Thermal Interface Materials Market To Advance At CAGR Of 11.4% From 2022 To 2030
Thermal Interface Materials Industry Overview
The global thermal interface materials market is projected to reach USD 4.86 billion by 2030, expanding at a compound annual growth rate (CAGR) of 11.4% during the forecast period, according to a new report by Grand View Research, Inc. The increasing use of electrical equipment and electronic gadgets is expected to boost the market for thermal interface materials during the forecast period.
Thermal Interface Materials Market Segmentation
Grand View Research has segmented the Thermal Interface Materials market based on product, application, and region:
Based on the Product Insights, the market is segmented into Tapes and films, Elastomeric Pads, Greases and Adhesives, Phase change materials, Metal-Based, Others.
Thermal greases and adhesives led the market with a share of over 34.2% in 2021, owing to their widespread usage in consumer products and high thermal resistance.
The elastomeric pads are expected to have a significant share in the market on account of their easy assembly as compared to greases. The handling mechanism is also improved with elastomeric pads as fewer chances of weakening the interface resistance exist.
Compared to other product segments, phase change materials are expected to have a high compounded annual growth rate of 11.8%. As the demand for cooler buildings grows, it finds its most common application in construction.
Elastomeric pads are expected to register significant growth during the forecast period, owing to their easy handling and installation techniques used for thermal conductivity in electrical and electronic components.
These interface materials are majorly used for applications of indispensable gels, gap filling and insulating pads, adhesive tapes, and greases.
Based on the Application Insights, the market is segmented into Telecom, Computer, Medical devices, Industrial machinery, Consumer Durables, Automotive Electronics, Others.
The computers application segment accounted for a significant share of over 24.5% in 2021 on account of increasing utilization in office end-use. The affordable prices of desktops have revolutionized the demand and supply of the product.
The telecom application segment for product utilization is expected to witness significant demand in the estimated time, owing to the increasing preference for a digital and cashless economy. The banks, e-commerce, utilities, and media are reliant on the telecom industry for their business and are its lifeline.
Higher thermal insulation, dissipation, and conductance are all challenges in medical electronics and other industries, and the products address them. Polymer matrix composites, metal matrix composites, and carbon composites are the three broad categories.
The material’s other application is found in medical devices, industrial machinery, consumer durables, and automotive electronics, among others. Additionally, the advanced cockpit technology makes the material ideal for aerospace components.
Thermal Interface Materials Regional Outlook
Central & South America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The global thermal interface materials market is characterized by the presence of multiple small and large-scale manufacturers. To cater to the value chain aspects of their business, the companies have considered diversifying and integrating their business processes.
Some prominent players in the global thermal interface materials market include
The 3M Company
The Dow Chemical Company
Honeywell International Inc.
Order a free sample PDF of the Thermal Interface Materials Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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