Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Growth (Status and Outlook) 2026-2032

July 2026 | 78 pages | ID: G9744146FC7AEN
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Abstracts

The global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules market size is predicted to grow from US$ 100 million in 2025 to US$ 416 million in 2032; it is expected to grow at a CAGR of 22.8% from 2026 to 2032.

Dielectric fluid for two-phase liquid-cooled cold plate modules refers to a non-conductive coolant specifically designed for 'two-phase phase change cooling' systems. It rapidly removes the large amount of heat generated by high heat flux density chips such as GPUs, CPUs, AI accelerators, and power semiconductors through a boiling and evaporation process within the microchannels of the cold plate, transitioning from a liquid state to a gaseous state. The coolant is then re-liquefied in a condenser, forming a closed-loop cycle. These liquids typically possess characteristics such as low boiling point, high dielectric strength, high latent heat of vaporization, low viscosity, low surface tension, and excellent chemical stability. They mainly include HFE, HFO, PFPE, fluorocarbon liquids, and novel environmentally friendly fluorinated dielectric fluids, and can be widely used in AI servers, supercomputing centers, data centers, military electronics, electric vehicle power modules, and high-performance electronic heat dissipation.

The dielectric fluid industry chain for two-phase liquid-cooled cold plate modules mainly consists of three segments: upstream fluorochemical raw materials, midstream dielectric fluid synthesis and formulation, and downstream liquid cooling systems and end-user applications. The upstream sector includes suppliers of fluorochemical raw materials, HFO/HFE monomers, fluoropolymers, electronic-grade solvents, and fine chemicals; the midstream sector comprises dielectric fluid development and production companies, responsible for optimizing liquid formulations, insulation stability, phase change performance, and environmental performance; the downstream sector includes cold plate manufacturers, liquid-cooled server manufacturers, data center operators, and AI computing power companies, ultimately applying their solutions to AI training clusters, HPC supercomputing, cloud data centers, edge computing, and power electronics cooling in new energy vehicles.

With the rapid growth of generative AI, large-scale model training, GPU clusters, and high-density computing servers, traditional air cooling and single-phase liquid cooling are no longer sufficient to meet the heat dissipation requirements of chips with thermal design power (TDP) exceeding 1000W. Two-phase liquid-cooled cold plate dielectric fluids are gradually becoming an important direction for next-generation high-heat-fluidity heat dissipation. Compared to traditional cooling methods, two-phase dielectric fluids can achieve higher heat flux, lower PUE, smaller footprint, and lower energy consumption through 'boiling phase change,' making them particularly suitable for AI data centers, liquid-cooled supercomputing, advanced packaged chips, and high-power IGBT/SiC modules. With the increasing adoption of ultra-high power consumption GPU platforms such as NVIDIA Blackwell and Rubin, and the rising energy conservation and emission reduction requirements for data centers worldwide, the two-phase liquid cooling dielectric market will enter a phase of rapid growth. Meanwhile, environmental restrictions on PFAS are driving the industry to upgrade from traditional PFPE/Novec to low-GWP environmentally friendly HFO/HFE dielectrics. Domestic substitution and the development of new fluorinated liquids will also become important areas of competition in the future.

This report presents a comprehensive overview, market shares, and growth opportunities of Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules market by product type, application, key players and key regions and countries.

Segmentation by Type:

• Two-phase Phase Change Dielectric Fluid
• Two-phase Immersion Fluid
• Others

Segmentation by Boiling Point:

• Ultra-low boiling point (<40?C)
• Low boiling point (40~60?C)
• Medium boiling point (60~90?C)
• High boiling point (>90?C)

Segmentation by Application:

• Data Centers
• Power Electronics
• Military Electronics
• New Energy Vehicles
• Others

This report also splits the market by region:

• United States
• China%li%
• Europe
• Other regions
• Japan
• South Korea
• Southeast Asia
• Rest of world

The report also presents the market competition landscape and a corresponding detailed analysis of the major players in the market. The key players covered in this report:

• Chemours
• AGC Inc
• Juhua Group

Contents

1 SCOPE OF THE REPORT

1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered

2 EXECUTIVE SUMMARY

2.1 World Market Overview
  2.1.1 Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size 2026-2032
  2.1.2 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size CAGR by Region
2.2 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Segment by Type
  2.2.1 Two-phase Phase Change Dielectric Fluid
  2.2.2 Two-phase Immersion Fluid
  2.2.3 Others
  2.2.4 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type
    2.2.4.1 Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Type (2026-2032)
    2.2.4.2 Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth Rate by Type (2026-2032)
2.3 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Segment by Boiling Point
  2.3.1 Ultra-low boiling point (<40?C)
  2.3.2 Low boiling point (40~60?C)
  2.3.3 Medium boiling point (60~90?C)
  2.3.4 High boiling point (>90?C)
  2.3.5 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Boiling Point
    2.3.5.1 Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Boiling Point (2026-2032)
    2.3.5.2 Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth Rate by Boiling Point (2026-2032)
2.4 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Segment by Application
  2.4.1 Data Centers
  2.4.2 Power Electronics
  2.4.3 Military Electronics
  2.4.4 New Energy Vehicles
  2.4.5 Others
  2.4.6 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032)
    2.4.6.1 Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application (2026-2032)
    2.4.6.2 Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth Rate by Application (2026-2032)

3 DIELECTRIC FLUID FOR TWO-PHASE LIQUID-COOLED COLD PLATE MODULES KEY PLAYERS

3.1 Date of Key Players Enter into Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules
3.2 Key Players Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Product Offered
3.3 Key Players Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Funding/Investment Analysis
3.4 Funding/Investment
  3.4.1 Funding/Investment by Regions
  3.4.2 Funding/Investment by End-Industry
3.5 Key Players Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Valuation & Market Capitalization
3.6 Key Players Mergers & Acquisitions, Expansion Plans
3.7 Market Ranking
3.8 New Product/Technology Launches
3.9 Partnerships, Agreements, and Collaborations
3.10 Mergers and Acquisitions

4 DIELECTRIC FLUID FOR TWO-PHASE LIQUID-COOLED COLD PLATE MODULES BY REGIONS

4.1 Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Regions (2026-2032)
4.2 United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth (2026-2032)
4.3 China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth (2026-2032)
4.4 Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth (2026-2032)
4.5 Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth (2026-2032)

5 UNITED STATES

5.1 United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032)
5.2 United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032)

6 EUROPE

6.1 Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032)
6.2 Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032)

7 CHINA

7.1 China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032)
7.2 China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032)

8 REST OF WORLD

8.1 Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032)
8.2 Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032)
8.3 Japan
8.4 South Korea
8.5 Southeast Asia

9 MARKET DRIVERS, CHALLENGES AND TRENDS

9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends

10 KEY INVESTORS IN DIELECTRIC FLUID FOR TWO-PHASE LIQUID-COOLED COLD PLATE MODULES

10.1 Company A
  10.1.1 Company A Company Details
  10.1.2 Company Description
  10.1.3 Companies Invested by Company A
  10.1.4 Company A Key Development and Market Layout
10.2 Company B
  10.2.1 Company B Company Details
  10.2.2 Company Description
  10.2.3 Companies Invested by Company B
  10.2.4 Company B Key Development and Market Layout
10.3 Company C
  10.3.1 Company C Company Details
  10.3.2 Company Description
  10.3.3 Companies Invested by Company C
  10.3.4 Company C Key Development and Market Layout
10.4 Company D
10.5 ??

11 KEY PLAYERS ANALYSIS

11.1 Chemours
  11.1.1 Chemours Company Details
  11.1.2 Chemours Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Product Offered
  11.1.3 Chemours Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size (2025 VS 2031)
  11.1.4 Chemours Main Business Overview
  11.1.5 Chemours News
11.2 AGC Inc
  11.2.1 AGC Inc Company Details
  11.2.2 AGC Inc Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Product Offered
  11.2.3 AGC Inc Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size (2025 VS 2031)
  11.2.4 AGC Inc Main Business Overview
  11.2.5 AGC Inc News
11.3 Juhua Group
  11.3.1 Juhua Group Company Details
  11.3.2 Juhua Group Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Product Offered
  11.3.3 Juhua Group Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size (2025 VS 2031)
  11.3.4 Juhua Group Main Business Overview
  11.3.5 Juhua Group News

12 RESEARCH FINDINGS AND CONCLUSION

List Of Tables

LIST OF TABLES

Table 1. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size CAGR by Region (2026-2032) ($ millions)
Table 2. Major Players of Two-phase Phase Change Dielectric Fluid
Table 3. Major Players of Two-phase Immersion Fluid
Table 4. Major Players of Others
Table 5. Global Market Size by Type (2026-2032) ($ millions)
Table 6. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Type (2026-2032)
Table 7. Major Players of Ultra-low boiling point (<40?C)
Table 8. Major Players of Low boiling point (40~60?C)
Table 9. Major Players of Medium boiling point (60~90?C)
Table 10. Major Players of High boiling point (>90?C)
Table 11. Global Market Size by Boiling Point (2026-2032) ($ millions)
Table 12. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Boiling Point (2026-2032)
Table 13. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032) ($ millions)
Table 14. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application (2026-2032)
Table 15. Date of Global Key Players Enter into Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market
Table 16. Global Key Players Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Product Offered
Table 17. Key Players Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Funding/Investment (Million USD)
Table 18. Funding/Investment by Regions
Table 19. Funding/Investment by End-Industry
Table 20. Key Players Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Valuation & Market Capitalization (Million USD)
Table 21. Key Players Mergers & Acquisitions, Expansion Plans
Table 22. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules New Product/Technology Launches
Table 23. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Industry Partnerships, Agreements, and Collaborations
Table 24. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Industry Mergers and Acquisitions
Table 25. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Regions 2026-2032 ($ millions)
Table 26. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Regions 2026-2032
Table 27. United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032) ($ millions)
Table 28. United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Type (2026-2032)
Table 29. United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032) ($ millions)
Table 30. United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application (2026-2032)
Table 31. Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032) ($ millions)
Table 32. Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Type (2026-2032)
Table 33. Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032) ($ millions)
Table 34. Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application (2026-2032)
Table 35. China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032) ($ millions)
Table 36. China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Type (2026-2032)
Table 37. China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032) ($ millions)
Table 38. China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application (2026-2032)
Table 39. Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Type (2026-2032) ($ millions)
Table 40. Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Type (2026-2032)
Table 41. Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Application (2026-2032) ($ millions)
Table 42. Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application (2026-2032)
Table 43. Key Market Drivers & Growth Opportunities of Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules
Table 44. Key Market Challenges & Risks of Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules
Table 45. Key Industry Trends of Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules
Table 46. Company A Company Details
Table 47. Companies Invested by Company A
Table 48. Company A Key Development and Market Layout
Table 49. Company B Company Details
Table 50. Companies Invested by Company B
Table 51. Company B Key Development and Market Layout
Table 52. Company C Company Details
Table 53. Companies Invested by Company C
Table 54. Company C Key Development and Market Layout
Table 55. Chemours Basic Information, Head Office, Major Market Areas and Its Competitors
Table 56. Chemours Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size (2025 VS 2031)
Table 57. AGC Inc Basic Information, Head Office, Major Market Areas and Its Competitors
Table 58. AGC Inc Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size (2025 VS 2031)
Table 59. Juhua Group Basic Information, Head Office, Major Market Areas and Its Competitors
Table 60. Juhua Group Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size (2025 VS 2031)

List Of Figures

LIST OF FIGURES

Figure 1. Picture of Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules
Figure 2. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Report Years Considered
Figure 3. Research Objectives
Figure 4. Research Methodology
Figure 5. Research Process and Data Source
Figure 6. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Growth Rate 2026-2032 ($ millions)
Figure 7. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size by Region (2025 & 2032) ($ millions)
Figure 8. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Type (2026-2032)
Figure 9. Global Two-phase Phase Change Dielectric Fluid Market Size Growth Rate
Figure 10. Global Two-phase Immersion Fluid Market Size Growth Rate
Figure 11. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Boiling Point (2026-2032)
Figure 12. Global Ultra-low boiling point (<40?C) Market Size Growth Rate
Figure 13. Global Low boiling point (40~60?C) Market Size Growth Rate
Figure 14. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules in Data Centers
Figure 15. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market: Data Centers (2026-2032) ($ millions)
Figure 16. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules in Power Electronics
Figure 17. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market: Power Electronics (2026-2032) ($ millions)
Figure 18. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules in Military Electronics
Figure 19. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market: Military Electronics (2026-2032) ($ millions)
Figure 20. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules in New Energy Vehicles
Figure 21. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market: New Energy Vehicles (2026-2032) ($ millions)
Figure 22. Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules in Others
Figure 23. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market: Others (2026-2032) ($ millions)
Figure 24. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application (2026-2032)
Figure 25. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size in Data Centers Growth Rate
Figure 26. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size in Power Electronics Growth Rate
Figure 27. Funding/Investment
Figure 28. Global Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Regions 2026-2032
Figure 29. United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size 2026-2032 ($ millions)
Figure 30. China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size 2026-2032 ($ millions)
Figure 31. Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size 2026-2032 ($ millions)
Figure 32. Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size 2026-2032 ($ millions)
Figure 33. United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Consumption Market Share by Type in 2030
Figure 34. United States Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application in 2030
Figure 35. Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Consumption Market Share by Type in 2030
Figure 36. Europe Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application in 2030
Figure 37. China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Consumption Market Share by Type in 2030
Figure 38. China Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application in 2030
Figure 39. Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Consumption Market Share by Type in 2030
Figure 40. Rest of World Dielectric Fluid for Two-phase Liquid-cooled Cold Plate Modules Market Size Market Share by Application in 2030