Selbyville, Delaware As per a report compiled by Global Market Insights, Inc., global thermic fluids market size is estimated to be worth more than US$4 billion by 2025, with robust demand for food-grade thermal fluids and growing deployment of solar energy.
Thermic fluids, also known as thermal fluids or heat transfer fluids, are designed to move fast and ensure maximum heat transfer at high temperatures. These fluids have gained considerable traction as a heat transfer medium of great versatility which can cover the specific requirements of a wide range of industries where high temperatures are needed. Food & beverage concentrated solar power (CSP), oil & gas, pharmaceuticals, chemical, plastics, and HVAC are among the major end-users of heat transfer fluids.
In the food processing industry, heat transfer is required for a number of process, such as cooking, freezing, or sterilizing. Quality control, safety, and efficient maintenance are among the top priorities for manufacturers in today’s rapidly expanding food and beverage sector, which is also a highly regulated industry. The use of food-grade thermic fluids in different food processing applications helps tackle many of these challenges while complying with regulatory standards.
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Wide use of food-grade thermic fluids
Recent developments suggest that using food-grade heat transfer fluids in indirectly heated baking ovens can offer significant improvements in terms of quality of the finished product. In addition to quality, its ecofriendly properties and improved human and plant safety are among other advantages of thermal fluids.
Thermic fluids offer consistent radiant heating and more precise control during baking, while minimizing temperature fluctuations in the oven. This offers manufacturers better quality control and a higher yield, while reducing waste. Some key improvements in the finished product quality may include less loss of moisture, improved top and bottom crust, and better final weight of the product, among others.
Thermic fluid manufacturers are consistently exploring collaboration strategies to expand their local as well as global presence. For instance, Paratherm had partnered with numerous equipment innovators over the years to design indirectly heated solutions of today that are gradually replacing direct heating in many processing lines. The company’s proprietary Paratherm NF thermal fluids market is a leading choice for myriad food processing companies for several decades.
Growing deployment of solar energy
Solar thermal collectors, which form an essential part of a concentrated solar power (CSP) plant, are rapidly emerging as an innovative mode of harnessing solar energy for the generation of alternate energy. Thermal fluids market are prominently used to transfer and maximize the solar heat collected. A positive outlook towards large-scale adoption of solar energy is likely to accelerate the demand for heat transfer fluids.
The past several years have witnessed growing deployment of solar power both in residential and commercial establishments. Recent numbers suggest that there is currently sufficient solar capacity to power more than 13 million homes across the U.S. The amount is estimated to double over the course of the next five years.
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Climate change is not a personal matter anymore, but a global concern that needs to be tackled immediately. Respective governments and regulatory bodies are joining forces and taking necessary measures to tighten environmental policies and alleviate the aftereffects of climate change, which will positively influence thermic fluids industry forecast.
Some key growth restraining factors
Since crude oil is the basic raw material for the production of thermal fluids, fluctuations in crude oil prices is likely to have a direct impact on the product demand. Moreover, properties such as low viscosity and high density which make these fluids a better heat transfer media also make them prone to leakage. Despite of these factors, a positive application in myriad industry verticals will augment thermic fluids market trends.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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