Market Size of India Thermic Fluid Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Volume (2024) | 42.37 kilotons |
| Market Volume (2029) | 54.39 kilotons |
| CAGR (2024 - 2029) | 5.12 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Thermic Fluid Market Analysis
The India Thermic Fluid Market size is estimated at 42.37 kilotons in 2024, and is expected to reach 54.39 kilotons by 2029, growing at a CAGR of 5.12% during the forecast period (2024-2029).
Due to the nationwide lockdown caused by COVID-19, the market suffered in 2020. It influenced several end-user industries, including chemicals, oil, gas, etc. However, the pharmaceutical business saw a surge in demand, primarily due to the increased need for various medications during the epidemic. Nonetheless, the industry picked up speed in the post-pandemic era and is anticipated to keep doing so during the forecast period.
- Over the short term, extensive demand from the oil and gas sector and increasing concentrated solar power usage are expected to drive the market's growth.
- Conversely, the explosion hazards posed by heat thermic fluids (HTFs) will likely hinder the market's growth.
- The high potential for developing bio-based thermic fluids will likely provide a significant growth opportunity for the market studied.
