The thermic fluid market is anticipated to grow by a CAGR of more than 6.2% from 2022 to 2032.
Thermic fluid oil specification is a key criterion 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.
| Attributes | Details |
|---|---|
| Historical CAGR of the Thermic Fluids Market (2014 to 2020) | 7.5% |
| CAGR of Thermic Fluids Market (2022 to 2032) | 6.2% |
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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 are one of the major restraints of the market. But in the future, the thermic fluid market has huge opportunities due to growing heat transfer leading to demand and increasing demand from the Asia Pacific region due to their continued strong economic growth and rising demand for energy.
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 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 is segmented into Oil & Gas, Chemical, Concentrated Solar Power (CSP), Food & Beverage, Plastics, Pharmaceuticals, Heating, Ventilation & Air Conditioning (HVAC).
Increased Research and Development activity to create cures 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.
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Due to the pharmaceutical industry, North America is experiencing rapid growth in the thermic fluid market. Thermic fluids are 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 American 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 USA 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.
| Attributes | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data available for | 2014 to 2020 |
| Market Analysis | USD Billion 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; Middle East and Africa |
| Key Players | Solutia Inc. (USA); Dow Chemical’s Co. (USA); ExxonMobil (USA); Shell Corporation (The Netherlands); BP (United Kingdom) |
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The 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 Billion in 2020.
1. Executive Summary | Thermic Fluid Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and Their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Tonnes) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis By Application, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Tonnes) Analysis and Forecast By Application, 2022 to 2032 5.3.1. Oil & Gas 5.3.2. Concentrated Solar Power 5.3.3. Food & Beverage 5.3.4. Chemical Industry 5.3.5. Plastics 5.3.6. HVAC 5.3.7. Pharmaceuticals 5.3.8. Others (Transport, Biodiesel, Waste Heat Recovery, etc.) 5.4. Y-o-Y Growth Trend Analysis By Application, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Application, 2022 to 2032 Deep-dive segmentation will be available in the sample on request 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis By Product Type, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Tonnes) Analysis and Forecast By Product Type, 2022 to 2032 6.3.1. Silicone & Aromatic 6.3.2. Mineral Oil 6.3.3. Glycol-Based Fluids 6.3.4. Others (HFPE Thermic Fluids, Molten Salts, etc.) 6.4. Y-o-Y Growth Trend Analysis By Product Type, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Product Type, 2022 to 2032 Deep-dive segmentation will be available in the sample on request 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Tonnes) Analysis By Region, 2017 to 2021 7.3. Current Market Size Value (US$ Million) & Volume (Tonnes) Analysis and Forecast By Region, 2022 to 2032 7.3.1. North America 7.3.2. Latin America 7.3.3. Europe 7.3.4. East Asia 7.3.5. South Asia & Pacific 7.3.6. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Trend Analysis By Market Taxonomy, 2017 to 2021 8.2. Market Size Value (US$ Million) & Volume (Tonnes) Forecast By Market Taxonomy, 2022 to 2032 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Application 8.2.3. By Product Type 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Application 8.3.3. By Product Type 8.4. Key Takeaways 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Trend Analysis By Market Taxonomy, 2017 to 2021 9.2. Market Size Value (US$ Million) & Volume (Tonnes) Forecast By Market Taxonomy, 2022 to 2032 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Application 9.2.3. By Product Type 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Application 9.3.3. By Product Type 9.4. Key Takeaways 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Tonnes) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. United Kingdom 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Europe 10.2.2. By Application 10.2.3. By Product Type 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Application 10.3.3. By Product Type 10.4. Key Takeaways 11. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Tonnes) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. China 11.2.1.2. Japan 11.2.1.3. South Korea 11.2.2. By Application 11.2.3. By Product Type 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Application 11.3.3. By Product Type 11.4. Key Takeaways 12. South Asia & Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Tonnes) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Thailand 12.2.1.3. Indonesia 12.2.1.4. Malaysia 12.2.1.5. Singapore 12.2.1.6. Australia 12.2.1.7. New Zealand 12.2.1.8. Rest of South Asia & Pacific 12.2.2. By Application 12.2.3. By Product Type 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Application 12.3.3. By Product Type 12.4. Key Takeaways 13. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Tonnes) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ Million) & Volume (Tonnes) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. GCC Countries 13.2.1.2. South Africa 13.2.1.3. Israel 13.2.1.4. Rest of Middle East and Africa 13.2.2. By Application 13.2.3. By Product Type 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Application 13.3.3. By Product Type 13.4. Key Takeaways 14. Key Countries Market Analysis 14.1. USA 14.1.1. Pricing Analysis 14.1.2. Market Share Analysis, 2021 14.1.2.1. By Application 14.1.2.2. By Product Type 14.2. Canada 14.2.1. Pricing Analysis 14.2.2. Market Share Analysis, 2021 14.2.2.1. By Application 14.2.2.2. By Product Type 14.3. Brazil 14.3.1. Pricing Analysis 14.3.2. Market Share Analysis, 2021 14.3.2.1. By Application 14.3.2.2. By Product Type 14.4. Mexico 14.4.1. Pricing Analysis 14.4.2. Market Share Analysis, 2021 14.4.2.1. By Application 14.4.2.2. By Product Type 14.5. Germany 14.5.1. Pricing Analysis 14.5.2. Market Share Analysis, 2021 14.5.2.1. By Application 14.5.2.2. By Product Type 14.6. United Kingdom 14.6.1. Pricing Analysis 14.6.2. Market Share Analysis, 2021 14.6.2.1. By Application 14.6.2.2. By Product Type 14.7. France 14.7.1. Pricing Analysis 14.7.2. Market Share Analysis, 2021 14.7.2.1. By Application 14.7.2.2. By Product Type 14.8. Spain 14.8.1. Pricing Analysis 14.8.2. Market Share Analysis, 2021 14.8.2.1. By Application 14.8.2.2. By Product Type 14.9. Italy 14.9.1. Pricing Analysis 14.9.2. Market Share Analysis, 2021 14.9.2.1. By Application 14.9.2.2. By Product Type 14.10. China 14.10.1. Pricing Analysis 14.10.2. Market Share Analysis, 2021 14.10.2.1. By Application 14.10.2.2. By Product Type 14.11. Japan 14.11.1. Pricing Analysis 14.11.2. Market Share Analysis, 2021 14.11.2.1. By Application 14.11.2.2. By Product Type 14.12. South Korea 14.12.1. Pricing Analysis 14.12.2. Market Share Analysis, 2021 14.12.2.1. By Application 14.12.2.2. By Product Type 14.13. India 14.13.1. Pricing Analysis 14.13.2. Market Share Analysis, 2021 14.13.2.1. By Application 14.13.2.2. By Product Type 14.14. Thailand 14.14.1. Pricing Analysis 14.14.2. Market Share Analysis, 2021 14.14.2.1. By Application 14.14.2.2. By Product Type 14.15. Indonesia 14.15.1. Pricing Analysis 14.15.2. Market Share Analysis, 2021 14.15.2.1. By Application 14.15.2.2. By Product Type 14.16. Malaysia 14.16.1. Pricing Analysis 14.16.2. Market Share Analysis, 2021 14.16.2.1. By Application 14.16.2.2. By Product Type 14.17. Singapore 14.17.1. Pricing Analysis 14.17.2. Market Share Analysis, 2021 14.17.2.1. By Application 14.17.2.2. By Product Type 14.18. Australia 14.18.1. Pricing Analysis 14.18.2. Market Share Analysis, 2021 14.18.2.1. By Application 14.18.2.2. By Product Type 14.19. New Zealand 14.19.1. Pricing Analysis 14.19.2. Market Share Analysis, 2021 14.19.2.1. By Application 14.19.2.2. By Product Type 14.20. GCC Countries 14.20.1. Pricing Analysis 14.20.2. Market Share Analysis, 2021 14.20.2.1. By Application 14.20.2.2. By Product Type 14.21. South Africa 14.21.1. Pricing Analysis 14.21.2. Market Share Analysis, 2021 14.21.2.1. By Application 14.21.2.2. By Product Type 14.22. Israel 14.22.1. Pricing Analysis 14.22.2. Market Share Analysis, 2021 14.22.2.1. By Application 14.22.2.2. By Product Type 15. Market Structure Analysis 15.1. Competition Dashboard 15.2. Competition Benchmarking 15.3. Market Share Analysis of Top Players 15.3.1. By Regional 15.3.2. By Application 15.3.3. By Product Type 16. Competition Analysis 16.1. Competition Deep Dive 16.1.1. BASF SE 16.1.1.1. Overview 16.1.1.2. Product Portfolio 16.1.1.3. Profitability by Market Segments 16.1.1.4. Sales Footprint 16.1.1.5. Strategy Overview 16.1.1.5.1. Marketing Strategy 16.1.1.5.2. Product Strategy 16.1.1.5.3. Channel Strategy 16.1.2. Royal Dutch Shell 16.1.2.1. Overview 16.1.2.2. Product Portfolio 16.1.2.3. Profitability by Market Segments 16.1.2.4. Sales Footprint 16.1.2.5. Strategy Overview 16.1.2.5.1. Marketing Strategy 16.1.2.5.2. Product Strategy 16.1.2.5.3. Channel Strategy 16.1.3. British Petroleum 16.1.3.1. Overview 16.1.3.2. Product Portfolio 16.1.3.3. Profitability by Market Segments 16.1.3.4. Sales Footprint 16.1.3.5. Strategy Overview 16.1.3.5.1. Marketing Strategy 16.1.3.5.2. Product Strategy 16.1.3.5.3. Channel Strategy 16.1.4. Exxon Mobil Corporation 16.1.4.1. Overview 16.1.4.2. Product Portfolio 16.1.4.3. Profitability by Market Segments 16.1.4.4. Sales Footprint 16.1.4.5. Strategy Overview 16.1.4.5.1. Marketing Strategy 16.1.4.5.2. Product Strategy 16.1.4.5.3. Channel Strategy 16.1.5. The Dow Chemical Company 16.1.5.1. Overview 16.1.5.2. Product Portfolio 16.1.5.3. Profitability by Market Segments 16.1.5.4. Sales Footprint 16.1.5.5. Strategy Overview 16.1.5.5.1. Marketing Strategy 16.1.5.5.2. Product Strategy 16.1.5.5.3. Channel Strategy 16.1.6. Chevron Corporation 16.1.6.1. Overview 16.1.6.2. Product Portfolio 16.1.6.3. Profitability by Market Segments 16.1.6.4. Sales Footprint 16.1.6.5. Strategy Overview 16.1.6.5.1. Marketing Strategy 16.1.6.5.2. Product Strategy 16.1.6.5.3. Channel Strategy 16.1.7. Eastman Chemical Company 16.1.7.1. Overview 16.1.7.2. Product Portfolio 16.1.7.3. Profitability by Market Segments 16.1.7.4. Sales Footprint 16.1.7.5. Strategy Overview 16.1.7.5.1. Marketing Strategy 16.1.7.5.2. Product Strategy 16.1.7.5.3. Channel Strategy 16.1.8. Huntsman Corporation 16.1.8.1. Overview 16.1.8.2. Product Portfolio 16.1.8.3. Profitability by Market Segments 16.1.8.4. Sales Footprint 16.1.8.5. Strategy Overview 16.1.8.5.1. Marketing Strategy 16.1.8.5.2. Product Strategy 16.1.8.5.3. Channel Strategy 16.1.9. Hindustan Petroleum Corporation Ltd 16.1.9.1. Overview 16.1.9.2. Product Portfolio 16.1.9.3. Profitability by Market Segments 16.1.9.4. Sales Footprint 16.1.9.5. Strategy Overview 16.1.9.5.1. Marketing Strategy 16.1.9.5.2. Product Strategy 16.1.9.5.3. Channel Strategy 16.1.10. Dynalene Inc. 16.1.10.1. Overview 16.1.10.2. Product Portfolio 16.1.10.3. Profitability by Market Segments 16.1.10.4. Sales Footprint 16.1.10.5. Strategy Overview 16.1.10.5.1. Marketing Strategy 16.1.10.5.2. Product Strategy 16.1.10.5.3. Channel Strategy 16.1.11. Indian Oil Corporation Ltd 16.1.11.1. Overview 16.1.11.2. Product Portfolio 16.1.11.3. Profitability by Market Segments 16.1.11.4. Sales Footprint 16.1.11.5. Strategy Overview 16.1.11.5.1. Marketing Strategy 16.1.11.5.2. Product Strategy 16.1.11.5.3. Channel Strategy 16.1.12. Kost USAA Inc. 16.1.12.1. Overview 16.1.12.2. Product Portfolio 16.1.12.3. Profitability by Market Segments 16.1.12.4. Sales Footprint 16.1.12.5. Strategy Overview 16.1.12.5.1. Marketing Strategy 16.1.12.5.2. Product Strategy 16.1.12.5.3. Channel Strategy 16.1.13. MultiTherm LLC 16.1.13.1. Overview 16.1.13.2. Product Portfolio 16.1.13.3. Profitability by Market Segments 16.1.13.4. Sales Footprint 16.1.13.5. Strategy Overview 16.1.13.5.1. Marketing Strategy 16.1.13.5.2. Product Strategy 16.1.13.5.3. Channel Strategy 16.1.14. PARATHERM 16.1.14.1. Overview 16.1.14.2. Product Portfolio 16.1.14.3. Profitability by Market Segments 16.1.14.4. Sales Footprint 16.1.14.5. Strategy Overview 16.1.14.5.1. Marketing Strategy 16.1.14.5.2. Product Strategy 16.1.14.5.3. Channel Strategy 16.1.15. Acota Ltd 16.1.15.1. Overview 16.1.15.2. Product Portfolio 16.1.15.3. Profitability by Market Segments 16.1.15.4. Sales Footprint 16.1.15.5. Strategy Overview 16.1.15.5.1. Marketing Strategy 16.1.15.5.2. Product Strategy 16.1.15.5.3. Channel Strategy 17. Assumptions & Acronyms Used 18. Research Methodology
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Thermic Fluid Market
