New York, 6
Nov 2019 : According
to a new study published by Polaris Market Research the global heat transfer fluids market is
anticipated to reach USD 4.56 billion by 2026. Rising demand for a wide range
of heat transfer fluids from an assortment of industrial sectors is expected to
drive the market over the next decade. The industrial trends of these products
show that the highest increase in demand has been from the diverse
manufacturing base globally and it tends to grow with increase in the expansion
of it.
These fluids
are eutectic mixtures that contain two stable compounds. These products
practically have identical vapor pressures, so that the mixture or composition
can be managed as a solitary compound. These types of fluids are mainly used in
those systems that employ either liquid vapor phase heating. These products are
stable and are readily not decomposable at high temperatures. These fluids are
used effectively either in vapor or liquid phase systems. Their low viscosity
that remains throughout the operating range eventually results in an efficient
transfer of heat; start-up and also problems related to pumping are minimized.
These fluids are noncorrosive to normal alloys and metals. The functional
qualities of these products are expected to boost demand over the forecast
period.
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Nanofluid
has emerged as a novel type for heat transfer medium. It contains nanoparticles
(around 1–100 nm) that are stably and uniformly distributed in the base fluid.
These nanoparticles that remain distributed, generally in a metal oxide or
metal significantly enhance the nanofluid’s thermal conductivity. It increases
the convection coefficients and conduction that allows for additional heat
transfer nanofluids to be applicable for applications such as the advanced heat
transfer fluids.
However, owing to a wide variety and complexity of these
nanofluid systems, no such agreement is yet achieved on its magnitude of the
potential benefits of applying nanofluids for the heat transfer systems
applications. Compared to the conventional suspensions of solid–liquid for
heat/thermal transfer intensifications, nanofluids with properly dispersed
nanoparticles come with several other advantages. Hence, with such advantages
and advancements in raw materials for manufacturing heat transfer fluids,
demand for these products are expected to increase further in the near future.
Asia Pacific
Heat Transfer Fluids Market is expected to account for the maximum demand for
these products in the next eight years. With increasing industrialization in
the region especially in Japan, India, Korea and even Australia demand for
these products are anticipated to grow even higher. Europe was also a potential
market in terms of consumption, but the industry has been experiencing a
sluggish growth since few years and the region is primarily dependent on import
of these products. Consumption of these products have been increasing slightly
on a yearly basis.
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Industry Trend Analysis Report” https://www.polarismarketresearch.com/industry-analysis/heat-transfer-fluids-market/inquire-before-buying
The few of
the leading industry participants currently operating in a worldwide scale
include Dalian Richfortune Chemicals, Hindustan Petroleum Corporation Ltd.,
Lytron Inc., Honeywell International, Radco Industries, Arkema, Phillips 66,
Bharat Petroleum, Indian Oil, Zhongneng Chemical and Huntsman, Dow Chemicals,
Paratherm, Schultz Chemicals, Dynalene, Inc. and Therminol.
About Polaris Market
Research
Polaris Market Research is a global market
research and consulting company. The company specializes in providing
exceptional market intelligence and in-depth business research services for our
clientele spread across different enterprises. We at Polaris are obliged to
serve our diverse customer base present across the industries of healthcare,
technology, semi-conductors and chemicals among various other industries
present around the world
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