Thermal fluids: Demand evolution driven by regulation changes

While the demand of coolants is expected to mirror the growth of BEVs, the regional demand outlook of refrigerants is highly dependent on the implementation (if and when) of various refrigerant-related regulations.

A lot has been said and written about vehicle thermal management systems and climate control systems. However, we often miss the component that plays a very critical role in the thermal management systems and climate control systems of vehicles — thermal fluids. Thermal fluids are heat-transfer fluids that help to move heat from one location to another, which in turn enables cooling or heating of various parts or components in a vehicle.