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Heat Transfer Fluids Market to Reach USD 5.37 Billion by 2027; High Investments in Product R&D will Yield a Wider Application Scope, says Fortune Business Insights™

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Pune, Dec. 08, 2020 (GLOBE NEWSWIRE) — The global heat transfer fluids market size is projected to reach USD 5.37 billion by the end of 2027. The increasing demand for concentrated solar power will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, titled “Heat Transfer Fluids Market Size, Share & Industry Analysis, By Type (Silicone Fluids, Aromatic Fluids, Mineral Oils, Glycol Based Fluids, and Others), By Application (Oil & Gas, Chemical, Concentrated Solar Power, Food & Beverages, Plastics, Pharmaceutical, HVAC and Others), and Regional Forecast, 2020-2027,” the market was worth USD 3.47 billion in 2019 and will exhibit a CAGR of 5.78% during the forecast period, 2020-2027.The recent coronavirus outbreak has had an adverse impact on the majority of businesses across the world. Accounting to the strict measures taken by governments of major countries, it has become increasingly difficult to carry out business operations. The report will include the impact of the Covid-19 pandemic on the global. It will also include the strategies that major companies are adopting to overcome the downfalls during this pandemic.
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List of the Leading Companies Profiled in the Global Heat Transfer Fluids Market are:Element Solutions Inc (U.S.)Caldic B.V. (Netherlands)Eastman Chemical Company (U.S.)Schultz Chemicals (Canada)Arkema S.A. (France)Isel (Florida)FRAGOL AG  (Germany)Clearco Products Co., Inc. (U.S.)Arteco (Belgium)Eastern Petroleum (North Carolina)Dynalene, Inc. (Pennsylvania)Honeywell International Inc. (U.S.)Exxon Mobil Corporation (U.S.)Chevron Corporation (U.S.)The Dow Chemical Company (U.S.)Huntsman Corporation (U.S.)
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Heat transfer fluids are widely used in several industry verticals including oil and gas, healthcare, chemicals, pharmaceuticals, and others. These fluids are used to transfer heat over two objects or areas; wherein they cool one side of the process and heat and store on the other side. The presence of several large scale companies with a wider consumer base and excellent product portfolios will open up a huge potential for the growth of the market. The massive investment in the research and development of efficient products will emerge in favor of market growth. The rising demand for concentrated solar power will contribute to the growing adoption for the product across the world. The increasing demand for the product will have a direct impact on the businesses of large scale enterprises as well as SMEs across the world.
Increasing Number of Company Mergers Will Emerge in Favor of Market GrowthThe report encompasses several factors that have contributed to the growth of the overall market in recent years. Among all factors, the increasing number of company mergers and acquisitions has made the highest impact on market growth. The massive investment put in by major companies for the development of efficient products will bode well for the growth of the market in the coming years. In April 2019, Eastman Chemical announced that it has completed the acquisition of Marlotherm. The company possesses an attractive range of heat transfer fluids and intellectual property. The company also possesses proper formulations and a wider consumer base, in addition to the aforementioned factors. Through this acquisition, the company will look to expand its heat transfer fluids across the world. Eastman’s acquisition of Marlotherm will not just benefit the company but will have a direct impact on the growth of the overall market in the coming years.
North America to Emerge Dominant; Presence of Several Large Scale Companies to Aid GrowthThe report analyzes ongoing market trends across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America is projected to emerge dominant in the coming years. The stringent regulations surrounding the overall carbon emissions will lead to a wider adoption of heat transfer fluids across this region. Moreover, the high investment in product innovations will bode well for market growth. The market in North America will derive substantial growth from the presence of several large scale manufacturers in this region. As of 2019, the market in 2018 was worth USD 834.52 million and this value is projected to increase further in the coming years.
Browse Detailed Summary of Research Report with TOC:https://www.fortunebusinessinsights.com/industry-reports/heat-transfer-fluids-market-101205
Detailed Table of Content:IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesKey InsightsKey Emerging Trends – For Major CountriesKey Developments: Mergers, Acquisition, Partnership, etc.Latest Technological AdvancementInsights on Regulatory ScenarioPorters Five Forces AnalysisGlobal Heat Transfer Fluids Market Analysis, Insights and Forecast, 2016-2027Key Findings / SummaryMarket Analysis, Insights and Forecast – By TypeSilicon FluidsAromatic FluidsMineral OilsGlycol Based FluidsOthersMarket Analysis, Insights and Forecast – By ApplicationOil & gasChemicalConcentrated Solar PowerFood & BeveragesPlasticsPharmaceuticalHVACOthersMarket Analysis, Insights and Forecast – By RegionNorth AmericaEuropeAsia pacificLatin AmericaMiddle East & AfricaTOC Continued…!
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Have a Look at Related Research Insights:Refrigerant Market Size, Share & Industry Analysis, By Type (Fluorocarbons, Hydrocarbons, Inorganic refrigerants, Others), By Application (Domestic, Industrial, Commercial, Air conditioning, Chillers, Variable refrigerant flow, Mobile air conditioning, Others) and Regional Forecast, 2019-2026Technical Fluids Market Size, Share & Industry Analysis, By Type (Dielectric, Heat Transfer, Drilling, Metal working, Other), By Application (Petroleum & Natural Gas, Plastic & Polymer, Car & Transportation, Others) and Regional Forecast 2020-2027
About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.308, Supreme Headquarters,Survey No. 36, Baner,Pune-Bangalore Highway,Pune – 411045, Maharashtra, India.Phone:US: +1 424 253 0390UK: +44 2071 939123APAC: +91 744 740 1245Email: sales@fortunebusinessinsights.comFortune Business Insights™LinkedIn | Twitter | Blogs
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