Global Thermic Fluids Market Report offers market size, share, overview, segmentation by types, application, countries, key manufactures, cost analysis, industrial chain, sourcing strategy, downstream buyers, marketing strategy analysis, distributors/traders, factors affecting market, forecast and other important information for key insight.
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.
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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.
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.
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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.
Dubai is another region which is expected to emerge as a profitable investment ground for the potential stakeholders of the global thermic fluids market. According the recent news, the construction of one of the largest concentrated solar power projects in the world has begun in the UAE, where the Dubai Electricity and Water Authority in collaboration with Saudi Arabia’s ACWA Power and China’s Shanghai Electric will be developing a 700MW project. Needless to say, these types of massive scale projects will draw lucrative growth avenues for the regional market in the ensuing years.
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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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