DUBLIN, August 16, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global Heat Transfer Fluids Market 2016-2020" report to their offering.
The global heat transfer fluids market to grow at a CAGR of 5.81% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the global heat transfer fluids market for 2016-2020. To calculate the market size, the analyst considers the revenue generated through sales of heat transfer fluids for end-user industries such as oil and gas, chemical industry, CSP, food and beverages, and plastic. The report also includes a discussion of the key vendors operating in this market.
One of the key trends for market growth will be increasing investments in CSP. In the growing market for sustainable energy, CSP technologies are on the threshold of large-scale global positioning. These technologies promote concentrated sunlight to generate electricity. In the next 3-4 years, the CSP market is estimated to be worth over $1.2 billion. The Indian government also has recognized solar power as a vital renewable energy resource. Under the National Action Plan for Climate Change, the National Solar Mission is one of the eight missions to fight climate change.
According to the report, development of chemical industry in China and India will be a key driver for market growth. The chemical industry is one of the major end-user segments for the global heat transfer fluid market. So, development of this segment will boost the market for heat transfer fluids. The chemical industry contributes considerably toward the industrial and economic growth of key developing economies like China and India. This industry is important to the manufacturing and agricultural sectors of these countries and provides building blocks for many downstream industries, such as paper, textiles, leather, and paints.
Further, the report states that the emergence of substitutes for heat transfer fluids will be a major challenge for the market. Bio-based glycol is increasingly being used as the key constituent in heat transfer fluids. It has identical chemical formula as propylene glycol, but its structure is a little different owing to the fermentation process used to manufacture it. This minor structural alteration gives it improved thermal stability and a longer life for high-heat applications such as geothermal and solar process heating. Also, bio-based glycol exhibits more advantageous properties such as lower viscosity at low temperatures compared with propylene glycol. This can enhance pumping and energy proficiencies in uses related to cooling, and minimize maintenance costs.
- Dow Chemical
- British Petroleum
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by end-user
Part 07: Market segmentation by products
Part 08: Market segmentation by geography
Part 09: Market drivers
Part 10: Impact of drivers
Part 11: Market challenges
Part 12: Impact of drivers and challenges
Part 13: Market trends
Part 14: Vendor landscape
Part 15: Key vendor analysis
Part 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/tm9rxm/global_heat
Related Topics: Engineering
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