Global Thermal Interface Market is expected to grow at a CAGR of 12.3% during the forecast period 2022-2030


The global thermal interface materials market is expected to grow at the CAGR of 12.3% during the forecast period of2022-2030. 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.

The phase change material is expected to grow at a CAGR of 15.2% during the forecast period. Factors driving the growth of the phase change material market are rising application building and construction industry. Today PCMs are embedded in under floor, wall, and construction material to act as thermal energy storage systems and thus support temperature regulation, resulting in heating and cooling needs to cheaper, off-peak hours.Automotive electronics segment growing with a CAGR of 13.4% is expected to be the fastest growing application segment during the forecasted period of 2022-2030. The TIM in automotive industry are used in large number of areas such as engine electronics, chassis electronic, active safety, passenger comfort, driver assistance, entertainment systems etc. The electronic boom in the Asian countries such as India, China, Japan and South Korea. Also the mandatory safety regulations for the automotive industry by various governments such as the U.S. department of transportation.

Asia pacific growing with a CAGR of 13.2% is expected to be the fastest growing region globally. The region is responsible for generating largest share of revenue in the global market, it held a share of 48.89% of the global market in the year 2021 and is expected to rise to 52% by 2030. The dominance of the market is majorly due to high growth in the countries such as China and India. China is known as an automobile manufacturing hub, there can be seen an inclination of the global automobile manufacturing companies towards setting their manufacturing units in China, this is expected to act as a great opportunity for the region. Another major country leading to the dominance of APAC is India, rising disposable income in the country is acting as a driver for the consumer durable market, and this in turn is driving the thermal interface material market in India.

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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. 

Key Market Movements

  • The global thermal interface materials market is expected to grow at the CAGR of 12.3% during the forecast period of 2022-2030.
  • The phase change material is expected to grow at a CAGR of 15.2% during the forecast period.
  • Automotive electronics segment growing with a CAGR of 13.4% is expected to be the fastest growing application segment during the forecasted period of 2022-2030.
  • Asia pacific growing with a CAGR of 13.2% is expected to be the fastest growing region globally.
  • The region is responsible for generating largest share of revenue in the global market, it held a share of 48.89% of the global market in the year 2021 and is expected to rise to 52% by 2030.
  • 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.

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