Global Market Size of Heat Transfer Fluids Market – 10 Year Market Forecast

Chemicals

Heat Transfer Fluids Market Size Forecast 2022-2029

 

The size of the global heat transfer fluids market is expected to reach a value of USD 4.15 billion in 2022 to USD 9.19 billion by 2029, at an estimated CAGR of 12%. The cumulative market size over the forecast period is calculated to be USD 57 billion. The APAC region is expected to account for the largest market revenue and shares for the heat transfer fluids market. By type, synthetic fluids dominate the market. The increased demand for chemicals from various sectors such as the automotive industry, consumer goods, energy and resources, etc. increased the manufacturing of chemicals resulting in a surge of demand for heat transfer fluids from the chemical industry.

Frequently Asked Questions(FAQ)

• What is Global Market Database?

• The heat transfer fluids vertical is studied by Global Market Database to provide relevant market information to industry players.
• What are the driving factors of the heat transfer fluids market?

• Heat transfer fluids have improved performance and better heat transfer qualities compared to petrolium oils having similar viscosity.
• What are the restraining factors of the heat transfer fluids market?

• Explosion and fire hazards posed by the HFTs along with the possibility of degradation of fluids such as mineral oils over time restrain the market growth.
• Which properties of HFTs offers new oppurtunities for market growth?

• Thermal HFTs lower enegry consumption in processing industries and offer more effective ways to utilize heat productively with reduced operating costs.
• Which end-use industry is expected to account for the largest market shares over the forecast period?

• The chemical industry is expected to account for the largest market shares over the forecast period.

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