Heat Transfer Fluid Market: Analysis, Segments, Current News, Industry Growth, and Forecasts Report
Category: #business  By Ronak Bora  Date: 2020-01-16
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Heat Transfer Fluid Market: Analysis, Segments, Current News, Industry Growth, and Forecasts Report

The report also delivers a concise analysis about the competitive landscape of this industry. All the details of the global heat transfer fluid market have been outlined in the report in exceptional detail, in a systemic pattern, post conducting a detailed evaluation of the driving factors, hindering parameters, as well as the future prospects of the industry.

Rapid industrialization in developing countries particularly in the manufacturing sectors including chemical and automotive will drive heat transfer fluid demand. Favorable foreign direct investment in manufacturing sector, mainly in Asian economies along with the availability of cheap labor has supported the product penetration.

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The research report delivers a basic outline of the heat transfer fluid market – this is inclusive of the market definition, numerous classifications, as well as applications. the report provides an examination of the industry players – at a global as well as regional level, in detail. the study includes a gist of the forecast trends and demand until the year 2026. also, the report contains details about the significant companies, innovations, technologies, as well as innovations, and the factors impacting the product demand.

The major regions in the heat transfer fluid market that are likely to establish a coveted position in the industry and the ones who have major scope for improvement are enlisted in the report. also, a detailed evaluation of the latest technological advancements in the industry, in tandem with the detailed profiles of the major companies in the market have been given, as well as a unique model analysis.

Expansion in oil & gas, chemical and metal processing industries accompanied by the promising environment protocols will drive heat transfer fluid market. Temperature control property and cost saving operation relative to its counterparts including electric and steam will support heat transfer fluid market scope.

Heat Transfer Fluid Market has been gaining an edge successfully in terms of revenue streams and profitability quotient, given the increasing penetration of concentrated solar power in the renewable energy matrix. In fact, it would not be overstated to assert that the key to success of any CSP plant majorly grounds on the quality of heat transfer fluids that are being utilized in running the plant, pertaining to the fact these fluids transfer heat from one component to another and finally to the power block, where the heat energy is converted into electricity. Global concentrated solar power installed capacity has witnessed a growth of 1.56% over 2015-2016, reaching almost 5017 MW by the end of 2016, claims CSPPLAZA research center, China. Not to mention, the aforementioned statistic has left a perpetual influence on the demand curve of heat transfer fluid industry, with CSP having chronicled the title of the most lucrative revenue ground for the overall business fraternity. As per estimates, heat transfer fluid industry from CSP application is slated to record a CAGR of 7% over 2017-2024.

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Rising demand for the thermal management along with increasing recognition of renewal energy among consumers in developed countries including Japan and China is expected to drive the HTF landscape. Other than North America, the expansion of heat transfer fluid industry is quite vivid across the Asia Pacific region. The developing countries in APAC have been witnessing transformative trends, which in turn is driving considerable growth in CSP, food & beverage, pharmaceutical, and chemical sectors, the result of which is propelling the regional heat transfer fluid market. Pertaining to the same, APAC heat transfer fluid industry size was valued at over USD 550 million in 2016. Industry experts further predict the favorable governmental policies and initiatives for clean energy generation and CSP installations to help this business thrive amidst challenges. It wouldn’t be incorrect to say that these initiatives proclaimed by regional governments have prompted several companies to make sizable business investments in the Asia Pacific, on the grounds of which APAC has been forecast to witness a CAGR of over 7% over 2017-2024.

Worldwide, heat transfer fluid industry is quite consolidated with renowned biggies procuring almost three fourths of the global share. Statistics depict that the presence of Dow Chemicals is rather dominant, covering almost 28% of the marketplace in 2016. While industry giants seek immense growth in the years ahead, a wide array of daunting challenges might hinder the business proliferation to some extent. Volatile crude oil price trends and stringent government regulations with regards to the toxicity of product are two major constraints that heat transfer fluid market players are presently dealing with. Despite these challenges, market investors are making big bets in research activities in a more progressive approach, vividly coherent from the agreements, mergers & acquisitions, product launches that are quite common in heat transfer fluid market ground.

Global heat transfer fluid market share is highly consolidated due to the presence of few key players in the industry. Dow Chemicals, Huntsman Corporation, BASF, Dynalene, KOST USA, Shin-Etsu and Duratherm are among the major industry participants.

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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