Heat Transfer Fluids Market Insights, Leading Players and Future Analysis

NEW YORK - July 6, 2021 - PRLog -- With the rise in concentrating solar power (CSP) activities in North America and Europe and the expansion of heating, ventilation, and air conditioning (HVAC), petrochemical, and chemical industries, the demand for heat transfer fluids is surging sharply across the world. Moreover, the high substitution rates of synthetic aromatic heat transfer fluids are creating a huge positive impact on their worldwide sales, which is, in turn, driving the advancement of the global heat transfer fluids market.

Heat transfer fluids are usually required in heat exchangers for transferring the heat produced from one place to another. According to the requirements of industries and the specifications of a heat transfer system, there are many types of heat transfer fluids sold across the world. These fluids consist of additives and one critical chemical ingredient. The additives present in these fluids help in reducing their corrosive effect or their fouling nature.

According to the estimates of P&S Intelligence (https://www.psmarketresearch.com/market-analysis/heat-tra...), a market research company based in India, the mushrooming sales of these fluids in the APAC region will be because of the boom in the manufacturing sector in regional countries such as India, Indonesia, Vietnam, Malaysia, and Thailand. As per various surveys and reports, 117.9 kilotons of heat transfer fluids were consumed in this region in 2015. Moreover, this number will rise to 179 kilotons by 2021, as per various estimates.

Hence, it is safe to say that the demand for heat transfer fluids will soar all over the world in the forthcoming years, primarily because of their ballooning requirement in various industries such as chemical, petrochemical, manufacturing, and HVAC.