China Heat Transfer Fluids Market Size & Outlook
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China heat transfer fluids market highlights
- The China heat transfer fluids market generated a revenue of USD 2,012.0 million in 2023 and is expected to reach USD 2,747.5 million by 2030.
- The China market is expected to grow at a CAGR of 4.6% from 2024 to 2030.
- In terms of segment, mineral oils was the largest revenue generating product in 2023.
- Glycol (ethylene & propylene) based fluids is the most lucrative product segment registering the fastest growth during the forecast period.
Heat transfer fluids market data book summary
| Market revenue in 2023 | USD 2,012.0 million |
| Market revenue in 2030 | USD 2,747.5 million |
| Growth rate | 4.6% (CAGR from 2024 to 2030) |
| Largest segment | Mineral oils |
| Fastest growing segment | Glycol (ethylene & propylene) based fluids |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Silicone, Aromatics, Mineral oils, Glycol (ethylene & propylene) based fluids, Other (including molten salts & HFPE) |
| Key market players worldwide | Kosmos Energy Ltd, BP PLC ADR, Huntsman Corp, Shell PLC, Eastman Chemical Co, ConocoPhillips, Chevron Corp, Basf SE, Exxon Mobil Corp, Dow Inc, Lanxess AG, Sasol Ltd |
Other key industry trends
- In terms of revenue, China accounted for 18.2% of the global heat transfer fluids market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China heat transfer fluids market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 769.0 million by 2030.
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Heat Transfer Fluids Market Scope
Heat Transfer Fluids Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| BP PLC ADR | View profile | - | - | - |
| Kosmos Energy Ltd | View profile | - | - | - |
| ConocoPhillips | View profile | 10000 | 925 North Eldridge Parkway, Houston, TX, United States, 77079 | https://www.conocophillips.com |
| Sasol Ltd | View profile | 29073 | 50 Katherine Street, Sasol Place, Sandton, Johannesburg, GT, South Africa, 2196 | https://www.sasol.com |
| Lanxess AG | View profile | 12621 | Kennedyplatz 1, Cologne, Germany, 50569 | https://www.lanxess.com |
| Shell PLC | View profile | 100000 | Shell Centre, London, United Kingdom, SE1 7NA | https://www.shell.com |
| Eastman Chemical Co | View profile | 14000 | 200 South Wilcox Drive, Kingsport, TN, United States, 37662 | https://www.eastman.com |
| Chevron Corp | View profile | 45600 | 6001 Bollinger Canyon Road, San Ramon, CA, United States, 94583-2324 | https://www.chevron.com |
| Exxon Mobil Corp | View profile | 61500 | 22777 Springwoods Village Parkway, Spring, TX, United States, 77389-1425 | https://www.exxonmobil.com |
| Huntsman Corp | View profile | 6000 | 10003 Woodloch Forest Drive, The Woodlands, TX, United States, 77380 | https://www.huntsman.com |
| Dow Inc | View profile | 35900 | 2211 H.H. Dow Way, Midland, MI, United States, 48674 | https://www.dow.com |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
China 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 39.24% in 2023. Horizon Databook has segmented the China 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.
China is the largest producer of heat and renewable power and over the past eight years and constitutes more than one-quarter of the world’s renewable power capacity combining approximately 564 GW, which includes 305 GW of hydropower.
Being accounted for 32% of all financings of renewable energy production in 2016, China is one of the most significant contributors to heat transfer fluid market across Asia pacific.
Increase of automobile industry, with increase in usage of ethylene glycol as engine coolant to reduce overheating and paint and coating industry, the market of glycol-based fluids is increasing exponentially, it acts as a significant driving factor of heat transfer fluid in China and overall Asia Pacific.
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Target buyers of China heat transfer fluids market databook
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Our clientele includes a mix of heat transfer fluids market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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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 country-level data and insights on the China heat transfer fluids market , including forecasts for subscribers. This country databook contains high-level insights into China heat transfer fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
China heat transfer fluids market size, by product, 2018-2030 (US$M)
China Heat Transfer Fluids Market Outlook Share, 2023 & 2030 (US$M)
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