Thermal Interface Materials Market Overview
The global thermal interface materials market is projected to showcase strong growth in the coming years on account of the increasing demand for rapid heat dissipation solutions for miniaturized electrical devices and electronic gadgets, and light-emitting diodes (LEDs). With the increasing production of compact, miniaturized, and high-energy-density gadgets, there has been a surge in demand for solutions that can enhance the transfer of heat from the gadget chips to the heat sink, thus preventing the heat buildup and enhancing the life of the gadget. Thus, the market demand for thermal interface materials is projected to increase in the near future, which, in turn, would propel the market growth.
The thermal interface materials market has been categorized into silicone, epoxy, and polyimide on the basis of the chemistry of the material. Among these, silicone is expected to account for a significant share in the market throughout the forecast period (2021–2030). This can be ascribed to the superior properties of silicone, such as stability despite temperature variation, resistance to vibration & shock, stability under applied mechanical stress, and resistance to chemical attack.
The market has also been categorized on the basis of type into greases & adhesives, tapes & films, gap fillers, and others. Of these, the greases & adhesives category is expected to account for a significant share in the market throughout the forecast period, owing to the increasing usage of greases and adhesives as thermal interface materials in various applications such as mobile phones, personal computers, server central processing units, engine & transmission control modules, memory modules, and power conversion equipment. These materials find application in electronic equipment owing to their high thermal conductivity to maintain the temperature of the device and prevent it from getting overheated.
Geographically, Asia-Pacific (APAC) is expected to hold the largest share throughout the forecast period. This can be ascribed to the growing demand for thermal interface materials in various end-use industries, including telecom, consumer durables, and medical devices. In recent years, APAC has emerged as the largest manufacturing hub in the world, with significant growth in the transportation, packaging, pharmaceutical, food & beverages, construction, and electronics & telecommunication sectors, which has propelled the demand for thermal interface materials in the region.
Thermal Interface Materials Market Dynamics
Drivers
The market demand for thermal interface materials has witnessed strong growth in recent years, and the trend is likely to continue in the coming years, primarily on account of the increasing demand for the miniaturization and automation of electronic devices, including medical devices. With electronics becoming smaller, there are high chances of them to heat up easily, as the components are more concentrated. This increases heat density over the surface of the electronic equipment. Thermal interface materials are, therefore, needed to increase heat dissipation. Thus, the growing demand for electronic products has led to a rise in the application of these materials in the electronics industry, thereby driving the thermal interface materials market during the forecast period.
Restraints
The physical properties of thermal interface materials can sometimes be viewed as a challenge. These materials are introduced to fill the air gaps that build up between two surfaces in order to improve the heat transfer across the material; however, sometimes, due to any inappropriacy in their size, they may act as a hindrance blocking the heat transfer between two surfaces, thus compromising the thermal conductivity and performance of the material. This factor may restrain the growth of the thermal interface materials market to some extent.
Thermal Interface Materials Market Competitive Landscape
Some of the key companies operating in the global thermal interface materials market are Honeywell International Inc., The 3M Company, Henkel AG & Co. KGaA, Parker Hannifin Corporation, Dow Corning Corporation, Laird Technologies, Momentive Performance Materials, Indim Corporation, and Wakefield-Vette.
The study provides the historical as well as the forecast size of the thermal interface materials market.
Thermal Interface Materials Market Size Breakdown by Segments
The thermal interface materials market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Chemistry
Based on Type
- Greases & Adhesives
- Tapes & Films
- Gap Fillers
Based on Application
- Computer Hardware
- Telecom
- Automotive
- Industrial Machinery
- Medical Devices
Geographical Analysis
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Asia-Pacific (APAC)
- China
- India
- Japan
- South Korea
- Latin America (LATAM)
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
