Thermal Interface Materials Market (By Type: Greases & Adhesives, Tapes & Films, Gap Fillers, Metal-Based Thermal Interface Materials, Phase Change Materials, Others; By Application: Telecom, Computers, Medical Devices, Industrial Machinery, Consumer Durables, Automotive Electronics, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

The Global Thermal Interface Materials Market value is expected to reach around US$ 3.3 Bn by 2026, growing at a CAGR of 10.5% from forecast period 2019 to 2026.

Thermal interface materials are used as an insertion material between two substrate in which one substrate generates heat and other substrate functions as a heat sink to enhance and improve the heat dissipation of and electronic assembly. The thermal interface materials are used to enhance the heat dissipation and thermal coupling between two components. Thermal interface materials boosts the chemical reactions and increase heat dissipation. There are various thermal interface materials which includes greases & adhesives, tapes & films, gap fillers, metal-based thermal interface materials, phase change materials. The growing demand for electronic products and increase in demand for consumer products across the globe further grows the demand for Thermal interface materials. This expected to enhance the production to meet the growing consumption of thermal interface materials over the forecast period.

Market Dynamics

The growth of the thermal interface materials market is primarily driven by the rising demand for LED lights, growing demand for electronic products in various end user industries, growing demand for miniaturization of electronic devices, and multi-functionality of thermal interface materials. Furthermore, increase in demand of thermal interface materials in electronic devices, cloud computing devices and increase in demand from application sectors which includes telecom, automotive electronics, and computer hardware, is estimated to boost the market growth. Moreover, rapid urbanization in developing countries, growing infrastructure development, government investment for social development and increase in the number of applications, and rapid electrification of vehicles, and increase in innovation and development in thermal interface materials are expected to create opportunities for the manufacturers in the global market over the forecast period. However, fluctuating prices of raw materials and limited physical properties of materials are expected to hamper the growth of the global thermal interface materials market in the coming years.

By application, computers dominated the thermal interface materials market

Based on application, the market has been segmented into telecom, computers, medical devices, industrial machinery, consumer durables, automotive electronics, others. The computers segment accounts of the largest share in the market and are expected to grow at a CAGR of around 9.8% during the forecast period.

Thermal interface materials enhance the heat dissipation between various computer systems which includes CPUs, chipsets, graphics cards, and hard disk drives which grows the demand for thermal interface materials in computer applications. The thermal interface materials are used in computer application for transferring the thermal conductivity from the CPU or GPU to the heat sink coolers. The manufacturers Henkel AG & Co. KGAA, DOW Corning Corporation, 3M Company, Parker Hannifin Corporation are the mainly investing in the development of thermal interface materials for the computer application, which expected the lead the market in the coming years.

Based on type, the greases & adhesives segment is expected to dominate during the forecast period

Based on type, the market has been segmented into greases & adhesives, tapes & films, gap fillers, metal-based thermal interface materials, phase change materials, others. The greases & adhesives segment accounts of the largest share in the market and held for more than 35% of the total market in 2018. The major factors that are driving the growth of this segment are high thermal conductivity and low cost of greases and additives, and growing demand for greases and adhesives in various applications which includes automotive electronics, computers, and medical devices. This expected to enhance the dominance of the greases & adhesives segment in the global market over the forecast period.

The market research study on “Thermal Interface Materials Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”, offers a detailed insight into the global thermal interface materials market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global Thermal Interface Materials market, its type, application, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global thermal interface materials market size and volume, and segment markets by type, application, and geography along with the information on companies operating in the market. The thermal interface materials market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

In 2018, Asia-Pacific dominated the regional market with a maximum market share

Asia-Pacific accounted for the high market share of the thermal interface materials market and the region is also expected to maintain its dominance over the forecast period. The rapid consumption of thermal interface materials in various end user industries, growing development in computer and electronics industry, and growing miniaturization of electronic devices in various industries are the major driving factor for the region in the global market. Moreover, the increasing demand for electronic devices and diversification in the region’s electronic sector are expected to enhance the market growth in the global thermal interface materials market in future.  Moreover, rapid industrialization and growing mobile device and electronic device manufacturing in countries, such as China, Korea, Thailand, Japan, and India, are expected to enhance the market growth in the global thermal interface materials market during the forecast. North America is expected to hold the second largest in the global market during the forecast period. Growing medical industry, development of new medical electronic devices, growing automobile industry, and increase in product ion base, rising number of thermal interface material manufacturers are expected to enhance the market growth in the global thermal interface materials market during the forecast.

Europe is expected to hold the highest CAGR in the global market during the forecast period. The growing medical device industry, increase in innovation and development in thermal interface materials, rising production base of medical device and electronic industry, are expected to enhance the market growth in the global thermal interface materials market during the forecast.

The players profiled in the report include Henkel AG & Co. KGAA, DOW Corning Corporation, 3M Company, Parker Hannifin Corporation, and Laird Technologies, Inc., Momentive Performance Materials Inc., The Bergquist Company, Inc., Indium Corporation, Wakefield-Vette, Inc., and Zalman Tech Co., Ltd. The companies are involved in mergers and acquisitions and new product development for expanding their market share and also for gaining competitive advantages over its competitors.

Market Segmentation

Market By Type

• Greases & Adhesives
• Tapes & Films
• Gap Fillers
• Metal-Based Thermal Interface Materials
• Phase Change Materials
• Others

Market By Application

• Telecom
• Computers
• Medical Devices
• Industrial Machinery
• Consumer Durables
• Automotive Electronics
• Others

Market By Geography

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Spain
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa