of Heat Transfer Fluids Market:

The Heat Transfer Fluids Market segmented on the basis of Product, Application and Region.

By Product:

    Silicone & Aromatics
    Mineral Oils
    Glycol-Based Fluids

By Application:

    Oil & Gas
    Chemical
    Concentrated Solar Power (CSP)
    Food & Beverages
    Plastics
    Pharmaceuticals
    Heating, Ventilating & Air Conditioning (HVAC)

By Region:

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

Inquire about Heat Transfer Fluids Market with Our Experts @ https://www.grandviewresearch.com/inquiry/1767
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