Thermal Interface Market

The global thermal interface materials market is expected to grow at the CAGR of 12.3% during 2022-2030. The major factors driving the market are high demand of the products in various end user industries such as automotive electronics, industrial machinery, telecom, medical devices consumer durables and others. The market is majorly segmented on the basis of application and type, based on application the market is again segmented into automotive electronics market, computer industrial machinery market, telecom market, consumer durables market, medical device market and industrial machinery market. On the basis of type, the market is again segmented into greases & adhesives, gap fillers, metal based thermal interface, tapes and films market, phase change material market and others market.

Telecom and Automotive Electronics Remain as The Key End User Market

Telecom and automotive electronics are the major end user segments of the thermal interface material market. Efficient heat transferring function of thermal interface materials have potential application in electronics industry. High investment in the automotive electronics market by various economies is boosting the automotive industry. Since it is one of the major end user of the thermal interface materials, it’s acting as booster for the thermal interface materials market. Advanced medical lasers and medical instruments also apply heat management solution provided by thermal interface materials. Although there are many factors driving the market yet there are some challenges faced by the market such as identifying optimal operating costs for end user industries.

Increasing Demand for TIMs from Automotive, Electronic and Telecom Industry

Thermal interface materials (TIMs) are generally used between the heat producing device and heat dissipation device. In general, these are any material that gets implanted between two parts to improve the thermal coupling between the two components. A large range of TIMs have been developed over the changing needs across the various end users such as automotive and electronics industry, telecom market etc. The global electrical enclosure market is expected to grow with a CAGR of 12.3% during the forecast period. The major factors driving the market are high demand of the products in various end user industries such as automotive electronics, industrial machinery, telecom, medical devices consumer durables and others. Telecom and automotive electronics are the major end user segments of the thermal interface material market. Efficient heat transferring function of thermal interface materials have potential application in electronics industry. Some of the opportunities that exist for the industry are increasing applications of carbon nanotubes as heat sink and its application as Nano-diamonds.

Telecom Leads the Market

Telecom sector turned out to be the largest consumer for the thermal interface material market in the year 2021 with 23.13% of the total market. The telecom sector was followed by consumer durables and automotive electronics in the same year with the market share of 22% and 21.50% of the market share respectively. With the penetration of new technologies, the demand of thermal based materials is increasing rapidly. In the by type segment metal based thermal interface materials dominated the thermal interface material industry with 45.68% of the total market in the year 2021. Metal based thermal interface materials are majorly used in railways. There is a large demand of metal based thermal interface materials due to its increasing uses in power amplifiers and IGBT modules. This has resulted in a market shift towards development and adaption of liquid metals. Phase change materials are newest in the market these are used to store energy in the form of thermal energy. This segment is expected to grow with the highest CAGR of 15.2% during the forecast period of 2022-2030. Tapes and films are expected to grow with second highest CAGR of 14.0% during the forecast period of 2022-2030. Tapes are generally used as thermal insulators in electronic equipment’s. Thermal tapes have very limited gap filling properties hence are applied on surfaces with reasonable flatness. These tapes have high shear strength at high temperatures, as these tapes are used mainly for mechanical adhesive properties rather than thermal insulation properties.

APAC to The Grow the Fastest During the Forecast Period

Geographically the market is segmented into North America, Europe, Asia pacific and Rest of the world. North America is further segmented into the United States, Canada and Mexico. Europe is further segmented into Germany, United Kingdom, France, Italy, Spain and Rest of Europe. Asia pacific is segmented into India, China, Japan, South Korea and others. Rest of the world includes Middle East and North Africa, Latin America and Africa. Asia pacific is expected to be the fastest growing region and is expected to attain the highest CAGR of 13.2% during the forecasted period of 2022 to 2030, this growth rate is backed up by high growth rate in the developing economies such as India and China which are expected to grow with a CAGR of 14.7% and 14.9% respectively during the forecast period.

Product Launch Remains as The Key Market Strategy to Enhance Market Share

Competitive rivalry is less in this market due to limited number of market players. Product launch remains as the key market strategy among top competitors in the market.The companies are therefore competing with each other either by providing products of superior features at similar prices or by selling products with similar features at a lower cost. As per the current scenario, developed markets dominate the thermal interface material device, however, the emerging economies are promising immense opportunities during the forecast period.

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2022 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

By Application (2020-2030; US$ Mn)

• Automotive electronics
• Computers
• Telecom
• consumer durables
• Medical devices
• Industrial Machinery
• Others

By Type (2020-2030; US$ Mn)

• Tapes & Films
• Metal based thermal interface
• Greases & adhesives
• Phase change materials
• Gap fillers
• Others

By Region (2020-2030; US$ Mn)

• North America
• Europe
• Asia Pacific
• Latin America
• Africa

Global Impact of Covid-19 Segment (2020-2021; US$ Mn)

• Pre Covid-19 situation
• Post Covid-19 situation

Key questions answered in this report

• What are the key market segments in current scenario and in the future by product categories?
• What are the key market segments in current scenario and in the future by regions?
• What is the key impact of Covid-19 over market revenues and market determinants in the global thermal interface materials market?
• What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
• What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
• How to overcome the current market challenges and leverage the opportunities in each of the market segment?
• Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
• What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc. that companies are deploying to enhance market revenues and growth?