Lewes, DE -- (SBWire) -- 08/23/2016 --Report forecast the global heat transfer fluids market to grow at a CAGR of 5.81% during the period 2016-2020.
Heat transfer fluids have a varied range of applications in industries that function in the extreme temperature ranges such as the chemical, solar power, plastics and polymers, and oil and gas industries. Numerous kinds of heat transfer fluids are used in the industries depending upon their applications. Some of them are silicone and aromatics, glycol-based fluids, mineral oils, and molten salts. Heat transfer fluids generally function in a wide range of temperatures. The majority of heat transfer fluids are denser and have lower heat transfer efficiencies than water, resulting in the requirement for more surface area for the heat-exchange or high volumetric flow rates to withstand the identical system temperature. The ideal heat transfer fluids have low viscosity and, unlike water, do not freeze at low temperatures keeping the system efficient.
The report covers the present scenario and the growth prospects of the global heat transfer fluids market for 2016-2020. To calculate the market size, Technavio considers the revenue generated through sales of heat transfer fluids for end-user industries such as oil and gas, chemical industry, CSP, food and beverages, and plastic.
The market is divided into the following segments based on geography:
- APAC
- Europe
- North America
- ROW
According to the report, development of chemical industry in China and India will be a key driver for market growth. The chemical industry is one of the major end-user segments for the global heat transfer fluid market. So, development of this segment will boost the market for heat transfer fluids. The chemical industry contributes considerably toward the industrial and economic growth of key developing economies like China and India. This industry is important to the manufacturing and agricultural sectors of these countries and provides building blocks for many downstream industries, such as paper, textiles, leather, and paints.
Further, the report states that the emergence of substitutes for heat transfer fluids will be a major challenge for the market. Bio-based glycol is increasingly being used as the key constituent in heat transfer fluids. It has identical chemical formula as propylene glycol, but its structure is a little different owing to the fermentation process used to manufacture it. This minor structural alteration gives it improved thermal stability and a longer life for high-heat applications such as geothermal and solar process heating. Also, bio-based glycol exhibits more advantageous properties such as lower viscosity at low temperatures compared with propylene glycol. This can enhance pumping and energy proficiencies in uses related to cooling, and minimize maintenance costs.
Global Heat Transfer Fluids Market 2016-2020, 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.
key players in the global heat transfer fluid market: British Petroleum, Dow Chemical, Eastman, ExxonMobil, and Shell Chemicals.
Market driver
- Development of chemical industry in China and India
- For a full, detailed list, view our report
Market challenge
- Substitutes for heat transfer fluids
- For a full, detailed list, view our report
Market trend
- Technological advances in heat transfer fluid product portfolio
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 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?
Spanning over 61 pages and 42 Exhibit "Global Heat Transfer Fluids Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by end-user, Market segmentation by products, Market segmentation by geography, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/global-heat-transfer-fluids-market-2016-2020
Related Reports;
Global Medical Membranes Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-medical-membranes-market-2016-2020
Global Steel Sections Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-steel-sections-market-2016-2020
Global Biofertilizers Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-biofertilizers-market-2016-2020
Global Pressure-sensitive Adhesives Market 2016-2020 - Visit at - http://www.marketresearchreports.com/technavio/global-pressure-sensitive-adhesives-market-2016-2020
About Market Research Reports, Inc.
Market Research Reports, Inc. is the world's leading source for market research reports and market data. We provide you with the latest market research reports on global markets, key industries, leading companies, new products and latest industry analysis & trends.
Yearly/Quarterly Report Subscription: http://www.marketresearchreports.com/subscriptions
