Prominent factors that are playing a major part in boosting the demand for Heat Transfer Fluids Market include
growing chemical industry and oil & gas developments, rising concentrated solar power generation capacities, and
augmentation in the technological advances in product portfolios of heat transfer fluids.
Heat Transfer Fluids Market is segmented on the basis of application as Oil & Gas, Chemical Industry, Concentrated
Solar Power, Manufacturing Processes, Pharmaceuticals, Bio-Diesel Production, and Others. Among all the
applications, the segment of oil & gas is likely to register for the largest market share.
On the contrary, the chemical industry, manufacturing processes, and concentrated solar power applications are also
emerging gradually. The concentrated solar power application is anticipated to rise at the highest CAGR in the near
future, the reason being soaring demand for sustainable power resource.
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It has been noted that employment of waste heat energy form one process to another process in process industries
has also played their major role in lifting up the demand for heat transfer fluids that has in turn influenced the growth
of the heat transfer fluid market. Heat Transfer Fluids Market is segmented on the basis of region as North America,
Western Europe, Central & Eastern Europe, Asia-Pacific, Middle East & Africa, and Latin America. As far as the
geographical location is concerned, North America is currently leading the market and it is simultaneously registering
for the largest market share in the market.
As far as the geographical location is concerned, Asia-Pacific is currently leading the market and it is estimated that
the region will witness a huge growth in the near future, the reason being augmented demand for heat transfer fluids,
rising manufacturing processes industry, and emerging chemicals and concentrated solar power industries in the
countries like China and India.
In Asia Pacific, China is deemed as the largest market for heat transfer fluids. The key target audience of the Heat
Transfer Fluids Market include Manufacturers of heat transfer fluid, Traders, distributors, and heat transfer fluid
suppliers, Regional manufacturer associations and general heat transfer fluid associations, Government and regional
agencies and research organizations, and Investment research firms.
The key players operating in the Heat Transfer Fluids Market include Indian Oil Corporation Ltd., BASF SE, Chevron
Corporation, ConocoPhillips, Hindustan Petroleum Corporation Ltd., Bharat Petroleum Corporation Ltd., Huntsman
Corporation, Global Heat Transfer, ExxonMobil Corporation, and The Dow Chemical Company.
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