Thermic Fluid Market – 39% of Growth to Originate from APAC |Driven by Growth of the Concentrated Solar Power Industry | 17000+ Technavio Reports – QNT Press Release

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NEW YORK, April 5, 2022 /PRNewswire/ — The “Thermic Fluid Market by End-user (oil and gas, chemicals, concentrated solar power, food and beverages, and others) and Geography (APAC, Europe, North America, Middle East and Africaand South America) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. 39% of the market’s growth will originate from APAC during the forecast period. China is the key market for thermic fluid in APAC. Market growth in this region will be faster than the growth of the market in other regions. The rising demand for concentrated solar power and increased demand for energy conservation in China, India, Indonesiaand Thailand will facilitate the thermic fluid market growth in APAC over the forecast period.

The potential growth difference for the thermic fluid market between 2021 and 2026 is USD 1.01 billion. To get the exact yearly growth variance and the YOY growth rate, Talk to our analyst.

Key Market Dynamics:

• Market Driver – The key factor driving growth in the thermic fluid market is the growth of the concentrated solar power industry. Growing conservation concerns about emissions and efforts to reduce air pollution are driving the growth of the market. Government policies aimed at reducing the expanding carbon footprint and monetary incentives to encourage the adoption of alternative energy sources are expected to drive the growth of the global thermic fluid market during the forecast period. The Enhanced Oil Recovery (EOR) application category is rapidly growing, and by 2027, it is expected to account for 123.0 MW of capacity. Steam generated by concentrated solar power plants is injected into oil fields for tertiary recovery in this application. The implementation of such technology in crude oil-producing countries will drive the growth of the concentrated solar plant industry. This is significantly increasing the demand for thermic fluids during the forecast period.
• Market Challenges – The fire and explosions hazards will be a major challenge for the thermic fluid market during the forecast period. Several high-temperature chemical processing applications, such as metal processing, plastic processing, and specialty chemical production, necessitate organic fluids, which can form explosive conditions. These fluids work above the flashpoint of thermal fluids that are regulated by the Dangerous Substance and Explosive Atmosphere Regulations (DSEAR) of 2002. Furthermore, fluids, including mineral oils, deteriorate over time. The flashpoint of these fluids is reduced as a result of this deterioration, making them combustible. Under pressure and below the flashpoint, fluids form an explosive mist atmosphere. Thus, the explosion risks posed by thermic fluids are anticipated to limit the growth of the global thermic fluid market.

To learn about additional key drivers, trends, and challenges – Read our FREE Sample Report right now!

Segmentation Analysis

The thermic fluid market report is segmented by End-user (oil and gas, chemicals, concentrated solar power, food and beverages, and others) and Geography (APAC, Europe, North America, Middle East and Africaand South America).

Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the thermic fluid market size and actionable market insights on each segment.

View our sample report for additional insights into the contribution of all the segments

Some Companies Mentioned

The thermic fluid market is fragmented and the vendors are deploying growth strategies such as focusing on R&D activities to develop advanced, high-quality products and strengthen their product offerings to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

• Apar Industries Ltd.
• Arteco Coolants
• BASF SE
• Bharat Petroleum Corp. Ltd.
• The Dow Chemical Co.
• DuBois Chemicals Inc.
• Duratherm Extended Life Fluids
• Dynalene Inc.
• Eastman Chemical Co.
• Exxon Mobil Corp.
• Generation Four Engitech Ltd.
• Globaltherm Lube Pvt. Ltd.
• Lubrex FZC
• Multitherm LLC
• Oil and Natural Gas Corp. Ltd.
• Peter Huber Kaltemaschinenbau AG
• Shell plc
• Schultz Canada Chemicals Ltd.
• The Lubrizol Corp.
• Venlub Petro Products Pvt. Ltd.
• To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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