Research on nanoparticle enhanced fluids has increased rapidly over the last decade. Regardless of several unreliable reports, these new fluids have established performance in heat transfer. Lately, polyethylene glycol with nanoparticles has been demarcated as an innovative class of phase change materials with conceivable uses in the area of convective heat transfer. The amplified thermal conductivity of these nanoparticle enhanced phase change materials (PCMs) over the basic fluids (e.g., polyethylene glycol—PEG) is considered one of the driving factors for their improved performance in heat transfer. Most of the research, however, is centered on the thermal conductivity discussion and less on viscosity variation, while specific heat capacity seems to be fully ignored. This short review abridges most of the recent investigations on new PEG-based fluids and is dedicated especially to thermophysical properties of the chemicals, while a number of PEG-based nanofluids are compared in terms of base fluid and/or nanoparticle type and concentration. This review outlines the possibility of developing promising new heat transfer fluids. To conclude, this research is in its pioneering phase, and a large amount of experimental and numerical work is required in the coming years.
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