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Description: The client, who is a supplier of aromatic HTF fluid was struggling to expand its market share in the specialty application segment. The client needed to build a deeper understanding of competitive HTF material present in the market, their specification and the customer’s imperative to switch to a new supplier based on certain traits and benefits. The client was also interested in learning about the types of projects recently installed by their customers, with details of the timeline, investment cost, location, project details, etc., so that their sales and marketing team could make a focused effort to switch from incumbent to them.
YC shift: Global HTF industry is transforming both in terms of types of HTF and its application. The demand is shifting from traditional mineral oil and glycol-based HTF to synthetics and specialty types HTF (silicone-based, fluorinated, ionic, etc.). On the other hand, medium temperature applications have been shifting to high-temperature oriented applications for most customers. Lucrative segments in high-temperature applications are concentrated solar power and geothermal, data center cooling (requiring immersion cooling), vulcanization, pyro-processing, etc. Due to rising material handling costs and reduced efficiency factors at high temperatures, many customers are adopting synthetic-based HTF solutions such as silicone-based HTF rather than molten salt.
Unknown: Speciality HTF types like ionic fluid, synthetic aromatic fluid (Silicone-based), fluorinated fluids, and molten salt are currently growing at higher rates compared to traditional HTF types. Growing usage of molten salt (despite holding operational limitation) is an indicator of the growing demand for specialty applications requiring HTF, mainly due to their ability to perform the desired function over 300-degree centigrade.
RI created: MnM recommended the client to tap into the specialty application segment such as concentrated solar power and geothermal, data center cooling requiring immersion cooling, vulcanization, pyro-processing where it provided information related to currently used HTF, physical and chemical properties, and key suppliers, specification of HTF required, customer purchase criteria, winning imperative, key upcoming projects and adoption of technologies, etc. This resulted in the client building incremental revenues of $50 Mn over the next 5 years.
