The immersion cooling fluids market size has grown strongly in recent years. It will grow from $1.89 billion in 2023 to $2.07 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. The increase observed in the historical period can be ascribed to increased data center power density, raised energy costs, a focus on green data centers, rapid growth in data storage, and increased adoption of cloud computing.
The immersion cooling fluids market size is expected to see strong growth in the next few years. It will grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The expansion anticipated in the forecast period can be linked to the increasing adoption of 5G technology, a heightened focus on energy recovery, the expansion of the Internet of Things (IoT), a rise in quantum computing applications, and increased collaboration between tech companies. Major trends projected for the forecast period encompass hybrid cooling solutions, AI-driven management systems, customized immersion cooling solutions, maintenance-free solutions, and a focus on aesthetics and design.
The growth of the immersion cooling fluids market is driven by the increasing demand for data centers. The surge in data center workload, reaching 650 million in 2021 according to the International Energy Agency, has led to a higher utilization of immersion cooling fluids. These fluids are employed to directly submerge IT gear in non-conductive liquids for efficient cooling, meeting the rising demands of data centers.
The immersion cooling fluids market is anticipated to experience growth due to the increasing demand for cryptocurrency mining. Cryptocurrency mining involves creating new units of a cryptocurrency and securing transactions on the blockchain by solving complex mathematical problems. Immersion cooling fluids play a crucial role in cryptocurrency mining by providing an efficient method of cooling mining hardware, such as ASIC or GPU mining rigs. According to The White House, the U.S. dominates global Bitcoin mining, with over 38% activity as of September 2022, up from 3.5% in 2020, hosting approximately one-third of worldwide crypto operations. Bitcoin alone contributes to 60% to 77% of the global crypto-asset electricity consumption. Therefore, the growing demand for cryptocurrency mining is driving the growth of the immersion cooling fluids market.
Major companies are launching data center immersion cooling fluids to enhance profitability. ExxonMobil Corporation, a US-based natural gas company, introduced immersion fluid products for data centers in October 2023. These products, available in synthetic and non-synthetic variants, offer efficient heat dissipation, enhance energy efficiency, and reduce overall ownership costs. Compatible with various materials, these fluids contribute to prolonged equipment lifespan, optimal performance, and lower Power Usage Effectiveness compared to traditional air-cooling methods.
Major companies in the immersion cooling fluids market are introducing new products incorporating technologies such as flow technology to enhance market profitability. Flow technology in immersion cooling fluids involves managing and controlling circulation systems, pumps, and components to ensure a controlled flow of dielectric fluid around submerged components. In November 2023, US-based liquid cooling provider LiquidStack launched a single-phase immersion cooling solution for data centers. This liquid cooling solution surpasses air cooling with 28 times greater heat rejection capacity, making it ideal for powering high-demand generative AI processors. The efficiency of liquid cooling leads to a 32% reduction in capital expenditures compared to air cooling, stemming from minimized space, materials, water, and power usage. The LiquidStack system, part of MacroModular, accommodates 1.5MW liquid cooling in a modular container, achieving over 110kW performance using W32 water and enhancing heat transfer dynamics through flow technology.
In July 2022, Cargill, a US-based global food corporation, acquired Croda's Performance Technologies and Industrial Chemicals businesses for $754 million. This acquisition enhances Cargill's ability to offer naturally-based solutions, leveraging fresh skills and talent. Croda is a UK-based chemical company known for manufacturing immersion cooling fluids.
Major companies operating in the immersion cooling fluids market report are ExxonMobil Corporation, Shell PLC, Cargill Incorporated, Honeywell International Inc., 3M Company, Fujitsu Limited, Asperitas Company, Liquid Stack Inc., Solvay SA, The Lubrizol Corporation, Alfa Laval AB, Wiwynn Corporation, Submer Technologies SL, CoolIT Systems Inc., Castrol Limited, Fuchs Petrolub SE, Clustered Systems Co., Iceotope Limited, Cooltera Inc., NanoCool Inc., Asetek A/S, Green Revolution Cooling Inc., M&I Materials Limited, Allied Control Limited, LiquidCool Solutions Inc., Ebullient Inc., Midas Green Technologies LLC, Engineered Fluids Inc., ExaScaler Inc., DCX Liquid Cooling Systems.
Asia-Pacific was the largest region in the immersion cooling fluids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the immersion cooling fluids market report during the forecast period. The regions covered in the immersion cooling fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the immersion cooling fluids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary technologies for immersion cooling fluids encompass single-phase immersion cooling and two-phase immersion cooling. Single-phase immersion cooling involves submerging electrical components in a dielectric heat transfer fluid, either passively cycled by natural convection or actively circulated by a pump. These fluids include mineral oil, synthetic fluids, fluorocarbon-based fluids, and others, serving applications in high-performance computing, edge computing, cryptocurrency mining, artificial intelligence, transformers, data centers, EV batteries, and solar photovoltaics.
The immersion cooling fluids market research report is one of a series of new reports that provides immersion cooling fluids market statistics, including immersion cooling fluids industry global market size, regional shares, competitors with an immersion cooling fluids market share, detailed immersion cooling fluids market segments, market trends and opportunities, and any further data you may need to thrive in the immersion cooling fluids industry. This immersion cooling fluids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The immersion cooling fluids market consists of sales of dielectric fluids, engineered fluids, and liquid coolants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The immersion cooling fluids market size is expected to see strong growth in the next few years. It will grow to $2.98 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The expansion anticipated in the forecast period can be linked to the increasing adoption of 5G technology, a heightened focus on energy recovery, the expansion of the Internet of Things (IoT), a rise in quantum computing applications, and increased collaboration between tech companies. Major trends projected for the forecast period encompass hybrid cooling solutions, AI-driven management systems, customized immersion cooling solutions, maintenance-free solutions, and a focus on aesthetics and design.
The growth of the immersion cooling fluids market is driven by the increasing demand for data centers. The surge in data center workload, reaching 650 million in 2021 according to the International Energy Agency, has led to a higher utilization of immersion cooling fluids. These fluids are employed to directly submerge IT gear in non-conductive liquids for efficient cooling, meeting the rising demands of data centers.
The immersion cooling fluids market is anticipated to experience growth due to the increasing demand for cryptocurrency mining. Cryptocurrency mining involves creating new units of a cryptocurrency and securing transactions on the blockchain by solving complex mathematical problems. Immersion cooling fluids play a crucial role in cryptocurrency mining by providing an efficient method of cooling mining hardware, such as ASIC or GPU mining rigs. According to The White House, the U.S. dominates global Bitcoin mining, with over 38% activity as of September 2022, up from 3.5% in 2020, hosting approximately one-third of worldwide crypto operations. Bitcoin alone contributes to 60% to 77% of the global crypto-asset electricity consumption. Therefore, the growing demand for cryptocurrency mining is driving the growth of the immersion cooling fluids market.
Major companies are launching data center immersion cooling fluids to enhance profitability. ExxonMobil Corporation, a US-based natural gas company, introduced immersion fluid products for data centers in October 2023. These products, available in synthetic and non-synthetic variants, offer efficient heat dissipation, enhance energy efficiency, and reduce overall ownership costs. Compatible with various materials, these fluids contribute to prolonged equipment lifespan, optimal performance, and lower Power Usage Effectiveness compared to traditional air-cooling methods.
Major companies in the immersion cooling fluids market are introducing new products incorporating technologies such as flow technology to enhance market profitability. Flow technology in immersion cooling fluids involves managing and controlling circulation systems, pumps, and components to ensure a controlled flow of dielectric fluid around submerged components. In November 2023, US-based liquid cooling provider LiquidStack launched a single-phase immersion cooling solution for data centers. This liquid cooling solution surpasses air cooling with 28 times greater heat rejection capacity, making it ideal for powering high-demand generative AI processors. The efficiency of liquid cooling leads to a 32% reduction in capital expenditures compared to air cooling, stemming from minimized space, materials, water, and power usage. The LiquidStack system, part of MacroModular, accommodates 1.5MW liquid cooling in a modular container, achieving over 110kW performance using W32 water and enhancing heat transfer dynamics through flow technology.
In July 2022, Cargill, a US-based global food corporation, acquired Croda's Performance Technologies and Industrial Chemicals businesses for $754 million. This acquisition enhances Cargill's ability to offer naturally-based solutions, leveraging fresh skills and talent. Croda is a UK-based chemical company known for manufacturing immersion cooling fluids.
Major companies operating in the immersion cooling fluids market report are ExxonMobil Corporation, Shell PLC, Cargill Incorporated, Honeywell International Inc., 3M Company, Fujitsu Limited, Asperitas Company, Liquid Stack Inc., Solvay SA, The Lubrizol Corporation, Alfa Laval AB, Wiwynn Corporation, Submer Technologies SL, CoolIT Systems Inc., Castrol Limited, Fuchs Petrolub SE, Clustered Systems Co., Iceotope Limited, Cooltera Inc., NanoCool Inc., Asetek A/S, Green Revolution Cooling Inc., M&I Materials Limited, Allied Control Limited, LiquidCool Solutions Inc., Ebullient Inc., Midas Green Technologies LLC, Engineered Fluids Inc., ExaScaler Inc., DCX Liquid Cooling Systems.
Asia-Pacific was the largest region in the immersion cooling fluids market in 2023. Asia-Pacific is expected to be the fastest-growing region in the immersion cooling fluids market report during the forecast period. The regions covered in the immersion cooling fluids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the immersion cooling fluids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary technologies for immersion cooling fluids encompass single-phase immersion cooling and two-phase immersion cooling. Single-phase immersion cooling involves submerging electrical components in a dielectric heat transfer fluid, either passively cycled by natural convection or actively circulated by a pump. These fluids include mineral oil, synthetic fluids, fluorocarbon-based fluids, and others, serving applications in high-performance computing, edge computing, cryptocurrency mining, artificial intelligence, transformers, data centers, EV batteries, and solar photovoltaics.
The immersion cooling fluids market research report is one of a series of new reports that provides immersion cooling fluids market statistics, including immersion cooling fluids industry global market size, regional shares, competitors with an immersion cooling fluids market share, detailed immersion cooling fluids market segments, market trends and opportunities, and any further data you may need to thrive in the immersion cooling fluids industry. This immersion cooling fluids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The immersion cooling fluids market consists of sales of dielectric fluids, engineered fluids, and liquid coolants. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Immersion Cooling Fluids Market Characteristics3. Immersion Cooling Fluids Market Trends and Strategies32. Global Immersion Cooling Fluids Market Competitive Benchmarking33. Global Immersion Cooling Fluids Market Competitive Dashboard34. Key Mergers and Acquisitions in the Immersion Cooling Fluids Market
4. Immersion Cooling Fluids Market - Macro Economic Scenario
5. Global Immersion Cooling Fluids Market Size and Growth
6. Immersion Cooling Fluids Market Segmentation
7. Immersion Cooling Fluids Market Regional and Country Analysis
8. Asia-Pacific Immersion Cooling Fluids Market
9. China Immersion Cooling Fluids Market
10. India Immersion Cooling Fluids Market
11. Japan Immersion Cooling Fluids Market
12. Australia Immersion Cooling Fluids Market
13. Indonesia Immersion Cooling Fluids Market
14. South Korea Immersion Cooling Fluids Market
15. Western Europe Immersion Cooling Fluids Market
16. UK Immersion Cooling Fluids Market
17. Germany Immersion Cooling Fluids Market
18. France Immersion Cooling Fluids Market
19. Italy Immersion Cooling Fluids Market
20. Spain Immersion Cooling Fluids Market
21. Eastern Europe Immersion Cooling Fluids Market
22. Russia Immersion Cooling Fluids Market
23. North America Immersion Cooling Fluids Market
24. USA Immersion Cooling Fluids Market
25. Canada Immersion Cooling Fluids Market
26. South America Immersion Cooling Fluids Market
27. Brazil Immersion Cooling Fluids Market
28. Middle East Immersion Cooling Fluids Market
29. Africa Immersion Cooling Fluids Market
30. Immersion Cooling Fluids Market Competitive Landscape and Company Profiles
31. Immersion Cooling Fluids Market Other Major and Innovative Companies
35. Immersion Cooling Fluids Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Immersion Cooling Fluids Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on immersion cooling fluids market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for immersion cooling fluids? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered: 1) By Technology: Single-Phase Immersion Cooling; Two-Phase Immersion Cooling2) By Cooling Fluid: Mineral Oil; Synthetic Fluids; Fluorocarbon-based Fluids; Other Cooling Fluid
3) By Application: High-performance Computing; Edge Computing; Cryptocurrency Mining; Artificial Intelligence; Other Application
4) By End-user: Transformers; Data Centers; EV Batteries; Solar Photovoltaic
Key Companies Mentioned: ExxonMobil Corporation; Shell plc; Cargill Incorporated; Honeywell International Inc.; 3M Company
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- ExxonMobil Corporation
- Shell plc
- Cargill Incorporated
- Honeywell International Inc.
- 3M Company
- Fujitsu Limited
- Asperitas Company
- Liquid Stack Inc.
- Solvay SA
- The Lubrizol Corporation
- Alfa Laval AB
- Wiwynn Corporation
- Submer Technologies SL
- CoolIT Systems Inc.
- Castrol Limited
- Fuchs Petrolub SE
- Clustered Systems Co.
- Iceotope Limited
- Cooltera Inc.
- NanoCool Inc.
- Asetek A/S
- Green Revolution Cooling Inc.
- M&I Materials Limited
- Allied Control Limited
- LiquidCool Solutions Inc.
- Ebullient Inc.
- Midas Green Technologies LLC
- Engineered Fluids Inc.
- ExaScaler Inc.
- DCX Liquid Cooling Systems