Immersion Cooling Fluids Market size was valued at USD 2,189.3 million in 2022 and is poised to grow at a significant CAGR of 8.5% over 2023-2029. Electronic equipment and IT components, such as complete servers and storage devices, are submerged in a thermally conductive but electrically insulating dielectric liquid or coolant during immersion cooling, a thermal management technique frequently employed in IT cooling. Heat is removed from the system by directly contacting the relatively cold liquid with hot components and transferring the heated liquid through excellent heat exchangers. Immersion cooling has recently become a standard method of producing usable heat, especially for bitcoin mining. In a chilly location, one ASIC miner can make ultra-high-efficiency electric heat conversion that is enough to heat an entire house. Based on the cooling fluid, the global immersion cooling fluids market is segmented into Mineral Oil, Synthetic Fluids, Fluorocarbon-based Fluids, and Others.The mineral oil segment is anticipated to grow at a significant CAGR over the forecast years owing to mineral oil is a by-product of refining crude oil to make gasoline and other petroleum products. These mineral oil types are frequently supplied by oil refineries without any additional processing, qualification, or quality control and are mostly made up of alkanes and cycloalkanes. Mineral oil is more effective than conventional air-cooling systems, which facilitates facility design and reduces costs. Since it is clear and oily and has a high boiling point, mineral oil is employed as a single-phase dielectric. The increasing need for sustainable cooling solutions, increasing government initiatives for carbon-neutral and energy-efficient data centers, and high investment with greater capital expenditure are a few factors driving the industry's growth over the forecasting period.

Immersion Cooling Fluids Market Key Developments:
In November 2019 – Asperitas and Green Revolution Cooling collaborated to eliminate the misconceptions about data center immersion cooling. This collaboration educates people about the benefits of high-density applications and enables efficient data center operations. The partnership has developed a new vendor-agnostic website to inform the operators about immersion and technical issues with liquid cooling.