Coherent Market Insights estimates that the global thermal interface materials market is estimated to be worth US$ 2,428 million by the end of 2022.It is expected that the market will reach $6 million in 2022 and exhibit a CAGR of 10 percent.During the forecast period (2023-2030), the percentage will be 98%. In addition to the rising demand from computer applications, the increased adoption of automation in the manufacturing sector has been driving the growth of the global market for thermal interface materials.. It is noteworthy that polymer compounds and microgels are gaining a significant amount of popularity in the market these days. As a result, there are several growth opportunities in the global market as a result of this
As a result, there are several growth opportunities in the global market as a result of this
Trends in the market
Increasing popularity of GAP-filling thermal interface materials is one of the major trends expected to drive the growth of the global thermal interface materials market in the future. GAP-filling TIMs are commonly used in applications that require the filling of small air gaps between mating surfaces, particularly in the micro-electronics field and in a wide variety of other small-scale assembly designs.. Typically, in such cases, the gap between a transistor or a hot chip and a metal heat sink is mostly on the order of microns. It is possible that these gaps are caused by a number of factors, such as uneven holes in the substrates, or rough mating surfaces.. As TIMs are able to fill the voids and offer a higher degree of contact between the mating surfaces of these mating surfaces, they are capable of reducing resistances such as these
As TIMs are able to fill the voids and offer a higher degree of contact between the mating surfaces of these mating surfaces, they are capable of reducing resistances such as these
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Takeaways from the market:
In the forecast period 2023-2030, the Global Thermal Interface Materials Market is expected to surpass US$ 5,590.08 million, growing at a CAGR of 10.98% due to the expansion of LED markets during the forecast period. Due to the growing demand for LED lighting, the demand for thermal interface materials is growing as well, which in turn will drive market growth.
In terms of product segmentation, the Greases & Adhesives segment is expected to hold a dominant position, owing to the fact that this product is widely used for maintaining the internal working temperatures of devices, as well as its high thermal resistance.
The Computers segment, based on Application, is expected to hold a dominant position in the market due to the increasing usage of computers in end-use offices, the affordable costs of desktops, which are causing an increase in demand for products from the market.
The Asia Pacific region is expected to hold the dominant position on the basis of region over the forecast period due to the presence of major electronic goods manufacturers in the region, an increasing economic growth, a reduction in service and goods taxes, an increase in disposable income, and an increase in health awareness.
A number of key players are operating in the thermal interface materials market, including Shin-Etsu Chemical Co. Ltd., The 3M Company, Fuji Polymer Industries, Co. Ltd., Dow Corning Corporation, Momentive Performance Materials, Inc., Honeywell International, Inc., Laird Technologies, Inc., Indium Corporation, Parker Chomerics, Henkel AG & Co., and KGaA, among others.
The following are the key developments in the market for thermal interface materials:
It was announced in January 2022 that 3M was expanding its operations in Tennessee. The company announced that it had invested nearly US$ 470 million in the project and that 600 new jobs would be created at the new plant in Clinton, Tennessee by 2025.
This product is a single component that has a dispensable material with the ability to provide thermal conductivity. Parker Hannifin Corporation has introduced THERM-A-GAP GEL 37 in September 2020. This new product is likely to strengthen the company's portfolio in the thermal interface material market.
You can read the complete market research report "Thermal Interface Materials Market, By Product, By Application, By Geography and Segment Forecast 2023 - 2030", published by Coherent Market Insights.
Market Segmentation of Thermal Interface Materials:
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