Thermal transfer oil has a wide range of applications, and the domestic substitution process in my country’s market needs to continue to accelerate.

Thermal oil, also known as heat transfer oil and heat transfer oil, is a common name for organic heat carriers. It refers to a medium that transfers heat in the form of liquid or gas phase. It is one of the by-products of petroleum. There are many types of heat transfer oils. According to different materials, they can be divided into mineral heat transfer oils based on heavy oil, asphalt, etc., synthetic heat transfer oils based on synthetic resins, and composite heat transfer oils composed of two or more different heat transfer media. There are three major categories of thermal oil. Among them, synthetic thermal oil has the advantages of good thermal stability, long service life, high operating temperature, and regeneration, and is currently the mainstream product in the thermal oil market.

As a type of heat transfer medium, thermal oil can be widely used in petroleum, chemical industry, food, medicine, papermaking, plastics, building materials, metallurgy, national defense industry, aerospace and other fields. Specifically, in the petroleum industry, thermal oil can be used in crude oil and natural gas heating scenarios; in the chemical industry, it can be used in distillation, evaporation, condensation, polymerization, drying, melting and other device heating scenarios; in the food industry, it can be used It can be used in heating scenarios of baked food baking devices, grain drying devices, and food oil refining devices; in the pharmaceutical industry, it can be used in heating scenarios of drug preparation, mixing, distillation, and melting devices.

According to the “Thermal Conductivity Oil Industry Market In-depth Research and Investment Prospects Forecast Analysis Report 2023-2028” released by the Industrial Research Center, the thermal conductivity Oil has a wide range of uses and a broad market development space. In recent years, driven by the rapid development of the domestic economy, its market demand has continued to increase. At present, my country has become a major consumer of thermal oil in the world, and the growth rate of thermal oil demand is higher than the global average.

There are many thermal oil production companies in my country. The main companies include Uni-President Petrochemical, Jiangsu Longpan Technology, China Petrochemical Corporation, Jiangsu Zhongneng Chemical Technology, Kason Technology, Shandong Qisheng Industry and Trade, Shandong Beifang Zite Special Oil, Jiangsu Man Tuo Chemical, Jiangsu Wuying hot oil pump thermal oil, etc. With the gradual release of production capacity of local enterprises, my country’s thermal oil market size will reach 286,000 tons in 2022, a year-on-year increase of 12.5%.

However, due to technical limitations, currently domestic thermal oil products are still concentrated in the mid-to-low-end market. Compared with international advanced products, there is a large gap in technology, performance, quality, etc. The high-end thermal oil market still relies on imports. In recent years, as domestic companies have continued to increase their efforts in product research and development, some companies have mastered the key technologies of high-end heat transfer oil and realized domestic substitution. For example, Nanhua Company has realized domestic substitution of heat transfer oil in polyester equipment.

Industry analysts said that thermal oil is an important heat transfer medium and is used in petroleum, chemicals, and food. It is widely used in , medicine and other fields. In recent years, driven by the rapid development of the downstream market, my country’s thermal oil market demand has gradually increased, and it has become one of the world’s major consumers. However, domestic thermal oil products are mainly concentrated in the mid-to-low-end market, and high-end products still rely on imports. In the future, local companies will need to continue to accelerate the process of domestic substitution.