Thermic fluids are engineering fluids that are used in transferring heat from heat sources. Generally, thermic fluids are low-viscosity mineral oils that have the capability of remaining chemically stable even at high operating temperatures. They are characterized by excellent oxidation and chemical stability, low volatility, corrosion resistance, nontoxicity, and remarkable heat transfer properties.
MARKET DYNAMICS
The soaring demand for thermic fluids in improving the efficiency of concentrated solar power plants is expected to drive the growth of the thermic fluids market. The increasing employment of thermic fluids in transferring and utilizing solar heat collected by solar thermal energy collectors has opened opportunities for thermal fluid manufacturers in recent years. The transition from fossil-based fuels to renewable energy across the world has led to the installation of a number of solar power plants across the world and subsequently compounded the consumption of thermic fluids used in solar power plants. Moreover, the widespread use of thermic fluids in industrial heat exchange equipment has further augmented the demand for thermic fluids.
MARKET SCOPE
The "Global Thermic Fluids Market Analysis to 2028" is a specialized and in-depth study of the chemicals and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the thermic fluids market with detailed market segmentation by products, applications, and geography. The global thermic fluids market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading thermic fluids market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global thermic fluids market is segmented on the basis of products and applications. On the basis of products, the thermic fluids market is segmented into silicone & aromatic based fluids, mineral oils-based fluids, glycol based fluids, and others. The thermic fluids market on the basis of applications is classified into oil and gas, chemical industry, concentrated solar power, food and beverage, plastic, pharmaceuticals, heating, venting, and air conditioning (HVAC), and others.REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global thermic fluids market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America. The thermic fluids market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally, along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the thermic fluids market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five regions, namely; North America, Europe, APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the thermic fluids market in these regions.
MARKET PLAYERS
The reports cover key developments in the thermic fluids market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market payers from the thermic fluids market are anticipated to lucrative growth opportunities in the future with the rising demand for thermic fluids in the global market. Below mentioned is the list of few companies engaged in the thermic fluids market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the thermic fluids market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last three years, the key development in the past five years.
- British Petroleum (BP)
- Dow Chemical Company
- Dynalene Inc
- Exxon Mobil
- Hindustan Petroleum
- Multitherm LLC
- Paratherm Corporation
- Royal Dutch Shell
- Solutia Inc
- Thermic Fluids Inc
The Insight Partner's dedicated research and analysis team consists of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.