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Europe Heat Transfer Fluid Market Volume to Witness Excellent Growth $1.4 Bn by 2026

Author : Ronak Bora | Published Date : 2021-09-03 

Europe heat transfer fluid market is growing at a steady rate since the past few years. This is because of the strong progress of industries like oil & gas, plastic, rubber and many others. Heat transfer fluids act as a medium for various processes like heating, cooling, storing and transporting energy. They are used in solar water heating systems as well that go to the solar collector and absorb the required heat from there. They transfer this heat to the stored water which can then be used for several purposes.

Various types of oil and synthetic heat transfer fluids are commonly used in high temperature areas as these liquids have low vapor pressure, which means that they do not evaporate easily. Fluids that have a high boiling point are used as well because they have excellent capacity to store large amounts of heat.

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The trends that will drive Europe heat transfer fluid market are expounded below:

Glycol-based heat transfer fluids used in HVAC systems:

Silicone, glycol, aromatics and mineral oils are some of the popular heat transfer fluids used in a wide variety of industries. Glycol-based heat transfer fluids will gain momentum in demand among end-user industries in the coming years. Europe heat transfer fluid market share from glycol segment will register 7.5% CAGR through 2026. It is an organic alcohol that is popularly used in the production of polymer fibers and acts as a cooling agent in different heat transfer applications.

Ethylene and propylene glycol have important features like anti-freezing characteristics, low heat transfer and high viscosity. These aspects make them the most popular choice as heat transfer agents in the HVAC systems. There are many companies that use glycol instead of water in their products as a heat transfer agent. This is because glycol has a greater temperature range as compared to that of water. The Europe heat transfer fluid market demand for air conditioning systems has increased by many folds in Europe across commercial and residential sectors, raising the demand for glycol.

Potential across Concentrated Solar Power (CSP) systems:

Regional market share from Concentrated Solar Power (CSP) system segment achieved an overall valuation of nearly $250 million in 2019 alone and is expected to further grow in the future as well. CSP systems generate heat and electricity by concentrating the sunlight with the help of mirrors or troughs. CSP systems use different types of heat transfer liquids like glycerol, glycol, water, air and many other synthetic fuels for their functioning.

Silicone and aromatic heat transfer fluids see increased demand:

Silicone and aromatic heat transfer fluids segment will showcase 3% CAGR in Europe through 2026 because they have excellent features that make them quite popular among end-users. Fluids containing silicone have beneficial characteristics like low temperature resistance, resistance to high heat and low specific heat, which means that it does not consume much energy to heat or cool. Aromatic or synthetic fluids, on the other hand, are heat transfer fuels that have high thermal stability and are widely used in chemical, pharmaceutical, plastics and rubber industries.

Oil & gas industry consumes heat transfer fluids:

Heat transfer fluids play an important role in oil & gas industry as they can be used in various exploration activities like crude oil extraction, refining and transportation. These fuels are even used in distillation facilities, glycol regeneration, oil pipelines, heating facilities and pumping stations.

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Europe heat transfer fluid market are gaining importance among many end-user industries for their ability to transfer large amounts of energy without much effort. Even as these fuels face a downward trend in their demand in the oil & gas industry, they can still come in handy in the renewable energy sector. This is because of the rise in use of heat transfer fluids in solar heating systems.

The companies that are involved in the production of heat transfer liquids are Huntsman Corporation, Royal Dutch Shell Plc, Eastman Chemical Company, Exxon Mobil and many others.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Market definitions

1.2    Market assumptions & forecast parameters

1.3    Appendix

1.4    Data Sources

1.4.1    Primary

1.4.2    Secondary

Chapter 2   Executive Summary

2.1    Europe Heat Transfer Fluid market summary, 2015 - 2026

2.1.1    Business trends

2.1.2    Product trends

2.1.3    Application trends

2.1.4 Country trends

Chapter 3   Europe Heat Transfer Fluid Industry Insights

3.1    Industry segmentation

3.2    Industry outlook, 2015 - 2026

3.3    Value Chain

3.4    Regulatory overview

3.5    Market factor analysis

3.5.1    Growth drivers

3.5.2    Growth restraints

3.6    Competition review

3.7    Porter’s analysis

3.8    PESTEL analysis

3.9    Impact of COVID-19 on heat transfer fluid demand by application

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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