Thermic Fluids Market 2018-2025 Growth & Regional Revenue By Global Players - Dow Chemical Company, ExxonMobil, BP, Hindustan Petroleum Corporation Limited, BASF, Tulstar Products Inc.

Asia Pacific thermic fluids market will show decent growth of more than 6% over the forecast years. This is all due to significant presence of industries such as chemical, plastics, food & beverage, pharmaceutical, HVAC, oil & gas in the region. Initiatives taken by governments of emerging economies such as India, China to attract FDI inflow and open more manufacturing facilities will catapult the thermal fluids demand by 2025.

Thermic Fluids Market size will surpass USD 4 billion by 2025; according to a new research report by Global Market Insights, Inc. Some of key 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.

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Silicone & aromatics based thermic fluids to drive the product landscape

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.

- Thermic Fluids Market, Product by Application

• Silicone & aromatic based thermic fluids
• Mineral oils based thermic fluids
• Glycol based thermic fluids
• Others

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Rising number of CSP projects to bring renewed traction in the global thermic fluids industry expansion

In addition to the robust industrial growth, the heavy investment in construction of concentrating solar power projects around the world has also been a pivotal factor driving thermic fluids industry trends. Given the extensive demand for heat transfer fluids in improving the overall efficiency of CSP plants, it is quite overt that with the increasing deployment of solar energy farms in several countries, the demand for thermic fluids will also witness an exponential growth. If reports are to be believed, U.S. and Spain are among the leading regions that have a large number of CSP projects with significant future investment scenarios. Estimates claim that Spain had CSP plants with operational capacity of approximately 2.3 GW in 2017 – more than any other country across the globe.

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.

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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 thermic fluids market in the ensuing years.

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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