Surging demand for consumer electronics, rising demand for advanced technologies, and the growing adoption of energy-efficient solutions are key parameters fueling the thermal interface materials market growth.
Vancouver, British Columbia, Jan. 19, 2021 (GLOBE NEWSWIRE) -- The Global Thermal Interface Materials Market is foreseen to be valued at nearly USD 2.67 Billion by 2027, registering a robust 11.4% CAGR over the forecast timeline. The global thermal interface materials market is projected to record substantially high growth over the forecast period, primarily owing to factors like the increasing demand for thermal management for the smooth operation of electronic devices, surging implementation of these materials in the manufacture of different computer hardware components, consumer electronic products, telecommunications infrastructure, and various automotive components. The global market growth can be further attributed to the consistently rising demand for improved networking solutions, advanced computing technologies, state-of-the-art electronic devices, energy-efficient lighting solutions like LED lamps, and electrification of various transportation modes.
Thermal interface materials are generally inserted between two hard surfaces to conduct heat efficiently. These materials offer heat management solutions for modern electronic devices and improve their overall performance and durability. The materials are extensively used for their robust mechanical properties, such as thermal resistance, electrical insulation, material compatibility, and enhanced performance. The most common examples include thermal tapes, greases, solders, and elastomeric pads.
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Widespread commercial availability of thermal interface materials, coupled with their increasing applications in the electronics industry, is expected to bolster the growth of this market in the future. Suring penetration of mobile devices like smartphones and tablets, the emergence of Artificial Intelligence (AI) and the Internet of Things (IoT), mounting adoption of electric and hybrid vehicles, and growing focus on reducing energy consumption and greenhouse gas emissions are the other indispensable factors contributing to the global market growth. The emerging trend of automation has encouraged numerous companies worldwide to gradually integrate advanced automation technologies into certain electronic equipment. Moreover, demand for thermal interface materials in forms of dispensable gels, insulating pads, gap fillings, adhesive tapes, and greases has augmented significantly due to their high chemical resistance, toughness, tensile strength, and excellent thermal conductivity, which, in turn, has boosted the market growth.
Key findings of the report:
The IT & telecom industry has emerged as the leading market segment among the various end-user industries. The rising use of computers and various other electronic devices in this sector is a key parameter inducing the growth of this segment. The IT segment accounted for a significant market share of 21.78% in 2019 and is likely to flourish at a CAGR of 11.6 % over the forecast period.
Among the leading market regions, North America is the largest thermal interface materials market, with the highest revenue share. The region’s booming electronics industry, introduction of technologically advanced electronic devices, growing automotive and IT & telecom sectors, and surging demand for advanced equipment in the healthcare sector are pivotal factors accelerating the global market growth.
Major companies operating across the global thermal interface materials market include Bergquist Company, Henkel AG & Co. KGaA, Indium Corporation, Dow Corning, 3M, Parker Chomerics, Honeywell Internatrional Inc., Momentive Performance Materials Inc., Laird Technologies, and Zalman Tech Co., Ltd.
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For the purpose of this report, the global thermal interface materials market has been segmented, based on product type, application, end-user industry, and region:
Product Type Outlook (Revenue, USD Billion; 2017-2027)
Greases & Adhesives
Tapes & Films
Application Outlook (Revenue, USD Billion; 2017-2027)
Mobiles & Tablets
Laptops & Desktops
End-User Industry Outlook (Revenue, USD Billion; 2017-2027)
IT & Telecom
Consumer & Power Electronics
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Regional Outlook (Revenue, USD Billion; 2017-2027)
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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