Global Heat Transfer Fluids Market Size & Outlook

The heat transfer fluids industry worldwide is expected to reach a projected revenue of US$ 14,225.8 million by 2030. A compound annual growth rate of 3.6% is expected of the worldwide heat transfer fluids industry from 2022 to 2030.

Revenue, 2021 (US$M)
$10,311.7
Forecast, 2030 (US$M)
$14,225.8
CAGR, 2022 - 2030
3.6%
Report Coverage
Worldwide

Global heat transfer fluids market highlights

  • The global heat transfer fluids market generated a revenue of USD 10,311.7 million in 2021 and is expected to reach USD 14,225.8 million by 2030.
  • The market is expected to grow at a CAGR (2022 - 2030) of 3.6% by 2030.
  • In terms of segment, mineral oils accounted for a revenue of USD 3,763.8 million in 2021.
  • Glycol (ethylene & propylene) based fluids is the most lucrative product segment registering the fastest growth during the forecast period.
  • In terms of region, Asia Pacific was the largest revenue generating market in 2021.
  • Country-wise, Russia is expected to register the highest CAGR from 2022 to 2030.

Global data book summary

Market revenue in 2021USD 10,311.7 million
Market revenue in 2030USD 14,225.8 million
Growth rate3.6% (CAGR from 2021 to 2030)
Largest segmentMineral oils
Fastest growing segmentGlycol (ethylene & propylene) based fluids
Historical data covered2018 - 2020
Base year for estimation2021
Forecast period covered2022 - 2030
Quantitative unitsRevenue in USD million
Market segmentationSilicone, Aromatics, Mineral oils, Glycol (ethylene & propylene) based fluids, Other (including molten salts & HFPE)

Other key industry trends

  • In terms of revenue, the North America accounted for 25.8% of the global heat transfer fluids market in 2021.
  • By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
  • By country, Russia is the fastest growing regional market and is projected to reach USD 275.8 million by 2030.

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Heat Transfer Fluids Market Companies

Name Profile # Employees HQ Website

Global heat transfer fluids market outlook

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to heat transfer fluids market will help companies and investors design strategic landscapes.


mineral oils was the largest segment with a revenue share of 36.5% in 2021. Horizon Databook has segmented the Global heat transfer fluids market based on silicone, aromatics, mineral oils, glycol (ethylene & propylene) based fluids, other (including molten salts & hfpe) covering the revenue growth of each sub-segment from 2018 to 2030.


  • Global Heat Transfer Fluids Product Outlook (Revenue, USD Million, 2018-2030)
    • Silicone
      • Oil & gas
      • Chemical industry
      • CSP
      • Food & beverages
      • Plastics
      • Pharmaceuticals
      • HVAC
      • Other (including transport, biodiesel, waste heat recovery etc)
    • Aromatics
      • Oil & gas
      • Chemical industry
      • CSP
      • Food & beverages
      • Plastics
      • Pharmaceuticals
      • HVAC
      • Other (including transport, biodiesel, waste heat recovery etc)
    • Mineral oils
    • Glycol (ethylene & propylene) based fluids
    • Other (including molten salts & HFPE)
  • Global Heat Transfer Fluids Application Outlook (Revenue, USD Million, 2018-2030)
    • Oil & gas
    • Chemical industry
    • CSP
    • Food & beverages
    • Plastics
    • Pharmaceuticals
    • HVAC
    • Other

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Target buyers of Global heat transfer fluids market databook

  • Our clientele includes a mix of heat transfer fluids market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global heat transfer fluids market , including forecasts for subscribers. This global databook contains high-level insights into Global heat transfer fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Global heat transfer fluids market statistics, by regions, 2018-2030 (US$M)

Top 10 countries: Heat transfer fluids market size, 2021 (USD Million)

Top 10 countries: Heat transfer fluids market size, 2021 (USD Million)

Global heat transfer fluids market, by region, 2021 (US$M)

Global heat transfer fluids market statistics, by regions, 2018-2030 (US$M)

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