TMR_Research_Reports_2017 Heat Transfer Oil Market - Global Industry 2025 | Page 2

Report Description
Heat transfer oil is stable paraffinic oil with high boiling point. It is used in closed as well as open heat transfer systems.
Demand for heat transfer oil is high in industrial applications and household equipment, including chemical plants, textile
producers, process industry, and oil filled radiators, as it offers properties such as good thermal stability, low viscosity,
good heat transfer, ease of waste oil disposal, and high flash point. Heat transfer oil is also used to prevent rusting in
circulating oil systems. Its exceptional stability helps prevent deposit formation inside piping and guarantees minimal
thermal cracking at high temperatures.
The global heat transfer oil market can be segmented based on end-use industry and region. In terms of end-use industry,
the heat transfer oil market can be divided into chemical, textile, cement, asphalt, concentrated solar power, and oil & gas.
The chemical industry is the major end-use industry of heat transfer oil. The oil is used to maintain equipment and furnace
temperature in batch processes. Heat transfer oil is primarily employed for tank heating and line tracing applications in the
asphalt industry. Heat transfer oil is used to heat columns and reboilers in the oil & gas industry for the purification of oil.
The oil is usually employed in enclosed circulated heat transfer systems in the textile industry.
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The heat transfer oil market is anticipated to expand significantly during the forecast period owing to the increase in
demand for the oil in the chemical industry. Rise in demand for heat transfer oil in concentrated solar power is estimated
to drive the market for heat transfer oil during the forecast period. Growth in the oil & gas industry is also projected to
propel the market for heat transfer oil in the near future. Demand for heat transfer oil is high in the cement market due to
its characteristics of good conductivity and low volatility. This has been boosting the heat transfer oil market.
Rapid growth in the asphalt market is also one of the key factors augmenting the heat transfer oil market. However,
volatility in raw material prices is likely to hamper market growth. Furthermore, implementation of stringent government