Global Market Insights, Inc.

Thermic Fluids Market 2019 by Global Opportunities, Regional Trends and Industry Analysis

On the basis of region, Asia Pacific thermic fluids market will show decent growth of more than 6% over the forecast years. This is all due to significant presence of industries such as chemical, plastics, food & beverage, pharmaceutical, HVAC, oil & gas in the region. Initiatives taken by governments of emerging economies such as India, China to attract FDI inflow and open more manufacturing facilities will catapult the thermal fluids demand by 2025.

 

Sellbyville, DE -- (SBWIRE) -- 04/26/2019 -- Global Thermic Fluids Market report 2025 focuses on the major Types and Applications for the key players. The market forecast report also provides analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. The research report is a professional and in-depth study on the current state of global Industry.

Over the past few years, the global thermic fluids market has witnessed phenomenal growth in its commercialization potential, given the rapid expansion of pharmaceutical, F&B, HVAC, chemicals, and oil & gas industries. If reports are to be believed, the industrial applications of thermal fluids are diverse, ranging from simple transfer of heat from devices to advanced multi-loop systems performing several functions in manufacturing operations.

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Given the number of industries that use fluid transfer techniques in myriad applications, it does not come as a surprise that this business space in the year 2017 registered a significant remuneration portfolio of USD 2.4 billion, with mineral oil, aromatics, propylene & ethylene glycol based thermic fluids accounting for a significant share of thermic fluids market.

Silicone & aromatics based thermic fluids to drive the product landscape

Finding extensive demand from technical applications such as pharmaceutical processing, oil & gas, and CSP, the silicone & aromatics based thermic fluids accounted for a prominent share of more than 45% in 2017. Best suited for the completely exposed systems, silicon based thermic fluids are gaining immense traction owing to low operating costs and low viscosity index which results into superior heat transfer properties.

Moreover, the excellent oxidation & shear resistance properties coupled with thermal stability have added further to the expansion of silicone & aromatics based thermic fluids market from industrial applications. Given the widespread application base of these fluids in constant temperature baths, heating baths, closed loop systems, and temperature measurement devices, the silicone & aromatics based thermic fluids market is estimated to register a CAGR of 5.8% over 2018-2025.

The mineral oil based and glycol based thermic fluids are also gaining remarkable demand, on account of which the segment will contribute considerably toward global thermic fluids industry share. Reports in fact estimates that in terms of revenue share, the glycol based thermal fluids market will record a y-o-y growth of 6% over 2018-2025, subject to the rising demand from food processing applications.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

- Dow Chemical Company
- Exxon Mobil
- Solutia Inc.
- British Petroleum (BP)
- Royal Dutch Shell.
- Hindustan Petroleum
- BASF AG
- Dynalene Inc.
- Paratherm Corporation
- Multitherm LLC
- Kost USA Inc.
- Thermic Fluids Inc.
- Tulstar Products Inc.

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Speaking along similar lines, it is prudent to mention that the food & beverage sector has established itself as one of the lucrative growth avenues for the thermic fluids market expansion. Improved standard of living coupled with dynamic growth in the worldwide population has in fact favored the ethylene glycol thermic fluids demand in the recent years. For the record, wineries, dairies, breweries and other food processing companies require thermal fluids for heating, cooling, and dehumidifying. The food grade thermic fluid segment in this regard, is set up for some rapid expansion, while establishing itself as a lucrative investment avenue for thermic fluids market.

Rising number of CSP projects to bring renewed traction in the global thermic fluids industry expansion

In addition to the robust industrial growth, the heavy investment in construction of concentrating solar power projects around the world has also been a pivotal factor driving thermic fluids industry trends. Given the extensive demand for heat transfer fluids in improving the overall efficiency of CSP plants, it is quite overt that with the increasing deployment of solar energy farms in several countries, the demand for thermic fluids will also witness an exponential growth.

If reports are to be believed, U.S. and Spain are among the leading regions that have a large number of CSP projects with significant future investment scenarios. Estimates claim that Spain had CSP plants with operational capacity of approximately 2.3 GW in 2017 – more than any other country across the globe.

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China is another lucrative region where CSP plants are gaining immense traction in the recent years. To be precise, China recently in June 2018 completed its large-scale commercial concentrated solar power plant. According to reports, the plant is equipped with 120 single-trough collectors, wherein the solar receiver transfers heat from the sun to the thermal oil at a very high efficiency with the use of thermic fluids. It wouldn't be wrong to say that thermal fluids act as the interface between the solar energy input and the power block in the CSP plants, and therefore the increasing number of CSP projects in China will directly impact the regional thermic fluids industry share.

Driven by these aforementioned trends and strong application spectrum, the commercialization of the global thermic fluids market is expected to garner hefty returns in the coming years. A presumption validating the same is of Global Market Insights, Inc., that claims the overall business sphere to hit USD 4 billion by 2025.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.