NEW YORK, March 16, 2016 /PRNewswire/ —
The global heat transfer fluids (HTFs) market was valued at an estimated $2,811.0 million in 2015, in terms of value; and it is expected to grow at a CAGR of 6.8% during 2016-2021. The factors driving the growth of the global market include growing chemical, petrochemical, and HVAC industries; expanding CSP activity in North America and Europe, and relatively higher replacement rates of synthetic aromatic HTFs. The key trend witnessed in the global market is the continuous effort to enhance the performance of HTFs. Although the HTF market is a mature industry with well-proven technology, it is evolving in order to meet the ever-changing demands of industrial processes and the environments in which they have to work. HTF manufacturing companies have introduced new variations that make them extremely efficient and long lasting. These variations are in form of additives that help to enhance one or more specific properties of HTFs, such as enhanced operating temperature range, less degradation on higher temperatures, fouling resistance, and corrosion resistance.
Explore Report with Detailed TOC on “Global Heat Transfer Fluids Market“ at: https://www.psmarketresearch.com/market-analysis/heat-transfer-fluids-market
Among the various HTF types, the aromatics & silicone segment is estimated to hold the largest share in the global HTFs market in terms of value in 2015; and it is also anticipated to witness the highest growth at 7.6% CAGR during the forecast period. Based on end-user, the oil & gas industry (the largest end-user segment in the global market) was estimated to consume 131.4 kilotons of HTFs in 2015. The HTFs consumption in the oil & gas industry is anticipated to reach 181.5 kilotons by 2021, growing at a CAGR of 5.5% during 2016 – 2021.
Europe was the largest market for heat transfer fluids in 2015, with a share of about 33.6%, in terms of HTFs consumption. Asia-Pacific is anticipated to be the fastest growing market for HTFs. The Asia-Pacific market is anticipated to reach $1,002.6 million by 2021, growing at a CAGR of 8.8% during the forecast period. The major reason behind the growth of the heat transfer fluids market in the region is the growth in intensity of manufacturing industry in India, Malaysia, Vietnam, Indonesia, and Thailand.
Request for Report Sample: https://www.psmarketresearch.com/market-analysis/heat-transfer-fluids-market/report-sample
The information and data in the publication “Global Heat Transfer Fluids Market Size, Share, Development, Growth and Demand Forecast to 2021“, represents the research and analysis of data from various primary and secondary sources. An amalgamation of bottom-up and top-down approach has been used to calculate the market size. P&S Market Research analysts and consultants interacted with leading companies of the concerned domain to substantiate every value of data presented in the report. The company bases its primary research on discussions with prominent professionals and analysts in the industry, which is followed by informed and detailed, online and offline research.
Browse Related Research at: https://www.psmarketresearch.com/industry-report/chemicals-materials-and-energy
Some of the major players operating in the global heat transfer fluids market are Honeywell International Inc., Exxon Mobil Corporation, Chevron Corporation, BASF SE, Bharat Petroleum Corporation Limited, The Dow Chemical Company, Hindustan Petroleum Corporation Limited, ConocoPhillips, Indian Oil Corporation Ltd., and Huntsman Corporation.
GLOBAL HEAT TRANSFER FLUIDS MARKET SEGMENTATION
- Mineral Oils
- Aromatics & Silicone
- Oil & Gas
- Concentrating Solar Power (CSP)
- Chemical Industry
- Manufacturing Processes
- Bio-Diesel Production
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Saudi Arabia
Other Published Report by P&S Market Research
Global Wax Market – https://www.psmarketresearch.com/market-analysis/wax-market
Global Biorefinery Market – https://www.psmarketresearch.com/market-analysis/biorefinery-market
Global Automotive Adhesive and Sealant Market – https://www.psmarketresearch.com/market-analysis/global-automotive-adhesive-and-sealant-market
About P&S Market Research:
P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals.
As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions.
Executive – Client Partner
347, 5th Ave. #1402
New York City, NY – 10016
Toll-Free: +1-888-778-7886 (USA/Canada)
SOURCE P&S Market Research