India Thermic Fluids Market, By Type (Mineral Oil, Water (Under Pressure), PAG and Glycols-based Fluids, Steam (Saturated and Superheated), Molten Salt and Others), Source (Oxidation and Thermal Cracking), Application (Crude Oil Extraction and Processing Industries, Natural Gas Processing Plants, Metal Fabrication and Finishing Plants, Food Processing Industries, Rubber and Plastic Industries, Paper Industries, Printing Industries, Textile Industries, Chemical Industries, Automobile, Pharmaceuticals, Building Materials, Plywood and Laminates, Others) – Industry Trends and Forecast to 2030.
India Thermic Fluids Market Analysis and Size
Thermic fluids are specially designed heat transfer fluids used in various industrial applications. They have high thermal stability and low viscosity that allows efficient heat transfer between different components and processes. Thermic fluids are essential in systems where high temperatures are involved, as they help maintain consistent and controlled heat levels.
Data Bridge Market Research analyses that the thermic fluids market which was USD 423.21 million in 2022, would rocket up to USD 1,018.28 million by 2030, and is expected to undergo a CAGR of 11.60% during the forecast period of 2023 to 2030.
“Mineral oil” dominates the type segment of the India thermic fluids market as they have been widely used in various industries due to their excellent thermal stability, low cost, and availability. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
India Thermic Fluids Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Tons, Pricing in USD
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Segments Covered
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Type (Mineral Oil, Water (Under Pressure), PAG and Glycols-based Fluids, Steam (Saturated and Superheated), Molten Salt and Others), Source (Oxidation and Thermal Cracking), Application (Crude Oil Extraction and Processing Industries, Natural Gas Processing Plants, Metal Fabrication and Finishing Plants, Food Processing Industries, Rubber and Plastic Industries, Paper Industries, Printing Industries, Textile Industries, Chemical Industries, Automobile, Pharmaceuticals, Building Materials, Plywood and Laminates, Others)
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Countries Covered
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India
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Market Players Covered
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Bharat Petroleum Corporation Limited (India), Chevron Corporation (U.S.), Indian Oil Corporation Limited (India), Exxon Mobil Corporation (U.S.), HP Lubricants (India), Dow (U.S.), Eastman Chemical Company (U.S.), Huntsman International LLC (U.S.), Paras Lubricants Ltd (India), and Thermotech Systems Ltd (India).
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Market Opportunities
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Market Definition
The thermal fluids market refers to the industry focused on the production, distribution, and use of specialized fluids designed for efficient heat transfer in various industrial processes and applications. These fluids, also known as heat transfer fluids or thermic fluids, play a crucial role in maintaining precise and controlled temperatures in diverse sectors such as chemicals, oil and gas, food processing, pharmaceuticals, power generation, and renewable energy. Thermal fluids are engineered to possess high thermal stability, low viscosity, and excellent heat transfer properties, enabling the efficient transfer of thermal energy between different components and systems.
India Thermic Fluids Market Dynamics
Drivers:
- Expanding industrial growth: The growth of the industrial sector in India through industries such as chemicals, oil and gas, food processing, and pharmaceuticals drives the demand for thermic fluids for the maintenance of optimum temperature during industrial processes.
- Growing focus on the renewable energy sector: The growth of the renewable energy sector, such as solar thermal power plants, creates opportunities for thermic fluids used in concentrated solar power systems, which capture and store thermal energy for electricity generation.
Restraints:
- Limited awareness among industries: There has been a lack of awareness about the advantages and applications regarding the usage of thermic fluids among end-users industries, which may restrain the growth of the market.
Opportunities
- Increasing technological advancements: Research and development focus on developing advanced thermic fluid formulations that have improved thermal stability, extended fluid life, and enhanced performance, opening new opportunities for market growth.
Challenges
- Environmental concerns: Thermic fluids have potential hazards and environmental concerns that may require manufacturers to shift towards safer alternatives which act as a challenge for the market growth.
This thermic fluids market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market to gain more info on the thermic fluids market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- In November 2022, Total Energies Marketing India, a subsidiary of Total Energies. The company has introduced 'Quartz EV Fluid' for cars and 'Hi-Perf EV Fluid' for two-wheelers, specifically designed for drivetrain reducers, e-motors, e-transmissions, and batteries in electric and hybrid vehicles.
India Thermic Fluids Market Scope
The thermic fluids market is segmented on the basis of type, source, and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Mineral Oil
- Water (Under Pressure)
- PAG and Glycols-based Fluids
- Steam (Saturated and Superheated)
- Molten Salt
- Others
Source
- Oxidation
- Thermal Cracking
Application
- Crude Oil Extraction and Processing Industries
- Natural Gas Processing Plants
- Metal Fabrication and Finishing Plants
- Food Processing Industries
- Rubber and Plastic Industries
- Paper Industries
- Printing Industries
- Textile Industries
- Chemical Industries
- Automobile
- Pharmaceuticals
- Building Materials
- Plywood and Laminates
- Others
Competitive Landscape and India Thermic Fluids Market Share Analysis
The thermic fluids market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, application dominance. The above data points provided are only related to the companies' focus related to the thermic fluids market.
Some of the major players operating in the thermic fluids market are:
- Bharat Petroleum Corporation Limited (India)
- Chevron Corporation (U.S.)
- Indian Oil Corporation Limited (India)
- Exxon Mobil Corporation (U.S.)
- HP Lubricants (India)
- Dow (U.S.)
- Eastman Chemical Company (U.S.)
- Huntsman International LLC (U.S.)
- Paras Lubricants Ltd (India)
- Thermotech Systems Ltd (India)
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