According to IMARC Group’s latest report, titled “Thermal Interface Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global thermal interface materials market size reached a value of US$ 3.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 5.5 Billion by 2028, exhibiting a growth rate (CAGR) of 9.4% during 2023-2028.
Thermal interface materials (TIMs) facilitate the transfer of heat between two or more surfaces. They are used to fill the microscopic gaps and irregularities between two components, such as a processor and a heat sink, to improve the thermal conductivity of the interface, increase the contact area, and enhance heat transfer. Compared to traditional thermal compounds, such as grease and paste, TIMs offer higher thermal conductivity and resistance, better reliability, and improved performance, due to which they are largely used across the electronics, automotive, aerospace, healthcare, and defense industries. Currently, they are available in pads, greases, adhesives, tapes, and phase-change materials.
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Thermal Interface Materials Market Trends:
Rapid industrialization, especially in emerging economies, and the increasing demand for consumer electronics across the globe are some of the key factors creating a positive outlook for the market. TIMs are used to manufacture compact, portable, energy-efficient, and durable light-emitting diode (LED) lights that are utilized in both residential and industrial sectors, which is acting as another growth-inducing factor. Moreover, automobile manufacturers are increasingly incorporating TIMs in music systems and interior automation components to minimize greenhouse gas (GHG) emissions and energy consumption, aligning with the trend of sustainability, which is favoring the market growth. Apart from this, the growing demand for miniaturized devices, rapid technological advancements, and the surging need for versatile and efficient TIMs are creating lucrative opportunities for the market growth.
Competitive Landscape with Key Players:
The report has also analysed the competitive landscape of the market with some of the key players.
- 3M Company
- Dow Inc.
- Henkel AG & Co. KGaA
- Honeywell International Inc.
- Indium Corporation
- Kitagawa Industries America Inc.
- Laird Technologies Inc.
- Momentive Performance Materials Inc.
- Parker-Hannifin Corporation
- Zalman Tech Co. Ltd.
Key Market Segmentation:
The report has categorized the market based on product type, application, and region.
Breakup by Product Type:
- Tapes and Films
- Elastomeric Pads
- Greases and Adhesives
- Phase Change Materials
- Metal Based Materials
Breakup by Application:
- Medical Devices
- Industrial Machinery
- Consumer Durables
- Automotive Electronics
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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