Market Research

Heat Transfer Fluids Market Size, Share & Trends Analysis Report By Product (Silicone Fluids, Aromatic Fluids, Mineral Oils), By Application (Oil & Gas, Chemical Industry, CSP, Food & Beverages), By Region, And Segment Forecasts, 2023 - 2030

Best Price Guarantee Length Publisher Published Date SKU
from $5,950 115 Pages Grand View Research March, 2023 GV17991764
Best Price Guarantee
Price from $5,950
Length 115 Pages
Publisher Grand View Research
Published Date March, 2023
SKU GV17991764

Heat Transfer Fluids Market Size, Share & Trends Analysis Report By Product (Silicone Fluids, Aromatic Fluids, Mineral Oils), By Application (Oil & Gas, Chemical Industry, CSP, Food & Beverages), By Region, And Segment Forecasts, 2023 - 2030


Heat Transfer Fluids Market Growth & Trends


The global heat transfer fluids market size is projected to reach USD 14.2 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 3.2% during the forecast period. The growing demand from the manufacturing and energy sectors is expected to drive the global market. Thermal oils are typically formulated from petrochemicals and mineral oils, which eventually harm the environment in terms of recyclability, biodegradability, and aqueous toxicity. Due to multiple strict regulations laid down by governments across the globe, the growth of heat transfer fluids (HTFs) has taken a hit.

Major innovators in the field are trying to bring imminent changes in the production process, such as the usage of bio-based products, increased extraction efficiency, and enhanced solvent recovery. The COVID-19 pandemic caused serious disruption in businesses and supply chains. The decrease in supply and demand for oil & gas, especially in North America and Europe, halted the onshore and offshore production processes, impacting the market growth. Food-grade HTFs are widely used for storage and refrigeration applications. With rising precision in temperature control in the processing of food and beverages, thermal fluid systems are gaining acceptance in upcoming food processing plants and facilities.

These products are highly preferred due to lower maintenance costs and low-pressure requirements in the processing facility. Asia Pacific is estimated to be the fastest-growing regional market from 2023 to 2030 due to the rising demand from China and Japan. Rapid industrialization and the development of new machinery have increased the importance of HTFs. Investments in renewable energy initiatives, such as CSP, are expected to have a positive impact on industry growth. For example, in January 2022, China announced to start and complete 11 CSP projects by 2024.

Heat Transfer Fluids Market Report Highlights

  • Silicone-based products are anticipated to exhibit a CAGR of 4.0% from 2023 to 2030 owing to the rising application scope in the oil & gas and chemical manufacturing sectors
  • The consumption of HTFs in pharmaceuticals accounted for a significant market share in 2022 due to its application in extraction and crystallization processes
  • The demand for monoethyl-based glycols in HVAC applications is expected to exhibit a considerable CAGR from 2023 to 2030 owing to their compatibility across wide temperature ranges
  • Asia Pacific dominated the market, in terms of revenue, in 2022 due to the high demand from emerging countries, such as India, Indonesia, and Thailand
  • The Central & South America market is expected to register a steady CAGR from 2023 to 2030 owing to changing political dynamics
  • Moreover, rising automobile production in the region is expected to drive the product demand
Please note The report will be delivered in 3-8 business days upon order notification.


Chapter 1 Methodology & Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research scope and assumptions
1.6.2 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Summary
2.2 Segmental Outlook
2.3 Competitive Insights
Chapter 3 Heat Transfer Fluids: Market Variables & Trends Analysis
3.1 Market Lineage Outlook
3.1.1 Outlook On the Global Synthetic Lubricants Market
3.1.2 Outlook On Heat Transfer Fluids Market
3.2 Industry Value Chain Analysis
3.2.1 Raw Material Trends
3.2.1.1 Crude Oil
3.2.1.2 Mineral Oils
3.2.1.3 Benzene, Toluene, Xylene
3.2.1.4 Diphenyl Oxide, Biphenyl, Terephenyl
3.2.2 Manufacturing/Technology Overview
3.2.2.1 Heat Transfer Fluids For Alternative Energy Technologies
3.2.3 Sales Channel Analysis
3.3 Profit Margin Analysis
3.4 Regulatory Framework
3.4.1 Safety
3.5 Covid-19 Impact Analysis
3.6 Market Dynamics
3.6.1 Market Drivers
3.6.1.1 Growing Concentrated Solar Power Industry Globally
3.6.1.2 FDA Approval Of Food-Grade Heat Transfer Fluids
3.6.1.3 Growing Natural Gas Production In GCC Countries
3.6.2 Market Restraint
3.6.2.1 Stringent Government Regulations
3.6.3 Industry Challenges
3.7 Business Environment Analysis
3.7.1 Porter’s Analysis
3.7.2 Macro-Economic Analysis
Chapter 4 Heat Transfer Fluids Market: Product Type Estimates & Trend Analysis
4.1 Product Type Market Introduction
4.2 Heat Transfer Fluids Market Estimates & Forecast, By Product
4.2.1 Silicones
4.2.2 Aromatics
4.2.3 Mineral Oils
4.2.4 Glycol-Based Fluids
4.2.5 Other Products
Chapter 5 Heat Transfer Fluids Market: Application Estimates & Trend Analysis
5.1 Application Market Introduction
5.2 Heat Transfer Fluids Market Estimates & Forecast, By Application
5.2.1 Oil & Gas
5.2.2 Concentrated Solar Power Generation
5.2.3 Chemical
5.2.4 Food & Beverages
5.2.5 Plastics
5.2.6 Pharmaceuticals
5.2.7 Hvac
5.2.8 Other APPLICATIONS
Chapter 6 Heat Transfer Fluids Market: Regional Estimates & Trend Analysis
6.1 Regional Market Snapshot
6.2 Heat Transfer Fluids Market Estimates & Forecast, By Region
6.2.1 North America
6.2.1.1 North America Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.1.2 North America Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.1.3 North America Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.1.4 North America Silicone Fluids Market Volume & Revenue, By Application
6.2.1.5 North America Aromatic Fluids Market Volume & Revenue, By Application
6.2.1.6 U.S.
6.2.1.6.1 U.S. Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.1.6.2 U.S. Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.1.6.3 U.S. Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.1.6.4 U.S. Silicone Fluids Market Volume & Revenue, By Application
6.2.1.6.5 U.S. Aromatic Fluids Market Volume & Revenue, By Application
6.2.1.7 Canada
6.2.1.7.1 Canada Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.1.7.2 Canada Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.1.7.3 Canada Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.1.7.4 Canada Silicone Fluids Market Volume & Revenue, By Application
6.2.1.7.5 Canada Aromatic Fluids Market Volume & Revenue, By Application
6.2.1.8 Mexico
6.2.1.8.1 Mexico Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.1.8.2 Mexico Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.1.8.3 Mexico Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.1.8.4 Mexico Silicone Fluids Market Volume & Revenue, By Application
6.2.1.8.5 Mexico Aromatic Fluids Market Volume & Revenue, By Application
6.2.2 Europe
6.2.2.1 Europe Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.2.2 Europe Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.2.3 Europe Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.2.4 Europe Silicone Fluids Market Volume & Revenue, By Application
6.2.2.5 Europe Aromatic Fluids Market Volume & Revenue, By Application
6.2.2.6 Germany
6.2.2.6.1 Germany Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.2.6.2 Germany Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.2.6.3 Germany Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.2.6.4 Germany Silicone Fluids Market Volume & Revenue, By Application
6.2.2.6.5 Germany Aromatic Fluids Market Volume & Revenue, By Application
6.2.2.7 UK
6.2.2.7.1 UK Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.2.7.2 UK Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.2.7.3 UK Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.2.7.4 UK Silicone Fluids Market Volume & Revenue, By Application
6.2.2.7.5 UK Aromatic Fluids Market Volume & Revenue, By Application
6.2.2.8 Russia
6.2.2.8.1 Russia Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.2.8.2 Russia Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.2.8.3 Russia Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.2.8.4 Russia Silicone Fluids Market Volume & Revenue, By Application
6.2.2.8.5 Russia Aromatic Fluids Market Volume & Revenue, By Application
6.2.3 Asia Pacific
6.2.3.1 Asia Pacific Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.2 Asia Pacific Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.3 Asia Pacific Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.4 Asia Pacific Silicone Fluids Market Volume & Revenue, By Application
6.2.3.5 Asia Pacific Aromatic Fluids Market Volume & Revenue, By Application
6.2.3.6 China
6.2.3.6.1 China Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.6.2 China Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.6.3 China Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.6.4 China Silicone Fluids Market Volume & Revenue, By Application
6.2.3.6.5 China Aromatic Fluids Market Volume & Revenue, By Application
6.2.3.7 India
6.2.3.7.1 India Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.7.2 India Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.7.3 India Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.7.4 India Silicone Fluids Market Volume & Revenue, By Application
6.2.3.7.5 India Aromatic Fluids Market Volume & Revenue, By Application
6.2.3.8 Japan
6.2.3.8.1 Japan Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.8.2 Japan Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.8.3 Japan Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.8.4 Japan Silicone Fluids Market Volume & Revenue, By Application
6.2.3.8.5 Japan Aromatic Fluids Market Volume & Revenue, By Application
6.2.3.9 South Korea
6.2.3.9.1 South Korea Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.9.2 South Korea Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.9.3 South Korea Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.9.4 South Korea Silicone Fluids Market Volume & Revenue, By Application
6.2.3.9.5 South Korea Aromatic Fluids Market Volume & Revenue, By Application
6.2.3.10 Thailand
6.2.3.10.1 Thailand Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.10.2 Thailand Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.10.3 Thailand Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.10.4 Thailand Silicone Fluids Market Volume & Revenue, By Application
6.2.3.10.5 Thailand Aromatic Fluids Market Volume & Revenue, By Application
6.2.3.11 Malaysia
6.2.3.11.1 Malaysia Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.11.2 Malaysia Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.11.3 Malaysia Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.11.4 Malaysia Silicone Fluids Market Volume & Revenue, By Application
6.2.3.11.5 Malaysia Aromatic Fluids Market Volume & Revenue, By Application
6.2.3.12 Australia
6.2.3.12.1 Australia Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.3.12.2 Australia Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.3.12.3 Australia Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.3.12.4 Australia Silicone Fluids Market Volume & Revenue, By Application
6.2.3.12.5 Australia Aromatic Fluids Market Volume & Revenue, By Application
6.2.4 Central & South America
6.2.4.1 Central & South America Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.4.2 Central & South America Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.4.3 Central & South America Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.4.4 Central & South America Silicone Fluids Market Volume & Revenue, By Application
6.2.4.5 Central & South America Aromatic Fluids Market Volume & Revenue, By Application
6.2.4.6 Brazil
6.2.4.6.1 Brazil Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.4.6.2 Brazil Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.4.6.3 Brazil Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.4.6.4 Brazil Silicone Fluids Market Volume & Revenue, By Application
6.2.4.6.5 Brazil Aromatic Fluids Market Volume & Revenue, By Application
6.2.5 Middle East & Africa
6.2.5.1 Middle East & Africa Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.5.2 Middle East & Africa Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.5.3 Middle East & Africa Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.5.4 Middle East & Africa Silicone Fluids Market Volume & Revenue, By Application
6.2.5.5 Middle East & Africa Aromatic Fluids Market Volume & Revenue, By Application
6.2.5.6 Africa
6.2.5.6.1 Africa Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.5.6.2 Africa Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.5.6.3 Africa Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.5.6.4 Africa Silicone Fluids Market Volume & Revenue, By Application
6.2.5.6.5 Africa Aromatic Fluids Market Volume & Revenue, By Application
6.2.5.7 Saudi Arabia
6.2.5.7.1 Saudi Arabia Heat Transfer Fluids Market Estimates And Forecast, 2018 - 2030
6.2.5.7.2 Saudi Arabia Heat Transfer Fluids Market Volume & Revenue, By Product
6.2.5.7.3 Saudi Arabia Heat Transfer Fluids Market Volume & Revenue, By Application
6.2.5.7.4 Saudi Arabia Silicone Fluids Market Volume & Revenue, By Application
6.2.5.7.5 Saudi Arabia Aromatic Fluids Market Volume & Revenue, By Application
Chapter 7 Competitive Analysis
7.1 Recent Developments & Impact Analysis, By Key Market Participants
7.2 Company Categorization
7.3 Company Market Share Analysis, 2022
7.4 Company Heat Map Analysis
7.5 Strategy Mapping
7.6 Company Listing
7.6.1 Dynalene, Inc.
7.6.1.1 Company Overview
7.6.1.2 Financial Performance
7.6.1.3 Industries And Services Catered
7.6.1.4 Product Benchmarking
7.6.1.5 Strategic Initiatives
7.6.2 Indian Oil Corporation Ltd. (IOCL)
7.6.2.1 Company Overview
7.6.2.2 Financial Performance
7.6.2.3 Industries And Services Catered
7.6.2.4 Product Benchmarking
7.6.2.5 Strategic Initiatives
7.6.3 KOST USA, Inc.
7.6.3.1 Company Overview
7.6.3.2 Financial Performance
7.6.3.3 Industries And Services Catered
7.6.3.4 Product Benchmarking
7.6.3.5 Strategic Initiatives
7.6.4 Hindustan Petroleum Corporation Ltd. (HPCL)
7.6.4.1 Company Overview
7.6.4.2 Financial Performance
7.6.4.3 Industries And Services Catered
7.6.4.4 Product Benchmarking
7.6.4.5 Strategic Initiatives
7.6.5 Delta Western, Inc. (DWI)
6.6.5.1 Company Overview
6.6.5.2 Financial Performance
6.6.5.3 Industries And Services Catered
6.6.5.4 Product Benchmarking
6.6.5.5 Strategic Initiatives
7.6.6 British Petroleum (BP)
7.6.6.1 Company Overview
7.6.6.2 Financial Performance
7.6.6.3 Industries And Services Catered
7.6.6.4 Product Benchmarking
7.6.6.5 Strategic Initiatives
7.6.7 Huntsman Corporation
7.6.7.1 Company Overview
7.6.7.2 Financial Performance
7.6.7.3 Industries And Services Catered
7.6.7.4 Product Benchmarking
7.6.7.5 Strategic Initiatives
7.6.8 Royal Dutch Shell Plc
7.6.8.1 Company Overview
7.6.8.2 Financial Performance
7.6.8.3 Industries And Services Catered
7.6.8.4 Product Benchmarking
7.6.8.5 Strategic Initiatives
7.6.9 Eastman Chemical Company
7.6.9.1 Company Overview
7.6.9.2 Financial Performance
7.6.9.3 Industries And Services Catered
7.6.9.4 Product Benchmarking
7.6.9.5 Strategic Initiatives
7.6.10 Phillips 66
7.6.10.1 Company Overview
7.6.10.2 Financial Performance
7.6.10.3 Industries And Services Catered
7.6.10.4 Product Benchmarking
7.6.11 Chevron Co.
7.6.11.1 Company Overview
7.6.11.2 Financial Performance
7.6.11.3 Industries And Services Catered
7.6.11.4 Product Benchmarking
7.6.12 BASF SE
7.6.12.1 Company Overview
7.6.12.2 Financial Performance
7.6.12.3 Industries And Services Catered
7.6.12.4 Product Benchmarking
7.6.13 Exxon Mobil
7.6.13.1 Company Overview
7.6.13.2 Financial Performance
7.6.13.3 Industries And Services Catered
7.6.13.4 Product Benchmarking
7.6.14 DowDuPont Chemicals
7.6.14.1 Company Overview
7.6.14.2 Financial Performance
7.6.14.3 Industries And Services Catered
7.6.14.4 Product Benchmarking
7.6.15 Dalian Richfortune Chemicals Ltd.
7.6.15.1 Company Overview
7.6.15.2 Financial Performance
7.6.15.3 Industries And Services Catered
7.6.15.4 Product Benchmarking
7.6.16 GJ Chemical
7.6.16.1 Company Overview
7.6.16.2 Financial Performance
7.6.16.3 Industries And Services Catered
7.6.16.4 Product Benchmarking
7.6.17 Radco Industries Inc.
7.6.17.1 Company Overview
7.6.17.2 Financial Performance
7.6.17.3 Industries And Services Catered
7.6.17.4 Product Benchmarking
7.6.18 LANXESS AG
7.6.18.1 Company Overview
7.6.18.2 Financial Performance
7.6.18.3 Industries And Services Catered
7.6.18.4 Product Benchmarking
7.6.19 Schultz Chemicals
7.6.19.1 Company Overview
7.6.19.2 Financial Performance
7.6.19.3 Industries And Services Catered
7.6.19.4 Product Benchmarking
7.6.20 Sasol Limited
7.6.20.1 Company Overview
7.6.20.2 Financial Performance
7.6.20.3 Industries And Services Catered
7.6.20.4 Product Benchmarking
7.6.21 Evermore Trading Corporation
7.6.21.1 Company Overview
7.6.21.2 Financial Performance
7.6.21.3 Industries And Services Catered
7.6.21.4 Product Benchmarking
7.6.22 Tashkent Industrial Oil Corporation
7.6.22.1 Company Overview
7.6.22.2 Financial Performance
7.6.22.3 Industries And Services Catered
7.6.22.4 Product Benchmarking
7.6.23 Shaeffer Manufacturing Co.
7.6.23.1 Company Overview
7.6.23.2 Financial Performance
7.6.23.3 Industries And Services Catered
7.6.23.4 Product Benchmarking
7.6.24 Paras Lubricants Limited
7.6.24.1 Company Overview
7.6.24.2 Financial Performance
7.6.24.3 Industries And Services Catered
7.6.24.4 Product Benchmarking

$5,950
$6,950
$8,950

Research Assistance

US: 800.298.5699
Int'l: +1.240.747.3093
Live help
Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Other tasks

Cookie Settings