Top 10 Companies in the Liquid Cooling Server Coolant Market (2026): Market Leaders Powering Data Center Efficiency

MARKET INSIGHTS

The global liquid cooling server coolant market was valued at USD 652.5 million in 2025 and is projected to reach USD 2.82 billion by 2034, exhibiting a compound annual growth rate (CAGR) of 17.8% during the forecast period.

Liquid cooling server coolants are specialized heat transfer fluids engineered to dissipate heat directly from high‑density computing hardware. These coolants are essential for immersion and direct‑to‑chip cooling systems, which are critical for managing the immense thermal loads generated by modern servers in data centers and high‑performance computing environments. The primary types of coolants include Electronic Fluorinated Fluid, which is dominant due to its superior dielectric properties, Mineral Oil, a cost‑effective option, and Water Formula Liquid, which is typically used in non‑conductive, indirect cooling loops.

The market’s robust growth is primarily fueled by the exponential increase in data generation and the proliferation of power‑intensive technologies such as artificial intelligence (AI) and high‑performance computing (HPC), which demand more efficient thermal management than traditional air cooling can provide. The push for greater energy efficiency and the reduction of PUE (Power Usage Effectiveness) in massive data centers is another significant driver. Furthermore, key industry players are actively advancing the market through innovations and partnerships. For instance, companies like 3M and Solvay continue to develop next‑generation fluorinated fluids with improved thermal conductivity and environmental profiles, while Chinese manufacturers like Zhejiang Juhua are expanding production capacity to meet regional demand.

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Top 10 Companies in the Liquid Cooling Server Coolant Market (2026)

🔟 1. 3M

Headquarters: Maplewood, Minnesota, USA
Key Offering: Novec® engineered fluids for immersion cooling

3M’s Novec® line is the industry benchmark for dielectric, non‑flammable coolants used in high‑density server racks. The company has invested heavily in R&D to improve thermal conductivity while reducing global warming potential.

Sustainability & Growth Initiatives:

• Development of low‑GWP fluorinated fluids.
• Partnerships with hyperscale data center operators for pilot projects.
• Expansion of manufacturing capacity in North America and Asia.

🟥 2. Solvay

Headquarters: Brussels, Belgium
Key Offering: Fluorinated dielectric coolants for immersion and plate‑type systems

Solvay’s advanced fluorinated chemistry delivers high heat transfer with low toxicity, positioning it as a preferred supplier for European and US data centers.

Sustainability & Growth Initiatives:

• Investment in green chemistry and renewable feedstocks.
• Collaboration with semiconductor manufacturers to co‑engineer custom coolants.
• Commitment to 30% reduction in carbon footprint by 2030.

🟧 3. AGC

Headquarters: Tokyo, Japan
Key Offering: Advanced dielectric fluids for high‑performance computing

AGC’s portfolio includes low‑viscosity, high‑thermal‑conductivity fluids tailored for two‑phase cooling systems.

Sustainability & Growth Initiatives:

• Development of biodegradable cooling agents.
• Strategic alliances with Japanese hyperscale operators.
• Targeted R&D in low‑energy consumption coolant formulations.

🟨 4. The Chemours Company

Headquarters: Wilmington, Delaware, USA
Key Offering: Fluorinated solutions for immersion cooling

As a DuPont spinoff, Chemours leverages extensive fluorine chemistry expertise to supply high‑performance coolants.

Sustainability & Growth Initiatives:

• Investment in recycling infrastructure for used fluids.
• Partnerships with data center operators for closed‑loop cooling pilots.
• Commitment to achieving zero hazardous waste by 2035.

🟦 5. Green Revolution Cooling (GRC)

Headquarters: Los Angeles, California, USA
Key Offering: Specialty dielectric fluids for immersion cooling

GRC focuses on delivering high‑performance, low‑toxicity fluids that meet strict environmental standards.

Sustainability & Growth Initiatives:

• Development of plant‑based fluorinated analogues.
• Collaboration with cloud service providers for large‑scale deployments.
• Targeted R&D for reducing energy usage in coolant manufacturing.

🟪 6. Lubrizol Corporation

Headquarters: Pittsburgh, Pennsylvania, USA
Key Offering: Advanced thermal management fluids for single‑phase and two‑phase systems

Lubrizol’s product line supports both immersion and plate‑type cooling with high thermal stability.

Sustainability & Growth Initiatives:

• Investment in low‑VOC formulations.
• Partnerships with OEMs to integrate coolants into next‑gen server chassis.
• Commitment to 25% reduction in lifecycle emissions by 2030.

🟫 7. Zhejiang Juhua

Headquarters: Zhejiang, China
Key Offering: Fluorinated and mineral oil coolants for large‑scale data centers

Juhua has rapidly scaled production to support China’s booming data center market.

Sustainability & Growth Initiatives:

• Investment in renewable energy for manufacturing.
• Collaboration with Chinese hyperscale operators for pilot projects.
• Development of low‑GWP fluorinated fluids.

🟪 8. Fluere

Headquarters: San Jose, California, USA
Key Offering: Specialty dielectric fluids for immersion cooling

Fluere focuses on high‑performance, environmentally safe coolants for emerging data center architectures.

Sustainability & Growth Initiatives:

• Development of bio‑based coolant additives.
• Partnerships with edge‑computing infrastructure providers.
• Commitment to 20% reduction in embodied carbon by 2032.

🟪 9. Shenzhen Capchem Technology

Headquarters: Shenzhen, China
Key Offering: Fluorinated and mineral oil coolants for high‑density computing

Capchem supplies a broad range of dielectric fluids tailored for Chinese and global markets.

Sustainability & Growth Initiatives:

• Investment in green chemistry labs.
• Collaboration with local data center operators for pilot deployments.
• Targeted R&D for reducing coolant viscosity.

🟪 10. Zhejiang Noah Fluorochemical

Headquarters: Zhejiang, China
Key Offering: Fluorinated dielectric fluids for immersion cooling

Noah Fluorochemical focuses on high‑performance, low‑toxicity coolants for hyperscale data centers.

Sustainability & Growth Initiatives:

• Development of low‑GWP fluorinated fluids.
• Partnerships with Chinese cloud service providers.
• Commitment to 30% reduction in lifecycle emissions by 2035.

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📈 Outlook: The Future of Liquid Cooling Server Coolant Market

The market is expected to maintain a strong CAGR of 17.8% through 2034, driven by the continuous growth of AI, HPC, and edge computing workloads. Data center operators will increasingly adopt immersion and two‑phase cooling to achieve PUE values below 1.1, thereby reducing operating costs and carbon footprints.

📊 Future Trends Shaping the Market

• Accelerated adoption of low‑GWP fluorinated fluids across all regions.
• Growth of edge‑computing data centers requiring compact, self‑contained liquid cooling solutions.
• Expansion of waste‑heat utilization programs, turning data centers into energy producers.
• Strategic alliances between coolant manufacturers and semiconductor companies to co‑engineer chip‑specific coolants.
• Increased regulatory focus on environmental safety, driving innovation in biodegradable and recyclable coolants.