Global Heat Transfer Fluids Market Analysis, Development, Growth and Demand Forecast to 2021 By
P&S Market Research Reports
The global heat transfer fluids (HTFs) market was valued at an estimated $2,811.0 million in 2015, in
terms of value; and it is expected to grow at a CAGR of 6.8% during 2016-2021. The factors driving the
growth of the global market include growing chemical, petrochemical, and HVAC industries; expanding
CSP activity in North America and Europe, and relatively higher replacement rates of synthetic aromatic
HTFs. The key trend witnessed in the global market is the continuous effort to enhance the performance
of HTFs. Although the HTF market is a mature industry with well-proven technology, it is evolving in
order to meet the ever-changing demands of industrial processes and the environments in which they
have to work. HTF manufacturing companies have introduced new variations that make them extremely
efficient and long lasting. These variations are in form of additives that help to enhance one or more
specific properties of HTFs, such as enhanced operating temperature range, less degradation on higher
temperatures, fouling resistance, and corrosion resistance.
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Among the various HTF types, the aromatics & silicone segment is estimated to hold the largest share in
the global HTFs market in terms of value in 2015; and it is also anticipated to witness the highest growth
at 7.6% CAGR during the forecast period. Based on end-user, the oil & gas industry (the largest end-user
segment in the global market) was estimated to consume 131.4 kilotons of HTFs in 2015. The HTFs
consumption in the oil & gas industry is anticipated to reach 181.5 kilotons by 2021, growing at a CAGR
of 5.5% during 2016 – 2021.
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