Heat Transfer Fluids Market Size: Overview by Industry Trends, Share, Growth Factor and Analysis to 2026

(The Express Wire via Comtex)

Heat Transfer Fluids Market In Depth Analysis By Total Revenue And Industry Growth Rate Forecast Till 2025

The global heat transfer fluids market is projected to grow at a remarkable rate owing to a rise in the number of vehicles across the world. This information is published in an upcoming report by Fortune Business Insights, titled, “Heat Transfer FluidsMarket Size, Share and Global Trend By Type (Mineral Fluid, Synthetic Fluid, Glycols, Others), By Application (Oil and Gas, Chemical Processing, Automotive, Renewable Energy, Pharmaceuticals, Food and Beverages) and Geography Forecast till 2026.” The report further mentions that there is an increasing demand for energy that has resulted in the growth of exploration activities that are taking place at both offshore and onshore locations. Moreover, the masses of various parts of the world are utilizing concentrated solar power. All these factors are likely to impact the heat transfer fluids market size positively during the forecast period.

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Fortune Business Insights profiles some of the most prominent companies operating in the heat transfer fluids market. They are as follows:

  • Lanxess
  • DOW
  • Schultz Canada Chemicals Ltd.
  • ExxonMobil
  • Eastman Chemical Company
  • Chevron
  • Huntsman Corporation
  • Radco Industries
  • Paratherm -Heat Transfer Fluids
  • BP
  • BASF
  • Philips 66
  • Royal Dutch Shell
  • Global Heat Transfer
  • Key Market Driver Growth in exploration and automotive sector
  • Key Market Restraint Unawareness regarding advantages of heat transfer fluids

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The report consists of accurately examined and assessed data of the key industry players and their scope in the market by implementing various analytical tools. The tools include investment return analysis, feasibility study, and Porter’s five forces analysis. It is one of the most accurate sources to exponentially accelerate your enterprise. Besides, it highlights the heat transfer fluids market trends, regional analysis, growth drivers, challenges, changing consumer behavior, and other related insights.

Increasing Demand for Automobiles to Favor Growth in Asia Pacific

The heat transfer fluids market can be geographically segregated into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Amongst these regions, Asia Pacific is expected to grow at a fast pace during the forthcoming years. The main reason for the growth is the increasing industrial investment and rising demand for automobiles in this region. Developing nations, such as India and China would showcase maximum growth. Asia Pacific is considered to be an automotive and industrial hub.

In North America and Europe, there is a rise in the planned installation of concentrating solar power. It will propel the heat transfer fluids market growth in both regions. Europe, on the other hand, is at present, exhibiting a rapid growth of food and beverage industry. In the Middle East, new petrochemical plants and refineries are being set up persistently. Apart from that, there is a rise in the number of exploration activities that will augment the market in this region in the coming years.

Griffin and ExxonMobil Engage in Joint Ventures to Gain Competitive Edge in Market

The market consists of manufacturers of all sizes and hence, it is highly competitive. The competitive landscape is extremely skewed towards the mammoth companies who constantly involve in joint ventures, acquisitions, and mergers with other companies to acquire new technologies, products, or high heat transfer fluids market share. Below are a few of the latest industry developments:

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May 2019: Griffin Thermal Products, a designer and manufacturer of innovative thermal transfer products, headquartered in Piedmont, announced that it has entered in a joint venture with Evans Waterless Coolants. The venture made Evans Waterless Coolant the official coolant of Griffin Radiator. The connection between the right coolant and radiator is vital to increase the efficiency of the cooling system. The combination of the unique benefits of Evans Waterless Coolant with a premium Griffin radiator prolongs the life of an engine’s cooling system and radiator. It also aids in improving performance.

June 2019: ExxonMobil, a multinational oil and gas corporation based in Irving, declared that it has joined hands with SABIC, a petrochemical manufacturing company, headquartered in Saudi Arabia to construct an ethane cracker plant near Corpus Christi in Texas. The company is ready to start construction and the total deal is worth USD 10 Billion. Construction is anticipated to begin in the third quarter of 2019 and it is expected to be done by 2022. The selected engineering, procurement, and construction organizations are Mitsubishi Heavy Industries, the Wood Group, Zachry Group, Chiyoda and Kiewit, and McDermott and Turner Industries Group.

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Major Table of Content ForHeat Transfer FluidsMarket:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  4. Key Insights
  5. Global Heat Transfer Fluids Market Analysis, Insights and Forecast, 2014-2025
  6. North America Heat Transfer Fluids Market Analysis, Insights and Forecast, 2014- 2025
  7. Europe Heat Transfer Fluids Market Analysis, Insights and Forecast, 2014-2025
  8. Asia Pacific Heat Transfer Fluids Market Analysis, Insights and Forecast, 2014-2025
  9. The Middle East and Africa Heat Transfer Fluids Market Analysis, Insights and Forecast, 2014-2025
  10. Latin America Heat Transfer Fluids Market Analysis, Insights and Forecast, 2014-2025
  11. Competitive Landscape
  12. Company Profile
  13. Conclusion

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