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$4 Billion | Thermic Fluids Market Future Trends & Demand Analysis during 2019 - 2024

Author : Rahul Varpe | Published Date : 2019-09-24 

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.

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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. 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.

Driven by 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.

Thermic Fluids Market, by Application

  • Oil & gas
  • Chemical industry
  • Concentrates solar power (CSP)
  • Food & beverage
  • Plastics
  • Pharmaceuticals
  • Heating, ventilation & air conditioning (HVAC)
  • Others

Important pointers encompassed pertaining to the application spectrum:

  • The report encompasses major details about the application spectrum.
  • The target valuation that each of the sub-segments of the application landscape will procure by the end of the anticipate period are mentioned in the report.
  • The market share that these sub-segments held are also entailed in the study.
  • The global trends that define the application landscape are discussed in the report.

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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 market 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.

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Global thermic fluids market players are Royal Dutch Shell, Dow Chemical Company, Exxon Mobil, Kost U.S.A. Inc, Dynalene Inc., Multitherm LLC, Hindustan Petroleum, Paratherm Corporation, Tulstar Products Inc., BASF AG, Thermic Fluids Pvt. Ltd., Solutia Inc., Dynalene Inc and others.

Related News: https://www.marketwatch.com/press-release/building-thermal-insulation-market-brief-analysis-to-2025-by-regional-players-owens-corning-corporation-cellofoam-north-america-atlas-roofing-corporation-paroc-2019-09-24

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.

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Corporate Sales, USA

Global Market Insights, Inc.

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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