Global Thermic Fluids Market Overview:
Thermic Fluids are primarily heat-stable liquids that are used to indirectly transfer thermal energy. They can be synthesized either from mineral oils or organic-based compounds or completely synthetic. Thermic fluid is highly used in industries such as chemical, oil, and gas industries, but with dynamic change in time, this fluid is increasingly used in Renewable Energy Plants, Food and Beverages industries, and Pharmaceutical Industry. Although because the thermic fluids are made from crude oil, volatility in the international crude oil prices can act as a hindrance to the producers of the Thermic Fluids. Geographically, Asia Pacific is currently the largest market which is not going to change anywhere soon fuelled by rapid industrialization in the region. Some of the players profiled in the study are Eastman Chemical Company (United States), Dow Chemical Company (United States), ExxonMobil Corporation (United States), Royal Dutch Shell Plc (Netherlands), Solutia Inc. (United States), BP plc (United Kingdom), Chevron Corporation (United States), BASF SE (Germany), Huntsman Corporation (United States) and Kost USA Inc. (United States).
On the basis of geography, the market of Thermic Fluids has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channels, the sub-segment i.e. Online will boost the Thermic Fluids market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Growing Demand in Pharmaceutical Industry, Majorly in the Pandemic Situation
- Enhanced Focus on Renewable Energy such as Concentrated Solar Power Plants
- Increase Investment in Research and Development
- Instability in the Crude Oil Prices as Crude is the Principal Component in the Manufacturing of Thermic Fluids
- The Asia Pacific has Tremendous Potential to Grow Even Further, Because of Rapid Industrialisation in the Asia Pacific
- Longer Shelf Life of Synthetic Fluid makes them Expensive than Other Fluid Types
In 2019, Eastman Chemical Company, one of the industry leaders in chemicals and thermic fluids has announced the acquisition of Marlotherm heat transfer fluids Intellectual Property Rights, its Germany-based Assets, and related formulations from Sasol Ltd. The acquisition will enable Eastman Chemical Company to expand its product portfolio in thermic fluids, expand its capacity, and better serve its customers around the world.
Thermic Fluids otherwise known as heat transfer fluids are a growing market primarily fuelled by the growth of its end-user industries. Recent Events such as Paris Climate Accord have accelerated the investments in renewable energy such as solar concentrated power plants, similarly, the recent pandemic has also led to acceleration in Pharmaceutical Industry as well as Food and Beverages industry. Major Players in this industry are Eastman Chemical Company, Dow Chemical Company, and ExxonMobil Corporation.
Major Objectives Focused through this Study To define, describe, and forecast the Global Thermic Fluids market on the basis of product [Synthetic Fluids, Mineral Oils and Others] , application [Food and Beverages, Pharmaceutical, Renewable Energy, Automotive, Chemical, Oil and Gas and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Thermic Fluids market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Thermic Fluids industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Dynalene Inc. (United States), Bharat Petroleum Corporation Ltd. (India) and Paratherm (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Thermic Fluids market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.