Thermic Fluids Market is estimated to experience considerable growth over 2019 – 2025
Category: #business  By Ashwin Naphade  Date: 2019-09-14
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Thermic Fluids Market is estimated to experience considerable growth over 2019 – 2025

Concentrated solar power plants offer various advantages such as storing the energy that can be used when clouds block the sun or after sunset in order to produce electricity. These plants have six hours storage capacity which can add the operational value of around USD 35 megawatt per hour as compared to photovoltaics. This in turn will bolster the entire thermic fluids market demand by 2025.

Food & beverage application segment will be valued over USD 600 million in 2025. Various industries such as breweries, wineries, dairies and the food processing industry require thermic fluids in different processes. Application of thermic fluids is expected to increase with increasing availability of food grade thermic fluids.

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Significant growth in concentrated solar power generation in most of the Asian countries due to increasing demand for electricity across the region. This will subsequently spur the thermic fluids demand in forecast period. Thermal fluids play a crucial role in improving efficiency of CSP plants owing to its excellent heat storage property which increases the electricity generation capacity of the plant.

Thermic Fluids Market, by Application:

  • Oil & gas
  • Chemical industry
  • Concentrates solar power (CSP)
  • Food & beverage
  • Plastics
  • Pharmaceuticals
  • Heating, ventilation & air conditioning (HVAC)
  • Others

Important pointers encompassed pertaining to the Application spectrum:

  • Substantial details about the Application spectrum are provided in the report.
  • The study mentions about the valuation estimate of each of the Application categories in detail, by the end of the forecast period.
  • The market share that each of the Application segments account are mentioned in the study.
  • The trends that the Application landscape is defined by are also contained in the report.

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Major players in the thermic fluids market are now focusing on developing thermic fluids especially for thermal storage at CSP plants. In addition, manufacturers are entering into mergers and acquisitions to develop solar thermic fluids, which are expected to be major future requirements. Few of them are:

  • Kost
  • Royal Dutch Shell
  • Exxon Mobil
  • Dow Chemical Company
  • Dynalene
  • Hindustan Petroleum
  • Multitherm
  • BASF
  • Paratherm Corporation
  • Tulstar Products

Thermic Fluids Market in the Europe will clutch over 30% of the volume share in forecasted timeframe and is anticipated to witness a moderate growth. Increasing number of CSP plants, especially in Spain, is expected to drive the entire regional thermic fluids market demand by 2025. Surge in application and technological advancements in thermic fluids is expected to drive the industry growth in Europe.

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About Author

Ashwin Naphade    

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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