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
