Heat Transfer Fluids Market is Expected to Reach US$ 14.42 Billion by 2028

Nov 22, 2023

IMARC Group, a leading market research company, has recently released a report titled “Heat Transfer Fluids Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. The study provides a detailed analysis of the industry, including the heat transfer fluids market size, share, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the Heat Transfer Fluids Market?

The global heat transfer fluids market size reached US$ 10.56 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.42 Billion by 2028, exhibiting a growth rate (CAGR) of 5.20% during 2023-2028.

What are Heat Transfer Fluids?

Heat transfer fluids (HTFs), or thermic fluids, refer to chemicals in liquid or vapor form that disseminate heat from one system to another. They are manufactured using synthetically formulated hydrocarbons, highly refined petroleum, or silicone. Heat transfer fluids assist in preventing overheating and facilitate the storage of thermal energy. In addition to this, they also offer high temperatures at low system pressures and provide several benefits, such as non-corrosive nature, high thermal conductivity and diffusivity, low viscosity, and prolonged operating lifetimes. As a result, heat transfer fluids find widespread applications in the condenser, regenerator, reboiler, and exchanging systems across the processing facilities of various sectors, including automotive, chemical, oil and gas, renewable energy, and pharmaceutical.

Request for a sample copy of this report: https://www.imarcgroup.com/heat-transfer-fluids-market/requestsample

What are the growth prospects and trends in the heat transfer fluids industry?

The extensive utilization of concentrated solar power (CSP) plants and the escalating product demand for collecting energy from the solar field and transporting it to the storage systems, wherein the reserved power is used for electricity generation, are primarily driving the heat transfer fluids market. Besides this, the elevating requirement for these chemicals during various stages of natural gas processing, such as sweetening, glycol dehydration, and fractionation, is further augmenting the market growth. Moreover, the growing popularity of heat transfer fluids in heating and cooling applications at food processing facilities for additive manufacturing, vegetable oil deodorizing, and packaging production is also catalyzing the global market. Apart from this, rising product usage in refining processes as a medium for heating reboilers of fractionation units and overhead cooling condensers is acting as another significant growth-inducing factor. Furthermore, the increasing need for these chemicals for indirect heating of process liquids and polymers, single fluid batch processing, low-pressure cogeneration, and drying of bulk materials is anticipated to propel the heat transfer fluids market over the forecasted period.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

End User Insights:

Market Breakup by Region:

Who are the key players operating in the industry?

The report covers the major market players including:

Ask Analyst for Sample Report: https://www.imarcgroup.com/request?type=report&id=7263&flag=C

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Read Other Reports :

Barium Fluoride Project Report 2023: Manufacturing Process, Plant Cost, & Business Plan

Carbon Dioxide Project Report 2023: Business Plan, Manufacturing Process and Plant Cost

Isopropyl Myristate Project Report 2023: Business Plan, Manufacturing Process and Plant Cost

Manganese(II) Sulfate Project Report 2023: Plant Cost, Manufacturing Process, & Business Plan

Silver Oxide Project Report 2023: Plant Cost, Manufacturing Process, & Business Plan

Sodium Fluoride Project Report 2023: Plant Cost, Manufacturing Process, & Business Plan

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC GroupEmail: [email protected]: +1-631-791-1145 | Asia: +91-120-433-0800Address: 134 N 4th St. Brooklyn, NY 11249, USAFollow us on Twitter: @imarcglobal