Description

The global thermal interface materials market is expected to grow from USD 3.1 billion in 2021 to USD 7.4 billion by 2030, at a CAGR of 10.2% from 2022 to 2030. The thermal interface material market is expanding rapidly due to rising demand for electronic device downsizing, the growing LED industry, and increased use of TIMs in end-use industries. Increased demand for high-quality electronic goods as a result of new consumer electronics launches and technological advancements is expected to drive the demand for thermal interface materials. Furthermore, rising demand for cutting-edge technical devices and specialty electronics for high-end operations is estimated to boost the market throughout the forecast period.

Thermal Interface Materials (TIM) are intermediate materials placed between the heat sink and the devices to improve thermal transmission to the heat sink. They are utilized in various electronic applications, including electric cars, CPUs/Desktops, cellphones, tablets, architectural and industrial lighting, and many others. Demand from major end-user sectors such as consumer electronics is a primary driver for this business. Tapes and films, phase transition materials, gap fillers, greases and adhesives, metal-based TIMs, and other types of thermal interface materials are commercially available.

COVID-19 Impact on the Global thermal interface materials Market

The TIMs market has experienced a drop in demand however, it has been briefing in comparison to other key industries. Teleconferencing and remote working technologies are becoming more popular, indicating growth in the telecom sector. The sale of PCs, laptops, video games, and smartphones has increased as more organizations implement work-from-home policies. People who stay at home want individual consumer gadgets for personal use, which has raised the demand for consumer durables. During the pandemic, demand for TIMs in medical equipment increased because of the rapid increase in demand for medical machinery.

Global Thermal Interface Materials Market Dynamics

Drivers: The rising proliferation of electronic devices

Overheating is a key risk for most major industries' next-generation electronics. Many electronic component production trends have also focused on device miniaturization, further challenging high-performance cooling. TIMs are fundamental in resolving the thermal constraints of contemporary electronic assembly designs. They enhance the thermal interaction between heat-generating electronics and cooling components, thus, increasing power capacity and solidity while minimizing the overall cost of the finished assembly. It is an ideal material that adapts to mating surfaces, wets out throughout the substrate, and is as thin as possible. These materials are an essential component of any thermal management system. It's an easy component to overlook because it's a minor fraction of most applications.

Restraints: physical qualities limit its performance

On the other hand, thermal interface material can make or break a device and its associated product. TIMs are inserted into the joint to fill air gaps and are a crucial component of an assembly when solid surfaces are joined together to reduce contact resistance. Although the introduction of TIMs improves heat transport across an interface, it is commonly acknowledged that TIMs also account for the majority of the thermal resistance of a system.

Opportunities: The increasing trend for electrical device miniaturization

The growing demand for miniaturization and mechanization of electronic products such as mobile phones, touch screens and screens, and medical equipment is propelling the TIMs market. As electronics become smaller, the components become more concentrated, causing them to overheat. This raises the heat density on the surface of the electrical equipment. Heat dissipation requires the use of TIMs. The expanding global demand for these electronic items has increased the usage of TIMs in the electronics sector.  

Scope of the Report

The study categorizes the global thermal interface materials market-based chemistry, type, applications at the regional and global levels.

By Chemistry (Revenue, USD Billion, 2017-2030)

• Silicone
• Epoxy
• Polyimide
• Others (Acrylics, Polyurethanes, and Cyanate Esters)

By Type (Revenue, USD Billion, 2017-2030)

• Greases & Adhesives
• Tapes & Films
• Gap Fillers
• Metal-Based TIMs
• Phase Change Materials
• Others (Elastomeric Pads/Insulators and Thermal Compounds)

By Application (Revenue, USD Billion, 2017-2030)

• Computers
• Telecom
• Consumer Durables
• Medical Devices
• Industrial Machinery
• Automotive Electronics
• Others

By Region (Revenue, USD Billion, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • the Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The silicone segment of the global thermal interface materials market is projected to account for the highest share in the global market

The global thermal interface materials market is segmented into epoxy, silicone, polyimide, and others based on the chemistry. Among them, silicone is expected to showcase high growth potential in the thermal interface material market across the globe owing to its outstanding qualities such as temperature fluctuation stability, vibration and shock resistance, mechanical stress stability, and chemical attack resistance, thereby augmenting the segmental growth.

Asia-Pacific accounts for the highest CAGR during the forecast period in the global thermal interface materials market

Asia-Pacific is estimated for the highest CAGR during the forecasting period in the global thermal interface materials market in the upcoming years. Four main countries, namely, China, India, Japan, and the Rest of Asia-Pacific, are analyzed in Asia-Pacific. Owing to its rapid industrialization, rising per-capita income, growing population, internet user base, and development of end-use industries. These are some major factors contributing to the growth of the thermal interface material market in this region.

Key Market Players

Major players in the market are:

• 3M
• Henkel AG & Co. KgaA
• Honeywell International Inc.
• Parker Hannifin Corporation
• Dow Corning Corporation
• Laird Technologies
• Momentive Performance Materials
• Indim Corporation
• Wakefield-Vette

Recent Developments

• In April 2021, The Chomerics division of Parker Hannifin Corporation launched THERM-A-GAP GEL 75, a 7.5 W/m-K single component dispensable thermal interface material for high-performance applications. With the introduction of this thermal interface material, the company has expanded its product portfolio and has significantly increased its position in the growing market era.
• In July 2020, Dow introduced the new DOWSIL TC-3065 Thermal Gel, a thermally conductive gel that helps in dissipate high amounts of heat from sensitive electronic components. This gel allows automatic dispensing and heats curing after assembly to gain high levels of manufacturing efficiency.

Key Issues Addressed

• What is the market size by various segmentation of the global thermal interface materials by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the global thermal interface materials market?
• What are the key opportunities and trends for manufacturers involved in the global thermal interface materials supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of global thermal interface materials in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.