South Korea Heat Transfer Fluids Market Size & Outlook
South Korea heat transfer fluids market, 2018-2030 (US$M)
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South Korea heat transfer fluids market highlights
- The South Korea heat transfer fluids market generated a revenue of USD 301.7 million in 2021 and is expected to reach USD 425.9 million by 2030.
- The South Korea market is expected to grow at a CAGR of 3.9% 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.
Heat transfer fluids market data book summary
| Market revenue in 2021 | USD 301.7 million |
| Market revenue in 2030 | USD 425.9 million |
| Growth rate | 3.9% (CAGR from 2021 to 2030) |
| Largest segment | Mineral oils |
| Fastest growing segment | Glycol (ethylene & propylene) based fluids |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 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, South Korea accounted for 2.9% of the global heat transfer fluids market in 2021.
- 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 |
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South Korea 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 34.11% in 2021. Horizon Databook has segmented the South Korea 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.
Being one of the major oil and gas importer, South Korea imports close to 98% oil and gas to meet its requirements because of insufficient domestic resources.
The oil demand of South Korea increased substantially because of decrease of oil prices in the transportation sector, higher heavy fuel oil consumption in the power sector, greater use of naphtha as well as LPG in the petrochemical sector.
This has eventually expected to increase the demand of heat transfer fluid in South Korea. In chemical industries the heat transfer fluid is used as coolant in various chemical processes.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea heat transfer fluids market , including forecasts for subscribers. This country databook contains high-level insights into South Korea heat transfer fluids market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea heat transfer fluids market size, by product, 2018-2030 (US$M)
South Korea Heat Transfer Fluids Market Outlook Share, 2021 & 2030 (US$M)
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