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.
Contact Us:
Polaris Market Research
Phone: 1–646–568–9980
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