Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market was valued at USD 1.0 Billion in 2022 and is projected to reach USD 1.6 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
Europe's Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid market is rapidly growing, driven by the increasing demand from various industries like automotive, HVAC, chemical processing, and energy production. Both ethylene glycol and propylene glycol are widely used due to their excellent heat transfer properties and cost-effectiveness. Their unique properties make them ideal candidates for use in cooling and heating systems, particularly in industrial processes where efficient temperature control is crucial.
The primary reason behind the rising requirement for these heat transfer fluids in industries is their versatility and ability to operate effectively in extreme temperatures. Ethylene glycol, being a stronger antifreeze agent, is often preferred in areas with extreme cold temperatures, while propylene glycol is commonly used in food-grade applications, particularly where contact with consumable products may occur. The market's growth is further fueled by increasing urbanization and industrialization across Europe, where the demand for energy-efficient heating and cooling systems is at an all-time high.
As industries continue to look for innovative solutions to maintain equipment performance and enhance energy efficiency, heat transfer fluids like ethylene glycol and propylene glycol are becoming a key component. They not only help in preventing corrosion and scaling but also extend the lifespan of industrial machinery. For example, the automotive sector uses these fluids in radiator systems, while the chemical processing industry relies on them to maintain precise temperature regulation for various reactions.
The demand for these fluids is also driven by the increasing adoption of renewable energy technologies like solar power and geothermal systems, which require effective heat transfer systems to optimize energy efficiency. In addition, the growing use of heat transfer fluids in HVAC systems in commercial buildings and residential properties is further boosting market growth.
In the coming years, the market for ethylene glycol and propylene glycol-based heat transfer fluids in Europe is expected to expand as industries continue to prioritize sustainability, energy savings, and reliable performance in their heat management systems. The demand will be shaped by ongoing technological advancements and regulatory requirements, as well as the increasing need for efficient cooling and heating solutions across various sectors.
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Dynalene
Inc.
Dow Inc.
KOST
Fuchs
Mokon
Proviron
SPS
Matrix Specialty Lubricants
Houghton Chemical
Calvary Industries
PrixMax
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market
Agriculture
Automotive
Chemical Processing
Food and Beverage
HVAC
Heating Systems
Cooling Systems
Solar Thermal Systems
Industrial Process Heat Transfer
Ethylene Glycol-Based Heat Transfer Fluids
Propylene Glycol-Based Heat Transfer Fluids
Antifreeze
Corrosion Inhibitor
Heat Transfer
Direct Sales
Online Sales
Retail Sales
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market, By Type
6. Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market, By Application
7. Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Europe Ethylene Glycol and Propylene Glycol-based Heat Transfer Fluid Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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