Insights on the Thermic Fluid Global Market to 2026 - Featuring Dynalene, Eastman Chemical and Exxon Mobil Among Others - ResearchAndMarkets.com

DUBLIN--()--The "Thermic Fluid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Thermic Fluid Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).

Key Market Trends

Extensive Demand from the Oil and Gas Sector

  • The extensive use of thermic fluid in the oil and gas industry is increasing incessantly to cater to the rising energy demand.
  • The oil and gas industry carries out major operations, such as oil and gas processing, natural gas purification, refining, gas to a liquid, asphalt processing, and storage, etc., with the use of thermal fluid.
  • Thermic fluids are being used during natural gas processing, mainly at stages including gas sweetening, glycol dehydration, and fractionation train. At the gas sweetening and glycol dehydration stage, the regenerators present there are heated with a boiler, which, in turn, is heated with the help of thermic fluid. Furthermore, at the fractionation train, thermic fluid is used to heat the reboiler, present at each distillation column.
  • According to the BP Statistical Review of World Energy 2020, the global consumption of Natural gas was accounted for 3,929.2 billion cubic meters in 2019, with a growth rate of about 2% compared to the previous year, thereby enhanced the demand for thermic fluid during natural gas processing.
  • Thermic fluids are also used in the refining processes. They are used as a medium for heating reboilers of fractionation units, and others and cooling overhead condensers. According to the BP Statistical Review of World Energy 2020, the total refinery throughput in North America was accounted for 18.98 million barrels per day in 2019, with a decline rate of 1.3% compared to the previous year, which had reduced the demand for thermic fluid from refinery sector.

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global thermic fluid market share. This can be attributed to the presence of a large number of petroleum refining, pharmaceutical, and chemical manufacturing activities in the region.
  • According to the BP Statistical Review of World Energy 2020, the total refinery throughput in the Asia-Pacific region was accounted for 30.30 million barrels per day in 2019, with a growth rate of 2.2% compared to the previous year.
  • Asia-Pacific has also a significant contribution to the production and consumption of natural gas. According to the BP Statistical Review of World Energy 2020, the total consumption of Natural gas in the Asia-Pacific region was accounted for 869.9 billion cubic metres in 2019, with a growth rate of about 4.7% compared to the previous year.
  • Thermic fluid also finds its application in chemical processing and petrochemical manufacturing facilities. Some of the key chemical processing facilities that have heat transfer systems as an integral part of their processes include phthalic anhydride (PA), dimethyl terephthalate (DMT), linear alkylbenzene, terephthalic acid (PTA), olefins, plasticizers, alcohols, and other chemicals processing facilities.
  • According to the India Brand Equity Foundation (IBEF), the Indian chemicals industry was valued at USD 178 billion in 2019 and is expected to reach USD 304 billion by 2025, registering a CAGR of 9.3%. The demand for chemicals is expected to rise by 9% per year by 2025, thereby is expected to enhance the demand for thermic fluid from the Indian chemical industry in the coming years.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Extensive Demand from the Oil and Gas Sector

4.1.2 Increasing Use in Concentrated Solar Power

4.2 Restraints

4.2.1 Fluctuations in Raw Material Prices

4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak

4.3 Industry Value Chain Analysis

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION

5.1 Type

5.2 End-user Industry

5.3 Geography

6 COMPETITIVE LANDSCAPE

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

6.2 Market Share Analysis**/Ranking Analysis

6.3 Strategies Adopted by Leading Players

6.4 Company Profiles

6.4.1 bp p.l.c.

6.4.2 Dow

6.4.3 Dynalene, Inc.

6.4.4 Eastman Chemical Company

6.4.5 Exxon Mobil Corporation

6.4.6 HPCL

6.4.7 MULTITHERM LLC

6.4.8 PARATHERM

6.4.9 Royal Dutch Shell plc

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900