Press release
What's driving the Thermic Fluids Market Trends? Key Players: Dow, ExxonMobil, BP, Royal Dutch Shell, Hindustan Petroleum Corporation Limited, BASF
Thermic Fluids Market
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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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.
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
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Thermic fluids market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand units & revenue in USD million from 2014 to 2025, for the following segments:
Thermic Fluids Market, Product by Application:
• Silicone & aromatic based fluids:
o Oil & gas
o Chemical industry
o Concentrates solar power (CSP)
o Food & beverage
o Plastics
o Pharmaceuticals
o Heating, ventilation & air conditioning (HVAC)
o Others
• Mineral oils based thermic fluids:
o Oil & gas
o Chemical industry
o Concentrates solar power (CSP)
o Food & beverage
o Plastics
o Pharmaceuticals
o Heating, ventilation & air conditioning (HVAC)
o Others
• Glycol based thermic fluids:
o Oil & gas
o Chemical industry
o Concentrates solar power (CSP)
o Food & beverage
o Plastics
o Pharmaceuticals
o Heating, ventilation & air conditioning (HVAC)
o Others
• Others:
o Oil & gas
o Chemical industry
o Concentrates solar power (CSP)
o Food & beverage
o Plastics
o Pharmaceuticals
o Heating, ventilation & air conditioning (HVAC)
o Others
Thermic Fluids Industry, by Application:
• Oil & gas
• Chemical industry
• Concentrates solar power (CSP)
• Food & beverage
• Plastics
• Pharmaceuticals
• Heating, ventilation & air conditioning (HVAC)
• Others
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.
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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