Immersion Cooling Fluids Market Report 2026

The immersion cooling fluids market size has grown rapidly in recent years. It will grow from $2.2 billion in 2025 to $2.43 billion in 2026 at a compound annual growth rate (CAGR) of 10.3%. The growth in the historic period can be attributed to expansion of hyperscale data centers, increasing server power densities, limitations of air cooling systems, growth of high-performance computing workloads, availability of dielectric cooling fluids.

The immersion cooling fluids market size is expected to see strong growth in the next few years. It will grow to $3.55 billion in 2030 at a compound annual growth rate (CAGR) of 9.9%. The growth in the forecast period can be attributed to increasing adoption of ai-driven data centers, rising focus on data center energy efficiency, expansion of edge computing infrastructure, growing deployment of liquid cooling technologies, increasing investments in sustainable cooling solutions. Major trends in the forecast period include rising adoption of immersion cooling in data centers, growing demand for high-efficiency thermal management, expansion of ai and high-performance computing infrastructure, increasing use in cryptocurrency mining, enhanced focus on energy-efficient cooling solutions.

The increasing demand for cryptocurrency mining is expected to propel the growth of the immersion cooling fluids market going forward. Cryptocurrency mining is the process of creating new units of a cryptocurrency and securing transactions on the blockchain by solving complex mathematical problems. Immersion cooling fluids are useful for cryptocurrency mining as they provide an efficient method of cooling mining hardware, such as ASIC (Application-Specific Integrated Circuit) or GPU (Graphics Processing Unit) mining rigs. For instance, in February 2024, according to The U.S. Energy Information Administration, a US-based Federal statistical system, in 2023, global electricity consumption associated with Bitcoin mining was estimated to range from 67 terawatt-hours (TWh) to 240 terawatt-hours (TWh), with a central estimate of 120 terawatt-hours (TWh). Additionally, the share of global Bitcoin mining activity surged by 37.8% in January 2022. Therefore, the increasing demand for cryptocurrency mining is driving the growth of the immersion cooling fluids market.

Major companies operating in the immersion cooling fluids are launching new products incorporating technologies such as flow technology to increase their profitability in the market. Flow technology in immersion cooling fluids involves managing and controlling the circulation system, pumps, and components to ensure a controlled flow of dielectric fluid around submerged components. For instance, in November 2023, LiquidStack, a US-based liquid cooling provider launched single-phase immersion cooling solution for data centers. Liquid cooling surpasses air cooling with 28 times greater heat rejection capacity, ideal for powering high-demand generative AI processors. Its efficiency leads to a 32% reduction in capital expenditures compared to air cooling, stemming from minimized space, materials, water, and power usage. Energy consumption sees a significant 41% decrease, and the LiquidStack system, part of MacroModular, accommodates 1.5MW liquid cooling in a modular container. Employing flow technology, it achieves over 110kW performance using W32 water, enhancing heat transfer dynamics.

In October 2023, Soltex Inc., a U.S.-based technology company, acquired DSI Ventures for an undisclosed amount. Through this acquisition, Soltex aims to accelerate its AI-driven solutions, broaden its immersion cooling technology portfolio, unlock new market opportunities, and reinforce long-term innovation and commercialization strategies. DSI Ventures is a U.S.-based manufacturing company specializing in AI applications and advanced immersion cooling solutions.

Major companies operating in the immersion cooling fluids market are Exxon Mobil Corporation, Royal Dutch Shell plc, Cargill, Incorporated, Honeywell International Inc., 3M Company, Asperitas B.V., Liquid Stack Inc., Solvay S.A., The Lubrizol Corporation, Submer Technologies S.L., Castrol Limited, FUCHS Petrolub SE, Iceotope Limited, 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., DCX Liquid Cooling Systems, Inc.

Asia-Pacific was the largest region in the immersion cooling fluids market in 2025. 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, South East Asia, 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, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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.

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