Middle East & Africa Heat Transfer Fluids Market Size & Outlook
Middle East & Africa heat transfer fluids market, 2018-2030 (US$M)
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MEA heat transfer fluids market highlights
- The MEA heat transfer fluids market generated a revenue of USD 510.9 million in 2021.
- The market is expected to grow at a CAGR of 2.5% from 2022 to 2030.
- In terms of segment, mineral oils was the largest revenue generating product in 2021.
- Glycol (ethylene & propylene) based fluids is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Saudi Arabia is expected to register the highest CAGR from 2022 to 2030.
MEA data book summary
| Market revenue in 2021 | USD 510.9 million |
| Market revenue in 2030 | USD 639.3 million |
| Growth rate | 2.5% (CAGR from 2021 to 2030) |
| Largest segment | Mineral oils |
| Fastest growing segment | Glycol (ethylene & propylene) based fluids |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 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, MEA region accounted for 5.0% of the global heat transfer fluids market in 2021.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 7,016.0 million by 2030.
Key Regions: U.S. , UK , Japan , Brazil , South Africa
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Heat Transfer Fluids Market Scope
Heat Transfer Fluids Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa 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 35.47% in 2021. Horizon Databook has segmented the Middle East & Africa 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.
Increased shale gas production in American has hit the oil manufacturers in Middle East countries. Economic growth has become sluggish with reduced manufacturing capacities of oil producers.
Middle East countries have realized that they can no longer depend upon the oil resources alone for economic prosperity. Due to the fact, these countries are shifting towards renewable resources for energy generation such as solar power, with a target of producing 4.6 GW of energy by 2030.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa heat transfer fluids market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa heat transfer fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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MEA heat transfer fluids market size, by country, 2018-2030 (US$M)
Middle East & Africa Heat Transfer Fluids Market Outlook Share, 2021 & 2030 (US$M)
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