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Thermic Fluids Market is predicted to surpass $4 billion by 2025

Author : Rahul Varpe | Published Date : 2019-07-09 

Concentrated solar power plants offer various advantages such as storing the energy that can be used when clouds block the sun or after sunset in order to produce electricity. These plants have six hours storage capacity which can add the operational value of around USD 35 megawatt per hour as compared to photovoltaics. This in turn will bolster the entire thermic fluids market demand by 2025.

Mineral oil will clutch more than 25% of entire volume share in coming year. Mineral oils are lightly refined and also need minimal additives to protect from corrosion. These oils offer various advantages such as low viscosity, thermal stability, etc. that further increases the efficiency of thermal fluids.

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Europe Thermic Fluids Market will clutch over 30% of the volume share in forecasted timeframe and is anticipated to witness a moderate growth. Increasing number of CSP plants, especially in Spain, is expected to drive the entire regional thermic fluids market demand by 2025. Surge in application and technological advancements in thermic fluids is expected to drive the industry growth in Europe.

Significant growth in concentrated solar power generation in most of the Asian countries due to increasing demand for electricity across the region. This will subsequently spur the thermic fluids demand in forecast period. Thermal fluids play a crucial role in improving efficiency of CSP plants owing to its excellent heat storage property which increases the electricity generation capacity of the plant.

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Major players in the thermic fluids market are now focusing on developing thermic fluids especially for thermal storage at CSP plants. In addition, manufacturers are entering into mergers and acquisitions to develop solar thermic fluids, which are expected to be major future requirements. Few of them are:

  • Kost
  • Royal Dutch Shell
  • Exxon Mobil
  • Dow Chemical Company
  • Dynalene
  • Hindustan Petroleum
  • Multitherm
  • BASF
  • Paratherm Corporation
  • Tulstar Products

Food & beverage application segment will be valued over USD 600 million in 2025. Various industries such as breweries, wineries, dairies and the food processing industry require thermic fluids in different processes. Application of thermic fluids is expected to increase with increasing availability of food grade thermic fluids.

 

Related News: https://industrynews360.blogspot.com/2019/07/global-material-handling-equipment.html 

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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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