Heat Transfer Fluids Market Size, Share & Trends Report

Heat Transfer Fluids Market Size, Share & Trends Analysis Report By Product (Silicone Fluids, Aromatic Fluids), By Application (Oil & Gas, Chemical Industry), By Region, And Segment Forecasts, 2024 - 2030

Report ID: 978-1-68038-511-3
Number of Pages: 115
Format: Electronic (PDF)

Historical Range: 2018 - 2023
Industry: Bulk Chemicals

Market Segmentation

Heat Transfer Fluids Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
- Silicone Fluids
  - Oil & Gas
  - Chemical Industry
  - CSP
  - Food & Beverages
  - Plastics
  - Pharmaceuticals
  - HVAC
  - Others
- Aromatic Fluids
  - Oil & Gas
  - Chemical Industry
  - CSP
  - Food & Beverages
  - Plastics
  - Pharmaceuticals
  - HVAC
  - Others
- Mineral Oils
- Glycol Based Fluids
- Other (Including Molten Salts & HFPE)
Heat Transfer Fluids Application Outlook (Volume, Kilotons; Revenue, Usd Million, 2018 - 2030)
- Oil & Gas
- Chemical Industry
- CSP
- Food & Beverages
- Plastics
- Pharmaceuticals
- HVAC
- Others
Heat Transfer Fluid Regional Outlook (Volume, Kilotons; Revenue, Usd Million, 2018 - 2030)
- North America
  - North America Heat Transfer Fluids Market, By Product
    - Silicone Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Aromatic Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Mineral Oils
    - Glycol Based Fluids
    - Other (Including Molten Salts & HFPE)
  - North America Heat Transfer Fluids Market, By Application
    - Oil & Gas
    - Chemical Industry
    - CSP
    - Food & Beverages
    - Plastics
    - Pharmaceuticals
    - HVAC
    - Others North America Heat Transfer Fluids Market, By Grade
  - U.S.
    - U.S. Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - U.S. Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Canada
    - Canada Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Canada Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Mexico
    - Mexico Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Mexico Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
- Europe
  - Europe Heat Transfer Fluids Market, By Product
    - Silicone Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Aromatic Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Mineral Oils
    - Glycol Based Fluids
    - Other (Including Molten Salts & HFPE)
  - Europe Heat Transfer Fluids Market, By Application
    - Oil & Gas
    - Chemical Industry
    - CSP
    - Food & Beverages
    - Plastics
    - Pharmaceuticals
    - HVAC
    - Others North America Heat Transfer Fluids Market, By Grade
  - Germany
    - Germany Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Germany Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - U.K.
    - U.K. Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - U.K. Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - France
    - France Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - France Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Italy
    - Italy Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Italy Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Spain
    - Spain Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Spain Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Russia
    - Russia Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Russia Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
- Asia Pacific
  - Asia Pacific Heat Transfer Fluids Market, By Product
    - Silicone Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Aromatic Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Mineral Oils
    - Glycol Based Fluids
    - Other (Including Molten Salts & HFPE)
  - Asia Pacific Heat Transfer Fluids Market, By Application
    - Oil & Gas
    - Chemical Industry
    - CSP
    - Food & Beverages
    - Plastics
    - Pharmaceuticals
    - HVAC
    - Others North America Heat Transfer Fluids Market, By Grade
  - China
    - China Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - China Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Japan
    - Japan Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Japan Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - India
    - India Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - India Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - South Korea
    - South Korea Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - South Korea Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Malaysia
    - Malaysia Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Malaysia Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Thailand
    - Thailand Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Thailand Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Australia
    - Australia Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Australia Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
- Central & South America
  - Central & South America Heat Transfer Fluids Market, By Product
    - Silicone Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Aromatic Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Mineral Oils
    - Glycol Based Fluids
    - Other (Including Molten Salts & HFPE)
  - Central & South America Heat Transfer Fluids Market, By Application
    - Oil & Gas
    - Chemical Industry
    - CSP
    - Food & Beverages
    - Plastics
    - Pharmaceuticals
    - HVAC
    - Others North America Heat Transfer Fluids Market, By Grade
  - Brazil
    - Brazil Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Brazil Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - Argentina
    - Argentina Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Argentina Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
- Middle East & Africa
  - Middle East & Africa Heat Transfer Fluids Market, By Product
    - Silicone Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Aromatic Fluids
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others
    - Mineral Oils
    - Glycol Based Fluids
    - Other (Including Molten Salts & HFPE)
  - Middle East & Africa Heat Transfer Fluids Market, By Application
    - Oil & Gas
    - Chemical Industry
    - CSP
    - Food & Beverages
    - Plastics
    - Pharmaceuticals
    - HVAC
    - Others North America Heat Transfer Fluids Market, By Grade
  - Saudi Arabia
    - Saudi Arabia Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - Saudi Arabia Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade
  - South Africa
    - South Africa Heat Transfer Fluids Market, By Product
      - Silicone Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Aromatic Fluids
        
        Oil & Gas
        
        Chemical Industry
        
        CSP
        
        Food & Beverages
        
        Plastics
        
        Pharmaceuticals
        
        HVAC
        
        Others
      - Mineral Oils
      - Glycol Based Fluids
      - Other (Including Molten Salts & HFPE)
    - South Africa Heat Transfer Fluids Market, By Application
      - Oil & Gas
      - Chemical Industry
      - CSP
      - Food & Beverages
      - Plastics
      - Pharmaceuticals
      - HVAC
      - Others North America Heat Transfer Fluids Market, By Grade

Heat Transfer Fluids Market Dynamics

Drivers: Growing Concentrated Solar Power Industry Globally

CSP systems concentrate the solar rays on a small area by using mirrors or collectors and facilitate electricity generation by converting light into heat energy using steam turbines. The global CSP industry has been witnessing significant growth over the past few years owing to technological advancements in thermal storage system, commercialization of molten salt fluid technologies, and adjustable to moderate weather conditions. It is one of the most cost-efficient sources of power generation, with reduced levels of CO2 emissions as compared to other sources. CSPs are preferred over conventional PV solar panels owing to added advantage of thermal storage with enhanced longevity.

Heat transfer fluids are identified as crucial players in improving the efficiency of concentrated solar power plants as they have a high capacity of heat storage and thereby increase the total plant's power generation capacity. Not only do HTFs have high capacity of thermal storage, but they also have an edge of storing thermal energy. This stored energy is later utilized for generating electricity after sunset or even in cloudy weather conditions. Compared to PV systems, CSP plants can add storage capacity for an extra 6 hours, leading to the operational value of USD 35.8/MWh.

FDA Approval Of Food-Grade Heat Transfer Fluids

Food and beverage processing is one of the major emerging applications of heat transfer fluids. HTFs find multiple applications in the industry, including dehumidifying, heating, and cooling applications across sectors such as wineries, dairies and breweries. The companies operational in these segments utilize HTFs, where the food articles and water come in contact with the fluids during processing. Hence, there is a high requirement for non-toxic food-grade heat transfer fluids. USDA approves the ingredients that are used in food-grade HTFs through HT1 applications and complies with FDA 178.3570 requirements.

Food-grade thermic fluids are a safe and non-hazardous option for various food and beverage processing companies. These fluids do not produce carbon in their downstream and offer low maintenance. Their wide temperature range makes them a preferred choice among many companies in the industry. Approval of these thermal fluids by FDA and international regulatory agencies is estimated to drive the demand for grade thermic oils which are more efficient than water or steam when used as a heat transfer medium.

Restraints: Stringent Government Regulations

The heat transfer fluids industry is subject to multiple government regulations across the globe at both global and regional levels. Thermal oils are typically formulated from petrochemicals and mineral oils, which affect the environment in terms of toxicity, biodegradability, recyclability, and more. One of the major issues faced is the disposal of used heat transfer fluids. Since most of the additives used in thermal fluids are petrochemical derivatives, they seriously threaten water pollution. This has led to stringent regulations being formulated by U.S. EPA. A series of tests conducted by the agency found that mineral oil-based HTOs are highly toxic, exhibit low biodegradability, and have the potential for bioaccumulation. Bioaccumulation is defined as the tendency of chemicals to build-up on organisms' tissues over time. Since most mineral oils are water insoluble, they tend to accumulate on organisms and have adverse biological effects.

What Does This Report Include?

This section will provide insights into the contents included in this heat transfer fluids market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Heat transfer fluids market qualitative analysis

Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
- Company overview
- Financial performance
- Product benchmarking
- Latest strategic developments

Heat transfer fluids market quantitative analysis

Market size, estimates, and forecast from 2018 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance

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