Top Players in the Thermal Interface Materials Market

Top Players in the Thermal Interface Materials Market

The global thermal interface materials market size reached US$ 3.5 Billion in 2023. As per the analysis by IMARC Group, the top players in the thermal interface materials market are making significant investments and continuous efforts in research and development (R&D) activities to launch innovative thermal interface materials (TIMs) with enhanced characteristics. This can be attributed to the new emerging TIM markets with specific requirements, which has prompted the key players to focus on product launches and innovations to meet the market needs. One such innovation is the use of pitch-based carbon fiber, graphite, and graphene that have excellent thermal conductivity and are also electrically conductive, which brings additional design considerations. In addition, since ceramics play a crucial role as thermally conductive dielectric fillers for TIMs, several ceramic advancements, such as the emergence of boron nitride nanotube (BNNTs) and nanosheets (BNNSs) that are isoelectronic to their CNT and graphene counterparts, are strengthening the market growth. Furthermore, the introduction of nanodiamonds and the ongoing developments in metal fillers and liquid metals are offering lucrative opportunities to the market players. Besides this, the leading players are focusing on acquisitions and mergers to expand their product reach and gain a competitive edge. Looking forward, the market to reach US$ 7.3 Billion by 2032, exhibiting a growth rate (CAGR) of 8.3% during 2024-2032.  

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Top Thermal Interface Materials (TIM) Manufacturers in the World:

3M Company 

Establishment: 1902 
Headquarter: St. Paul, Minnesota, United States    

The 3M company is a leading American corporation that manufactures and offers over 60,000 products, including adhesives, abrasives, medical products, consumer goods, and electrical and electronic components. The company has a diversified portfolio comprising thermal management materials and solutions, such as thermally conductive tapes, interface pads, epoxy, and greases. It has operations in around 70 countries and operates several brands and subsidiaries under its umbrella, such as 3M Japan Ltd., 3M India Ltd., Kinetic Concepts, Ivera Medical Corporation, and Aearo Technologies LLC. 

Dow Inc. 

Establishment: 1897 
Headquarter: Midland, Michigan, United States 

Dow Inc. is a global leader in silicon-based technology that offers a wide variety of thermal interface materials. Its industry-leading portfolio of thermally and electrically conductive silicones, plastics, industrial intermediates, and coatings delivers a wide variety of differentiated science-based products and solutions for its customers in high-growth market segments, including packaging, infrastructure, mobility, and customer care. It operates 106 manufacturing sites, sales, and customer service offices, and research and development laboratories in 31 countries across the globe. The company also operates several subsidiaries under its umbrella, including Dow Thames Limited, Dow Quimica Argentina S.R.L., and Performance Specialty Products Pakistan Pvt. Ltd. 

Henkel AG & Co. KGaA 

Establishment: 1876 
Headquarter: Düsseldorf, Germany 

Henkel AG & Co. KGaA is a leading German chemical and consumer goods company that operates globally with a well-balanced and diversified portfolio. It is primarily engaged in the producing, selling, distributing, and marketing of chemicals, adhesive technology solutions, and consumer goods. Bergquist is the most trusted brand on the market when it comes to thermal interface materials and thermal control expertise. Moreover, the company operates through three segments, namely adhesive technologies, beauty care, and laundry & home care, and has a diversified portfolio of adhesives and sealants, and functional coatings. Furthermore, it markets and sells these products under the brand names: Loctite, Technomelt, Bonderite, Teroson, and Aquence. 

Honeywell International Inc. 

Establishment: 1885 
Headquarter: Charlotte, North Carolina 

Honeywell International Inc. is an American multinational conglomerate corporation that primarily operates in four business areas, including aerospace, building technologies, performance materials and technologies, and safety and productivity solutions. The company has a broad portfolio of thermal interface materials (TIMs) that are designed to meet the evolving needs of the electronics industry. Its thermal management products include phase change materials (PCMs), thermal gap filler pads (TGPs), thermal putty pads, thermal insulators, thermal grease, and thermal one- and two-part hybrids. 

Indium Corporation 

Establishment: 1934 
Headquarter: Clinton, New York, United States 

Indium Corporation is a premier refiner, smelter, manufacturer, and supplier of materials to the global electronics, semiconductor, thin-film, and thermal management markets. It is a global leader in developing solder and metal-based thermal interface materials (TIM) for a wide range of applications. The company operates numerous manufacturing facilities and offices in China, Germany, India, Malaysia, Singapore, South Korea, the United Kingdom, and the USA. It has a diversified product portfolio comprising solders and fluxes; thermal interface materials; brazes; indium, gallium, germanium, tin metals, inorganic compounds; sputtering targets; and NanoFoil.


Establishment: 1990 
Headquarter: San Jose, California, United States 

KITAGAWA INDUSTRIES America, Inc. or KGS America (formerly known as Intermark USA), was established as the USA branch operation for KITAGAWA Industries Co., Ltd. based in Nagoya, Japan. Its product portfolio comprises EMC solutions, thermal interface materials, vibration and shock management gels, and plastic components. The company is primarily engaged in designing, developing, testing, and manufacturing high-quality products in its facilities. Some of its thermal interface materials (TIMs) are silicone-based, silicone-free, dual-functioning thermal pads, and special TIMs (which include ceramic heat sinks and thermal heat spreaders). 

Laird Technologies, Inc. 

Establishment: 1824 
Headquarter: Chesterfield, Missouri, United States

Laird is a leading company engaged in engineering industry-leading thermal and electro-magnetic solutions to protect electronic components and systems. Laird Performance Materials became part of DuPont's Electronics and Industrial segment on July 1, 2021. It has a diverse portfolio comprising EMI shielding and absorbing materials, thermal interface materials (TIMs), precision and structural metals, and integrated multi-functional solutions. The company owns and operates 11 engineering sites, testing labs, and production sites across the globe, serving the world’s largest and most prestigious manufacturers in a broad mix of industries, including automotive, telecommunications, data infrastructure, medical, consumer electronics, and aerospace and defense. Some of its TIMs include liquid gap fillers, specialty TIMs, thermal grease, thermally conductive printed circuit board (PCB), tape and adhesive, and thermally conductive and electrically isolating insulators. 

Momentive Performance Materials Inc. 

Establishment: 1857
Headquarter: Waterford, New York, United States

Momentive Performance Materials, Inc. is a premier global leader in silicones and advanced materials. The company offers basic siloxane polymers, along with an extensive portfolio of additives, such as silanes, specialty fluids, and urethane additives, as well as formulated products, including elastomers and coatings. It is one of the world’s largest producers of silicones and silicone derivatives, with operations in more than 17 countries across the globe. Some of its thermal management products include grease compounds, pastes, adhesives, encapsulants, potting compounds, liquid dispensed thermal pads, and high thermal gap fillers.  

Parker-Hannifin Corporation 

Establishment: 1917 
Headquarter: Cleveland, Ohio, United States 

Parker-Hannifin Corporation is a global leader engaged in manufacturing motion and control technologies and systems. It also provides engineered solutions for mobile, industrial, and aerospace markets. The company operates globally through the diversified industrial and aerospace systems segments and has operations in 55 countries across the globe. Moreover, it has a diverse portfolio of thermal interface materials, comprising thermally conductive attachment tapes, gels, greases, heat spreaders, pads, phase change materials, and cured-in-place plotting and underfill materials.  

Zalman Tech Co., Ltd. 

Establishment: 1999 
Headquarter: South Korea 

Zalman Tech Co., Ltd is a South Korean company that manufactures cooling solutions and peripheral components for computers. Its diversified portfolio comprises a wide range of PC coolers, PC cases, power supplies, and computer accessories. It also offers thermal interface materials (TIMs) such as superconducting thermal compounds and thermal greases. Over the years, the company has made significant contributions to the development of the PC industry through innovative technology and products in the computer cooling solution industry.


About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the thermal interface materials market, which has enabled clients to set up and expand their businesses successfully. Some of the company’s offerings include: 

  • Market Research 
  • Plant setup 
  • Plant Expansion 
  • Marketing and sales 
  • Procurement and Distribution 
  • Innovation and Product Development 

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