Latest Report On Thermic Fluids Market By Grand View Research Suggest Market Growth At 6.1% CAGR To 2020

Grand View Research, Inc. – Market Research And Consulting. has announced the addition of “Global Thermic Fluids Market Analysis And Segment Forecasts To 2020” Market Research report to their Database

Thermic fluids maintain the temperature of processing machines in industries. They carry heat energy generated during the process. Thermic fluids are extensively utilized in pharmaceuticals; plastics; food & beverages; chemicals; oil & gas; heating, ventilation, air conditioning (HVAC); and concentrated solar power (CSP).

Thermic fluids market volumes were 471 kilo tons in 2013. They would grow at a CAGR of 6.1% from 2014 to 2020 (forecast period). By 2020, the market could reach around USD 3.5 billion. Thermic fluids experience maximum demand from CSP applications. They improve the efficiency of CSP plants. These fluids even assist in heat storage, enabling CSP plants to produce electricity on cloudy days & after sunsets.

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Demand for renewable energy triggers CSP growth. CSP enjoys greater competitive advantage over other renewable energy sources. This prompts higher investments in Spain and the U.S. Spain’s CSP capacity was 2.3 GW in 2013.These developments prove beneficial for the thermic fluids market.

The market can be classified into products, applications, and geographies. Product segments include aromatics, silicones, mineral oils, glycol (ethylene & propylene), and others. ‘Others’ comprise molten salts and HFPE.

Mineral oils, with 42% volumes, were the leading product in 2013. Aromatics stood second that year. Glycol will be the fastest growing product (CAGR of 8%) over the next six years. It is ideal for low temperature (up to -50° C) applications.

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Applications of the thermic fluids market consist of chemicals, plastics, oil & gas, pharmaceuticals, food & beverages, HVAC, Concentrated Solar Power (CSP), and others. ‘Others’ includes biodiesel, transport, waste heat recovery, etc. Oil & gas was the leader (in terms of volumes) in 2013. It was followed by CSP. CSP should grow at a CAGR of 8.4% and record the fastest expansion during the forecast period.

Geographical segmentation comprises Europe, Asia Pacific, North America, and Rest of the World (RoW). Europe dominated the market in 2013. Asia Pacific can grow at the fastest rate owing to end-users in India & China. The worldwide thermic fluids market is greatly concentrated. Its dominating players are ExxonMobil, Dow Chemical Company, Shell Chemicals, and Solutia Inc. These held more than 59% shares in 2013. 

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.


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