The CMFE practice at MarketsandMarkets is pleased to announce Presentation on the “Global Heat Transfer Fluid Market – By Product Type [Mineral Oils, Silicone & Aromatics, PAG & Glycol Based Products & Others], Applications & Geography – Forecasts To 2017”. The briefing will cover an overview of drivers and opportunities, factors limiting the growth of global heat transfer fluids market. It also includes the imperatives to survive in this industry with the burning issues.
Thermic fluids also known as heat transfer fluids are widely used in industrial processing such as chemical & plastic processing, food & beverage processing, pharmaceutical processing, etc. Thermic fluids are also used in Concentrated solar power plants, Oil & gas refining infrastructure, etc. Growing investments in concentrating solar power plants are expected to be a major driver for thermic fluid market growth.
The global market for heat transfer fluids in terms of revenue was estimated to be worth $1,684.0 million in 2011 and is expected to reach $2,557.2 million by 2017, growing at a CAGR of 7.4% from 2012 to 2017. Silicone and aromatics are expected to be the largest and fastest growing product type in the forecasted period. The strong gains are driven by the robust growth of silicone and aromatic product type in the industrial processes owing to their advanced properties and superior performance.
Growing need for the thermal efficiency and operational functions in the industrial applications is set to benefit the market for heat transfer fluids. The improved heat transfer efficiency provided by the heat transfer fluids reduces total energy requirements of a system and increases longevity of the system. As the efficiency of the heat transfer system increases, the energy that is required to maintain the fluid’s bulk operating temperature lessens. With that there’s an immediate reduction of energy costs, increase of production output, and also reduces the environmental impact of the system.
With the huge market potential and the growing demand, the global heat transfer fluid market is likely to witness considerable growth. The continued research and development in the field of HTFs is expected to provide new and interesting advancements in the emergence of new applications and expansion of existing applications for thermic fluids.
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