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Published Date: 2016-05-18Number of Pages: 195

Thermic Fluids Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024

FDA approval for food grade thermic fluids will boost the thermic fluids market at 7.1% CAGR between 2015 and 2024, states Transparency Market Research (TMR). The advent of concentrated solar power (CSP) as an enabling technology to help deployment of solar photovoltaics on a large-scale is also expected to stir up opportunities for the thermic fluids market globally. While volatility of raw material prices remains a major concern, the market is poised to find lucrative growth opportunities in countries such as China, Japan, and the U.S.

Thermic fluids demonstrate diverse applications across industries such as pharmaceuticals, food and beverages, plastics, chemicals, oil and gas, HVAC (heating, ventilation, and air conditioning), and concentrated solar power. As per TMR analysis, rapid industrialization in emerging economies will prove exceptionally rewarding for the market.

By revenue, the global thermic fluids market stood at US$2.1 bn in 2014 and is expected to reach US$4.17 bn by the end of 2024. In terms of volume the market is exhibit a surge of 5.9% CAGR during the forecast period.

Europe Holds Brightest Prospects for Thermic Fluids

In the last few years, policy makers in Europe have been consciously making efforts for increasing the share of renewable energy in the overall energy mix. A robust increase in the construction of CSP plants is thus noted in the region. Increasing application of thermic fluids for thermal storage across these CSP plants has been fuelling demand from the Europe thermic fluids market.

The region is likely to exhibit significantly rising use of bio-based thermic fluids. Countries such as Portugal, Poland, Greece, and Ireland will prove to be the most lucrative markets for sellers of thermic fluids in Europe. As per TMR, the Europe thermic fluids market is likely report a CAGR of 6.8% from 2016 to 2024.

In terms of volume however, China and the U.S., dominated the global thermic fluids market in 2014. Together, these countries accounted for over 35% of the global market in that year. Prospects for the market in Asia Pacific are also expected to increase considerably in the near future.

 

thermic-fluids-market

 

Oil and Gas Industry to Exhibit Most Attractive Opportunities for Thermic Fluids Market

By end user, the market has been witnessing significant opportunities in the oil and gas industry. The industry led the global thermic fluids market in 2014 and is expected to expand at a robust pace during the forecast period. Oil and gas plants usually work at high temperatures, harnessing energy that are stored in various kinds of thermic fluids available in the market. By revenue, the oil and gas industry stood at US$479.4 mn in 2014.

Besides this, the market has been witnessing rising demand from the chemicals industry as well. By revenue, this end user segment stood at US$254.4 mn in 2014 and is expected to exhibit a CAGR of 6.6% between 2016 and 2024. The concentrated solar power industry emerged as the third-largest end user segment in the market in 2014. However, it is likely to exhibit the fastest CAGR at 8.3% during the forecast period.

Volatility in Crude Oil Prices Puts Negative Pressure on Global Thermic Fluids Market

With industries realizing advantages of thermic fluids over traditional steam systems, the opportunities for the thermic fluids market are expected to bolster in the near future. However, since the production of thermic fluids depends on crude oil, fluctuations reported in their global prices also have a negative impact on the thermic fluid market’s trajectory. Nevertheless, the market is likely to gain from the increasing production of bio-based thermic fluids in the near future.

Some of the prominent companies operating in the global thermic fluids market include BASF SE, Royal Dutch Shell, British Petroleum (BP), Exxon Mobil Corporation, Dow Chemicals, and others. 

Table of Contents

Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Assumptions
1.4 Market Segmentation
1.5 Research Methodology

Chapter 2 Executive Summary
2.1 Global Thermic fluids Market, 2014 - 2024, (Kilo Tons) (US$ Mn)
2.2 Thermic fluids: Market Snapshot 

Chapter 3 Thermic fluids Market - Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Drivers
     3.3.1 Growing Concentrated Solar Power (CSP) Production
     3.3.2 Advantages of Thermal Fluid Systems Over Steam Systems
     3.3.3 FDA Approval for Food Grade Thermic Fluids
3.4 Restraints
     3.4.1 Volatile Raw Material Prices
3.5 Opportunity
     3.5.1 Increase in Production of Bio-based Thermic Fluids
     3.5.2 Growth of Major End-Use Industries In Asia Pacific
3.6 Porter’s Five Forces Analysis
     3.6.1 Bargaining Power of Suppliers
     3.6.2 Bargaining Power of Buyers
     3.6.3 Threat of New Entrants
     3.6.4 Threat of Substitutes
     3.6.5 Degree of Competition
3.7 Global Thermic fluids Market Attractiveness, by End-user, 2014
3.8 Global Thermic fluids Market Attractiveness, by Country, 2014

Chapter 4 Price Trend Analysis
4.4 Global Average Thermic fluids Price Trend, 2014–2024 (US$/Kg)

Chapter 5 Global Thermic fluids Market - Product Segment Analysis
5.2 Global Thermic fluids Market: Product Segment Overview
5.2 Global Thermic fluids Market for Silicone and Aromatic Based Thermic Fluid, 2014–2024 (Kilo Tons) (US$ Mn)
5.3 Global Thermic fluids Market for Mineral Oils Based Thermic Fluid, 2014–2024 (Kilo Tons) (US$ Mn)
5.4 Global Thermic fluids Market for Glycol (Ethylene and Propylene) Based Thermic Fluid, 2014–2024 (Kilo Tons) (US$ Mn)
5.5 Global Thermic fluids Market for Other (Including Molten Salts & HFPE Thermic Fluids, Etc.), 2014–2024 (Kilo Tons) (US$ Mn)

Chapter 6 Global Thermic fluids Market – End-user Analysis
6.1 Global Thermic fluids Market: End-user Overview
6.2 Global Thermic fluids Market for Chemical Industry, 2014–2024 (Kilo Tons) (US$ Mn)
6.3 Global Thermic fluids Market for Concentrated Solar Power (CSP), 2014–2024 (Kilo Tons) (US$ Mn)
6.4 Global Thermic fluids Market for Food and Beverage, 2014–2024 (Kilo Tons) (US$ Mn)
6.5 Global Thermic fluids Market for Plastics, 2014–2024 (Kilo Tons) (US$ Mn)
6.6 Global Thermic fluids Market for Pharmaceuticals, 2014–2024 (Kilo Tons) (US$ Mn)
6.7 Global Thermic fluids Market for Heating, Ventilation and Air Conditioning (HVAC), 2014–2024 (Kilo Tons) (US$ Mn)
6.8 Global Thermic fluids Market for Others (Including Transport, Biodiesel, Waste Heat Recovery, etc.), 2014–2024 (Kilo Tons) (US$ Mn)

Chapter 7 Global Thermic fluids Market - Regional Analysis
7.1 Global Thermic fluids Market: Regional Overview
7.2 North America Thermic fluids Market, 2014 and 2024
     7.2.1 North America Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.2.2 North America Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.2.3 North America Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.2.4 North America Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.2.5 U.S. Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.2.6 U.S. Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.2.7 U.S. Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.2.8 U.S. Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.2.9 Rest of North America Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.2.10 Rest of North America Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.2.11 Rest of North America Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.2.12 Rest of North America Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
7.3 Europe Thermic fluids Market, 2014 and 2024
     7.3.1 Europe Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.3.2 Europe Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.3.3 Europe Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.3.4 Europe Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)     
     7.3.5 France Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.3.6 France Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.3.7 France Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.3.8 France Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.3.9 UK Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.3.10 UK Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.3.11 UK Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.3.12 UK Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.3.13 Spain Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.3.14 Spain Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.3.15 Spain Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.3.16 Spain Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.3.17 Germany Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.3.18 Germany Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.3.19 Germany Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.3.20 Germany Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.3.21 Italy Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.3.22 Italy Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.3.23 Italy Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.3.24 Italy Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.3.25 Rest of Europe Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.3.26 Rest of Europe Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.3.27 Rest of Europe Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.3.28 Rest of Europe Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
7.4 Asia Pacific (APAC) Thermic fluids Market, 2014 and 2024
     7.4.1 Asia Pacific Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.4.2 Asia Pacific Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.4.3 Asia Pacific Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.4.4 Asia Pacific Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.4.5 China Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.4.6 China Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.4.7 China Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.4.8 China Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.4.9 Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.4.10 Japan Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.4.11 Japan Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.4.12 Japan Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.4.21 ASEAN Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.4.22 ASEAN Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.4.23 ASEAN Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.4.24 ASEAN Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.4.25 Rest of APAC Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.4.26 Rest of APAC Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.4.27 Rest of APAC Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.4.28 Rest of APAC Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
7.5 Latin America (LA) Thermic fluids Market, 2014 and 2024
     7.5.1 Latin America Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.5.2 Latin America Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.5.3 Latin America Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.5.4 Latin America Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.5.5 Brazil Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.5.6 Brazil Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.5.7 Brazil Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.5.8 Brazil Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.5.9 Rest of LA Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.5.10 Rest of LA Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.5.11 Rest of LA Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.5.12 Rest of LA Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
7.6 Middle East & Africa (MEA) Thermic fluids Market, 2014 and 2024
     7.6.1 Middle East & Africa Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.6.2 Middle East & Africa Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.6.3 Middle East & Africa Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.6.4 Middle East & Africa Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.6.5 GCC Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.6.6 GCC Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.6.7 GCC Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.6.8 GCC Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.6.9 South Africa Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)     
     7.6.10 South Africa Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.6.11 South Africa Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.6.12 South Africa Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)
     7.6.13 Rest of Middle East & Africa Thermic fluids Market Volume, by Product Segment, 2014–2024 (Kilo Tons)
     7.6.14 Rest of Middle East & Africa Thermic fluids Market Revenue, by Product Segment, 2014–2024 (US$ Mn)
     7.6.15 Rest of Middle East & Africa Thermic fluids Market Volume, by End-user, 2014–2024 (Kilo Tons)
     7.6.16 Rest of Middle East & Africa Thermic fluids Market Revenue, by End-user, 2014–2024 (US$ Mn)

Chapter 8 Company Profiles
8.1 Dow Chemical Company
8.2 Exxon Mobil
8.3 Eastman Chemical Company
8.4 British Petroleum
8.5 Shell
8.6 BASF SE
8.7 Dynalene Inc.
8.8 Paratherm Corporation
8.9 Multitherm LLC.
8.10 Kost U.S.A Inc. 

Chapter 9 Primary Research - Key Findings

Chapter 10 List of Key Customers

This report analyzes and forecasts the market for thermic fluids at the global and regional level. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2016 to 2024. The study includes drivers and restraints of the global thermic fluids market. It also covers the impact of these drivers and restraints on demand for thermic fluids during the forecast period. The report also highlights opportunities in the thermic fluids market at the global and regional level.

The report includes detailed value chain analysis, which provides a comprehensive view of the global thermic fluids market. Porter’s Five Forces Model for the thermic fluids market has also been included to help understand the competitive landscape. The study encompasses market attractiveness analysis, wherein end-use industries are benchmarked based on market size, growth rate, and general attractiveness.

The study provides a critical view of the global thermic fluids market by segmenting it in terms of end-user industries. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for thermic fluids in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for thermic fluids in end-user segments in all the regions.

The study includes profiles of major companies operating in the global thermic fluids market. Key players in the thermic fluids market include The Dow Chemical Company, Exxon Mobil, Eastman Chemical Company, British Petroleum, Shell, BASF SE, Dynalene Inc., Paratherm Corporation, Multitherm LLC, and Kost USA, Inc. Market players are profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.

The report provides the estimated market size of thermic fluids for 2015 and forecast for the next eight years. The global market size of thermic fluids is provided in terms of both volume and revenue. Market numbers are estimated based on end-uses of thermic fluids. Market size and forecast for each major end-use and product are provided in terms of global and regional markets.

In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed the key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.

Secondary research sources that are typically referred to include, but are not limited to are company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva, and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.

Primary research involves e-mail interactions, telephonic interviews, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators to validate data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.

The global thermic fluids market has been segmented as follows:

Thermic Fluids Market - Product Segment Analysis

  • Silicone and Aromatic Based Thermic Fluids
  • Mineral Oils Based Thermic Fluids
  • Glycol (ethylene and propylene) Based Thermic Fluids
  • Others (Including molten salts, HFPE thermic fluids, etc.)

Thermic Fluids Market - End-user Analysis

  • Oil & Gas
  • Chemical
  • Concentrated Solar Power (CSP)
  • Food & Beverages
  • Plastics
  • Pharmaceuticals
  • Heating, Ventilation, and Air Conditioning (HVAC)
  • Others (Including transport, biodiesel, waste heat recovery, etc.)

Thermic Fluids Market - Regional Analysis

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA