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Thermal Interface Materials Market

Thermal Interface Materials Market

Thermal Interface Materials Market Share & Trends Analysis, By Base Material Type (Thermal Grease, Metal Based, Adhesives), By Application Type (Computers, Consumer Electronics, Automotive Electronics) & By Region Forecast - Global Review 2021 to 2031

Thermal Interface Materials Market

Thermal Interface Materials Market Forecast and CAGR

According to the latest study by Fact.MR, the global thermal interface materials market is estimated to grow at a higher rate during the forecast period with incremental $ opportunity of more than US$ 80.7 Mn during similar time frame. The materials with greater thermal conductivity are labelled as thermal interface materials. They act as boundary edge medium for dispersing the heat produced from a heat source to the sink.

The rise in production of miniaturized, compact and high energy density devices, there has been a heave in demand for solutions that can augment the transfer of heat from the heat generating component to the heat sink, thus avoiding the heat build-up and improving the lives of the electronic devices. Thus, the overall demand for thermal interface materials is expected to grow in the forecast period, which in turn, would boost the overall growth.

Rising consumer confidence in electronic items like tablets, smartphones and the initiation of automotive industry in developed and developing economies. And the mounting affluence of the middle class population is anticipated to project a higher demand among key players across regions.

What is Driving Demand for Thermal Interface Materials?

The rise in demand for use of electronic components in automobiles, LED’s, miniaturization of electronic devices and increasing consumption in end use industries has been a major growth contributor. The development strategies are mainly driven owing to increasing utilization of the internet of things (IoT), improvement in technologies, and rising demand for a small component of electronics across various industries.

Moreover, with the rising trend of automation, manufacturers are incorporating more and more electronic and electrical components, hence managing the thermal activity in electronics has become gradually essential, which is another key factor for the growing demand for thermal interface materials in the forecast period.

The global thermal interface market is also set to benefit from increasing urbanization and rapid population growth along with cumulative disposable income which is driving the evolution of consumer electronics. Furthermore, with the global trend of adaptability, automobile manufacturers are growing preferences towards electronic vehicles in order to reduce greenhouse gas emissions and energy consumption, which in turn is driving the overall demand. The COVID-19 pandemic has not inhibited the consumer performance pattern for electronic gadgets like video games, smartphones and tablets.

Rather consumer had raised the sales for electronic gadgets that too have been exaggerated in recent times in the pandemic. Moreover, the rising demand for the production of medical and pharmaceutical machinery, and lab equipment has been seen a steady growth owing to an increased call for medical equipment’s and medicines.

Moreover, progression in the medical industry is also projected to support the growth of heat insulating materials. Manufacturers are constantly investing in research and development for efficient & higher conductive materials and lightweight materials, in order to gain traction in the market.

Miniaturization of Electronic Devices is Likely to Augment Thermal Interface Materials Sales

The growing demand for automation and miniaturization of electronic products, such as medical devices, mobile phones and touch screens & displays is a driving factor for the development of thermal interface materials sales. As electronics component sizes are becoming more compact, the device heats up easily as these components are more concentrated. This upsurges heat concentration over the surface of the electronic component. Thermal Interface Materials are used to raise the heat dissipation. The mounting demand for these electronic components globally has obligated to an increase in the depletion of thermal interface materials in the electronics industry.

Whereas, in electric vehicles, thermal management is gaining high importance as these vehicles have great energy storing tanks. Apart from electric vehicles, conservative vehicles also integrate miniaturized electronics components. An average sedan car retailed today has more electronic mechanisms compared to the same model retailed 20 years ago. Thus, as automobile industries integrate more electrical and electronic components, the role of thermal interface materials will become progressively significant.

Asia Pacific Thermal Interface Materials Market Outlook

Asia Pacific region dominates higher growth in sales due to the rising demand for thermal interface materials in the region. This is owing to the manifestation of vast manufacturing industries in the region. Besides regional manufacturing base, rising household incomes, GST, government policies, reduction in corporate tax, changing lifestyle, and consumer health awareness has the potential to propel the regional growth.

Major manufacturers are expanding and establishing their manufacturing sectors in the Asia Pacific region to meet the rising demand. Mounting economic countries such as China, Japan and India are major contributors to thermal interface materials in the region.

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North America Demand Outlook for Thermal Interface Materials

In the North American region, there is apparently excessive demand from the telecom industry due to the rise in perception for smartphones and data in recent times. Whereas, increasing investments in infrastructure reformation and urbanization advantageous government in emerging economies of the North American region is likely to bode well for the regional growth.

By providing fast and high-speed networks, and redeeming distinctive content calls for developed bandwidth, and thus results in optimal system enactment. A similar pattern has been witnessed in the computer industry due to the rise in IT employment rates, innovation, and automation.

Who are the Key Manufacturers and Suppliers of Thermal Interface Materials?

Taking the electronics sector into the consideration, the scenario for the demand of thermal interface materials is surging to the next level as most of the end-users are looking for the material that can disperse the heat quickly. Some of the leading key players are

  • Parker Hannifin Corp.
  • Laird Technologies
  • Honeywell International Inc.
  • 3M, Indium Corporation
  • Henkel AG & Co.
  • Fujipoly
  • Kitagawa Industries
  • Momentive Performance Materials
  • Dow Corning Corporation
  • Wakefield Vette
  • Shinetsusilicone
  • Sibelco
  • DU Pont

For instance, in 2020, Henkel has protracted their thermal interface materials portfolio with the launch of Berg-Quist Interface Pad. This product has been launched to address the high power density challenges allied with consumer agility designs and 5G telecom set-ups. It is an invention that provides extremely high thermal conductivity with the low assembly stress formulation and an ultra-low modulus.

Some of the leading suppliers are

  • PTI Thermal Solutions
  • Stock well Elastomeric
  • XTO Inc.
  • Align Sourcing
  • Quist Electronics
  • Modus Advanced Inc.
  • Hill Technical Sales Corp.
  • Brandywine Materials.

Though the market is extremely fragmented, the key players together ensure to fill each void of demand for the global thermal interface material market.

These manufacturers have implemented several progression strategies to make their position stronger. New product development, collaboration, expansion and merger & acquisition are the key growing strategies embraced by these players to enhance their regional presence and product offering to meet the rising demand for thermal interface materials from developed and developing economies.

An Adaptive Approach to Modern-day Research Needs

Thermal Interface Materials Market Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company

Key Segments

By Base Material Type

  • Thermal Grease
  • Metal Based
  • Adhesives
  • Phase Change Material
  • Tapes & Films
  • Gap Fillers

By Application Type

  • Computers
  • Consumer Electronics
  • Automotive Electronics
  • Medical Devices
  • Industrial Machineries
  • Others

By Region

  • North America
    • US & Canada
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
    • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East And Africa
    • GCC Countries
    • Other Middle East
    • South Africa
    • Other Africa

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments by product type, by vehicle type and by geographies.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

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