Thermal Interface Materials Market to Drive Market Growth at a CAGR of 11.2% with a Valuation of USD 5.33 Billion by 2032

Asia Pacific is expected to hold 38.1% of global thermal interface materials market share by the end of 2032. North America is expected to hold a considerable share of the global thermal interface materials market. Browse 36 market data tables and 108 figures spread over 333 pages and a detailed table of contents

NEWARK, Del., August 19, 2022 /PRNewswire/ — The global thermal interface materials market is expected to flourish in the global market and flourish at a CAGR of 11.2% somewhere between 2022 and 2032. The market is expected to reach $5.33 billion by 2032, while it holds a market value of $2.05 billion of each year 2022.

Thermal interface materials are typically inserted between two components or surfaces to improve thermal coupling and heat flow between the two surfaces or components. Electronic assemblers today know the importance of thermal interface materials and use them in almost every application where heat flow is critical to operation.

These materials are mainly used because of the uneven, rough and wavy surfaces of machined parts, which result in few actual contact points between the two assembled components. These rough surfaces form air gaps when joined, resulting in insulation and acting as thermal barriers for small-scale power applications.

Thermal interface materials help eliminate air voids and increase thermal conductance between joined surfaces. These materials are available in several forms; however, their selection depends on several factors. Thermal conductivity is the main selection criterion. Besides thermal conductivity, ease of use during assembly, reworkability and long-term stability are also important in selecting these materials for high-end applications.

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The electronics industry, especially in developing countries such as China and India, has been expanding rapidly, mainly due to strong domestic demand for electronic products. This can be attributed to growing middle class population, increasing disposable income, favorable tariff structures, and increasing government projects in developing countries. Mobile devices represent an important part of the electronics and semiconductor industry. The mobile device industry in developing countries is driven by increasing demand for mobile phones, lower prices for these phones, and lower voice and data tariffs.

The electrification of transportation vehicles is also an important factor driving the global thermal interface materials market. Advances in battery and fuel cell technologies as well as powertrain systems have led to the introduction of highly efficient vehicles in the market. The incorporation of electrical and electronic devices in vehicles has steadily increased. Thus, thermal management has become an important feature for car manufacturers.

Rising demand for electric vehicles is also expected to be a key market driver. The electric vehicle industry in developed regions such as North America and Europe has developed considerably in recent years. China has the largest electric vehicle industry in any region. Electric vehicles are also one of the main users of thermal interface materials. It is estimated that the growth of the electric vehicle industry will drive the thermal interface materials market in the near future.

Key players in the global thermal interface materials market

Network Medical Products Ltd., Olympus, Lohmann & Rauscher, Meril Life Sciences Pvt Ltd., FABCO, Aegis Lifesciences, Summit Health, Smith & Nephew, Stryker Corporation, Medtronic plc.

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Recent Developments in Global Thermal Interface Materials Market

  • Lately, 3M extended its operations to Clinton, TN by investing around $470 million and the creation of approximately 600 new jobs by 2025 at its plant in Clinton, TN.
  • In 2022, Ray Techniques Ltd introduced an innovative technology for manufacturing nanodiamonds or laser ablation. The nanodiamonds obtained through this technology have high purity and homogeneity.
  • Henkel AG & Co. KGaA has launched a new TIM Bergquist Gap Filler TGF 7000. It is used for various applications, such as automotive ADAS systems, power conversion systems, electric pumps, etc. With this launch, the company strengthens its product portfolio in the TIM market.

Thermal Interface Materials Market By Segmentation

By product type:

  • Tapes and Films
  • Elastomeric bushings
  • Greases and adhesives
  • Phase change materials
  • metal based
  • Others

By Outlook App:

  • Telecom
  • computer
  • Medical equipement
  • Industrial machinery
  • Durable consumer goods
  • Automotive electronics
  • Others

By region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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Contents

1. Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply-side trends

1.4. Analysis of the technology roadmap

1.5. Analysis and recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limits

3. Market Context

3.1. Market dynamics

3.1.1. Drivers

3.1.2. Constraints

3.1.3. Opportunity

3.1.4. Tendencies

3.2. Scenario forecast

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