The global heat transfer fluids market size is projected to reach USD 5,372.24 million by the end of 2027. The increasing demand for concentrated solar power will aid the growth of the market in the coming years. According to a report published by Fortune Business Insights, the market was worth USD 3,477.90 million in 2019 and will exhibit a CAGR of 5.78% during the forecast period, 2020-2027.

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https://www.fortunebusinessinsights.com/heat-transfer-fluids-market-105543

Heat transfer fluids are widely used in several industry verticals including oil and gas, healthcare, chemicals, pharmaceuticals, and others. These fluids are used to transfer heat over two objects or areas; wherein they cool one side of the process and heat and store on the other side. The presence of several large scale companies with a wider consumer base and excellent product portfolios will open up a huge potential for the growth of the market.