The global thermal interface materials market size is expected to grow from $1.97 billion in 2021 to $2.17 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The growth in the market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The thermal interface material market is expected to reach $3.40 billion in 2026 at a CAGR of 11.8%.
What is the Global Thermal Interface Materials Market?
The thermal interface materials market consists of sales of thermal interface materials and related services by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling thermal interface materials such as thermal tapes, greases, elastomeric pads, and solders. Thermal interface materials are made from conducting materials such as metals, silicon, and metal oxides and are applied between hard surfaces for conducting heat. Thermal interface materials find their applications mainly in electronics, medical devices, and industrial machinery. Only goods and services traded between entities or sold to end consumers are included.
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What drives the Global Thermal Interface Materials Market?
The increasing demand for electronic devices is anticipated to boost the demand for the thermal interface materials market over the coming years. Growing usage of thermal interface materials in electronic devices such as tablets, computers, smartphones, and video games attributing to its thermal conductive properties that help in strengthening the efficiency and life of electronic devices, is expected to contribute to the market growth. According to the India Brand Equity Foundation (Ministry of Commerce & Industry, Government of India), the Indian appliance and consumer electronics (ACE) market reached $10.93 billion in 2019 and is projected to double to reach $21.18 billion by the end of 2025. Therefore, the surge in demand for electronics devices and appliances is expected to generate higher revenues for the thermal interface materials market.
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Global Thermal Interface Materials Market Segments
The global thermal interface materials market is segmented:
By Type: Greases and Adhesives, Tapes and Films, Gap Fillers, Metal-Based TIMs, Phase Change Materials, Others
By Chemistry: Silicone, Epoxy, Polyimide, Others
By Application: Telecom, Computer, Medical Devices, Industrial Machinery, Consumer Durables, Automotive Electronics, Others
By Geography: The regions covered in the thermal interface materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Thermal Interface Materials Global Market Report 2022provides market size and growth forecasts for the global thermal interface materials market, global thermal interface materials market share, thermal interface materials market segments and geographies, thermal interface materials market competitive landscape including leading competitors’ revenues, profiles and market shares. The thermal interface materials market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Thermal Interface Materials Industry Playersinclude The 3M Company, Zalman Tech Co. Ltd., Wakefield-Vette Inc., Indium Corporation, The Berquist Company Inc., Momentive Performance Materials Inc., Laird Technologies Inc., DOW Corning Corporation, Parker Hannifin Corporation, and Henkel AG & Co. KGAA. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
