(PRWEB) February 26, 2013
The report “Global Heat Transfer Fluid (Thermal Fluids/High Temperature/Synthetic Heat Transfer Fluids) Market, by Product Type (Mineral Oils, Silicone & Aromatics, PAG & Glycol based Fluids, and Molten Salts), Application & Geography - Forecasts to 2017” defines and segments the global heat transfer fluids market with analysis and forecasting of the global volume and revenue for heat transfer fluids. It also identifies driving and restraining factors for the global heat transfer fluids market with analysis of trends, opportunities, burning issues, winning imperatives, and challenges.
The market is segmented, and revenues and volumes are forecast-ed on the basis of major regions such as North America, Europe, Asia-Pacific, and Rest of the World (ROW).
The key countries are covered and forecast-ed for each region. Further, the market is segmented, and revenues and volumes are forecast-ed on the basis of applications and product type as well.
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The applications of heat transfer fluids cover almost all facets of industries ranging from CSP and oil and gas to pharmaceuticals and automotive. The demand for heat transfer fluids is expected to increase significantly owing to the growing end-user industries such as chemicals, manufacturing processes, etc. They have exceptional thermal and oxidation stability and are widely used in open, vented heat transfer systems, chemical processing equipment, laminating and calendaring rolls, dies and molds in the rubber and plastics industries, die-cast zinc, and aluminum alloys.
The major drivers for this market are high growth in the CSP market, strong performance advantage offered by heat transfer fluids and increasing performance standards in the industrial sectors. New products launch, product and technological innovation, expansions and mergers & acquisitions are the fundamentals to survive in this market.
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. Europe dominates the global heat transfer fluids market, accounting for 35.0% of the global heat transfer fluids demand in 2011. Asia-Pacific is expected to be the fastest growing market in the near future owing to the rapid advancement and increasing demand from key countries such as China and India. North American heat transfer fluids market is smaller as compared to Europe in terms of revenue and volume.
The market is dominated by The Dow Chemical Company (U.S.), Solutia Inc. (U.S.), ExxonMobil Corporation (U.S.), BP (U.K.), and Shell (The Netherlands) which together accounted for 76.0% of the overall market in 2011. These market participants are especially strongest in the U.S., Europe, and Asia-Pacific markets, where they have significant market presence. The Dow Chemical Company leads the industry and accounted for 30.0% of the overall market in 2011.
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