The Global Heat Transfer Fluids for Semiconductor Processes Market was valued at US$ 398.77 Million in 2022 and is projected to reach US$ 627.54 Million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period (2023–2029). This robust growth is fueled by the exponential demand for semiconductors, the rapid expansion of data centers, and the critical need for precise thermal management in advanced electronics manufacturing. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.

As the semiconductor industry pushes the boundaries of miniaturization and power density, effective heat dissipation has become a non-negotiable aspect of production and reliability testing. In this high-stakes environment, specialized heat transfer fluids are essential. In this blog, we profile the Top 10 Companies in the Heat Transfer Fluids for Semiconductor Processes Industry—a group of chemical innovators and material science leaders ensuring the thermal stability and performance of the world’s most advanced electronics.

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🔟 1. 3M Company

Headquarters: Maplewood, Minnesota, USA
Key Offering: 3M™ Fluorinert™ Electronic Liquids, 3M™ Novec™ Engineered Fluids

3M is a global leader in engineered fluids, with its Fluorinert and Novec brands being industry standards for single-phase and two-phase liquid cooling in semiconductor manufacturing and testing. These fluids are renowned for their excellent dielectric properties, thermal stability, and environmental profile.

Innovation Initiatives:

• Pioneering low global warming potential (GWP) fluids to replace older PFAS chemistries

• Developing tailored solutions for high-performance computing and immersion cooling

• Commitment to sustainable chemistry and responsible product stewardship

Download FREE Sample Report: Heat Transfer Fluids for Semiconductor Processes Market – View in Detailed Research Report

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9️⃣ 2. Solvay S.A.

Headquarters: Brussels, Belgium
Key Offering: Galden® PFPE, Fomblin® PFPE Fluids

Solvay is a key global supplier of high-performance perfluoropolyether (PFPE) fluids, sold under the Galden and Fomblin brands. These fluids offer exceptional thermal stability (exceeding 200°C), chemical inertness, and non-flammability, making them ideal for demanding semiconductor process applications like wafer cleaning and temperature control in etching tools.

Innovation Initiatives:

• Investment in high-purity PFPE production to meet semiconductor industry standards

• Focus on closed-loop systems to enhance sustainability and reduce fluid consumption

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8️⃣ 3. The Chemours Company

Headquarters: Wilmington, Delaware, USA
Key Offering: Freon™, Vertrel™, and Opteon™ Specialty Fluids

Chemours, spun off from DuPont, possesses a strong legacy in fluoroproducts. Its Vertrel line of specialty solvents and heat transfer fluids is critical in precision cleaning and thermal management for semiconductor fabrication equipment, known for rapid drying and high solvency power.

Innovation Initiatives:

• Developing next-generation, sustainable fluorinated fluids with improved environmental profiles

• Collaborating with OEMs to optimize fluid performance in advanced node semiconductor tools

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7️⃣ 4. Daikin Industries, Ltd.

Headquarters: Osaka, Japan
Key Offering: Daikin Fluorochemicals (Heat Transfer Fluids)

Daikin, a global leader in air conditioning, is also a major producer of fluorochemicals. The company supplies high-performance heat transfer fluids used in the temperature control units (chillers) that are integral to maintaining precise thermal conditions in semiconductor fabs across Asia and globally.

Innovation Initiatives:

• R&D into non-flammable, low-toxicity fluids for safer fab operations

• Expanding production capacity to meet soaring demand from the Asian semiconductor sector

Download FREE Sample Report: Heat Transfer Fluids for Semiconductor Processes Market – View in Detailed Research Report

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6️⃣ 5. Arkema S.A.

Headquarters: Colombes, France
Key Offering: Forane® Fluids, Rombinol® Heat Transfer Fluids

Arkema offers a range of fluorinated gases and heat transfer fluids under its Forane brand. These products are used in various industrial cooling applications, including supporting the thermal management systems within semiconductor manufacturing facilities, particularly in the European market.

Innovation Initiatives:

• Developing hydrofluoroolefin (HFO) -based fluids as lower-GWP alternatives

• Focusing on energy-efficient formulations to reduce the carbon footprint of chip manufacturing

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5️⃣ 6. Honeywell International Inc.

Headquarters: Charlotte, North Carolina, USA
Key Offering: Solstice® Ze (R-1234ze), Genetron® Hydrofluoroolefin (HFO) Fluids

Honeywell is a leading developer of low-global-warming-potential HFO technologies. Its Solstice Ze fluid is increasingly adopted for temperature control applications where a non-flammable, low-GWP solution is required, aligning with the semiconductor industry’s sustainability goals.

Innovation Initiatives:

• Leading the transition to fourth-generation low-GWP blowing agents and refrigerants

• Strategic partnerships with chemical distributors to ensure global supply chain reliability

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4️⃣ 7. Liquid Cooled Solutions (LCS)

Headquarters: Northampton, United Kingdom
Key Offering: Dielectric Coolants, Immersion Cooling Fluids for Electronics

Liquid Cooled Solutions specializes in dielectric heat transfer liquids designed for direct immersion cooling of high-density electronics. This technology is gaining traction in cooling powerful semiconductor test equipment and is crucial for next-generation data centers.

Innovation Initiatives:

• Custom formulation of biodegradable and non-toxic dielectric fluids

• Pioneering two-phase immersion cooling systems for extreme heat flux dissipation

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3️⃣ 8. Shin-Etsu Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Silicon-based Heat Transfer Fluids

As a giant in silicon products, Shin-Etsu also produces silicone-based heat transfer fluids. These fluids offer a wide operating temperature range and good thermal stability, making them suitable for specific applications within the semiconductor supply chain, such as in PCB manufacturing and component testing.

Innovation Initiatives:

• Leveraging expertise in high-purity silicones for electronics-grade applications

• Focus on reliability and long fluid life for cost-effective thermal management

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2️⃣ 9. Eastman Chemical Company

Headquarters: Kingsport, Tennessee, USA
Key Offering: Therminol® and Marlotherm® Heat Transfer Fluids

Eastman’s Therminol and Marlotherm brands represent a broad portfolio of synthetic organic heat transfer fluids. While used across many industries, their high-temperature stability and excellent heat transfer coefficients make them applicable for specific processes supporting semiconductor equipment manufacturing.

Innovation Initiatives:

• Developing fluids with enhanced oxidation resistance for longer service life

• Providing technical support for system design and fluid maintenance

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1️⃣ 10. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: Glytherm® and Sythterm® Heat Transfer Fluids

BASF, the world’s largest chemical producer, offers a range of heat transfer fluids under its Glytherm and Sythterm brands. These fluids are used in secondary cooling loops and process temperature control systems that can be found in the utility infrastructure of large semiconductor fabrication plants.

Innovation Initiatives:

• Investment in sustainable product lines with a focus on circular economy principles

• Global production network ensuring supply security for major industrial clients

Get Full Report Here: Heat Transfer Fluids for Semiconductor Processes Market – View in Detailed Research Report

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🌍 Outlook: The Future of Semiconductor Heat Transfer Fluids Is Smarter and More Sustainable

The heat transfer fluids market for semiconductor processes is at a pivotal juncture. While high-performance fluorinated fluids currently dominate, the industry is aggressively investing in next-generation formulations that balance extreme performance with environmental responsibility and digital integration.

📈 Key Trends Shaping the Market:

• Accelerated adoption of immersion cooling for AI servers and high-power chips

• Regulatory pressure driving the shift from traditional PFAS to low-GWP, sustainable alternatives

• Integration of IoT sensors for real-time fluid condition monitoring and predictive maintenance

• Close collaboration between fluid manufacturers and semiconductor OEMs to co-develop application-specific solutions

Get Full Report Here: Heat Transfer Fluids for Semiconductor Processes Market – View in Detailed Research Report

The companies listed above are not only enabling the production of cutting-edge semiconductors—they are actively shaping the thermal management strategies that will underpin the future of electronics.