The global Thermal Interface Materials market is forecast to reach USD 2.67 Billion by 2027, according to a new report by Reports and Data. The global market for thermal interface materials sees substantial growth attributed to the increasing demand in thermal management to ensure the smooth operation of electronic equipment. Also, growing demand is due to its implementation in sectors such as computer hardware, electrical electronics, telecommunications, and automotive. The market for thermal interface materials is motivated primarily by improved networking, quicker computing, and expanded knowledge of energy-efficient lighting solutions in the form of LED lamps, trendy electrical devices, and transportation mode electrification.
Demand development is also driven by technological innovation, increasing use of the Internet of Things (IoT), and growing demand for advanced electronics through numerous industries. Also, in line with the global innovation trend, car producers are gradually choosing electric vehicles to raise energy consumption and greenhouse gas emissions, which in turn will fuel demand. However, with the emerging popularity of automation, companies are gradually integrating electrical and electronic equipment. Thus thermal management has become much more relevant, which is another crucial factor for the growth in demand.
Because of its thermal conductivity feature, which helps to improve the life and performance of the electronic system or the devices where it finds its use, the product is supposed to make substantial benefits. Usually, the substance consists of conductive materials such as rubber, metal oxides, or plastics.
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Thermal grease and adhesives are commonly used in the electronics industry to enhance heat transfer between electronic components and heat sinks. However, these materials can create a thin, fragile bond line that can increase thermal resistance and decrease the efficiency of heat transfer.
Despite this potential issue, the segment of thermal grease and adhesives still accounts for a significant market share in the global market. This is likely due to their effectiveness in improving heat transfer, as well as their ease of use and versatility in a wide range of electronic applications.
The tape and filament segment is another popular category within the thermal management materials market. These materials are typically used to secure electronic components and heat sinks in place, providing additional mechanical support in addition to thermal management benefits.
Top Companies Operating in the Thermal Interface Materials Market:
Henkel AG Co. KGaA, Bergquist Company, Indium Corporation, Parker Chomerics, Dow Corning, 3M, Honeyweel Internatrional Inc., Laird Technologies, Momentive Performance Materials Inc., and Zalman Tech Co., Ltd., among others.
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The global market is further segmented into type and application:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Tapes Films
- Elastomeric Pads
- Greases Adhesives
- Phase Change Material
- Metal-Based
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Mobiles Tablets
- Laptops Desktops
- Electric Vehicles
- Data Centers
- GaN Semiconductors
- LEDs
- Others
End-use Industry Outlook (Revenue, USD Billion; 2017-2027)
- IT
- Telecom
- Medical
- Automotive Power Electronics
- Consumer Electronics
- Industrial
- Chemical
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further key findings from the report suggest
- The growth in the use of electronics in various industries is expected to raise the significance of computers other electrical appliances. The IT segment represented a market share of 21.78% in terms of revenues in 2019 and is expected to rise to a CAGR of 11.6 %.
- Because of its highly established Sales Channel sectors, sophisticated manufacturing capacities, combined with a highly skilled workforce and increasing RD initiatives, the U.S. is among the leading countries in the industry. Developing products and high competition enable manufacturers to focus on emerging technology to grow the market.
- The Asia Pacific driven by China, India, and Japan's production volume may record improvements to reach 35.65% by 2027, related to the growing industrialization along with the development of the automotive and IT sectors.
- Manufacturers differentiate their goods based on quality and price, taking into account such factors as consistency and purity level. Insufficient supply than its demand is prone to higher commodity prices over the forecast period.
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Overall, the thermal management materials market is an important segment of the electronics industry, with a wide range of applications in various electronic devices and systems. As technology continues to advance and electronic components become increasingly powerful and compact, the need for effective thermal management solutions will only continue to grow.
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