North America Heat Transfer Fluids Market Size & Outlook
North America heat transfer fluids market, 2018-2030 (US$M)
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North America heat transfer fluids market highlights
- The North America heat transfer fluids market generated a revenue of USD 2,661.0 million in 2021.
- The market is expected to grow at a CAGR of 3.8% 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, U.S. is expected to register the highest CAGR from 2022 to 2030.
North America data book summary
| Market revenue in 2021 | USD 2,661.0 million |
| Market revenue in 2030 | USD 3,723.1 million |
| Growth rate | 3.8% (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, North America region accounted for 25.8% 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.
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Heat Transfer Fluids Market Scope
Heat Transfer Fluids Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 36.9% in 2021. Horizon Databook has segmented the North America 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.
Silicone based fluids are expected to gain higher market shares on account of its ability to resist chemical and physical change under severe heat, cold, shear and oxidation and other operating conditions that break down organic fluids.
These fluids are broadly utilized across multiple application scopes which include chemical. Spin & weave, food & beverages, wood processing and plastics among others. North America has shown recent developments in the field of power generation and high utilization in the region.
The demand of HTFs for concentrated solar power is high and is also recorded to be the fastest growing on account of high usage of CSP electricity across U.S., Canada and other few other countries of North America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America heat transfer fluids market , including forecasts for subscribers. This continent databook contains high-level insights into North America heat transfer fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America heat transfer fluids market size, by country, 2018-2030 (US$M)
North America Heat Transfer Fluids Market Outlook Share, 2021 & 2030 (US$M)
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