Heat Transfer Fluid Market Report: Trends, Forecast and Competitive Analysis to 2030

Heat Transfer Fluid Trends and Forecast

The future of the global heat transfer fluid market looks promising with opportunities in the oil & gas, chemical industry, CSP, food & beverage, plastic, pharmaceutical, and HVAC markets. The global heat transfer fluid market is expected to reach an estimated $6.3 billion by 2030 with a CAGR of 8.7% from 2024 to 2030. The major drivers for this market are growing number of concentrated solar power facilities are being developed, increased usage of heat transfer fluids to conserve energy and lower operating expenses, and growing need for energy saving and sustainable energy.

A more than 150-page report is developed to help in your business decisions.

Heat Transfer Fluid by Segment

The study includes a forecast for the global heat transfer fluid by product, application, and region.

Heat Transfer Fluid Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Silicone Fluids
• Aromatic Fluids
• Mineral Oils
• Glycol-Based Fluids
• Other

Heat Transfer Fluid Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Oil & Gas
• Chemical Industry
• CSP
• Food & Beverages
• Plastics
• Pharmaceuticals
• HVAC
• Others

Heat Transfer Fluid Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Heat Transfer Fluid Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies heat transfer fluid companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the heat transfer fluid companies profiled in this report include-

• Dynalene
• Indian Oil
• KOST
• Hindustan Petroleum
• Delta Western
• British Petroleum
• Huntsman
• Royal Dutch Shell
• Eastman Chemical Company
• Phillips 66

Heat Transfer Fluid Market Insights

Lucintel forecasts that glycol-based fluid is expected to witness the highest growth over the forecast period because it possess superior antifreeze qualities, they work well in both high- and low-temperature applications, along with becoming more and more important as one of the essential constituents in heat transfer fluid formulations.

APAC will remain the largest region over the forecast period due to the population growth, shifting weather patterns, rising urbanization, and demographic shifts in the two economic superpowers, China and India.

Features of the Global Heat Transfer Fluid Market

Market Size Estimates: Heat transfer fluid market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Heat transfer fluid market size by product, application, and region in terms of value ($B).

Regional Analysis: Heat transfer fluid market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product, application, and regions for the heat transfer fluid market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the heat transfer fluid market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the heat transfer fluid market size?

Answer: The global heat transfer fluid market is expected to reach an estimated $6.3 billion by 2030.

Q2. What is the growth forecast for heat transfer fluid market?

Answer: The global heat transfer fluid market is expected to grow with a CAGR of 8.7% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the heat transfer fluid market?

Answer: The major drivers for this market are growing number of concentrated solar power facilities are being developed, increased usage of heat transfer fluids to conserve energy and lower operating expenses, and growing need for energy saving and sustainable energy.

Q4. What are the major segments for heat transfer fluid market?

Answer: The future of the global heat transfer fluid market looks promising with opportunities in the oil & gas, chemical industry, CSP, food & beverage, plastic, pharmaceutical, and HVAC markets.

Q5. Who are the key heat transfer fluid market companies?

Answer: Some of the key heat transfer fluid companies are as follows.

• Dynalene
• Indian Oil
• KOST
• Hindustan Petroleum
• Delta Western
• British Petroleum
• Huntsman
• Royal Dutch Shell
• Eastman Chemical Company
• Phillips 66

Q6. Which heat transfer fluid market segment will be the largest in future?

Answer: Lucintel forecasts that glycol-based fluid is expected to witness the highest growth over the forecast period because it possess superior antifreeze qualities, they work well in both high- and low-temperature applications, along with becoming more and more important as one of the essential constituents in heat transfer fluid formulations.

Q7. In heat transfer fluid market, which region is expected to be the largest in next 5 years?

Answer: APAC will remain the largest region over the forecast period due to the population growth, shifting weather patterns, rising urbanization, and demographic shifts in the two economic superpowers, China and India.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the heat transfer fluid market by product (silicone fluids, aromatic fluids, mineral oils, glycol-based fluids, and other), application (oil & gas, chemical industry, CSP, food & beverages, plastics, pharmaceuticals, HVAC, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?