According to the latest report by IMARC Group, titled “Thermal Interface Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global thermal interface materials market size reached US$ 2.87 Billion in 2021. Thermal interface materials (TIMs) are a category of products utilized to establish an effective thermal path between a heat-generating component and an attached heat-sink. They include a base material with added fillers to increase the thermal conductivity. They assist in filling the spaces between mating surfaces and addressing both heat transfer and mechanical fixation problems. Consequently, they find extensive applications in the manufacturing of communication and consumer devices, semiconductor packaging, power electronics and automobile components.
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Global Thermal Interface Materials Market Trends:
A considerable rise in the demand for consumer electronics represents one of the key factors strengthening the market growth. TIMs are widely used to manufacture portable, compact, energy-efficient, and durable light-emitting diodes (LEDs). Moreover, the widespread adoption of TIMs in the electronics industry, along with their incorporation in interior automation components and music systems to minimize energy consumption and greenhouse gas (GHG) emissions, are strengthening the growth of the market. Other factors, including technological advancements like the Internet of Things (IoT) and the development of nanodiamonds, are supporting the market growth. Looking forward, IMARC Group expects the market to grow at a CAGR of 9.7% during 2022-2027.
- Based on the product type, the market has been segmented into tapes and films, elastomeric pads, greases and adhesives, phase change materials, metal-based materials, and others. At present, greases and adhesives hold the largest market share.
- On the basis of the application, the market has been classified into telecom, computer, medical devices, industrial machinery, consumer durables, automotive electronics, and others. Presently, computers account for the majority of the total market share.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has been examined, with some of the key players being 3M Company, The Dow Chemical Company, Henkel AG & Co. KGaA, Honeywell International Inc., Indium Corporation, Kitagawa Industries America, Inc., Laird Technologies, Inc., Momentive Performance Materials Inc., Parker-Hannifin Corporation and Zalman Tech Co., Ltd.
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