Global Immersion Cooling Fluids Market Report 2022: Adoption of Immersion Cooling for EV Batteries

DUBLIN, Oct. 25, 2022 /PRNewswire/ -- The "Immersion Cooling Fluids Market by Type (Mineral oil, Fluorocarbon-based fluids, Synthetic fluids), End Use (Transformers, Data Center, EV batteries, Solar PV), Technology (Single-phase cooling, Two-phase cooling) & Region - Global Forecast to 2027" report has been added to  ResearchAndMarkets.com's offering.

The market size of immersion cooling fluids is estimated to grow from USD 1.7 Billion in 2022 to USD 2.6 Billion by 2027, at a CAGR of 8.1% during the forecast period. The immersion cooling fluids market is expected to grow at a moderate rate over the next five years, owing to rapid technological advancements and expansion in the immersion cooling solutions for transformers, data center and EV battery.

EV Batteries is the fastest growing segment of immersion cooling fluids market by end-use

The immersion cooling fluids market by end-use is segmented into transformer, data center and EV battery. The EV battery segment is estimated to grow at the fastest rate owing to the increase in demand for effective cooling solutions for batteries use in electric vehicles. There are various initiatives taken by government of different countries such as India and China to enhance the demand for effective and power efficient battery used in electric vehicle. This will propel the demand for immersion cooling fluids used in EV batteries, creating the market for immersion cooling fluids.

By type, synthetic fluids segment is expected to grow at the fastest rate during the forecast period

By type, synthetic fluids segment is estimated to grow at the fastest rate in the immersion cooling fluids market, in forecast period, in terms of value. Synthetic fluids are used in end-use such as data center and EV battery. Synthetic fluids are biodegradable and non-toxic and offer high flash and fire points. Owning to increasing demand for efficient and eco-friendly cooling solutions for data center and EV battery, the synthetic fluids segment is expected to grow at the fastest rate during the forecast period.

Asia Pacific has largest market share region for immersion cooling fluids market in 2021

Asia Pacific is one of the major markets for immersion cooling fluids, in terms of value. The region accounted for the largest market for immersion cooling fluids in 2021, and this dominance is expected to continue during the forecast period as well. Key countries in the Asia Pacific immersion cooling fluids market include China, Japan, South Korea, and India, which dominated the region's overall market in terms of value in 2021. The growing demand for immersion cooling solutions for transformer, data center and EV battery in emerging countries of Asia Pacific are expected to drive the growth of the immersion cooling fluids market in the region.

Market Dynamics

Drivers

• Increasing Density of Servers
• Expansion of Electric Grids in Asia-Pacific
• Growing Need for Energy-Efficient Cooling Systems
• Demand for Eco-Friendly Cooling Solutions for Data Centers

Restraints

• Toxicity of Fluorocarbon-Based Fluids
• Environmental Concerns Regarding Use of Mineral Oil in Transformers

Opportunities

• Rising Demand for Bio-Based Oils
• Adoption of Immersion Cooling for EV Batteries
• Need for Single-Phase Immersion Cooling Solutions for Data Center Applications

Challenges

• Retrofitting of Immersion Cooling Solutions in Data Centers
• Fluctuations in Crude Oil Price

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Immersion Cooling Fluids Market, by Technology

8 Immersion Cooling Fluids Market, by Type

9 Immersion Cooling Fluids Market, by End Use

10 Immersion Cooling Fluids Market, by Region

11 Competitive Landscape

12 Company Profiles

13 Appendix

Companies Mentioned

• 3M
• Apar Industries
• Cargill, Incorporated
• Castrol
• Chemours
• Dober
• Engineered Fluids
• Ergon, Inc.
• Fluorez Technology Inc.
• Fuchs Petrolub Se
• Green Revolution Cooling Inc.
• Guangdong Giant Fluorine Energy Saving Technology Co. Ltd
• Honeywell International Inc.
• Lanxess
• M&I Materials Limited.
• Nynas Ab
• Petrochina Company Limited
• Sanming Hexafluo Chemicals Co. Ltd.
• Shell plc
• Shenzhen Huayi Brother Technology Co. Ltd.
• Sinopec Lubricant Company
• Solvay
• Submer
• The Lubrizol Corporation
• Totalenergies
• Zhejiang Noah Fluorochemical Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/dvd4h7

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