Global Outlook for Thermic Fluids Market by Key Trends and Analysis 2020

Growing thermic fluid demand from concentrated solar power plants is expected to be a key driving factor for market demand over the next six years. Thermic fluids are used to transfer and store heat utilized for producing electricity. In addition, positive outlook on food and beverages market is also expected to enhance market penetration for food grade thermic fluids.

The Global Thermic Fluids Market is expected to reach USD 3.45 billion by 2020, according to a new study by Grand View Research, Inc.

Mineral oils emerged as the leading product segment in the global market and accounted for 41.7% of the total thermic fluid volume in 2013. Mineral oils were followed by aromatic based thermic fluids, however, glycol based thermic fluids are expected to be the fastest growing product segment, at an estimated CAGR of 7.9% from 2014 to 2020. Increasing Concentrated Solar Power (CSP) capacity, mainly in the U.S. and Spain is expected to boost the demand for thermic fluids for these applications.

Europe continued its dominance in the global market and accounted for 33.9% of total thermic fluid volume in 2013. Asia Pacific is expected to be the fastest growing regional market for thermic fluids, at an estimated CAGR of 6.9% from 2014 to 2020.

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Oil & gas emerged as the leading application market for thermic fluids and accounted for just over 24% of total market volume in 2013. Concentrated solar power is expected to be the fastest growing application market for thermic fluids, at an estimated CAGR of 8.5% from 2014 to 2020.

Market Segmentation of Thermic Fluids Market:

The Global Thermic Fluids Market segmented on the basis of Product, Application and Region.

By Product:

    Mineral Oils
    Aromatics
    Glycol (Ethylene & Propylene)
    Silicones

By Application:

    Oil & Gas
    Chemical Industry
    Concentrated Solar Power (CSP)
    Food & Beverages
    Plastics
    Pharmaceuticals
    HVAC

By Region:

    North America
    Europe
    Asia Pacific
    RoW

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