Thermic Fluid Market is to Touch $2.75 Billion by 2030; Expansion of the Food and Beverage Industry Increases the Need for Reliable Heating Fluids and A Rise in Data Center Construction Necessitates Effective Cooling Solutions Using Thermic Fluids.

The Thermic Fluid Market size is estimated to reach $2.75  billion by 2030, growing at a CAGR of 4.4% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Thermic Fluid Market – By Type (Mineral oils, Silicone & Aromatics, PAG & Glycol-based Fluids and Others), By Application (Oil & Gas, Chemical, Concentrated Solar Power, Manufacturing Process, Pharmaceuticals, Biodiesel Production and Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”

Growing focus on sustainability and eco-friendly practices boosts the thermic fluid demand and Advancements in thermic fluid formulations improve performance and safety standards are fueling the growth of the Thermic Fluid industry during the forecast period.

Asia Pacific accounted for the largest share of 41% of the Thermic Fluid Market in 2023. Increasing industrialization and the expansion of manufacturing facilities heighten the demand for efficient heat transfer fluids drive the Thermic Fluid market in Asia Pacific. The rising adoption of thermic fluids in the food and beverage, chemical, and pharmaceutical sectors further supports market growth. Additionally, advancements in product formulations enhance performance and safety, while stringent regulations on energy efficiency compel industries to seek innovative thermal solutions. These elements collectively position thermic fluids as essential in various applications.

The growth of the oil and gas sector significantly fuels the demand for high-temperature thermal fluids, essential for efficient operations in various applications. As exploration and production activities intensify, the need for reliable thermal management solutions becomes paramount to enhance energy efficiency and reduce operational costs. High-temperature thermal fluids are critical in refining processes, providing the necessary heat transfer to maintain optimal temperatures and ensure system reliability. Moreover, the increasing focus on sustainability and safety within the industry drives the adoption of advanced thermal fluids that offer improved thermal stability and environmental compliance. This evolving landscape positions high-temperature thermal fluids as vital components in supporting the oil and gas industry's continued evolution.

The automotive industry's transition to electric vehicles is significantly increasing the demand for efficient heat management systems within the thermal fluids market. As electric vehicles generate higher heat levels due to advanced battery technology, effective thermal management is crucial for performance and safety. This shift necessitates the development of innovative thermal fluids that enhance heat dissipation and maintain optimal operating temperatures. Furthermore, the growing emphasis on sustainability and energy efficiency encourages manufacturers to invest in advanced heat management solutions. Consequently, companies that provide high-performance thermal fluids are positioned to capitalize on this evolving market landscape. 

Key companies profiled in the Thermic Fluid Market are Dow Chemical Company, Aramco (Valvoline Inc.), Exxon Mobil, Eastman Chemical Company (Solutia Inc.), British Petroleum (BP), Royal Dutch Shell, Hindustan Petroleum, BASF AG, Dynalene Inc., Multitherm LLC and Others.