The Global Electric Vehicle (EV) Thermal Management Fluids Market was valued at USD 1.2 Billion in 2023 and is projected to reach USD 3.8 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 18.4% during the forecast period (2024-2030). This explosive growth is driven by accelerating EV adoption, advancements in battery technologies, and stringent thermal efficiency requirements across global automotive markets.

As electric vehicles become mainstream, thermal management systems have emerged as critical components for battery safety, performance, and longevity. Specialized fluids now play a pivotal role in this evolving landscape. This analysis profiles the Top 10 Companies in the EV Thermal Management Fluids Industry – a mix of lubricant giants, chemical innovators, and thermal engineering specialists driving this transformative market.

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🔟 1. ExxonMobil Corporation

Headquarters: Irving, Texas, USA
Key Offering: Mobil EV Thermal Fluids Series

ExxonMobil leads the market with dielectric coolants that maintain optimal battery temperatures (-30°C to 60°C) while preventing electrical conductivity. Their solutions are certified for direct cooling systems used by major German and American automakers.

Key Innovations:

• 250+ global patents in EV thermal technologies
• Strategic partnerships with BMW and Tesla for fluid development
• Bio-based fluid formulations meeting EU sustainability standards

Download FREE Sample Report: Global Electric Vehicle (EV) Thermal Management Fluids Market – View in Detailed Research Report

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9️⃣ 2. Shell plc

Headquarters: London, United Kingdom
Key Offering: Shell E-Thermal Fluid Platform

Shell provides comprehensive thermal solutions covering battery packs, motors, and charging systems. Their fluids enable 20% faster charging while maintaining cell temperatures within ±2°C of ideal conditions.

Key Innovations:

• Industry’s first carbon-neutral EV coolant (2023 launch)
• Global supply agreements with Volkswagen Group

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8️⃣ 3. TotalEnergies

Headquarters: Paris, France
Key Offering: Quartz EV Thermal Fluids

TotalEnergies offers customized formulations that enhance thermal conductivity by 15-30% compared to conventional fluids. Their solutions extend battery life by reducing thermal stress during fast-charging cycles.

Key Innovations:

• Integrated heating/cooling solutions for extreme climates
• Exclusive supplier to multiple Chinese EV manufacturers

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7️⃣ 4. BP (Castrol)

Headquarters: London, UK
Key Offering: Castrol ON Battery Thermal Fluids

Castrol’s advanced dielectric fluids support 800V battery architectures with superior thermal stability. The company has invested $50 million in EV-specific testing facilities since 2021.

Key Innovations:

• Nano-enhanced heat transfer technology
• OEM approvals from Mercedes-Benz and Jaguar Land Rover

Download FREE Sample Report: Global Electric Vehicle (EV) Thermal Management Fluids Market – View in Detailed Research Report

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6️⃣ 5. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Glysantin EV Coolants

BASF’s non-conductive formulations prevent electrical current leakage even at 1000V+ systems. Their fluids meet stringent flammability standards while maintaining thermal efficiency across -40°C to 80°C.

Key Innovations:

• Pioneer in glycol-based battery coolants
• Custom solutions for Arctic and desert climates

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5️⃣ 6. Chevron Corporation

Headquarters: San Ramon, California, USA
Key Offering: Havoline EV-Therm Fluids

Chevron’s thermal management system reduces battery degradation by maintaining optimal 25°C±5°C operating temperatures. The company has testing partnerships with GM and Ford for next-gen fluids.

Key Innovations:

• 2023 launch of EV-specific fluid portfolio
• Patented corrosion inhibition technology

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4️⃣ 7. Fuchs Petrolub SE

Headquarters: Mannheim, Germany
Key Offering: FUCHS Renotherm EV Series

Fuchs provides non-conductive coolants specifically designed for cell-to-pack battery architectures. Their Asian market share grew 42% from 2020-2023 through partnerships with Korean battery makers.

Key Innovations:

• High-efficiency pump circulation formulations
• Regional production facilities in China and India

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3️⃣ 8. Croda International

Headquarters: Snaith, UK
Key Offering: ECOTERIC Additive Packages

Croda’s advanced additive technology enhances coolant performance while reducing energy consumption in circulation pumps by up to 18%.

Key Innovations:

• 100% bio-based additive formulations
• 5 patented viscosity modifiers

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2️⃣ 9. Petronas Lubricants International

Headquarters: Kuala Lumpur, Malaysia
Key Offering: Iona EV Thermal Fluids

Petronas specializes in fluids optimized for Southeast Asia’s tropical climate, with enhanced performance in high-humidity, high-temperature conditions.

Key Innovations:

• Advanced anti-corrosion technology
• Strategic partnerships with CATL and BYD

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1️⃣ 10. Valvoline Inc.

Headquarters: Lexington, Kentucky, USA
Key Offering: Valvoline EV Thermal Solutions

Valvoline focuses on the North American aftermarket with fluids supporting fast-charging infrastructure. The company is expanding its EV service network to 1,000+ locations by 2025.

Key Innovations:

• Quick-charge optimized formulations
• National accounts with EVgo and Electrify America

Get Full Report Here: Global Electric Vehicle (EV) Thermal Management Fluids Market – View in Detailed Research Report

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⚡ Outlook: The Thermal Management Revolution in EVs

The EV thermal fluids sector is undergoing rapid transformation as battery energy densities increase and charging times decrease. Effective thermal management has become essential for:

📈 Critical Market Trends:

• Shift from air-cooled to liquid-cooled battery systems requiring advanced dielectric fluids
• Emergence of immersion cooling technology for high-performance EVs
• Growing demand for sustainable, non-toxic fluid formulations
• Integration with predictive thermal management systems using AI

Get Full Report Here: Global Electric Vehicle (EV) Thermal Management Fluids Market – View in Detailed Research Report

The profiled companies are developing solutions that enhance EV range by 12-15%, improve battery life by 20-30%, and enable ultra-fast charging – critical factors in accelerating the global transition to electric mobility.