| Product Code: ETC13374079 | Publication Date: Apr 2025 | Updated Date: Jul 2025 | Product Type: Market Research Report | |
| Publisher: 6Wresearch | Author: Bhawna Singh | No. of Pages: 190 | No. of Figures: 80 | No. of Tables: 40 |
According to 6Wresearch internal database and industry insights, the Global Thermic Fluid Market was valued at USD 3.3 Billion in 2024 and is expected to reach USD 4.7 Billion by 2031, growing at a compound annual growth rate of 5.70% during the forecast period (2025-2031).
The global thermic fluid market is experiencing steady growth, driven by increasing demand for energy-efficient heat transfer fluids across various industries such as chemical, oil & gas, food & beverage, and concentrated solar power. Thermic fluids offer benefits such as high thermal stability, low maintenance, and better heat transfer efficiency, thus making them essential for industrial processes. The market is also witnessing a surge in adoption of bio-based and synthetic thermic fluids due to environmental concerns and regulatory requirements. Asia-Pacific region is poised to dominate the market due to rapid industrialization and expanding manufacturing sector. Key players in the global thermic fluid market include DowDuPont, Eastman Chemical Company, Exxon Mobil Corporation, and Royal Dutch Shell, focusing on product innovations and strategic partnerships to maintain their competitive edge.
The Global Thermic Fluid Market is experiencing significant growth driven by the increasing demand from various industries such as chemical, oil & gas, and food processing. The market is seeing a shift towards bio-based thermic fluids due to growing environmental concerns and stringent regulations on emissions. Additionally, the adoption of advanced technologies like heat transfer fluids with enhanced thermal stability and efficiency is gaining traction in the market. Opportunities lie in the development of high-performance thermic fluids that can operate under extreme conditions, as well as expanding into emerging markets with rising industrial activities. Overall, the Global Thermic Fluid Market is poised for continued growth as industries focus on improving energy efficiency and reducing operational costs.
The Global Thermic Fluid Market faces several challenges, including increasing concerns about environmental sustainability and regulations regarding the use of certain types of thermic fluids. The market also experiences volatility in raw material prices, which can impact production costs and pricing strategies. Additionally, technological advancements and the introduction of alternative heating technologies pose a threat to the traditional thermic fluid market. Competition from substitute products such as electric heating systems further adds to the challenges faced by the industry. Companies operating in this market need to innovate constantly, adhere to stringent regulations, and focus on sustainability to overcome these challenges and maintain a competitive edge in the global thermic fluid market.
The Global Thermic Fluid Market is primarily driven by the increasing industrialization across various sectors such as food and beverage, chemicals, and oil and gas, leading to a rising demand for efficient energy transfer and heat exchange systems. Additionally, the growing emphasis on energy efficiency and sustainable practices in manufacturing processes is fueling the adoption of thermic fluids as they help in maintaining consistent temperatures and reducing energy consumption. Moreover, the expansion of the solar power and biomass energy sectors is expected to further boost the demand for thermic fluids as they are vital for heat transfer in renewable energy systems. Technological advancements in thermic fluid formulations to enhance their thermal stability and operational efficiency are also contributing to the market growth.
Government policies related to the Global Thermic Fluid Market primarily focus on regulations regarding the use and disposal of thermic fluids to ensure environmental safety and sustainability. Many countries have established standards for the manufacturing, handling, and storage of thermic fluids to minimize environmental impact and protect public health. Additionally, there are emissions standards in place to regulate the release of pollutants from thermic fluid systems. Some governments also offer incentives for companies to adopt more energy-efficient and environmentally friendly thermic fluid systems, such as tax credits or grants for investing in renewable energy sources. Overall, government policies seek to promote responsible use of thermic fluids and encourage the adoption of sustainable practices in the Global Thermic Fluid Market.
The Global Thermic Fluid Market is expected to witness significant growth in the coming years due to increasing industrialization across various sectors such as chemical, oil & gas, food & beverage, and pharmaceuticals. The rising demand for energy-efficient heat transfer solutions, coupled with strict regulations on reducing carbon emissions, is driving the adoption of thermic fluids. Additionally, advancements in technology leading to the development of high-performance thermic fluids with improved thermal stability and efficiency are further fueling market growth. Emerging economies in Asia-Pacific and Latin America are projected to offer lucrative opportunities for market expansion. However, fluctuating raw material prices and the availability of substitutes may pose challenges to the market`s growth. Overall, the Global Thermic Fluid Market is poised for steady growth in the foreseeable future.
The global thermic fluid market is witnessing significant growth across various regions. In Asia, particularly in countries like China and India, the increasing industrialization and demand for energy-efficient systems are driving the adoption of thermic fluids. In North America, the focus on sustainability and strict regulations related to emissions are boosting the market growth. Europe is also a key market for thermic fluids due to the presence of stringent environmental regulations and the growing emphasis on renewable energy sources. In the Middle East and Africa region, the expansion of the industrial sector and the increasing investments in infrastructure projects are fueling the demand for thermic fluids. Latin America is also witnessing growth in the market, driven by the rising demand from industries such as chemicals, oil & gas, and food processing.
Global Thermic Fluid Market |
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Global Thermic Fluid Market Overview |
3.1 Global Regional Macro Economic Indicators |
3.2 Global Thermic Fluid Market Revenues & Volume, 2021 & 2031F |
3.3 Global Thermic Fluid Market - Industry Life Cycle |
3.4 Global Thermic Fluid Market - Porter's Five Forces |
3.5 Global Thermic Fluid Market Revenues & Volume Share, By Regions, 2021 & 2031F |
3.6 Global Thermic Fluid Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.7 Global Thermic Fluid Market Revenues & Volume Share, By Material, 2021 & 2031F |
3.8 Global Thermic Fluid Market Revenues & Volume Share, By Application, 2021 & 2031F |
3.9 Global Thermic Fluid Market Revenues & Volume Share, By End User, 2021 & 2031F |
4 Global Thermic Fluid Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Global Thermic Fluid Market Trends |
6 Global Thermic Fluid Market, 2021 - 2031 |
6.1 Global Thermic Fluid Market, Revenues & Volume, By Type, 2021 - 2031 |
6.1.1 Overview & Analysis |
6.1.2 Global Thermic Fluid Market, Revenues & Volume, By Mineral Oils, 2021 - 2031 |
6.1.3 Global Thermic Fluid Market, Revenues & Volume, By Synthetic Fluids, 2021 - 2031 |
6.1.4 Global Thermic Fluid Market, Revenues & Volume, By Glycol-based Fluids, 2021 - 2031 |
6.1.5 Global Thermic Fluid Market, Revenues & Volume, By Aromatic Fluids, 2021 - 2031 |
6.1.6 Global Thermic Fluid Market, Revenues & Volume, By Others, 2021 - 2031 |
6.2 Global Thermic Fluid Market, Revenues & Volume, By Material, 2021 - 2031 |
6.2.1 Overview & Analysis |
6.2.2 Global Thermic Fluid Market, Revenues & Volume, By Hydrocarbon-based, 2021 - 2031 |
6.2.3 Global Thermic Fluid Market, Revenues & Volume, By Silicon-based, 2021 - 2031 |
6.2.4 Global Thermic Fluid Market, Revenues & Volume, By Water-soluble, 2021 - 2031 |
6.2.5 Global Thermic Fluid Market, Revenues & Volume, By Polymer-based, 2021 - 2031 |
6.3 Global Thermic Fluid Market, Revenues & Volume, By Application, 2021 - 2031 |
6.3.1 Overview & Analysis |
6.3.2 Global Thermic Fluid Market, Revenues & Volume, By Industrial Heating, 2021 - 2031 |
6.3.3 Global Thermic Fluid Market, Revenues & Volume, By Power Generation, 2021 - 2031 |
6.3.4 Global Thermic Fluid Market, Revenues & Volume, By Chemical Processing, 2021 - 2031 |
6.3.5 Global Thermic Fluid Market, Revenues & Volume, By Oil & Gas Refining, 2021 - 2031 |
6.3.6 Global Thermic Fluid Market, Revenues & Volume, By HVAC Systems, 2021 - 2031 |
6.4 Global Thermic Fluid Market, Revenues & Volume, By End User, 2021 - 2031 |
6.4.1 Overview & Analysis |
6.4.2 Global Thermic Fluid Market, Revenues & Volume, By Manufacturing, 2021 - 2031 |
6.4.3 Global Thermic Fluid Market, Revenues & Volume, By Energy, 2021 - 2031 |
6.4.4 Global Thermic Fluid Market, Revenues & Volume, By Chemicals, 2021 - 2031 |
6.4.5 Global Thermic Fluid Market, Revenues & Volume, By Oil & Gas, 2021 - 2031 |
6.4.6 Global Thermic Fluid Market, Revenues & Volume, By Construction, 2021 - 2031 |
7 North America Thermic Fluid Market, Overview & Analysis |
7.1 North America Thermic Fluid Market Revenues & Volume, 2021 - 2031 |
7.2 North America Thermic Fluid Market, Revenues & Volume, By Countries, 2021 - 2031 |
7.2.1 United States (US) Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
7.2.2 Canada Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
7.2.3 Rest of North America Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
7.3 North America Thermic Fluid Market, Revenues & Volume, By Type, 2021 - 2031 |
7.4 North America Thermic Fluid Market, Revenues & Volume, By Material, 2021 - 2031 |
7.5 North America Thermic Fluid Market, Revenues & Volume, By Application, 2021 - 2031 |
7.6 North America Thermic Fluid Market, Revenues & Volume, By End User, 2021 - 2031 |
8 Latin America (LATAM) Thermic Fluid Market, Overview & Analysis |
8.1 Latin America (LATAM) Thermic Fluid Market Revenues & Volume, 2021 - 2031 |
8.2 Latin America (LATAM) Thermic Fluid Market, Revenues & Volume, By Countries, 2021 - 2031 |
8.2.1 Brazil Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
8.2.2 Mexico Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
8.2.3 Argentina Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
8.2.4 Rest of LATAM Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
8.3 Latin America (LATAM) Thermic Fluid Market, Revenues & Volume, By Type, 2021 - 2031 |
8.4 Latin America (LATAM) Thermic Fluid Market, Revenues & Volume, By Material, 2021 - 2031 |
8.5 Latin America (LATAM) Thermic Fluid Market, Revenues & Volume, By Application, 2021 - 2031 |
8.6 Latin America (LATAM) Thermic Fluid Market, Revenues & Volume, By End User, 2021 - 2031 |
9 Asia Thermic Fluid Market, Overview & Analysis |
9.1 Asia Thermic Fluid Market Revenues & Volume, 2021 - 2031 |
9.2 Asia Thermic Fluid Market, Revenues & Volume, By Countries, 2021 - 2031 |
9.2.1 India Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
9.2.2 China Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
9.2.3 Japan Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
9.2.4 Rest of Asia Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
9.3 Asia Thermic Fluid Market, Revenues & Volume, By Type, 2021 - 2031 |
9.4 Asia Thermic Fluid Market, Revenues & Volume, By Material, 2021 - 2031 |
9.5 Asia Thermic Fluid Market, Revenues & Volume, By Application, 2021 - 2031 |
9.6 Asia Thermic Fluid Market, Revenues & Volume, By End User, 2021 - 2031 |
10 Africa Thermic Fluid Market, Overview & Analysis |
10.1 Africa Thermic Fluid Market Revenues & Volume, 2021 - 2031 |
10.2 Africa Thermic Fluid Market, Revenues & Volume, By Countries, 2021 - 2031 |
10.2.1 South Africa Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
10.2.2 Egypt Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
10.2.3 Nigeria Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
10.2.4 Rest of Africa Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
10.3 Africa Thermic Fluid Market, Revenues & Volume, By Type, 2021 - 2031 |
10.4 Africa Thermic Fluid Market, Revenues & Volume, By Material, 2021 - 2031 |
10.5 Africa Thermic Fluid Market, Revenues & Volume, By Application, 2021 - 2031 |
10.6 Africa Thermic Fluid Market, Revenues & Volume, By End User, 2021 - 2031 |
11 Europe Thermic Fluid Market, Overview & Analysis |
11.1 Europe Thermic Fluid Market Revenues & Volume, 2021 - 2031 |
11.2 Europe Thermic Fluid Market, Revenues & Volume, By Countries, 2021 - 2031 |
11.2.1 United Kingdom Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
11.2.2 Germany Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
11.2.3 France Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
11.2.4 Rest of Europe Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
11.3 Europe Thermic Fluid Market, Revenues & Volume, By Type, 2021 - 2031 |
11.4 Europe Thermic Fluid Market, Revenues & Volume, By Material, 2021 - 2031 |
11.5 Europe Thermic Fluid Market, Revenues & Volume, By Application, 2021 - 2031 |
11.6 Europe Thermic Fluid Market, Revenues & Volume, By End User, 2021 - 2031 |
12 Middle East Thermic Fluid Market, Overview & Analysis |
12.1 Middle East Thermic Fluid Market Revenues & Volume, 2021 - 2031 |
12.2 Middle East Thermic Fluid Market, Revenues & Volume, By Countries, 2021 - 2031 |
12.2.1 Saudi Arabia Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
12.2.2 UAE Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
12.2.3 Turkey Thermic Fluid Market, Revenues & Volume, 2021 - 2031 |
12.3 Middle East Thermic Fluid Market, Revenues & Volume, By Type, 2021 - 2031 |
12.4 Middle East Thermic Fluid Market, Revenues & Volume, By Material, 2021 - 2031 |
12.5 Middle East Thermic Fluid Market, Revenues & Volume, By Application, 2021 - 2031 |
12.6 Middle East Thermic Fluid Market, Revenues & Volume, By End User, 2021 - 2031 |
13 Global Thermic Fluid Market Key Performance Indicators |
14 Global Thermic Fluid Market - Export/Import By Countries Assessment |
15 Global Thermic Fluid Market - Opportunity Assessment |
15.1 Global Thermic Fluid Market Opportunity Assessment, By Countries, 2021 & 2031F |
15.2 Global Thermic Fluid Market Opportunity Assessment, By Type, 2021 & 2031F |
15.3 Global Thermic Fluid Market Opportunity Assessment, By Material, 2021 & 2031F |
15.4 Global Thermic Fluid Market Opportunity Assessment, By Application, 2021 & 2031F |
15.5 Global Thermic Fluid Market Opportunity Assessment, By End User, 2021 & 2031F |
16 Global Thermic Fluid Market - Competitive Landscape |
16.1 Global Thermic Fluid Market Revenue Share, By Companies, 2024 |
16.2 Global Thermic Fluid Market Competitive Benchmarking, By Operating and Technical Parameters |
17 Top 10 Company Profiles |
18 Recommendations |
19 Disclaimer |
Export potential enables firms to identify high-growth global markets with greater confidence by combining advanced trade intelligence with a structured quantitative methodology. The framework analyzes emerging demand trends and country-level import patterns while integrating macroeconomic and trade datasets such as GDP and population forecasts, bilateral import–export flows, tariff structures, elasticity differentials between developed and developing economies, geographic distance, and import demand projections. Using weighted trade values from 2020–2024 as the base period to project country-to-country export potential for 2030, these inputs are operationalized through calculated drivers such as gravity model parameters, tariff impact factors, and projected GDP per-capita growth. Through an analysis of hidden potentials, demand hotspots, and market conditions that are most favorable to success, this method enables firms to focus on target countries, maximize returns, and global expansion with data, backed by accuracy.
By factoring in the projected importer demand gap that is currently unmet and could be potential opportunity, it identifies the potential for the Exporter (Country) among 190 countries, against the general trade analysis, which identifies the biggest importer or exporter.
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