Thermic Fluids Market trends research and projections for 2019 - 2025

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Thermic Fluids Market Growth Outlook with
Industry Review and Forecast 2019-2025
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Global Market Scenario of Thermic Fluids Industry

• The thermic fluids market is segregated into
  product, application and region. The product
  segment includes glycol, mineral oil and silicone
  aromatic based thermic fluids. Among these,
  mineral oil will clutch more than 25 of entire
  volume share in coming year. Mineral oils are
  lightly refined and 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.
• 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 thermal fluids market
  demand by 2025.
• The application segment is further bifurcated
  into oil gas, chemical, concentrated solar
  power, food beverage, plastics, pharmaceuticals
  and HVAC. 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.

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• One of the major factors hindering the global
  thermic fluids market growth is environmental
  concerns related to its production and usage.
  Conventional thermal fluids are derived from
  petroleum based raw materials which release high
  amount of hazardous gases on ignition. In order
  to overcome such problems and to decrease
  reliance on crude oil based thermal fluids the
  world is shifting towards the use of bio-based
  alternatives. Bio-based thermic fluids along with
  providing a clean solution also provides
  competitive advantage in terms of price against
  their synthetic counterparts.
• 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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360 Industry Analysis

• Europe 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 thermal fluid market
  demand by 2025. Surge in application and
  technological advancements in thermic fluids is
  expected to drive the industry growth in Europe.
•  

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• Competitive Analysis
• Major players in the industry 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, and others.

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