United States Thermic Fluid Market Accelerates at 4.5% CAGR on Industrial Heat Transfer Surge - $3.5 Billion Milestone by 2031 | DataM Intelligence

Leander, Texas and TOKYO, Japan - Nov. 19, 2025. According to DataM Intelligence, the United States Thermic Fluid Market Size is growing from USD 2.5 billion in 2023 to USD 3.5 billion by 2031, registering a robust CAGR of 4.5% during 2024-2031. The surging demand for efficient heat transfer solutions in refining and renewables, the expansion of chemical processing capacities, and advancements in synthetic fluid formulations are fueling the need for high-performance thermic fluids that optimise thermal efficiency without excessive maintenance or emissions. Thermic fluids, specialised heat carriers including mineral oils, synthetics, and glycols, revolutionise industrial operations by enabling indirect heating in closed-loop systems, preventing direct combustion risks while ensuring uniform temperature control and longevity compliant with OSHA safety standards and API guidelines. By combining advanced base stocks, antioxidant additives, and precise viscosity engineering with rigorous thermal stability testing, this market delivers reliable, non-toxic solutions for petrochemical distillation, food processing, and concentrated solar power across the United States and beyond.

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Competitive Landscape

The market is highly competitive among global chemical giants, fluid specialists, and energy innovators.

1️⃣Dow Chemical Company expanded its U.S. synthetic thermic fluid production in Texas, operational since early 2025, boosting supply for oil refineries with 20% enhanced thermal stability.

2️⃣ExxonMobil acquired a key glycol-based fluid developer in Houston, reinforcing its North American portfolio and reporting a 15% revenue increase in renewable energy segments.

3️⃣BASF AG partnered with three solar tech firms to launch high-temperature synthetics for CSP plants, achieving 90% efficiency gains and capturing 25% of utility-scale projects.

4️⃣Shell Global Solutions introduced bio-derived mineral oil blends with superior oxidation resistance, securing contracts with major U.S. chemical processors and driving 18% domestic sales growth.

5️⃣Paratherm Corporation rolled out low-toxicity fluids optimized for food-grade applications, reducing downtime by 30% and collaborating with beverage giants for customized heating systems.

Recent Developments

1. Dynalene Inc. unveiled a nanotechnology-enhanced thermic fluid for data center cooling at ACHEMA 2024 in Frankfurt, targeting high-density server farms (June 2024).

2. Multitherm LLC opened a dedicated blending facility in Pennsylvania for synthetic oils, serving expanded Northeast refining operations (September 2024).

3. Kost USA Inc. integrated predictive analytics into fluid monitoring for petrochemical uses, improving lifespan projections for Gulf Coast clients (July 2025).

4.vSolutia Inc. debuted glycol-free alternatives for pharmaceutical heating, partnering with biotech hubs in California to meet cleanroom standards (May 2025).

5. British Petroleum launched Castrol-branded e-thermal fluids for EV battery systems, cutting thermal runaway risks by 40% in U.S. pilot tests (March 2025).

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Growth Drivers

✦ The global chemicals market surpassed USD 5 trillion in 2024, with thermic fluids accounting for 2% of process heating costs, underscoring the push for durable formulations amid capacity expansions.

✦ U.S. oil refining throughput exceeded 18 million barrels per day in 2024, driving over 1 billion gallons of fluid usage annually and accelerating adoption for distillation efficiency.

✦ Energy transition policies spurred USD 400 billion in renewable investments by 2025, prioritizing high-stability thermic fluids that align with DOE solar incentives and emission caps.

✦ North American food processing revenues grew 12% recently, deploying more than 150 million liters of food-safe fluids yearly as supply chain resilience boosts packaged goods.

✦ Formulation advancements lowered degradation rates by 25%, forecasting USD 200 million in annual maintenance savings for U.S. operators by 2030 through synthetic upgrades.

Market Segmentation Analysis

By Type: The thermic fluid market is segmented into Mineral Oil, Synthetic, and Glycol-based, with Mineral Oil leading at 50% share (USD 1.25 billion in 2023), projected to USD 1.75 billion by 2031 at 4.3% CAGR for cost-effective refining uses. Synthetic holds USD 750 million, growing to USD 1.05 billion at 4.2% CAGR via high-temperature solar applications. Glycol-based at 25% (USD 625 million) will reach USD 875 million, while Others (25%, USD 625 million) hit USD 875 million at 4.1% CAGR.

By Application: Oil & Gas dominates with 55% share (USD 1.375 billion in 2023), expected to reach USD 1.925 billion by 2031 for upstream heating. Chemicals at 25% (USD 625 million) projects to USD 875 million, supporting reaction controls. Food & Beverages (10%, USD 250 million) grows fastest at 4.6% CAGR to USD 350 million, enabling sanitary processing.

By End-User: Petrochemicals lead at 45% (USD 1.125 billion in 2023), growing to USD 1.575 billion by 2031 via distillation demands. Renewables at 20% (USD 500 million) reach USD 700 million for CSP integration. Pharmaceuticals (15%, USD 375 million) advance sterile heating; Others (20%, USD 500 million) expand for manufacturing versatility.

🌍Regional Insights

United States: The U.S. market was valued at USD 2.5 billion in 2023, projected to USD 3.5 billion by 2031 at a 4.5% CAGR, driven by refining dominance and solar incentives under DOE's clean energy guidelines. Over 60% of operators have adopted synthetic fluids since 2023 for reliability in 5,000+ facilities.

Canada: Canada's market, at USD 0.4 billion in 2023, grows to USD 0.56 billion by 2031 at a 4.5% CAGR, backed by Natural Resources Canada's CAD 2 billion for industrial efficiency. ExxonMobil pilots arctic-grade fluids; sector predicts 22% adoption rise and 14% savings by 2027 through optimised systems.

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Market Outlook and Opportunities: The Global Thermic fluid market is at a tipping point, driven by efficiency mandates and every ounce of material science evolution in thermal management. Valued at USD 11 billion in 2023, it is projected to reach USD 15 billion by 2031 at a steady 4.2% CAGR. North America, commanding over 25% of the global share, spearheads expansion powered by petrochemical strength, while the Asia Pacific benefits from manufacturing booms. Advances in bio-based and hybrid fluids align with EPA sustainability goals, although hurdles like volatility in crude prices, regulatory scrutiny, and alternative heating tech persist. Post-pandemic industrial rebound and rising integration of AI for fluid monitoring unlock vast potential for process optimisation and green transitions in oil & gas, chemicals, and renewables sectors.

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