The global thermal interface materials market size was estimated US$ 2.3 billion in 2021 and it is expected to hit US$ 5.25 billion by 2030, growing at a CAGR of 9.6% from 2022 to 2030.
The adding demand for automation and miniaturization of electronic devices, similar as mobile devices, touch screens& displays, and medical devices is a driving factor for the growth of the thermal interface materials market. As electronics become lower, they heat up fluently as the factors are more concentrated. This rises heat density over the electronic equipment surface. The growing demand for these electronic products worldwide has led to an increase in the consumption of TIMs in the electronics market.
- On the basis of the type, the market is segmented as greases & bonds, videotapes & flicks, gap paddings, essence- grounded thermal interface accoutrements, phase change accoutrements, and others. The phase change accoutrements segment is estimated to be the swift- growing segment in the coming five times. The growth is credited to their specific parcels, similar as good captain of capability in order to melt as the temperature increases and remain solid at room temperature.
- On the basis of the application type, the market is segmented as computers, telecom, medical devices, artificial ministry, consumer durables, automotive electronics, and others. The medical devices segment is likely to be the swift- growing segment during in the forthcoming time period. In addition, the electronic devices utilized in medical market need proper thermal operation. The operative thermal operation accords supernumerary heat to be slightly spread, resourcefully moved, and adequately dissipated. This progresses system services and responsibility lifetime of electronic devices in the medical sector. Several medical accoutrements impact the progressive microprocessor’s computing power. These comprise of X-ray machines, ultrasound equipment, spotlights, and digital imaging know- approaches. These devices tolerate appropriate thermal administration as the fat heat can result in breakdowns.
- In terms of regions, Asia-Pacific is anticipated to remain the largest market share 40% for thermal interface accoutrements in the coming five times. The market is driven by the growing demand from numerous end- use diligence, similar as telecom and consumer electronics in the region. Furthermore, the demand for better telecom devices and consumer electronics is fueling the market growth. Europe and North America are also anticipated to offer substantial growth during the cast period.
Scope of the Report
|Mrket Size in 2021
||USD 2.3 Billion
|Revenue Forecast by 2030
||USD 5.25 Billion
|Growth Rate from 2022 to 2030
||CAGR of 9.6%
||2022 to 2030
Future of Thermal interface material market
Thermal operation is of very high significance in electric vehicles as these vehicles have large energy storage budgets. Apart from electric vehicles, conventional motorcars too incorporate sophisticated electronics. An average hydrofoil vended moment has 100% further electronic factors compared to an analogous model sold more than a decade. Therefore, as vehicles incorporate further electronic and electrical factors, the part of TIMs will come increasingly important.
COVID-19 Impact Analysis:
- The TIMs market has seendrop in demand, however, this drop have been observed for a short time duration of the year 2020.
- In addition, the sale of laptops, computers, smartphones and video games has surged as companies are switching towards the policy of work from home.
- The demand for consumer durables has surged as people are staying in home and thus demanding individual consumer electronics.
- Amid the pandemic, the demand for TIMs in medical equipment has raisedowing to sudden increase in demand for medical machinery.
Key Developments in the Marketplace:
- In February 2020, the key player named Henkel prolonged its material portfolio of thermal interface with the introduction of BERGQUIST GAP PAD TGP 10000ULM. In addition, this product is further intended to accept the challenges of high power density associated with consumer mobility designs and new telecom infrastructure of 5G.
- In October 2019, the key player named Parker Hannifin finished its acquisition process with LORD Corporation Company which is a leading producer of advanced coatings and adhesives, as well as motion and vibration control technologies.
- In March 2019, the key player named Indium Corporation launched a new product named the m2TIMTM, which is a new & unique material of solid/liquid hybrid thermal interface. Further, this material is designed to deliver conductivity to ultra-reliable thermal for heat dissipation.
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