New Report on Global Heat Transfer Fluid Industry 2017 at Market Research Nest

106 adds “Global Heat Transfer Fluid Market 2017-2021” new report to its research database. The report spread across 110 pages with table and figures in it.


Research analysts forecast the global heat transfer fluid market to grow at a CAGR of 5.89% during the period 2017-2021.


About Heat Transfer Fluid

Heat transfer fluids are used in a wide range of industrial applications, such as chemical industry, solar power plants, plastics and polymers, and oil and gas, which involve extreme temperature ranges. Numerous kinds of heat transfer fluids are used in industries depending on the nature of applications. Some of them are silicone and aromatics, while others are glycol-based fluids, mineral oils, and molten salts. Heat transfer fluids generally function in a temperature range of 0°F-43°F.


Covered in this report

The report covers the present scenario and the growth prospects of the global heat transfer fluid market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.


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The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA


Technavio’s report, Global Heat Transfer Fluid Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.


Technavio recognizes the following companies as the key players in the global heat transfer fluid market: British Petroleum, Eastman Chemical Company, Exxon Mobil, Royal Dutch Shell, and The Dow Chemical Company.


Other Prominent Vendors in the market are: BASF, Chevron, and Huntsman International.


Commenting on the report, an analyst from Research team said: “One trend in the market is technological advances in heat transfer fluid product portfolio. Commercial concentrated solar power (CSP) plants are still largely based on mineral oil parabolic trough technology (developed approximately 30 years ago) and molten-salt and direct steam generation towers. The inability to store energy negates the benefits of solar thermal power.”


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According to the report, one driver in the market is developing chemical industry in China and India. The chemical industry contributes significantly to the industrial and economic growth of a nation. As this industry has several forward and backward links, it is called the backbone of the manufacturing and agricultural development of the country and provides building blocks to many downstream industries. This industry is crucial for other manufacturing sectors such as paper, textiles, leather, and paints. High domestic consumption is a key driver of the chemical industry in India. India consumes more than 30% of its domestic chemical production. Increasing urbanization and rising disposable income in the country drive the demand for chemicals by the adhesives, paints, and construction activities. Chemicals account for around 6% of the total exports by India.


Further, the report states that one challenge in the market is declining crude oil prices. The decline in oil prices has compelled market players to implement cost-cutting measures such as workforce layoffs and rig idling. Brent crude oil was valued at $110.45 per barrel in 2014, and it dipped to $30.65 per barrel in 2015. Cost-intensive activities, such as drilling and exploration, were curtailed in the oil and gas industry, which reduced the demand for heat transfer fluids. In May 2015, the rig count in North America was 985 (year-over-year decline of 53%). The decline in oil prices has made advanced drilling activities, such as offshore exploration and unconventional resources development, economically challenging in regions such as Europe and North America.


The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.


Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;


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