Heat Transfer Fluids Market Incremental Opportunity Assessment till 2030
Heat Transfer Fluids Industry Overview The global heat transfer fluids market size was estimated at USD 10.3 billion in 2021 and is anticipated to exhibit a compound annual growth rate(CAGR) of 3.6% from 2022 to 2030. The adoption of concentrated solar power globally is one of the major factors driving the demand. Heat transfer fluids are industrial products derived from petroleum sources that are used to prevent overheating and for the storage of thermal energy. The basic raw materials involved in the production are crude oil, silica, and base oils. The important characteristics that define a heat transfer fluid are low viscosity, non-corrosive nature, high thermal conductivity and diffusivity, and extreme phase transition temperatures. Gather more insights about the market drivers, restrains and growth of the Global Heat Transfer Fluids Market The COVID-19 pandemic caused serious disruption in businesses and supply chains. The negative impact of a pandemic on the oil & gas ...