Sweden Glycol-based Heat Transfer Fluids Market Size By Type (Propylene Glycol, Ethylene Glycol), By Application (Heating, Cooling), By End-use Industry (Food & Beverage Processing, Pharmaceutical, Chemical & Petrochemical, Automotive, HVAC), And Forecast
Sweden Glycol-based Heat Transfer Fluids Market Size By Type (Propylene Glycol, Ethylene Glycol), By Application (Heating, Cooling), By End-use Industry (Food & Beverage Processing, Pharmaceutical, Chemical & Petrochemical, Automotive, HVAC), And Forecast
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Sweden Glycol-based Heat Transfer Fluids Market Size And Forecast
Sweden Glycol-Based Heat Transfer Fluids Market size was valued at USD 1,504.54 Million in 2022 and is projected to reach USD 2,249.77 Million by 2030, growing at a CAGR of 5.21% from 2024 to 2030.
One of the primary driving factors is the need for efficient heat transfer fluids has increased across several industries, including oil and gas, chemicals, automotive, and HVAC, as a result of technological improvements. The use of glycol-based heat transfer fluids has been boosted further by manufacturing breakthroughs and improvements in heat exchanger designs. The Sweden Glycol-Based report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Sweden Glycol-based Heat Transfer Fluids Executive Summary
One of the primary driving factor is the need for efficient heat transfer fluids has increased across several industries, including oil and gas, chemicals, automotive, and HVAC, as a result of technological improvements. Due to their significant thermal stability and heat transfer capabilities, glycol-based fluids, in particular ethylene and propylene glycol have become the best alternatives for high-temperature applications. The use of glycol-based heat transfer fluids has been boosted further by manufacturing breakthroughs and improvements in heat exchanger designs.
Glycol-based heat transfer fluids are fantastic because they're super stable when it comes to heat and they transfer it really well! This makes them perfect for a lot of industrial jobs. And with industries growing, more and more folks need these fluids. So, manufacturers are stepping up, creating high-performance versions that last longer, transfer heat even better, and stay stable at high temperatures. They're really tailoring these fluids for industries like chemical production, medicines, and food processing. Plus, with the move towards renewable energy like solar and wind, the market for these fluids is booming! And get thisthere's a big push now for using bio-based glycol fluids – you know, the ones made from sustainable sources.
Hey, with everyone switching to greener energy, there's a big opening for glycol-based heat transfer fluids! Think about itgeothermal, solar thermal, and biomass are all getting more love as we look for sustainable energy. To really get the most power out of these systems and be kind to the planet, you need fluids that can really move heat efficiently. Solar thermal plants, especially, are booming! Glycol-based fluids are perfect for grabbing heat from solar collectors and turning it into steam or hot water for power or even for factories. This lets us actually use the sun's energy. And with those concentrated solar power (CSP) plants using parabolic troughs and towers popping up, the demand for these fluids just keeps growing. Plus, with biomass energy systems like biomass boilers and cogeneration plants becoming more common, the need for glycol-based fluids gets another boost. These systems use organic materials to make heat, and glycol fluids help move that heat around super efficiently, which means we get more energy overall!
However, there are several drawbacks to glycol-based heat transfer fluids. Considering both ethylene glycol and propylene glycol may be dangerous if swallowed or applied to the skin for extended periods, their toxicity poses the main concern. To reduce threats to human health, this needs cautious handling and correct disposal techniques. Sweden Glycol-Based Heat Transfer Fluids Market is segmented based on Type, Application, End-use Industry, and Region.
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Sweden Glycol-based Heat Transfer Fluids MarketSegmentation Analysis
The Sweden Glycol-based heat transfer fluids Market is segmented based on Type, Application, & End-use Industry.
Sweden Glycol-based Heat Transfer Fluids Market, By Type
To Get a Summarized Market Report By Type-
When we look at the market by Type, it breaks down into two main playersPropylene Glycol and Ethylene Glycol. Ethylene Glycol really dominated in 2022, grabbing a whopping 78.34% of the market – that's a USD 5.00 Million value! And it's expected to keep growing steadily at a CAGR of 4.85%. Now, Propylene Glycol came in second place with a value of USD 1.38 Million, but here's the interesting partit's predicted to have the highest growth rate, with a CAGR of 6.90%! EG has taken over the market thanks to its great thermal properties and relatively low toxicity, making it a super useful material in all sorts of applications. Think of power plants, for example. These fluids are really important for keeping things cool, especially in closed-loop systems where they help move heat away from crucial components like turbines and generators. This helps the whole system run more efficiently and avoids overheating.
Sweden Glycol-based Heat Transfer Fluids Market, By Application
So, when we look at how these fluids are used, it breaks down into Heating and Cooling. And get this, Cooling dominated in 2022, grabbing a huge 72.43% of the market – that’s like USD 4.62 Million! Experts think it'll keep growing at a steady 4.21% for the next few years. Now, Heating wasn't far behind, coming in as the second-biggest piece of the pie with a value of USD 1.76 Million, but here's the kickerit’s actually expected to grow the fastest, at a whopping 7.85%! Think about it – so many places need these glycol-based fluids to keep things cool or disperse heat. For instance, massive data centers, packed with computers and gadgets, generate crazy amounts of heat. That’s where these coolants come in, working hard to keep everything at the right temperature, preventing meltdowns and keeping those servers humming smoothly.
Sweden Glycol-based Heat Transfer Fluids Market, By End-use Industry
To Get a Summarized Market Report By End-use Industry-
So, how's the market looking, broken down by who's using these things? Well, we've got Food & Beverage Processing, Pharmaceutical, Chemical & Petrochemical, Automotive, HVAC, and a catch-all "Others". Seems like food and drink companies are the big dogs right now. In 2022, they grabbed a whopping 36.89% of the market, which translates to about USD 2.35 Million (that's a lot of dough!), and they're expected to keep growing at a rate of 4.85% over the next few years. HVAC came in second, with USD 1.57 Million in 2022, and they're looking at a 5.05% growth rate. But hold on – the Chemical & Petrochemical folks are predicted to be the speed demons, growing at a sizzling 7.16%! Why is Food & Beverage on top? Turns out, these fluids are super important in bakeries and candy factories, helping with things like getting dough to rise just right, tempering chocolate perfectly, and baking everything evenly. They're the secret to getting that perfect texture, look, and keeping things fresh on the shelves. Plus, they keep oven temps steady, so every cake, loaf of bread, and pastry comes out just right!
Key Players
The major players in the market are; Cannon Water Technology, Univar Solutions, BASF SE, Solventis, Arteco, Clariant, and others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.
Company Market Ranking Analysis
Okay, so we've really dug into the Glycol-based Heat Transfer Fluids market to see how the top 3 companies stack up. Our company ranking isn't just pulled out of thin air – we look at a lot of things! We're talking about Solventis, Arteco, and Clariant, and we're evaluating them based on their brand value, the whole range of their product portfolio (think variations, specs, features, and even price!), their company presence in key regions, how well their products are selling, and what slice of the total revenue they're grabbing. We also dive into their tech and any cool new strategies they're using to get noticed, especially in places like Sweden. Finally, we check out their distribution network – both online and offline – because that really tells us where they stand in the Glycol-based Heat Transfer Fluids market.
Company Regional/Industry Footprint
The company’s regional section provides geographical presence, regional-level reach, or the respective company’s sales network presence. For instance, Clariant has a presence in Sweden.
Apart from this, the industrial footprint section provides a cross-analysis of industry verticals and market players that gives a clear picture of the company landscape concerning the industries they serve their products. The product portfolio of the companies is classified in terms of their diversification as well as the number of products/services that are available. The geographic reach and the market penetration are determined considering the penetration of the company’s products and services in various geographical regions and industries.
Ace Matrix
This section of the report provides an overview of the company evaluation scenario in the Glycol-based Heat Transfer Fluids market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2019-2030
BASE YEAR
2022
FORECAST PERIOD
2024-2030
HISTORICAL PERIOD
2019-2021
UNIT
Value (USD Million)
KEY COMPANIES PROFILED
Cannon Water Technology, Univar Solutions, BASF SE, Solventis, Arteco, Clariant, and others.
SEGMENTS COVERED
Type, Application, & End-use Industry.
CUSTOMIZATION SCOPE
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope
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Sample Report for Sweden Glycol-based Heat Transfer Fluids Market Size By Type (Propylene Glycol, Ethylene Glycol), By Application (Heating, Cooling), By End-use Industry (Food & Beverage Processing, Pharmaceutical, Chemical & Petrochemical, Automotive, HVAC), And Forecast
