An emulsion layer model is presented which predicts the thickness of a downward‐moving emulsion layer along the wall of a circulating fluidized bed, the mean solids velocity, and the solids flux in the layer. Also presented is a heat transfer model which, in combination with the emulsion layer model, predicts the low‐temperature data very well. An alternate slab model proposed for the radiative component in a high‐temperature circulating fluidized bed agrees well with experimental data. The heat transfer predictions of the overall model for such operating parameters as solid circulation flux, suspension temperature, length of the heat transfer surface, superficial gas velocity, and mean particle size are in good agreement with the published data for long surfaces. Copyright © 1991 American Institute of Chemical Engineers