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Next-Generation Fluid Formulations to Advance Global Heat Transfer Fluids Market Toward $10 Billion by 2025

Manufacturers should adopt regulatory-compliant and environmentally sustainable product portfolios to harness lucrative growth prospects in an evolving ecosystem, finds Frost & SullivanSANTA CLARA, Calif., Nov. 5, 2019 /CNW/ --A Frost & Sullivan's latest research, Analysis of the Global Heat Transfer Fluids Market, Forecast to 2025,A reveals that the global heat transfer fluids market is expected to advance at a moderate to high rate during the forecast period due to the exponential development of larger end-use industries. Heightened growth of the concentrated solar power (CSP) sector, coupled with increased adoption of higher-end heat transfer fluids, will augment growth prospects and propel profitable revenues through 2025. To harness lucrative opportunities, manufacturers should adopt environmentally sustainable and regulatory-compliant product portfolios. Frost & Sullivan expects the global heat transfer fluids market to reach $10.53 billion by 2025."Increased development and commercialization of more environmentally sustainable and durable heat transfer fluid formulations using higher-priced chemistries such as silicones and aromatics is expected to contribute significantly to the overall revenue growth of the market and ignite fresh prospects," said Christeena Thomas, Industry Analyst, Chemicals, Materials & Nutrition, Frost & Sullivan. For further information on this analysis, please click here: https://frost.ly/3vdFrom a regional perspective, Asia-Pacific, including India, is the largest market for heat transfer fluids with high growth anticipated in China, India, and Southeast Asia for both first fill and refill markets. Growth in these regions is fueled by changing market dynamics and significant end-industry development. North America is another high-growth region with an uptick in demand anticipated from the oil & gas, chemicals, and plastics and rubber sectors. The heat transfer fluids market in Europe, however, is slowing down due to more established and standardized practices.
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