The Heat Transfer Fluids Market fluids (HTFs) is expected to grow at CAGR 9% during the forecast period 2021-2026.

Increasing awareness regarding energy conservation and growing demand for heat exchangers, heat pumps, and chillers in end-use industries, such as chemical, oil & gas, and HVACR has led to growth in the market.

Mineral oils segment is estimated to dominate the heat transfer fluids market due to their increasing demand for HTFs in chemical processing and petrochemical end-use industries. Preference over other types due to their low price is considered as the major factor particularly in APAC and Middle East & Africa regions, with the focus on usage of low-cost products is expected to fuel the growth of the segment. Whereas, Synthetic fluids is the fastest-growing segment owing to the enhanced lubricity and high thermal stability offered by them.
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5. Heat Transfer Fluids Market, By Type
Mineral Oils
Synthetic Fluids
Glycols
Others (molten salts, nano fluids, ionic fluids, and fluorinated fluids)

6. Heat Transfer Fluids Market, By End-User Industry
Chemical
Oil & gas
Food & beverage
Pharmaceutical
Renewable Energy
Automotive
HVACR
Others (electronics, aerospace, textile, machinery, and marine)
Heat Transfer Fluids Market, By Region
North America
Europe
Asia Pacific
Rest of World
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