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

The India Thermic Fluid Market is estimated to be at 40.06 kilotons in 2021 and is expected to register a CAGR of over 4.5% during the forecast period (2022-2027).

The market is negatively impacted by COVID-19 in 2020. Considering the situation, COVID-19 had declared as a pandemic, and the Indian governments had imposed a complete lockdown. Owing to such a scenario, various end-user sectors such as chemicals, oil and gas, etc. got negatively impacted, as the thermic fluid has key applications (as a heat carrier) in the heat transfer systems, employed in these sectors.

Key Market Trends

Rising Demand for Mineral Oil Segment

• Mineral oils, used as a thermic fluid, are petroleum-based fluids produced from distillation cuts from crude oil.
• Mineral oils are isomeric mixtures of paraffin or naphthene-basic hydrocarbons and can be categorized into paraffinic and naphthenic oils. These oils are selected for viscosity, which partly defines heat transfer properties and stability.
• Paraffinic mineral oils hold a higher flash point and a higher boiling point. While on the other hand, naphthenic mineral oils hold better low-temperature characteristics and lower pour points.
• The mineral oils offer better thermal stability at high temperatures, easier disposal and maintenance requirements, and smaller environmental impacts. These also exhibit properties like very low vapor pressure and lower viscosity.
• Mineral oils are the most cost-efficient thermic fluids for supply temperatures up to 290C. Generally, the mineral oils can operate safely in the temperatures of 270C - 315C.
• These thermal mineral oils are used in various industries, such as process, chemical, textile, and household equipment like oil-filled radiators.

Oil and Gas Segment to Dominate the Market

• Heat transfer fluids are widely used in oil and gas processing in the oil and gas industry. Heat transfer systems and fluids find application in all phases of fuel extraction, transportation, refining, and recycling.
• While the oil and gas industry operations are mostly observed in remote and hard-to-reach locations, it stands important to use heat transfer fluids with a high flash point and thermal stability to minimize the risk of explosion. In offshore platforms, thermic fluids are used for facility heating and regeneration of glycols and molecular sieves, which helps remove water from the natural gas produced. In refineries, these fluids are used to heat reboilers of columns for the distillation of oil and oil-based products.
• In natural gas processing, thermic fluids are used in the liquid phase for dehydration, extraction, sweetening, and fractionation stages, which helps control temperature, maintain phase, and heat reboilers.
• Thermic fluids also find application in oil pipelines and pumping stations to control the oil viscosity while moving through the line. Hence, all such applications in oil and gas play an instrumental role in driving the demand for thermic fluids.
• In India, the oil and gas industry is one of the eight core industries. India stands to be a crude oil and gas importing country, with net imports of about 83% of its crude oil and about 47% of natural gas consumption.
• The sector stands conducive for investment owing to government policies supporting the sector's growth with favorable policies. For instance, the government has allowed 100% FDI in various segments of the oil and gas sector, including refineries, natural gas, and petroleum products.
• Investments in the oil and gas industry have already been increasing, which is likely to positively influence the demand for thermic fluid during the forecast period.

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 Explosion Hazards Posed By HTFs (Heat Thermic Fluids)

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

6 COMPETITIVE LANDSCAPE

6.1 Mergers & 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 Bharat Petroleum Corporation Limited

6.4.2 Dow

6.4.3 Eastman Chemical Company

6.4.4 Exxon Mobil Corporation

6.4.5 Global Therm Lube Pvt Ltd

6.4.6 GS Caltex India

6.4.7 Hitech Solution (Generation Four Engitech Ltd)

6.4.8 HP Lubricants

6.4.9 Indian Oil Corporation Ltd

6.4.10 Paras Lubricants Ltd

6.4.11 Royal Dutch Shell

6.4.12 Savita Oil Technologies Limited

6.4.13 Tide Water Oil Co. (India) Ltd

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 High Potential for the Development of Bio-based Thermic Fluids

For more information about this report visit https://www.researchandmarkets.com/r/20ru33

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