Report ID: UCMIG35A2236
Report ID:
UCMIG35A2236 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The market size of heat transfer fluids worldwide was valued at USD 10.3 billion in 2021 and is expected to grow at a CAGR of 3.6% from 2022 to 2030. The increasing use of concentrated solar power across the globe is a significant factor driving the demand for these fluids. Heat transfer fluids are industrial products that originate from petroleum sources and are used to prevent overheating and store thermal energy. The primary raw materials used in their production include crude oil, silica, and base oils. Key characteristics that define heat transfer fluids include low viscosity, non-corrosiveness, high thermal conductivity and diffusivity, and extremely high phase transition temperatures.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Health Care Equipment by segment aggregation, the contribution of the Health Care Equipment in Health Care Equipment & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG35A2236