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Heat exchangers are used to transfer heat between two fluids, to maintain the temprature of Process. Mostly heat exchanges are much costly, But play the role of heart in many industries For examle Boilers are a type of heat exchanger.
Heat Exchangers are used in the industry to transfer heat from one fluid to another fluid. Its used for many different purposes.
The advantage for using a heat exchanger is that it economizes the whole plant and maximized your energy recovery.
Secondly energy losses are minimized and every joule of energy is utilized and not wasted.
Lastly there is no general disadvantage of using a heat exchanger. Installing a heat exchanger for energy recovery or transfer is beneficial always.