This site uses cookies, including third-party cookies, that help us to provide and improve our services.

Privacy Policy
- Global Locations -
Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware - 19713, United States
T: +1-845-579-5705
Market Access DMCC
1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
Future Market Insights
3rd Floor, 207 Regent Street,
London W1B 3HH
United Kingdom
T: + 44 (0) 20 8123 9659
D: +44 (0) 20 3287 4268
Future Market Insights
Office No. 401-A, 4th Floor,
VANTAGE 9, S.No. 36/1/1,
Baner, Pune 411045 India

Thermic Fluid Market

Market Insights on Thermic Fluid covering sales outlook, demand forecast & up-to-date key trends

Thermic Fluid Market Analysis By Industry (Mineral Oils, Glycols, Silicon and Aromatics, and Others), End-use Industries (Food and Beverage, Pharmaceutical, Chemical, Concentrated Solar Power, Oil and Gas, and Others), & Region - Forecast to 2022-2032

Thermic Fluid Market: Global Industry Analysis and Opportunity Assessment 2014 - 2020 Overview

The thermic fluid market is anticipated to grow by a CAGR of more than 6.2% from 2022-2032.

“Thermic fluid oil specification is a key criteria for end users to choose the product for various purposes.”

These liquids are used in applications where water or streams might not work well. It is used in various industries, such as the chemical industry, solar power plants, manufacturing processes, petroleum processing and many more.

The market for thermic fluid has grown more than a CAGR of 7.5% from 2014 to 2020 globally.



Historical CAGR of Thermic Fluids Market (2014-2020)


 CAGR of Thermic Fluids Market (2022-2032)


Customize this Report

Let us know your requirement to get
100% FREE customization

What are the Strengths and Challenges for the Thermic Fluids Market?

“Increasing environmental concerns across the globe have increased investments in solar power projects, and this will significantly propel the thermic fluids market demand in the coming years.”

Some of the major factors driving the growth of the market are increased performance by the industrial sectors, benefits offered by these thermal liquids, and growth in the concentrated solar power market.

Rising prices of raw materials is one of the major restraints of the market. But in the future, the thermic fluid market has huge opportunities due to growing heat transfer leads demand and increasing demand from the Asia Pacific region due to their continuous strong economic growth and rising demand for energy.

Nikhil Kaitwade
Principal Consultant
Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst

How is the Thermic Fluids Market Segmented?

“Thermic liquids also have a low viscosity, which allows for better heat transfer. Thermic fluids of this type are widely used in technical applications such as chemical processing, pharmaceutical processing, oil and gas processing, and CSP plants.”

Based on product, the thermic fluid market market is segmented into Silicone & Aromatic Based, Mineral Oils Based, and Glycol Based. Ethylene glycol-based fluids are employed in the cooling and heating processes because they are corrosion resistant, easy to maintain, and replenishable.

Thermal fluid with low acute oral toxicity is a must-have property for food processing applications and processes that may come into contact with water.

Based on application, the thermic fluid market market is segmented into Oil & Gas, Chemical, Concentrated Solar Power (CSP), Food & Beverage, Plastics, Pharmaceuticals, Heating, Ventilation & Air Conditioning (HVAC).

Increased R&D activity to create cure and preventative medications and vaccines will arise from an increase in the number of individuals suffering from chronic diseases. This will improve pharmaceutical production, boosting the demand for thermic fluids in the next few years.

What is the Regional Scope of the Thermic Fluids Market?

“Due to the pharmaceuticals industry, North America is experiencing rapid growth in the thermic fluid market. Thermic fluids are the also garnering high popularity in Europe.”

Europe is the market leader for thermic fluid. But in the future, Asia Pacific is expected to be the most promising market. India and China are expected to be the fastest growing markets for these fluids.

Another growing thermic fluid market for heat transfer liquids is the Middle East. In the future, the growth of the thermic fluid is expected to be moderate in the economies of Europe and North America. 

From 2018 to 2025, the North America thermic fluid market is expected to increase at a healthy 5.5 percent. This is owing to the existence of a variety of end-use sectors, such as pharmaceuticals, oil and gas, chemical, food and beverage, HVAC, and others.

The United States has transitioned from being a net importer to a net exporter as a result of increased shale oil and gas output. Furthermore, the new administration's legislative measures will help the thermal oil and gas business flourish, as well as the chemical industry. The above-mentioned trends will continue and offer the thermic fluids market a boost in the future.

Become a MarketNgage Insider

An unified Market Research Subscription Platform, built for today’s disparate research needs.

Key Segments



Forecast Period


Historical Data available for


Market Analysis

USD Bn for Value

By Type

  • Mineral Oils
  • Silicon and Aromatics
  • Glycols
  • Others

By End-user Industry

  • Food & Beverage
  • Chemical
  • Pharmaceutical
  • Oil & Gas
  • Concentrated Solar Power
  • Others

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific
  • Japan
  • Middle East and Africa

Key Players

  • Solutia Inc. (U.S.)
  • Dow Chemical’s Co. (U.S.)
  • ExxonMobil (U.S.)
  • Shell Corporation (The Netherlands)
  • BP (U.K.)

Frequently Asked Questions

Global thermic fluid market is expected to register a CAGR of 6.2% from 2022 to 2032.

The size of the thermic fluid market was worth 3 Bn in 2020.

Table of Content


Customize this Report

Let us know your requirement to get
100% FREE customization

List of Tables


Nikhil Kaitwade
Principal Consultant
Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Talk to Analyst
List of Charts


Need specific information?

Request Customization

Explore Chemicals & Materials Insights

View Reports
Google translate