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Heat Transfer Fluid Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR44663
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The heat transfer fluid market share is expected to increase by USD 824.5 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.11%.

This heat transfer fluid market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers heat transfer fluid market segmentation by end-user (oil and gas, chemicals, csp, food, and beverage, and others), type (silicones and aromatics, mineral oils, glycol-based fluids, and others), and geography (North America, Europe, APAC, South America, and MEA). The heat transfer fluid market report also offers information on several market vendors, including BASF SE, BP Plc, Chevron Corp., Clariant International Ltd., Dow Inc., Dynalene Inc., Eastman Chemical Co., Exxon Mobil Corp., LANXESS AG, and Royal Dutch Shell Plc among others.

What will the Heat Transfer Fluid Market Size be During the Forecast Period?

Heat Transfer Fluid Market Size

Download Report Sample to Unlock the Heat Transfer Fluid Market Size for the Forecast Period and Other Important Statistics

 

Heat Transfer Fluid Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The developing chemical industry in china and india is notably driving the heat transfer fluid market growth, although factors such as fluctuating crude oil prices may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the heat transfer fluid industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Heat Transfer Fluid Market Driver

Developing the chemical industry in China and India is one of the key factors driving the growth of the global heat transfer fluid market. The chemical industry contributes significantly to the industrial and economic growth of a nation. As this industry has several forward and backward links, it is called the backbone of the manufacturing and agricultural development of the country and provides building blocks to many downstream industries. This industry is crucial for other manufacturing sectors such as paper, textiles, leather, and paints. High domestic consumption is a key driver of the chemical industry in India. Though China’s economic growth has decelerated, the country continues to be a key market for all the leading global chemical suppliers. By 2025, the country is anticipated to be a key importer of commodity chemicals. However, global companies in the country will produce products that will be crucial for the economic growth of the country. The growth of the chemical industry in India and China is anticipated to drive the demand for heat transfer fluids during the forecast period.

Key Heat Transfer Fluid Market Trend

Technological advances in heat transfer fluids product portfolio will fuel the global heat transfer fluid market growth. Commercial concentrated solar power (CSP) plants are still largely based on mineral oil parabolic trough technology (developed approximately 30 years ago) and molten salt and direct steam generation towers. The inability to store energy negates the benefits of solar thermal power. New developments in heat transfer media (HTM) that help attain high temperatures and enable easy storage are essential to unleash the true potential of CSP systems.  Attaining high temperatures is crucial for cost reductions as they can increase power conversion efficiencies and enhance storage densities. These factors decrease the cost of storage units and the overall cost of the collector field. Enhancement in heat transfer fluids (HTFs) and storage solutions reduce the Levelized cost of electricity (LCOE) by 2.4% in the central receiver and 5.7% in parabolic troughs CSP plants. Moreover, advances in receivers that enhance the efficiency of solar power plants require significant investments. The development of new molten salts that have low melting temperatures and resist high temperatures are likely to considerably improve the performance of the existing receivers.

Key Heat Transfer Fluid Market Challenge

Fluctuating crude oil prices are major challenges for the global heat transfer fluid market growth. Fluctuations in the prices of crude oil and natural gas have a corresponding effect on the profit margins of oil and gas producing companies. Hence, these companies adopt various cost-cutting measures. Moreover, the prices of diversified chemicals are directly dependent on their manufacturing costs. Fluctuations in the prices of crude oil and natural gas have a corresponding effect on the manufacturing cost of crude products, which significantly affects the prices of chemicals and compels market suppliers to adopt various cost-cutting measures. Thus, the price volatility of petroleum-based raw materials is hindering the growth of the global diversified chemicals industry. Such strong fluctuations in crude oil and natural gas prices are caused by a systematic demand-supply imbalance in the global crude oil and natural gas market. Moreover, fluctuating oil prices have made advanced drilling activities, such as offshore exploration and unconventional resources development, economically challenging in regions such as Europe and North America. Several offshore drilling companies minimize cost by reducing the number of operations during a dip in crude oil prices, which adversely affects the vendors of heat transfer fluids.

This heat transfer fluid market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global heat transfer fluid market as a part of the global specialty chemicals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the heat transfer fluid market during the forecast period.

Who are the Major Heat Transfer Fluid Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • BASF SE
  • BP Plc
  • Chevron Corp.
  • Clariant International Ltd.
  • Dow Inc.
  • Dynalene Inc.
  • Eastman Chemical Co.
  • Exxon Mobil Corp.
  • LANXESS AG
  • Royal Dutch Shell Plc

 

This statistical study of the heat transfer fluid market encompasses successful business strategies deployed by the key vendors. The heat transfer fluid market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • BASF SE - The company offers a range of polyalkylene glycols under brands like Breox, Plurasafe, and Pluracol.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The heat transfer fluid market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Heat Transfer Fluid Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the heat transfer fluid market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global specialty chemicals market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Heat Transfer Fluid Market?

Heat Transfer Fluid Market Share by Geography

For more insights on the market share of various regions Request PDF Sample now!

52% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for heat transfer fluid market in APAC. Market growth in this region will be faster than the growth of the market in regions.

Developing the chemical industry in China and India will facilitate the heat transfer fluid market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The outbreak of the COVID-19 pandemic in 2020 had a severe impact on the regional heat transfer fluid market. China, India, and Japan were severely hit by the pandemic. Due to this pandemic, several countries across APAC, including India, China, Japan, and Australia, implemented a lockdown to limit the spread of COVID-19. International as well as domestic transportation and industrial production activities were halted, which disrupted the supply chain for various industries, including chemical, automotive, food and beverage, and plastics. These factors, therefore, led to a decrease in the demand for heat transfer fluids in 2020. However, a gradual rise in economic activities and lifting of lockdowns, and an increase in the investment in R&D by the vendors are expected to drive the regional market growth during the forecast period.

What are the Revenue-generating End-user Segments in the Heat Transfer Fluid Market?

Heat Transfer Fluid Market Share

To gain further insights on the market contribution of various segments Request PDF Sample

The heat transfer fluid market share growth in the Oil and gas segment will be significant during the forecast period. The development of natural gas has enhanced the potential of gas processing plants and has increased the demand for pipelines in regions that have abundant reserves of natural gas.

This report provides an accurate prediction of the contribution of all the segments to the growth of the heat transfer fluid market size and actionable market insights on post COVID-19 impact on each segment.

 

Heat Transfer Fluid Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.11%

Market growth 2021-2025

$ 824.5 million

Market structure

Fragmented

YoY growth (%)

3.65

Regional analysis

North America, Europe, APAC, South America, and MEA

Performing market contribution

APAC at 52%

Key consumer countries

China, US, Germany, Japan, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

BASF SE, BP Plc, Chevron Corp., Clariant International Ltd., Dow Inc., Dynalene Inc., Eastman Chemical Co., Exxon Mobil Corp., LANXESS AG, and Royal Dutch Shell Plc

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Heat Transfer Fluid Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive heat transfer fluid market growth during the next five years
  • Precise estimation of the heat transfer fluid market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the heat transfer fluid industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of heat transfer fluid market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Specialty chemicals

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2020 & 2025
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 Oil and gas - Market size and forecast 2020-2025
      • Exhibit 17: Oil and gas - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Oil and gas - Year-over-year growth 2020-2025 (%)
    • 5.4 Chemicals - Market size and forecast 2020-2025
      • Exhibit 19: Chemicals - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Chemicals - Year-over-year growth 2020-2025 (%)
    • 5.5 CSP - Market size and forecast 2020-2025
      • Exhibit 21: CSP - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: CSP - Year-over-year growth 2020-2025 (%)
    • 5.6 Food and beverage - Market size and forecast 2020-2025
      • Exhibit 23: Food and beverage - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Food and beverage - Year-over-year growth 2020-2025 (%)
    • 5.7 Others - Market size and forecast 2020-2025
      • Exhibit 25: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
    • 5.8 Market opportunity by End-user
      • Exhibit 27: Market opportunity by End-user

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 28: Type - Market share 2020-2025 (%)
    • 6.2 Comparison by Type
      • Exhibit 29: Comparison by Type
    • 6.3 Silicones and aromatics - Market size and forecast 2020-2025
      • Exhibit 30: Silicones and aromatics - Market size and forecast 2020-2025 ($ million)
      • Exhibit 31: Silicones and aromatics - Year-over-year growth 2020-2025 (%)
    • 6.4 Mineral oils - Market size and forecast 2020-2025
      • Exhibit 32: Mineral oils - Market size and forecast 2020-2025 ($ million)
      • Exhibit 33: Mineral oils - Year-over-year growth 2020-2025 (%)
    • 6.5 Glycol-based fluids - Market size and forecast 2020-2025
      • Exhibit 34: Glycol-based fluids - Market size and forecast 2020-2025 ($ million)
      • Exhibit 35: Glycol-based fluids - Year-over-year growth 2020-2025 (%)
    • 6.6 Others - Market size and forecast 2020-2025
      • 6.7 Market opportunity by Type
        • Exhibit 38: Market opportunity by Type

      7 Customer landscape

      8 Geographic Landscape

      • 8.1 Geographic segmentation
        • Exhibit 40: Market share by geography 2020-2025 (%)
      • 8.2 Geographic comparison
        • Exhibit 41: Geographic comparison
      • 8.3 APAC - Market size and forecast 2020-2025
        • Exhibit 42: APAC - Market size and forecast 2020-2025 ($ million)
        • Exhibit 43: APAC - Year-over-year growth 2020-2025 (%)
      • 8.4 Europe - Market size and forecast 2020-2025
        • Exhibit 44: Europe - Market size and forecast 2020-2025 ($ million)
        • Exhibit 45: Europe - Year-over-year growth 2020-2025 (%)
      • 8.5 North America - Market size and forecast 2020-2025
        • Exhibit 46: North America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 47: North America - Year-over-year growth 2020-2025 (%)
      • 8.6 MEA - Market size and forecast 2020-2025
        • Exhibit 48: MEA - Market size and forecast 2020-2025 ($ million)
        • Exhibit 49: MEA - Year-over-year growth 2020-2025 (%)
      • 8.7 South America - Market size and forecast 2020-2025
        • Exhibit 50: South America - Market size and forecast 2020-2025 ($ million)
        • Exhibit 51: South America - Year-over-year growth 2020-2025 (%)
      • 8.8 Key leading countries
        • Exhibit 52: Key leading countries
      • 8.9 Market opportunity by geography
        • Exhibit 53: Market opportunity by geography ($ million)

      9 Drivers, Challenges, and Trends

      • 9.1 Market drivers
        • 9.2 Market challenges
          • Exhibit 54: Impact of drivers and challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • 10.2 Vendor landscape
              • Exhibit 55: Vendor landscape
            • 10.3 Landscape disruption
              • Exhibit 56: Landscape disruption
              • Exhibit 57: Industry risks

            11 Vendor Analysis

            • 11.1 Vendors covered
              • Exhibit 58: Vendors covered
            • 11.2 Market positioning of vendors
              • Exhibit 59: Market positioning of vendors
            • 11.3 BASF SE
              • Exhibit 60: BASF SE - Overview
              • Exhibit 61: BASF SE - Business segments
              • Exhibit 62: BASF SE - Key news
              • Exhibit 63: BASF SE - Key offerings
              • Exhibit 64: BASF SE - Segment focus
            • 11.4 BP Plc
              • Exhibit 65: BP Plc - Overview
              • Exhibit 66: BP Plc - Business segments
              • Exhibit 67: ?BP Plc - Key news
              • Exhibit 68: BP Plc - Key offerings
              • Exhibit 69: BP Plc - Segment focus
            • 11.5 Chevron Corp.
              • Exhibit 70: Chevron Corp. - Overview
              • Exhibit 71: Chevron Corp. - Business segments
              • Exhibit 72: Chevron Corp. - Key offerings
              • Exhibit 73: Chevron Corp. - Segment focus
            • 11.6 Clariant International Ltd.
              • Exhibit 74: Clariant International Ltd. - Overview
              • Exhibit 75: Clariant International Ltd. - Business segments
              • Exhibit 76: Clariant International Ltd. - Key news
              • Exhibit 77: Clariant International Ltd. - Key offerings
              • Exhibit 78: Clariant International Ltd. - Segment focus
            • 11.7 Dow Inc.
              • Exhibit 79: Dow Inc. - Overview
              • Exhibit 80: Dow Inc. - Business segments
              • Exhibit 81: Dow Inc. - Key news
              • Exhibit 82: Dow Inc. - Key offerings
              • Exhibit 83: Dow Inc. - Segment focus
            • 11.8 Dynalene Inc.
              • Exhibit 84: Dynalene Inc. - Overview
              • Exhibit 85: Dynalene Inc. - Product and service
              • Exhibit 86: Dynalene Inc. - Key offerings
            • 11.9 Eastman Chemical Co.
              • Exhibit 87: Eastman Chemical Co. - Overview
              • Exhibit 88: Eastman Chemical Co. - Business segments
              • Exhibit 89: Eastman Chemical Co. - Key offerings
              • Exhibit 90: Eastman Chemical Co. - Segment focus
            • 11.10 Exxon Mobil Corp.
              • Exhibit 91: Exxon Mobil Corp. - Overview
              • Exhibit 92: Exxon Mobil Corp. - Business segments
              • Exhibit 93: Exxon Mobil Corp. - Key offerings
              • Exhibit 94: Exxon Mobil Corp. - Segment focus
            • 11.11 LANXESS AG
              • Exhibit 95: LANXESS AG - Overview
              • Exhibit 96: LANXESS AG - Business segments
              • Exhibit 97: ?LANXESS AG - Key news
              • Exhibit 98: LANXESS AG - Key offerings
              • Exhibit 99: LANXESS AG - Segment focus
            • 11.12 Royal Dutch Shell Plc
              • Exhibit 100: Royal Dutch Shell Plc - Overview
              • Exhibit 101: Royal Dutch Shell Plc - Business segments
              • Exhibit 102: Royal Dutch Shell Plc - Key offerings
              • Exhibit 103: Royal Dutch Shell Plc - Segment focus

            12 Appendix

            • 12.1 Scope of the report
              • 12.2 Currency conversion rates for US$
                • Exhibit 104: Currency conversion rates for US$
              • 12.3 Research methodology
                • Exhibit 105: Research Methodology
                • Exhibit 106: Validation techniques employed for market sizing
                • Exhibit 107: Information sources
              • 12.4 List of abbreviations
                • Exhibit 108: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Heat Transfer Fluid Market market growth will increase by $824.5 mn during 2021-2025.
              The heat transfer fluid market market is expected to grow at a CAGR of 6.11% during 2021-2025.
              Technavio has segmented the heat transfer fluid market market by end-user (oil and gas, chemicals, csp, food, and beverage, and others) ,type (silicones and aromatics, mineral oils, glycol-based fluids, and others) , and geography (North America, Europe, APAC, South America, and MEA).
              BASF SE, BP Plc, Chevron Corp., Clariant International Ltd., Dow Inc., Dynalene Inc., Eastman Chemical Co., Exxon Mobil Corp., LANXESS AG, Royal Dutch Shell Plc are a few of the key vendors in the heat transfer fluid market market.
              APAC will register the highest growth rate of 52% among the other regions. Therefore, the heat transfer fluid market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the heat transfer fluid market market growth are:
              • Developing chemical industry in China and India
              • Technological advances in heat transfer fluids product portfolio
              The heat transfer fluid market market vendors should focus on grabbing business opportunities from the oil and gas segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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