Data Center Immersion Cooling Fluids Market – Global Forecast To 2032
데이터 센터용 침지 냉각액 시장 – 기술(단상, 2상), 데이터 센터 유형(하이퍼스케일, AI/ML, 암호화폐 채굴), 유형(미네랄 오일, 불소계 유체, 합성 유체) 및 지역별 – 2032년까지의 세계 예측
Data Center Immersion Cooling Fluids Market by Technology (Single-Phase, Two-Phase), Data Center Type (Hyperscale, AI/ML, Cryptocurrency Mining), Type (Mineral Oil, Fluorocarbon-based Fluids, Synthetic Fluids), and Region – Global Forecast to 2032
| 조사회사 | MarketsandMarkets |
| 출판년월 | 2025년9월 |
| 페이지 수 | 229 |
| 도표 수 | 299 |
| 라이센스 | Single User License |
| 가격 | USD 4,950 |
| 구성 | 영문조사보고서 |
본 보고서는 기술, 유형, 데이터 센터 유형 및 지역을 기준으로 데이터 센터 침지 냉각액 시장을 정의, 세분화 및 전망합니다. 시장 성장에 영향을 미치는 주요 요인(동인, 제약, 기회 및 과제 등)에 대한 자세한 정보를 제공합니다. 데이터 센터 침지 냉각액 제조업체를 전략적으로 분석하고 시장 점유율과 핵심 역량을 종합적으로 분석합니다. 또한, 확장, 파트너십, 신제품 출시 등 시장에서 이들이 추진하는 경쟁 상황을 추적 및 분석합니다.
본 보고서는 데이터센터 침지 냉각액 시장 및 관련 부문의 매출 수치를 가장 근접하게 제시함으로써 시장 선도 기업/신규 진입 기업에 도움을 줄 것으로 기대됩니다. 또한, 이해관계자들이 시장의 경쟁 환경을 이해하고, 사업 입지를 강화하기 위한 통찰력을 확보하며, 적절한 시장 진출 전략을 수립하는 데 도움을 줄 것으로 기대됩니다. 또한, 이해관계자들이 시장의 흐름을 파악하고 주요 시장 동인, 제약, 과제, 기회에 대한 정보를 제공할 수 있도록 지원합니다.
세계 데이터센터 침지 냉각액 시장은 2025년 1억 9천만 달러에서 2032년 8억 4천만 달러로 성장할 것으로 예상되며, 예측 기간 동안 연평균 성장률(CAGR)은 23.9%입니다. 클라우드 컴퓨팅, 고성능 컴퓨팅, 그리고 비즈니스 데이터센터 분야에서 효과적인 열 관리 솔루션에 대한 수요가 증가함에 따라 시장 성장이 가속화되고 있습니다. 데이터 집약적인 애플리케이션의 급속한 디지털화와 개발은 확장 가능하고 안정적이며 효과적인 방열 시스템에 대한 수요 증가에 기여하고 있습니다.
The global data center immersion cooling fluids market is projected to grow from USD 0.19 billion in 2025 to USD 0.84 billion by 2032, at a CAGR of 23.9% during the forecast period. The growing need for effective thermal management solutions in cloud computing, high-performance computing, and business data center sectors is propelling the market’s growth. The rapid digitization and development of data-intensive applications contribute to the growing demand for scalable, reliable, and effective heat dissipation systems.
“Fluorocarbon-based fluids are estimated to account for the second-largest share, by type, during the forecast period”.
Fluorocarbon fluids are expected to hold the second-largest market share in the data center immersion cooling fluids market during the forecast period, due to their better dielectric characteristics, thermal stability, and efficient heat transfer capabilities, particularly in high-density, high-performance computing systems. Such fluids are specifically used when precise and homogeneous cooling is required, such as in hyperscale and HPC data centers, where thermal load management is involved. However, their relatively higher cost and environmental limitations limit their mass usage, such as a greater global warming potential than alternatives like mineral oil-based fluids.
“Two-phase cooling is estimated to account for the second-largest share, by technology, during the forecast period”.
Two-phase cooling is projected to hold the second-largest market share in the data center immersion cooling fluids market in the forecast period, mainly because, while it delivers enhanced thermal management and power efficiency, mass adoption is hampered by significant initial capital investment and extensive infrastructural changes that have to be made for its adoption. Two-phase systems deliver enhanced cooling in high-density, mission-critical computing data centers to allow data centers to manage the high heat loads that applications like artificial intelligence and high-performance computing produce while achieving optimal energy efficiency.
“Cryptocurrency mining data centers are estimated to account for the second-largest share, by data center type, during the forecast period”.
Cryptocurrency mining data centers are estimated to occupy the second-largest share in the data center market by type during the forecast period. This is primarily due to their niche role in enabling computational and power requirements for large-scale crypto mining operations. The cryptocurrency usage and investment boom has driven demand for more scalable, energy-efficient, and sophisticated mining hardware, propelling purpose-built data centers into the forefront of mining viability and profitability. Purpose-built data centers leverage the latest cooling and power technologies and economies of scale costs to enable high-volume mining economically, a necessity as solo mining becomes impractical amid growing hash rates and hardware costs.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
- By Designation: C-level– 30%, Director Level– 40%, and Others – 30%
- By Region: North America – 25%, Europe – 30%, Asia Pacific – 35%, South America – 5%, and Middle East & Africa – 5%
Chemours Company (US), FUCHS SE (Germany), The Lubrizol Corporation (US), Submer (Spain), and Inventec Performance Chemicals (France) are some of the major players operating in the data center immersion cooling fluids market. These players have adopted strategies such as acquisitions, expansions, partnerships, and agreements to increase their market share and business revenue.
Research Coverage:
The report defines, segments, and projects the data center immersion cooling fluids market based on technology, type, data center type, and region. It provides detailed information regarding the major factors influencing the market’s growth, such as drivers, restraints, opportunities, and challenges. It strategically profiles data center immersion cooling fluids manufacturers and comprehensively analyzes their market shares and core competencies. It also tracks and analyzes competitive developments, such as expansions, partnerships, and new product launches, undertaken by them in the market.
Reasons to Buy the Report:
The report is expected to help the market leaders/new entrants by providing them with the closest approximations of revenue numbers of the data center immersion cooling fluids market and its segments. This report is also expected to help stakeholders understand the market’s competitive landscape, gain insights to improve the position of their businesses, and develop suitable go-to-market strategies. It also enables stakeholders to understand the market’s pulse and provide them with information on key market drivers, restraints, challenges, and opportunities.
The report provides insights into the following points:
- Analysis of key drivers (Expanding Data Center Market, Increasing penetration of liquid cooling technology in the data center market, further driving demand for both DTC as well as immersion cooling fluids and Increasing server rack density), restraints (Technology under development for two-phase PFAS free fluids for immersion cooling and Slower adoption in the data center applications), opportunities (Growing installation of Al based Mega Data Center, Growing demand for energy efficient cooling solutions, Sustainability Trend – Increasing pressure on data center owners/ operators to reduce carbon footprint and Increasing demand for environment friendly fluid technology, such as PFAS free and bio-based fluids), and challenges (Competition from DTC liquid cooling technology and Maintenance Challenges and Cost Burden in Immersion Cooling for Data Centers) influencing the growth of the data center immersion cooling fluids market.
- Product Development/Innovation: Detailed insights into upcoming technologies, research & development activities in the data center immersion cooling fluids market.
- Market Development: Comprehensive information about lucrative markets – the report analyzes the data center immersion cooling fluids market across varied regions.
- Market Diversification: Exhaustive information about new products, various types, untapped geographies, recent developments, and investments in the industrial market.
- Competitive Assessment: In-depth assessment of market shares, growth strategies and product offerings of leading players such as The Chemours Company (US), FUCHS SE (Germany), Submer (Spain), The Lubrizol Corporation (US), Inventec Performance Chemicals (France), Castrol Limited (UK), Shell plc (UK), Green Revolution Cooling (US), Engineered Fluids (US), Cargill, Incorporated (US), Valvoline Global Operations (US), ENEOS Corporation (Japan), TotalEnergies (France), Dynalene, Inc. (US), DCX Liquid Cooling Systems (Poland), Honeywell International Inc. (US), Exxon Mobil Corporation (US), Dow Inc. (US), PETRONAS Lubricants International (Malaysia), Oleon NV (Belgium), Chevron Corporation (US) and others in the data center immersion cooling fluids market.
Table of Contents
1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION 25
1.3 STUDY SCOPE 26
1.3.1 MARKETS COVERED AND REGIONAL SCOPE 26
1.3.2 INCLUSIONS & EXCLUSIONS OF STUDY 27
1.3.3 YEARS CONSIDERED 27
1.3.4 CURRENCY CONSIDERED 27
1.3.5 UNITS CONSIDERED 27
1.4 LIMITATIONS 28
1.5 STAKEHOLDERS 28
1.6 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
2.1.1 SECONDARY DATA 30
2.1.1.1 Key data from secondary sources 30
2.1.2 PRIMARY DATA 30
2.1.2.1 Key data from primary sources 31
2.1.2.2 Breakdown of interviews with experts 31
2.2 MATRIX CONSIDERED FOR DEMAND-SIDE ANALYSIS 32
2.3 MARKET SIZE ESTIMATION 32
2.3.1 BOTTOM-UP APPROACH 33
2.3.2 TOP-DOWN APPROACH 33
2.4 CALCULATION FOR SUPPLY-SIDE ANALYSIS 35
2.5 GROWTH FORECAST 35
2.6 DATA TRIANGULATION 35
2.7 RESEARCH ASSUMPTIONS 36
2.8 RESEARCH LIMITATIONS 37
2.9 RISK ASSESSMENT 37
3 EXECUTIVE SUMMARY 38
4 PREMIUM INSIGHTS 41
4.1 ATTRACTIVE OPPORTUNITIES IN DATA CENTER IMMERSION COOLING FLUIDS MARKET 41
4.2 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY DATA CENTER TYPE 41
4.3 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY AND COUNTRY 42
4.4 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY KEY COUNTRY 43
5 MARKET OVERVIEW 44
5.1 INTRODUCTION 44
5.2 MARKET DYNAMICS 45
5.2.1 DRIVERS 45
5.2.1.1 Expanding data center market 45
5.2.1.2 Rising use of liquid cooling technology in data centers
boosts demand for DTC and immersion cooling fluids 46
5.2.1.3 Increasing server rack density 47
5.2.2 RESTRAINTS 48
5.2.2.1 Technology under development for two-phase PFAS-free fluids
for immersion cooling 48
5.2.2.2 Slower adoption in data center applications 48
5.2.3 OPPORTUNITIES 48
5.2.3.1 Growing installation of AI-based mega data centers 48
5.2.3.2 Growing demand for energy-efficient cooling solutions 48
5.2.3.3 Data center owners and operators face growing pressure to lower carbon footprint 49
5.2.3.4 Increasing demand for environment-friendly fluid technology,
such as PFAS-free and bio-based fluids 50
5.2.4 CHALLENGES 50
5.2.4.1 Competition from DTC liquid cooling technology 50
5.2.4.2 Maintenance challenges and cost burden in immersion cooling
for data centers 50
6 INDUSTRY TRENDS 51
6.1 GLOBAL MACROECONOMIC OUTLOOK 51
6.1.1 GDP 51
6.1.2 RESEARCH AND DEVELOPMENT (R&D) EXPENDITURE 53
6.2 EVOLUTION OF IMMERSION COOLING FOR DATA CENTERS 53
6.3 PARTNERSHIPS 54
6.4 SUPPLY CHAIN ANALYSIS 56
6.5 ECOSYSTEM ANALYSIS 58
6.6 PORTER’S FIVE FORCES ANALYSIS 59
6.6.1 BARGAINING POWER OF SUPPLIERS 61
6.6.2 BARGAINING POWER OF BUYERS 61
6.6.3 THREAT OF NEW ENTRANTS 61
6.6.4 THREAT OF SUBSTITUTES 62
6.6.5 INTENSITY OF COMPETITIVE RIVALRY 62
6.7 KEY STAKEHOLDERS AND BUYING CRITERIA 62
6.7.1 KEY STAKEHOLDERS IN BUYING PROCESS 62
6.7.2 BUYING CRITERIA 63
6.8 PRICING ANALYSIS 64
6.8.1 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY REGION, 2024 64
6.8.2 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY KEY PLAYER, 2024 65
6.8.3 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY TECHNOLOGY, 2024 66
6.9 REGULATORY LANDSCAPE 67
6.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS 67
6.10 ORGANIZATIONS PROVIDING STANDARDS FOR DATA CENTERS 69
6.10.1 INTRODUCTION 69
6.10.2 AMERICAN NATIONAL STANDARDS INSTITUTE 69
6.10.3 AMERICAN SOCIETY OF HEATING, REFRIGERATING AND
AIR-CONDITIONING ENGINEERS 69
6.10.4 INSTITUTE FOR ENERGY AND TRANSPORT 69
6.10.5 DISTRIBUTED MANAGEMENT TASK FORCE 69
6.10.6 TELECOMMUNICATION INDUSTRY ASSOCIATION 69
6.10.7 NATIONAL ELECTRICAL MANUFACTURERS ASSOCIATION 69
6.10.8 CANADIAN STANDARDS ASSOCIATION GROUP 70
6.10.9 UNDERWRITERS LABORATORY 70
6.10.10 UNITED STATES DEPARTMENT OF ENERGY 70
6.10.11 UNITED STATES ENVIRONMENTAL PROTECTION AGENCY 70
6.10.12 STATEMENT ON STANDARDS FOR ATTESTATION ENGAGEMENTS NO. 16 70
6.10.13 INTERNATIONAL STANDARDS COMPLIANCE 70
6.11 KEY CONFERENCES AND EVENTS 71
6.12 PATENT ANALYSIS 72
6.12.1 METHODOLOGY 72
6.13 TECHNOLOGY ANALYSIS 74
6.13.1 KEY TECHNOLOGIES 74
6.13.1.1 Immersion cooling tank and enclosure design 74
6.13.1.2 Thermal interface optimization and hardware configuration 74
6.13.2 ADJACENT TECHNOLOGIES 75
6.13.2.1 Data center infrastructure management 75
6.13.2.2 Immersion-compatible hardware design 75
6.14 CASE STUDY ANALYSIS 75
6.14.1 DOWNUNDER GEOSOLUTIONS ADOPTS IMMERSION COOLING
TECHNOLOGY BY GREEN REVOLUTION COOLING 75
6.14.2 GREEN REVOLUTION COOLING AND TEXAS ADVANCED COMPUTING CENTER COLLABORATE TO ENHANCE SUPERCOMPUTER PERFORMANCE 76
6.15 TRADE ANALYSIS 77
6.15.1 IMPORT SCENARIO (HS CODE 2710) 77
6.15.2 EXPORT SCENARIO (HS CODE 2710) 77
6.16 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 78
6.17 INVESTMENT AND FUNDING SCENARIO 79
6.18 IMPACT OF GENERATIVE AI ON DATA CENTER IMMERSION COOLING FLUIDS MARKET 79
6.19 IMPACT OF 2025 US TARIFF ON DATA CENTER IMMERSION COOLING FLUIDS MARKET 79
6.19.1 KEY TARIFF RATES 80
6.19.2 PRICE IMPACT ANALYSIS 80
6.19.3 IMPACT ON COUNTRY/REGION 80
6.19.3.1 US 80
6.19.3.2 Europe 81
6.19.3.3 Asia Pacific 81
6.19.4 IMPACT ON APPLICATIONS (DATA CENTER TYPES) 81
6.19.4.1 Hyperscale data centers 81
6.19.4.2 AI/ML data centers 81
6.19.4.3 Cryptocurrency mining data centers 82
6.19.4.4 Others (Edge data centers and colocation data centers) 82
7 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE 83
7.1 INTRODUCTION 84
7.2 MINERAL OIL 85
7.2.1 EASY AVAILABILITY AND LOW PRICE TO FUEL DEMAND 85
7.3 FLUOROCARBON-BASED FLUIDS 87
7.3.1 ASIA PACIFIC TO BE LARGEST MARKET FOR FLUOROCARBON-BASED FLUIDS 87
7.4 SYNTHETIC FLUIDS 89
7.4.1 LOW CORROSION PROPERTY TO FUEL DEMAND 89
7.5 OTHER TYPES 91
8 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY DATA CENTER TYPE 94
8.1 INTRODUCTION 95
8.2 HYPERSCALE DATA CENTERS 96
8.2.1 HIGH POWER DENSITY AND HEAT GENERATION TO DRIVE MARKET 96
8.3 AI/ML DATA CENTERS 97
8.3.1 SURGING AI/ML & HPC WORKLOADS TO DRIVE DEMAND FOR IMMERSION COOLING FLUIDS 97
8.4 CRYPTOCURRENCY MINING DATA CENTERS 97
8.4.1 ENERGY EFFICIENCY, EQUIPMENT LONGEVITY, AND SPATIAL OPTIMIZATION TO PROPEL MARKET 97
8.5 OTHER DATA CENTERS 98
9 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY 99
9.1 INTRODUCTION 100
9.2 SINGLE-PHASE COOLING 101
9.2.1 LOW MAINTENANCE AND COST-EFFECTIVENESS TO DRIVE MARKET 101
9.3 TWO-PHASE COOLING 102
9.3.1 RISING NEED FOR EFFICIENT, HIGH-PERFORMANCE COOLING IN HIGH-DENSITY SERVER ENVIRONMENTS TO DRIVE MARKET 102
10 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION 104
10.1 INTRODUCTION 105
10.2 ASIA PACIFIC 107
10.2.1 CHINA 109
10.2.1.1 Supportive policy frameworks promoting green and energy-efficient infrastructure to drive market 109
10.2.2 INDIA 111
10.2.2.1 Significant deployment of data centers to increase demand
for cooling fluids 111
10.2.3 JAPAN 112
10.2.3.1 Growing government initiatives and rising sustainability demands
to drive market 112
10.2.4 SOUTH KOREA 114
10.2.4.1 Government investments and technological advancements to fuel demand 114
10.2.5 AUSTRALIA 116
10.2.5.1 Extreme climate and cooling challenges to boost demand 116
10.2.6 MALAYSIA 117
10.2.6.1 Government incentives and digital initiatives to boost demand 117
10.2.7 REST OF ASIA PACIFIC 118
10.3 NORTH AMERICA 120
10.3.1 US 122
10.3.1.1 Technological innovations to drive market 122
10.3.2 CANADA 124
10.3.2.1 Increasing power density and high-performance computing
to drive market 124
10.3.3 MEXICO 126
10.3.3.1 Expansion of e-commerce to support market growth 126
10.4 EUROPE 127
10.4.1 GERMANY 130
10.4.1.1 Strong industrial and automotive sector to drive market 130
10.4.2 UK 132
10.4.2.1 Increasing demand for data storage and processing
capabilities to drive market 132
10.4.3 FRANCE 133
10.4.3.1 Technological advancements and industry initiatives to propel market 133
10.4.4 NETHERLANDS 135
10.4.4.1 Regulatory and technological dynamics to boost demand 135
10.4.5 SPAIN 137
10.4.5.1 Sustainability incentives to fuel adoption 137
10.4.6 RUSSIA 138
10.4.6.1 Cryptocurrency mining and data sovereignty demands to accelerate immersion cooling adoption 138
10.4.7 REST OF EUROPE 140
10.5 MIDDLE EAST & AFRICA 142
10.5.1 GCC COUNTRIES 144
10.5.1.1 Saudi Arabia 144
10.5.1.1.1 Transformation in digital infrastructure to support
market growth 144
10.5.1.2 UAE 146
10.5.1.2.1 Hyperscale expansion and energy efficiency targets to support market growth 146
10.5.1.3 Rest of GCC Countries 147
10.5.2 REST OF MIDDLE EAST & AFRICA 148
10.6 SOUTH AMERICA 150
11 COMPETITIVE LANDSCAPE 153
11.1 INTRODUCTION 153
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 153
11.3 REVENUE ANALYSIS 156
11.3.1 REVENUE ANALYSIS OF TOP 5 PLAYERS 156
11.4 MARKET SHARE ANALYSIS 157
11.5 BRAND/PRODUCT COMPARISON 159
11.6 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024 160
11.6.1 STARS 160
11.6.2 EMERGING LEADERS 160
11.6.3 PERVASIVE PLAYERS 161
11.6.4 PARTICIPANTS 161
11.6.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024 162
11.6.5.1 Company footprint 162
11.6.5.2 Region footprint 163
11.6.5.3 Technology footprint 164
11.6.5.4 Type footprint 165
11.6.5.5 Data center type footprint 166
11.7 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024 167
11.7.1 PROGRESSIVE COMPANIES 167
11.7.2 RESPONSIVE COMPANIES 167
11.7.3 DYNAMIC COMPANIES 167
11.7.4 STARTING BLOCKS 167
11.7.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024 169
11.7.5.1 Detailed list of key startups/SMEs 169
11.7.5.2 Competitive benchmarking of key startups/SMEs 170
11.8 COMPANY VALUATION AND FINANCIAL METRICS 170
11.9 COMPETITIVE SCENARIO 172
11.9.1 PRODUCT/SOLUTION LAUNCHES 172
11.9.2 DEALS 173
12 COMPANY PROFILES 175
12.1 KEY PLAYERS 175
12.1.1 THE CHEMOURS COMPANY 175
12.1.1.1 Business overview 175
12.1.1.2 Products/Solutions/Services offered 176
12.1.1.3 Recent developments 177
12.1.1.3.1 Product launches 177
12.1.1.3.2 Deals 177
12.1.1.4 MnM view 178
12.1.1.4.1 Key strengths 178
12.1.1.4.2 Strategic choices 178
12.1.1.4.3 Weaknesses and competitive threats 178
12.1.2 FUCHS SE 179
12.1.2.1 Business overview 179
12.1.2.2 Products/Solutions/Services offered 180
12.1.2.3 MnM view 180
12.1.2.3.1 Key strengths 180
12.1.2.3.2 Strategic choices 180
12.1.2.3.3 Weaknesses and competitive threats 180
12.1.3 SUBMER 181
12.1.3.1 Business overview 181
12.1.3.2 Products/Solutions/Services offered 181
12.1.3.3 Recent developments 181
12.1.3.3.1 Deals 181
12.1.3.3.2 Expansions 182
12.1.3.3.3 Other developments 183
12.1.3.4 MnM view 183
12.1.3.4.1 Key strengths 183
12.1.3.4.2 Strategic choices 183
12.1.3.4.3 Weaknesses and competitive threats 183
12.1.4 THE LUBRIZOL CORPORATION 184
12.1.4.1 Business overview 184
12.1.4.2 Products/Solutions/Services offered 184
12.1.4.3 Recent developments 185
12.1.4.3.1 Deals 185
12.1.4.4 MnM view 186
12.1.4.4.1 Key strengths 186
12.1.4.4.2 Strategic choices 186
12.1.4.4.3 Weaknesses and competitive threats 186
12.1.5 INVENTEC PERFORMANCE CHEMICALS 187
12.1.5.1 Business overview 187
12.1.5.2 Products/Solutions/Services offered 187
12.1.5.3 MnM view 188
12.1.5.3.1 Key strengths 188
12.1.5.3.2 Strategic choices 188
12.1.5.3.3 Weaknesses and competitive threats 188
12.1.6 CASTROL LIMITED 189
12.1.6.1 Business overview 189
12.1.6.2 Products/Solutions/Services offered 189
12.1.6.3 Recent developments 190
12.1.6.3.1 Deals 190
12.1.7 SHELL PLC 191
12.1.7.1 Business overview 191
12.1.7.2 Products/Solutions/Services offered 192
12.1.7.3 Recent developments 193
12.1.7.3.1 Product launches 193
12.1.7.3.2 Deals 193
12.1.8 GREEN REVOLUTION COOLING 194
12.1.8.1 Business overview 194
12.1.8.2 Products/Solutions/Services offered 194
12.1.8.3 Recent developments 195
12.1.8.3.1 Deals 195
12.1.9 ENGINEERED FLUIDS 196
12.1.9.1 Business overview 196
12.1.9.2 Products/Solutions/Services offered 196
12.1.10 CARGILL, INCORPORATED 197
12.1.10.1 Business overview 197
12.1.10.2 Products/Solutions/Services offered 197
12.1.11 VALVOLINE GLOBAL OPERATIONS 198
12.1.11.1 Business overview 198
12.1.11.2 Products/Solutions/Services offered 198
12.1.12 ENEOS CORPORATION 199
12.1.12.1 Business overview 199
12.1.12.2 Products/Solutions/Services offered 200
12.1.13 TOTALENERGIES 201
12.1.13.1 Business overview 201
12.1.13.2 Products/Solutions/Services offered 202
12.1.13.3 Recent developments 202
12.1.13.3.1 Deals 202
12.1.14 DYNALENE, INC. 203
12.1.14.1 Business overview 203
12.1.14.2 Products/Solutions/Services offered 203
12.1.15 DCX LIQUID COOLING SYSTEMS 204
12.1.15.1 Business overview 204
12.1.15.2 Products/Solutions/Services offered 204
12.1.16 HONEYWELL INTERNATIONAL INC. 205
12.1.16.1 Business overview 205
12.1.16.2 Products/Solutions/Services offered 206
12.1.16.3 Recent developments 207
12.1.16.3.1 Product launches 207
12.1.17 EXXON MOBIL CORPORATION 208
12.1.17.1 Business overview 208
12.1.17.2 Products/Solutions/Services offered 209
12.1.17.3 Recent developments 210
12.1.17.3.1 Product launches 210
12.1.17.3.2 Deals 210
12.1.18 DOW INC. 211
12.1.18.1 Business overview 211
12.1.18.2 Products/Solutions/Services offered 212
12.1.18.3 Recent developments 213
12.1.18.3.1 Product launches 213
12.1.19 PETRONAS LUBRICANTS INTERNATIONAL 214
12.1.19.1 Business overview 214
12.1.19.2 Products/Solutions/Services offered 214
12.1.20 OLEON NV 215
12.1.20.1 Business overview 215
12.1.20.2 Products/Solutions/Services offered 215
12.1.20.3 Recent developments 215
12.1.20.3.1 Product launches 215
12.2 OTHER PLAYERS 216
12.2.1 SANMING HEXAFLUO CHEMICALS CO., LTD. 216
12.2.2 GUANGDONG GIANT FLUORINE ENERGY SAVING TECHNOLOGY CO., LTD. 217
12.2.3 ZHEJIANG NOAH FLUOROCHEMICAL CO., LTD 218
12.2.4 FLUOREZ TECHNOLOGY INC. 218
12.2.5 SHENZHEN HUAYI BROTHER TECHNOLOGY CO., LTD. 219
12.2.6 AMER TECHNOLOGY CO., LTD. 219
13 ADJACENT AND RELATED MARKETS 220
13.1 INTRODUCTION 220
13.2 LIMITATIONS 220
13.3 INTERCONNECTED MARKETS 220
13.3.1 IMMERSION COOLING FLUIDS MARKET 220
13.3.1.1 Market definition 220
13.3.1.2 Market overview 220
13.3.1.3 Immersion cooling fluids market, by technology 221
13.3.1.3.1 Single-phase cooling 221
13.3.1.3.1.1 Cost-effective method requiring limited maintenance 221
13.3.1.3.2 Two-phase cooling 221
13.3.1.3.2.1 More complex and expensive immersion cooling system 221
14 APPENDIX 223
14.1 DISCUSSION GUIDE 223
14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 225
14.3 CUSTOMIZATION OPTIONS 227
14.4 RELATED REPORTS 227
14.5 AUTHOR DETAILS 228
LIST OF TABLES
TABLE 1 DATA CENTER IMMERSION COOLING FLUIDS MARKET SNAPSHOT, 2025 VS. 2032 39
TABLE 2 REAL GDP GROWTH (ANNUAL PERCENTAGE CHANGE), BY KEY COUNTRY,
2021–2023 (%) 51
TABLE 3 UNEMPLOYMENT RATE, BY KEY COUNTRY, 2021–2023 (%) 52
TABLE 4 INFLATION RATE AVERAGE CONSUMER PRICES, BY KEY COUNTRY, 2021–2023 (%) 52
TABLE 5 FOREIGN DIRECT INVESTMENT, BY COUNTRY/REGION,
2022 VS. 2023 (USD BILLION) 52
TABLE 6 PARTNERS OF MAJOR IMMERSION COOLING SOLUTION PROVIDERS 55
TABLE 7 ROLE OF COMPANIES IN DATA CENTER IMMERSION COOLING FLUIDS ECOSYSTEM 59
TABLE 8 DATA CENTER IMMERSION COOLING FLUIDS MARKET: PORTER’S FIVE
FORCES ANALYSIS 60
TABLE 9 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END-USE INDUSTRY (%) 63
TABLE 10 KEY BUYING CRITERIA, BY END-USE INDUSTRY 63
TABLE 11 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY REGION, 2024 (USD/LITER) 65
TABLE 12 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY COMPANY, 2024 (USD/LITER) 66
TABLE 13 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY TECHNOLOGY, 2024 (USD/LITER) 66
TABLE 14 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND
OTHER ORGANIZATIONS 67
TABLE 15 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND
OTHER ORGANIZATIONS 68
TABLE 16 ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND
OTHER ORGANIZATIONS 68
TABLE 17 STANDARDS RELATED TO DATA CENTER IMMERSION COOLING FLUIDS 70
TABLE 18 DATA CENTER IMMERSION COOLING FLUIDS MARKET: KEY CONFERENCES
AND EVENTS, 2025–2026 71
TABLE 19 DATA CENTER IMMERSION COOLING FLUIDS MARKET: LIST OF MAJOR PATENTS, 2014–2024 73
TABLE 20 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 84
TABLE 21 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 84
TABLE 22 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 85
TABLE 23 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 85
TABLE 24 MINERAL OIL: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2022–2024 (USD THOUSAND) 86
TABLE 25 MINERAL OIL: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2025–2032 (USD THOUSAND) 86
TABLE 26 MINERAL OIL: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2022–2024 (THOUSAND LITERS) 86
TABLE 27 MINERAL OIL: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2025–2032 (THOUSAND LITERS) 87
TABLE 28 FLUOROCARBON-BASED FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2022–2024 (USD THOUSAND) 88
TABLE 29 FLUOROCARBON-BASED FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2025–2032 (USD THOUSAND) 88
TABLE 30 FLUOROCARBON-BASED FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2022–2024 (THOUSAND LITERS) 88
TABLE 31 FLUOROCARBON-BASED FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2023–2030 (THOUSAND LITERS) 89
TABLE 32 SYNTHETIC FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY REGION, 2022–2024 (USD THOUSAND) 90
TABLE 33 SYNTHETIC FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY REGION, 2025–2032 (USD THOUSAND) 90
TABLE 34 SYNTHETIC FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY REGION, 2022–2024 (THOUSAND LITERS) 90
TABLE 35 SYNTHETIC FLUIDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY REGION, 2025–2032 (THOUSAND LITERS) 91
TABLE 36 OTHER TYPES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2022–2024 (USD THOUSAND) 92
TABLE 37 OTHER TYPES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2025–2032 (USD THOUSAND) 92
TABLE 38 OTHER TYPES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2022–2024 (THOUSAND LITERS) 92
TABLE 39 OTHER TYPES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2025–2032 (THOUSAND LITERS) 93
TABLE 40 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY DATA CENTER TYPE, 2022–2024 (THOUSAND LITERS) 95
TABLE 41 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY DATA CENTER TYPE, 2025–2032 (THOUSAND LITERS) 96
TABLE 42 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY,
2022–2024 (THOUSAND LITERS) 100
TABLE 43 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY,
2025–2032 (THOUSAND LITERS) 101
TABLE 44 SINGLE–PHASE COOLING: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2022–2024 (THOUSAND LITERS) 102
TABLE 45 SINGLE–PHASE COOLING: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION, 2025–2032 (THOUSAND LITERS) 102
TABLE 46 TWO–PHASE COOLING: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY REGION, 2022–2024 (THOUSAND LITERS) 103
TABLE 47 TWO–PHASE COOLING: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY REGION, 2025–2032 (THOUSAND LITERS) 103
TABLE 48 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION,
2022–2024 (THOUSAND LITERS) 105
TABLE 49 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION,
2025–2032 (THOUSAND LITERS) 106
TABLE 50 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION,
2022–2024 (USD THOUSAND) 106
TABLE 51 DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY REGION,
2025–2032 (USD THOUSAND) 106
TABLE 52 ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 107
TABLE 53 ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 108
TABLE 54 ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 108
TABLE 55 ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 108
TABLE 56 ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2022–2024 (THOUSAND LITERS) 108
TABLE 57 ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2025–2032 (THOUSAND LITERS) 109
TABLE 58 CHINA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 109
TABLE 59 CHINA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 110
TABLE 60 CHINA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 110
TABLE 61 CHINA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 110
TABLE 62 INDIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 111
TABLE 63 INDIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 111
TABLE 64 INDIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 112
TABLE 65 INDIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 112
TABLE 66 JAPAN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 113
TABLE 67 JAPAN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 113
TABLE 68 JAPAN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 113
TABLE 69 JAPAN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 114
TABLE 70 SOUTH KOREA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 114
TABLE 71 SOUTH KOREA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 115
TABLE 72 SOUTH KOREA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 115
TABLE 73 SOUTH KOREA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 115
TABLE 74 AUSTRALIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 116
TABLE 75 AUSTRALIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 116
TABLE 76 AUSTRALIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 117
TABLE 77 AUSTRALIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 117
TABLE 78 MALAYSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 117
TABLE 79 MALAYSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 118
TABLE 80 MALAYSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 118
TABLE 81 MALAYSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 118
TABLE 82 REST OF ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2022–2024 (THOUSAND LITERS) 119
TABLE 83 REST OF ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2025–2032 (THOUSAND LITERS) 119
TABLE 84 REST OF ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2022–2024 (USD THOUSAND) 119
TABLE 85 REST OF ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2025–2032 (USD THOUSAND) 119
TABLE 86 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 121
TABLE 87 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 121
TABLE 88 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 121
TABLE 89 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 122
TABLE 90 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2022–2024 (THOUSAND LITERS) 122
TABLE 91 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2025–2032 (THOUSAND LITERS) 122
TABLE 92 US: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 123
TABLE 93 US: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 123
TABLE 94 US: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 123
TABLE 95 US: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 124
TABLE 96 CANADA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 124
TABLE 97 CANADA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 125
TABLE 98 CANADA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 125
TABLE 99 CANADA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 125
TABLE 100 MEXICO: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 126
TABLE 101 MEXICO: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 126
TABLE 102 MEXICO: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 127
TABLE 103 MEXICO: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 127
TABLE 104 EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 128
TABLE 105 EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 129
TABLE 106 EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 129
TABLE 107 EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 129
TABLE 108 EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY, 2022–2024 (THOUSAND LITERS) 130
TABLE 109 EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY, 2025–2032 (THOUSAND LITERS) 130
TABLE 110 GERMANY: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 130
TABLE 111 GERMANY: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 131
TABLE 112 GERMANY: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 131
TABLE 113 GERMANY: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 131
TABLE 114 UK: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 132
TABLE 115 UK: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 132
TABLE 116 UK: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 133
TABLE 117 UK: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 133
TABLE 118 FRANCE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 134
TABLE 119 FRANCE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 134
TABLE 120 FRANCE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 134
TABLE 121 FRANCE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 135
TABLE 122 NETHERLANDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 135
TABLE 123 NETHERLANDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 136
TABLE 124 NETHERLANDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 136
TABLE 125 NETHERLANDS: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 136
TABLE 126 SPAIN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 137
TABLE 127 SPAIN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 137
TABLE 128 SPAIN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 138
TABLE 129 SPAIN: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 138
TABLE 130 RUSSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 139
TABLE 131 RUSSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 139
TABLE 132 RUSSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 139
TABLE 133 RUSSIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 140
TABLE 134 REST OF EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 140
TABLE 135 REST OF EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 141
TABLE 136 REST OF EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 141
TABLE 137 REST OF EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 141
TABLE 138 MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2022–2024 (THOUSAND LITERS) 142
TABLE 139 MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2025–2032 (THOUSAND LITERS) 142
TABLE 140 MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2022–2024 (USD THOUSAND) 143
TABLE 141 MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TYPE, 2025–2032 (USD THOUSAND) 143
TABLE 142 MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2022–2024 (THOUSAND LITERS) 143
TABLE 143 MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2025–2032 (THOUSAND LITERS) 143
TABLE 144 SAUDI ARABIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 144
TABLE 145 SAUDI ARABIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 145
TABLE 146 SAUDI ARABIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 145
TABLE 147 SAUDI ARABIA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 145
TABLE 148 UAE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (THOUSAND LITERS) 146
TABLE 149 UAE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (THOUSAND LITERS) 146
TABLE 150 UAE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2022–2024 (USD THOUSAND) 147
TABLE 151 UAE: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE,
2025–2032 (USD THOUSAND) 147
TABLE 152 REST OF GCC COUNTRIES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 147
TABLE 153 REST OF GCC COUNTRIES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 148
TABLE 154 REST OF GCC COUNTRIES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 148
TABLE 155 REST OF GCC COUNTRIES: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 148
TABLE 156 REST OF MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 149
TABLE 157 REST OF MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 149
TABLE 158 REST OF MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 149
TABLE 159 REST OF MIDDLE EAST & AFRICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 150
TABLE 160 SOUTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (THOUSAND LITERS) 150
TABLE 161 SOUTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (THOUSAND LITERS) 151
TABLE 162 SOUTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2022–2024 (USD THOUSAND) 151
TABLE 163 SOUTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET, BY TYPE, 2025–2032 (USD THOUSAND) 151
TABLE 164 SOUTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2022–2024 (THOUSAND LITERS) 152
TABLE 165 SOUTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS MARKET,
BY TECHNOLOGY, 2025–2032 (THOUSAND LITERS) 152
TABLE 166 DATA CENTER IMMERSION COOLING FLUIDS MARKET: OVERVIEW OF
STRATEGIES ADOPTED BY KEY PLAYERS, 2020–2025 153
TABLE 167 DATA CENTER IMMERSION COOLING FLUIDS MARKET: DEGREE
OF COMPETITION, 2024 157
TABLE 168 DATA CENTER IMMERSION COOLING FLUIDS MARKET: REGION FOOTPRINT 163
TABLE 169 DATA CENTER IMMERSION COOLING FLUIDS MARKET: TECHNOLOGY FOOTPRINT 164
TABLE 170 DATA CENTER IMMERSION COOLING FLUIDS MARKET: TYPE FOOTPRINT 165
TABLE 171 DATA CENTER IMMERSION COOLING FLUIDS MARKET: DATA CENTER
TYPE FOOTPRINT 166
TABLE 172 DATA CENTER IMMERSION COOLING FLUIDS MARKET: DETAILED LIST
OF KEY STARTUPS/SMES 169
TABLE 173 DATA CENTER IMMERSION COOLING FLUIDS MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES 170
TABLE 174 DATA CENTER IMMERSION COOLING FLUIDS MARKET: PRODUCT/SOLUTION LAUNCHES, JANUARY 2020–JUNE 2025 173
TABLE 175 DATA CENTER IMMERSION COOLING FLUIDS MARKET: DEALS,
JANUARY 2020–JUNE 2025 173
TABLE 176 THE CHEMOURS COMPANY: COMPANY OVERVIEW 175
TABLE 177 THE CHEMOURS COMPANY: PRODUCTS/SOLUTIONS/SERVICES OFFERED 176
TABLE 178 THE CHEMOURS COMPANY: PRODUCT LAUNCHES 177
TABLE 179 THE CHEMOURS COMPANY: DEALS 177
TABLE 180 FUCHS SE: COMPANY OVERVIEW 179
TABLE 181 FUCHS SE: PRODUCTS/SOLUTIONS/SERVICES OFFERED 180
TABLE 182 SUBMER: COMPANY OVERVIEW 181
TABLE 183 SUBMER: PRODUCTS/SOLUTIONS/SERVICES OFFERED 181
TABLE 184 SUBMER: DEALS 181
TABLE 185 SUBMER: EXPANSIONS 182
TABLE 186 SUBMER: OTHER DEVELOPMENTS 183
TABLE 187 THE LUBRIZOL CORPORATION: COMPANY OVERVIEW 184
TABLE 188 THE LUBRIZOL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 184
TABLE 189 THE LUBRIZOL CORPORATION: DEALS 185
TABLE 190 INVENTEC PERFORMANCE CHEMICALS: COMPANY OVERVIEW 187
TABLE 191 INVENTEC PERFORMANCE CHEMICALS: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 187
TABLE 192 CASTROL LIMITED: COMPANY OVERVIEW 189
TABLE 193 CASTROL LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 189
TABLE 194 CASTROL LIMITED: DEALS 190
TABLE 195 SHELL PLC: COMPANY OVERVIEW 191
TABLE 196 SHELL PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED 192
TABLE 197 SHELL PLC: PRODUCT LAUNCHES 193
TABLE 198 SHELL PLC: DEALS 193
TABLE 199 GREEN REVOLUTION COOLING: COMPANY OVERVIEW 194
TABLE 200 GREEN REVOLUTION COOLING: PRODUCTS/SOLUTIONS/SERVICES OFFERED 194
TABLE 201 GREEN REVOLUTION COOLING: DEALS 195
TABLE 202 ENGINEERED FLUIDS: COMPANY OVERVIEW 196
TABLE 203 ENGINEERED FLUIDS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 196
TABLE 204 CARGILL, INCORPORATED: COMPANY OVERVIEW 197
TABLE 205 CARGILL, INCORPORATED: PRODUCTS/SOLUTIONS/SERVICES OFFERED 197
TABLE 206 VALVOLINE GLOBAL OPERATIONS: COMPANY OVERVIEW 198
TABLE 207 VALVOLINE GLOBAL OPERATIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 198
TABLE 208 ENEOS CORPORATION: COMPANY OVERVIEW 199
TABLE 209 ENEOS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 200
TABLE 210 TOTALENERGIES: COMPANY OVERVIEW 201
TABLE 211 TOTALENERGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERED 202
TABLE 212 TOTALENERGIES: DEALS 202
TABLE 213 DYNALENE, INC.: COMPANY OVERVIEW 203
TABLE 214 DYNALENE, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 203
TABLE 215 DCX LIQUID COOLING SYSTEMS: COMPANY OVERVIEW 204
TABLE 216 DCX LIQUID COOLING SYSTEMS: PRODUCTS/SOLUTIONS/SERVICES OFFERED 204
TABLE 217 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW 205
TABLE 218 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 206
TABLE 219 HONEYWELL INTERNATIONAL INC.: PRODUCT LAUNCHES 207
TABLE 220 EXXON MOBIL CORPORATION: COMPANY OVERVIEW 208
TABLE 221 EXXON MOBIL CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED 209
TABLE 222 EXXON MOBIL CORPORATION: PRODUCT LAUNCHES 210
TABLE 223 EXXON MOBIL CORPORATION: DEALS 210
TABLE 224 DOW INC.: COMPANY OVERVIEW 211
TABLE 225 DOW INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED 212
TABLE 226 DOW INC.: PRODUCT LAUNCHES 213
TABLE 227 PETRONAS LUBRICANTS INTERNATIONAL: COMPANY OVERVIEW 214
TABLE 228 PETRONAS LUBRICANTS INTERNATIONAL: PRODUCTS/SOLUTIONS/
SERVICES OFFERED 214
TABLE 229 OLEON NV: COMPANY OVERVIEW 215
TABLE 230 OLEON NV: PRODUCTS/SOLUTIONS/SERVICES OFFERED 215
TABLE 231 OLEON NV: PRODUCT LAUNCHES 215
TABLE 232 SANMING HEXAFLUO CHEMICALS CO., LTD.: COMPANY OVERVIEW 216
TABLE 233 GUANGDONG GIANT FLUORINE ENERGY SAVING TECHNOLOGY CO., LTD.: COMPANY OVERVIEW 217
TABLE 234 ZHEJIANG NOAH FLUOROCHEMICAL CO., LTD.: COMPANY OVERVIEW 218
TABLE 235 FLUOREZ TECHNOLOGY INC.: COMPANY OVERVIEW 218
TABLE 236 SHENZHEN HUAYI BROTHER TECHNOLOGY CO., LTD.: COMPANY OVERVIEW 219
TABLE 237 AMER TECHNOLOGY CO., LTD.: COMPANY OVERVIEW 219
TABLE 238 IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY,
2019–2022 (USD THOUSAND) 221
TABLE 239 IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY,
2023–2030 (USD THOUSAND) 222
TABLE 240 IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY,
2019–2022 (THOUSAND LITERS) 222
TABLE 241 IMMERSION COOLING FLUIDS MARKET, BY TECHNOLOGY,
2023–2030 (THOUSAND LITERS) 222
LIST OF FIGURES
FIGURE 1 DATA CENTER IMMERSION COOLING FLUIDS MARKET SEGMENTATION
AND REGIONAL SCOPE 26
FIGURE 2 DATA CENTER IMMERSION COOLING FLUIDS MARKET: RESEARCH DESIGN 29
FIGURE 3 MAIN MATRIX CONSIDERED TO ASSESS DEMAND FOR DATA CENTER
IMMERSION COOLING FLUIDS 32
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 33
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 33
FIGURE 6 METHODOLOGY FOR SUPPLY-SIDE SIZING OF DATA CENTER IMMERSION
COOLING FLUIDS MARKET (1/2) 34
FIGURE 7 METHODOLOGY FOR SUPPLY-SIDE SIZING OF DATA CENTER IMMERSION
COOLING FLUIDS MARKET (2/2) 34
FIGURE 8 DATA CENTER IMMERSION COOLING FLUIDS MARKET: DATA TRIANGULATION 36
FIGURE 9 SYNTHETIC FLUIDS SEGMENT TO REGISTER HIGHEST CAGR DURING
FORECAST PERIOD 39
FIGURE 10 NORTH AMERICA TO REGISTER HIGHEST GROWTH DURING FORECAST PERIOD 40
FIGURE 11 AI/ML DATA CENTERS TO OFFER LUCRATIVE GROWTH OPPORTUNITIES 41
FIGURE 12 AI/ML DATA CENTERS SEGMENT TO REGISTER HIGHEST CAGR DURING
FORECAST PERIOD 41
FIGURE 13 SINGLE-PHASE COOLING SEGMENT TO REGISTER HIGHEST GROWTH
DURING FORECAST PERIOD 42
FIGURE 14 SINGE-PHASE COOLING SEGMENT ACCOUNTED FOR LARGEST
MARKET SHARE IN 2024 42
FIGURE 15 CHINA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD (2025–2032) 43
FIGURE 16 DATA CENTER IMMERSION COOLING FLUIDS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 45
FIGURE 17 COUNTRIES WITH HIGHEST NUMBER OF DATA CENTERS, 2022 VS. 2024 46
FIGURE 18 PREFERRED COOLING TECHNOLOGIES 46
FIGURE 19 POWER DENSITY BY DEVELOPMENT TYPE (KW PER RACK) 47
FIGURE 20 LIQUID COOLING CRUCIAL FOR HIGH-DENSITY RACKS, WITH IMMERSION COOLING FAVORED FOR THERMAL MANAGEMENT ABOVE 150 KW PER RACK 47
FIGURE 21 GLOBAL DATA CENTER POWER USAGE EFFECTIVENESS (PUE) 49
FIGURE 22 EVOLUTION OF DATA CENTER COOLING AND IMMERSION COOLING 54
FIGURE 23 DATA CENTER IMMERSION COOLING FLUIDS MARKET: SUPPLY CHAIN ANALYSIS 57
FIGURE 24 DATA CENTER IMMERSION COOLING FLUIDS MARKET: ECOSYSTEM MAPPING 58
FIGURE 25 DATA CENTER IMMERSION COOLING FLUIDS MARKET: PORTER’S FIVE
FORCES ANALYSIS 60
FIGURE 26 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY DATA CENTER TYPE 62
FIGURE 27 KEY BUYING CRITERIA, BY END-USE INDUSTRY 63
FIGURE 28 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY REGION, 2024 (USD/LITER) 64
FIGURE 29 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY KEY PLAYER, 2024 (USD/LITER) 65
FIGURE 30 AVERAGE SELLING PRICE TREND OF DATA CENTER IMMERSION COOLING FLUIDS, BY TECHNOLOGY, 2024 (USD/LITER) 66
FIGURE 31 LIST OF MAJOR PATENTS RELATED TO DATA CENTER IMMERSION COOLING FLUIDS, 2014–2024 72
FIGURE 32 IMPORT DATA RELATED TO HS CODE 2710-COMPLIANT PRODUCTS,
BY KEY COUNTRY, 2020–2024 (USD THOUSAND) 77
FIGURE 33 EXPORT DATA RELATED TO HS CODE 2710-COMPLIANT PRODUCTS,
BY KEY COUNTRY, 2020–2024 (USD THOUSAND) 78
FIGURE 34 TRENDS/DISRUPTIONS INFLUENCING CUSTOMER BUSINESS 78
FIGURE 35 SYNTHETIC FLUIDS SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD 84
FIGURE 36 CRYPTOCURRENCY MINING DATA CENTERS SEGMENT TO DOMINATE
MARKET DURING FORECAST PERIOD 95
FIGURE 37 SINGLE-PHASE COOLING SEGMENT TO DOMINATE MARKET DURING
FORECAST PERIOD 100
FIGURE 38 NORTH AMERICA TO DOMINATE MARKET DURING FORECAST PERIOD 105
FIGURE 39 ASIA PACIFIC: DATA CENTER IMMERSION COOLING FLUIDS MARKET SNAPSHOT 107
FIGURE 40 NORTH AMERICA: DATA CENTER IMMERSION COOLING FLUIDS
MARKET SNAPSHOT 120
FIGURE 41 EUROPE: DATA CENTER IMMERSION COOLING FLUIDS MARKET SNAPSHOT 128
FIGURE 42 DATA CENTER IMMERSION COOLING FLUIDS MARKET: REVENUE
ANALYSIS OF KEY PLAYERS, 2019–2024 (USD BILLION) 156
FIGURE 43 DATA CENTER IMMERSION COOLING FLUIDS MARKET SHARE ANALYSIS, 2024 157
FIGURE 44 DATA CENTER IMMERSION COOLING FLUIDS MARKET: BRAND/PRODUCT COMPARISON 159
FIGURE 45 DATA CENTER IMMERSION COOLING FLUIDS MARKET: COMPANY
EVALUATION MATRIX (KEY PLAYERS), 2024 161
FIGURE 46 DATA CENTER IMMERSION COOLING FLUIDS MARKET: COMPANY FOOTPRINT 162
FIGURE 47 DATA CENTER IMMERSION COOLING FLUIDS MARKET: COMPANY
EVALUATION MATRIX (STARTUPS/SMES), 2024 168
FIGURE 48 DATA CENTER IMMERSION COOLING FLUIDS MARKET: EV/EBITDA 171
FIGURE 49 DATA CENTER IMMERSION COOLING FLUIDS MARKET: ENTERPRISE
VALUE (USD BILLION) 171
FIGURE 50 DATA CENTER IMMERSION COOLING FLUIDS MARKET: YEAR-TO-DATE (YTD) PRICE TOTAL RETURN AND FIVE-YEAR STOCK BETA OF KEY MANUFACTURERS 172
FIGURE 51 THE CHEMOURS COMPANY: COMPANY SNAPSHOT 176
FIGURE 52 FUCHS SE: COMPANY SNAPSHOT 179
FIGURE 53 SHELL PLC: COMPANY SNAPSHOT 192
FIGURE 54 ENEOS CORPORATION: COMPANY SNAPSHOT 199
FIGURE 55 TOTALENERGIES: COMPANY SNAPSHOT 201
FIGURE 56 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT 206
FIGURE 57 EXXON MOBIL CORPORATION: COMPANY SNAPSHOT 209
FIGURE 58 DOW INC.: COMPANY SNAPSHOT 212
