Global Heat-Transfer Fluid Market, By Type (Mineral Oils, Pag and Glycol, Silicone and Aromatics, Others), By Application (Solar Power, Food & Beverages, Chemical Industries, Oil and Gas Industry, Pharmaceuticals, Bio-Diesel Production, manufacturing processes, Others), and opportunities and forecast 2020-2027
Covid-19 Impact on Heat-Transfer Fluid Market:
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, construction materials are facing diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in supply for raw materials, which directly affected the manufacturing process. Further, halt on many end-use industries directly affected the chemical demand all around the world.
Heat-Transfer Fluid Market Overview
Heat transfer fluids are gases or liquids specifically manufactured for transmitting heat from one system to another. HTFs provide better performance so they have a wide range of applications in chemical industries, petroleum processing, solar power plants, automobiles, and manufacturing processes. The global heat transfer fluids market is expected to increase progressively during the forecast period.
The heat transfer fluids are highly utilized in concentrated solar power (CSP) or solar energy generation. Globally, increasing demand for clean energy has led to the setup of several concentrated solar power plants. Also, the government of various countries such as the U.S., China, and India, are highly invested to set up solar power plants to fulfill the energy requirement. This significant aspect is likely to increase the demand for HTFs across the renewable energy industry. Rapid industrialization and urbanization in developing countries have led to an increase in the consumption of oil & gas. It ultimately increases the consumption of heat transfer fluids in oil & gas processing companies. This crucial factor is expected to fuel market growth in the near future.
On the downside, instability in raw material prices is expected to hamper the growth of the market.
Heat-Transfer Fluid Market Segment Overview
The mineral oils segment holds the major shares of the heat transfer fluid market. This is on account of increasingly being used in chemical manufacturing processes, pharmaceutical, refrigeration, and others. In addition, the silicones & aromatic segment shows notable growth in the market. This is because of the growing demand for synthetic thermal oils from the oil & gas and chemical industries.
Furthermore, HTFs will provide effective solutions to utilize heat more productively in many applications. For instance, propylene glycol-based HTFs offer good performance in medium-temperature secondary loop refrigeration. Also, it has low maintenance, better energy efficiency and, lowered refrigerant costs.
Heat-Transfer Fluid Market Regional Overview
Europe holds a dominant position in the market followed by Asia-Pacific, Owing to the growth in the energy sector. Spain and Germany are the major markets in Europe, due to growing industrial expansion in this region. The Asia Pacific is expected to grow at the fastest rate as compared to other regions. Emerging market in China and India is anticipated to increase the market share of Asia-Pacific in the global heat transfer fluids market during the forecast period.
Heat-Transfer Fluid Market Competitor overview
· In April 2019, Eastman Chemical Company acquired the Marlotherm HTFs manufacturing assets located in Germany from Sasol, a global chemical and energy company. This acquisition enables Eastman to expand its heat transfer fluids product offerings to customers around the globe.
· In August 2017, ExxonMobil Asia Pacific Pte Ltd acquired Jurong Aromatics Corporation Pte Ltd plant, which is one of the world’s largest aromatics plants located on Jurong Island, Singapore.
Heat-Transfer Fluid Market, Key Players
· Shell Corporation · ExxonMobil · BP · Solutia Inc. · The Dow Chemical’s Co. · Eastman Chemical Company · Chevron · Huntsman Corporation · Paratherm · BASF · Lanxess · Huntsman · Global Heat Transfer · Royal Dutch Shell plc. · Phillips 66 · Arkema
Heat-Transfer Fluid Market Segmentation
Heat-Transfer Fluid Market, By Type
· Mineral Oils, · Pag and Glycol · Silicone and Aromatics · Others
Heat-Transfer Fluid Market, By Application
· Solar Power · Food & Beverages · Chemical Industries · Oil and Gas Industry · Pharmaceuticals · Bio-Diesel Production · manufacturing processes · Others
Heat-Transfer Fluid market, By Region
North America
US
Canada
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Industry SWOT Analysis
4.5. Porters Five Forces Analysis
5. Global Heat-Transfer Fluid Market Analysis (USD Billion), Insights and Forecast, 2020-2027
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1. Mineral Oils,
5.2.2. Pag and Glycol
5.2.3. Silicone and Aromatics
5.2.4. Others
5.3. Market Analysis, Insights and Forecast – By Application
5.3.1. Solar Power
5.3.2. Food & Beverages
5.3.3. Chemical Industries
5.3.4. Oil and Gas Industry
5.3.5. Pharmaceuticals
5.3.6. Bio-Diesel Production
5.3.7. manufacturing processes
5.3.8. Others
5.4. Market Analysis, Insights and Forecast – By Region
5.4.1. North America
5.4.2. Latin America
5.4.3. Europe
5.4.4. Asia Pacific
5.4.5. Middle East and Africa
6. North America Heat-Transfer Fluid Market Analysis (USD Billion), Insights and Forecast, 2020-2027
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1. Mineral Oils,
6.2.2. Pag and Glycol
6.2.3. Silicone and Aromatics
6.2.4. Others
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1. Solar Power
6.3.2. Food & Beverages
6.3.3. Chemical Industries
6.3.4. Oil and Gas Industry
6.3.5. Pharmaceuticals
6.3.6. Bio-Diesel Production
6.3.7. manufacturing processes
6.3.8. Others
6.4. Market Analysis, Insights and Forecast – By Country
6.4.1. U.S.
6.4.2. Canada
7. Latin America Heat-Transfer Fluid Market Analysis (USD Billion), Insights and Forecast, 2020-2027
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Type
7.2.1. Mineral Oils,
7.2.2. Pag and Glycol
7.2.3. Silicone and Aromatics
7.2.4. Others
7.3. Market Analysis, Insights and Forecast – By Application
7.3.1. Solar Power
7.3.2. Food & Beverages
7.3.3. Chemical Industries
7.3.4. Oil and Gas Industry
7.3.5. Pharmaceuticals
7.3.6. Bio-Diesel Production
7.3.7. manufacturing processes
7.3.8. Others
7.4. Market Analysis, Insights and Forecast – By Country
7.4.1. Brazil
7.4.2. Mexico
7.4.3. Rest of Latin America
8. Europe Heat-Transfer Fluid Market Analysis (USD Billion), Insights and Forecast, 2020-2027
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Type
8.2.1. Mineral Oils,
8.2.2. Pag and Glycol
8.2.3. Silicone and Aromatics
8.2.4. Others
8.3. Market Analysis, Insights and Forecast – By Application
8.3.1. Solar Power
8.3.2. Food & Beverages
8.3.3. Chemical Industries
8.3.4. Oil and Gas Industry
8.3.5. Pharmaceuticals
8.3.6. Bio-Diesel Production
8.3.7. manufacturing processes
8.3.8. Others
8.4. Market Analysis, Insights and Forecast – By Country
8.4.1. UK
8.4.2. Germany
8.4.3. France
8.4.4. Italy
8.4.5. Spain
8.4.6. Russia
8.4.7. Rest of Europe
9. Asia Pacific Heat-Transfer Fluid Market Analysis (USD Billion), Insights and Forecast, 2020-2027
9.1. Key Findings / Summary
9.2. Market Analysis, Insights and Forecast – By Type
9.2.1. Mineral Oils,
9.2.2. Pag and Glycol
9.2.3. Silicone and Aromatics
9.2.4. Others
9.3. Market Analysis, Insights and Forecast – By Application
9.3.1. Solar Power
9.3.2. Food & Beverages
9.3.3. Chemical Industries
9.3.4. Oil and Gas Industry
9.3.5. Pharmaceuticals
9.3.6. Bio-Diesel Production
9.3.7. manufacturing processes
9.3.8. Others
9.4. Market Analysis, Insights and Forecast – By Country
9.4.1. China
9.4.2. India
9.4.3. Japan
9.4.4. Australia
9.4.5. South East Asia
9.4.6. Rest of Asia Pacific
10. Middle East & Africa Heat-Transfer Fluid Market Analysis (USD Billion), Insights and Forecast, 2020-2027
10.1. Key Findings / Summary
10.2. Market Analysis, Insights and Forecast – By Type
10.2.1. Mineral Oils,
10.2.2. Pag and Glycol
10.2.3. Silicone and Aromatics
10.2.4. Others
10.3. Market Analysis, Insights and Forecast – By Application
10.3.1. Solar Power
10.3.2. Food & Beverages
10.3.3. Chemical Industries
10.3.4. Oil and Gas Industry
10.3.5. Pharmaceuticals
10.3.6. Bio-Diesel Production
10.3.7. manufacturing processes
10.3.8. Others
10.4. Market Analysis, Insights and Forecast – By Country
10.4.1. GCC
10.4.2. South Africa
10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
11.1. Company Market Share Analysis, 2018
11.2. Key Industry Developments
11.3. Company Profile
11.4. Shell Corporation
11.4.1. Business Overview
11.4.2. Segment 1 & Service Offering
11.4.3. Overall Revenue
11.4.4. Geographic Presence
11.4.5. Recent Development
*Similar details will be provided for the following companies
11.5. ExxonMobil
11.6. BP
11.7. Solutia Inc.
11.8. The Dow Chemical’s Co.
11.9. Eastman Chemical Company
11.10. Chevron
11.11. Huntsman Corporation
11.12. Paratherm
11.13. BASF
11.14. Lanxess
11.15. Huntsman
11.16. Global Heat Transfer
11.17. Royal Dutch Shell plc.
11.18. Phillips 66
List of Figures
Figure 1: Global Heat-Transfer Fluid Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Heat-Transfer Fluid Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Heat-Transfer Fluid Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Heat-Transfer Fluid Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Heat-Transfer Fluid Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Heat-Transfer Fluid Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Heat-Transfer Fluid Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Heat-Transfer Fluid Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Heat-Transfer Fluid Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Heat-Transfer Fluid Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Heat-Transfer Fluid Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Heat-Transfer Fluid Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Heat-Transfer Fluid Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Market Revenue (USD Billion) Forecast, by Country, 2016-2027
