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Thermal Fluid/Heat Transfer Fluid Market is growing at an estimated CAGR of 7.4% & to reach $2.5 Billion by 2017 - by MarketsandMarkets
Date:1/26/2013

oxidation stability and are widely used in open, vented heat transfer systems, chemical processing equipment, laminating and calendaring rolls, dies and molds in the rubber and plastics industries, die-cast zinc, and aluminum alloys.

The major drivers for this market are high growth in the CSP market, strong performance advantage offered by heat transfer fluids and increasing performance standards in the industrial sectors. New products launch, product and technological innovation, expansions and mergers & acquisitions are the fundamentals to survive in this market.

The global market for heat transfer fluids in terms of revenue was estimated to be worth $1,684.0 million in 2011 and is expected to reach $2,557.2 million by 2017, growing at a CAGR of 7.4% from 2012 to 2017. Europe dominates the global heat transfer fluids market, accounting for 35.0% of the global heat transfer fluids demand in 2011. Asia-Pacific is expected to be the fastest growing market in the near future owing to the rapid advancement and increasing demand from key countries such as China and India. North American heat transfer fluids market is smaller as compared to Europe in terms of revenue and volume.

The market is dominated by The Dow Chemical Company (U.S.), Solutia Inc. (U.S.), Exxon-Mobil Corporation (U.S.), BP (U.K.), and Shell (The Netherlands) which together accounted for 76.0% of the overall market in 2011. These market participants are especially strongest in the U.S., Europe, and Asia-Pacific markets, where they have significant market presence. The Dow Chemical Company leads the industry and accounted for 30.0% of the overall market in 2011.

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