Analysis of Electronic Thermal Management Materials (ETMM) market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Demand for electronic thermal management materials is anticipated to increase at a CAGR of 8.4% through 2032. The global electronic thermal management materials (ETMM) market stands at a net worth of US$ 2.22 billion in 2022 and is estimated to attain a net value of US$ 4.96 billion by the end of 2032.
Electronic Thermal Management Materials Market Size (2022)
US$ 2.22 Billion
Predicted Market Value (2032F)
US$ 4.96 Billion
Global Market Growth Rate (2022-2032)
North America Electronic Thermal Management Materials Market Share (2022)
Key Companies Profiled
Phase change material demand is projected to attain a market share of 16.5% by the end of the forecast period and currently stands at a net worth of US$ 387.3 million.
Electronic thermal management materials are majorly used in electrical components to maintain their temperature and ensure their proper working. Electronic thermal management materials (ETMM) have seen a substantial increase in the scope of application across various industry verticals as more electronic components are being used than ever before.
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Electronic thermal management material demand rose at a CAGR of 6.5% from 2017 to 2021 and held a net worth of US$ 2.09 billion in 2021.
Increasing demand for consumer electronics, rising disposable income, growing use of electronic components in the automobile industry, and increasing use of electronic medical devices are some of the prime factors that are expected to drive the electronic thermal management materials (ETMM) market.
However, demand for thermal management materials is expected to be hindered by their high costs. Miniaturization of devices is also expected to have an adverse impact on sales of ETMM products. Thermal interface materials are expected to gain popularity as the trend of miniaturization of devices gains impetus.
Fact.MR, a market research and competitive intelligence provider, has provided a detailed assessment of the latest trends in the electronic thermal management materials industry, in this new research survey. The study also explains all key drivers, restraints, and opportunities that the ETMM market has to offer.
The electronic thermal management materials & materials market is slated to expand at a high CAGR of 8.4% from 2022 to 2032.
“Rising Demand for Advanced Thermal Management Materials for Electric Vehicles”
Electric vehicles are gaining massive popularity across the world and this trend is expected to be followed through 2032. Rising sales of electric vehicles are expected to drive advanced thermal management material demand throughout the forecast period as multiple manufacturers focus on building highly efficient battery management systems to optimize the efficiency of electric vehicles.
Advanced thermal management materials are mostly used in high-performance systems to ensure the performance and capability of any electronic system or component are not compromised. As demand for performance and reliability increases from electric vehicles, manufacturers of these vehicles are anticipated to increase the use of advanced thermal management materials.
The automotive end-use segment accounts for a net worth of US$ 482.1 million in 2022 and is projected to rise at a CAGR of 9.5% across the forecast period.
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“Asia Pacific ETMM Market to Rise at Stellar CAGR through 2032”
Demand for electronic thermal management materials in the Asia Pacific region is projected to rise at an impressive CAGR of 9.5% from 2022 to 2032 which is the highest of any other region in the global marketplace. Increasing disposable income and rising use of electronic components in various industry verticals are prominent factors that are expected to drive electronic thermal management materials market growth in this region.
China is anticipated to be a prime market in this region followed by Japan, India, and South Korea. The presence of key consumer electronics manufacturers, the flourishing automotive industry, and the low cost of electronic component manufacturing are other factors that propel market potential.
The Asia Pacific electronic thermal management materials market is estimated to attain an approximate revenue total of US$ 1.59 billion by the end of 2032.
“Robust Manufacturing Sector Driving Demand for Electronic Thermal Management Materials”
China is the most prominent manufacturing hub in the global landscape and this makes it an opportune market for multiple products and services. Factors such as the presence of robust semiconductor manufacturing infrastructure, flourishing automotive manufacturing industry, and supportive government initiatives to boost manufacturing are expected to provide a lucrative setting for electronic thermal management material manufacturers.
The electronic thermal management material shipments in China account for a market share of 42.3% in the Asia Pacific region in 2022 and are expected to rake in sales revenue worth US$ 658.7 million by the end of 2032.
“Increasing Digitization across Industry Verticals to Drive ETMM Demand”
The United States is witnessing a substantial rise in the use of electronic components in various industry verticals which is expected to prominently drive sales of ETMM products in the country.
Thermal conductive adhesives are expected to see an increase in sales as demand for lightweight electronic components from the automotive industry increases. The increasing scope of application in aerospace and healthcare industries is also expected to positively influence sales of electronic thermal management materials.
In 2022, the electronic thermal management materials market in the U.S. accounts for a net worth of US$ 664.7 million and is expected to account for a dominant market share of 90.1% in the North America ETMM market landscape by 2032.
“ETMM Market Led by High Sales of Conductive Pastes”
The global electronic thermal management materials market based on product type has been segmented into conductive pastes, conductive tapes, phase change materials, gap fillers, thermal greases, and other product types.
The conductive pastes segment accounts for a major market share and is slated to maintain this stance throughout the forecast period. Sales of conductive pastes in the ETMM market are expected to rake in revenue worth US$ 1.36 billion by 2032 while expanding at a CAGR of 9.9%.
Conductive pastes are crucial in decreasing the weight of new electronic assemblies and play an important role in maintaining the thermal equilibrium of electronic components hence they are expected to dominate the market.
The conductive tapes segment accounts for a market share of 20.2% at present and is expected to increase at an astronomical CAGR of 10.3% across the forecast period.
“Rising Sales of Consumer Electronics Drive Demand for ETMM”
Smartphone penetration has increased at a substantial pace across the world in recent years and this trend has favored the demand for electronic thermal management materials. This trend is expected to be rife over the forecast period as well and is anticipated to positively influence electronic thermal management materials market growth.
Increasing disposable income is also expected to result in increased consumption of consumer electronics and subsequently drive the ETMM market.
Sales of electronic thermal management materials in the consumer electronics segment are projected to rise at a stellar CAGR of 10.5% over the forecast period and are slated to account for revenue worth US$ 1.45 billion by 2032.
In terms of end use, the electronic thermal management materials market is also segmented into automotive, aerospace, healthcare, telecom, and other end uses. The automotive and telecom segments are projected to exhibit lucrative opportunities over the years to come.
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Top companies in the electronic thermal management materials market are focusing on mergers, collaborations, and partnerships to increase their market presence across the world. Electronic thermal management material suppliers are also launching new ETMM products to increase their sales potential and improve the overall revenue generation capacity.
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The global electronic thermal management materials market currently stands at US$ 2.22 billion.
Overall, the electronic thermal management materials market is expected to be pegged at a valuation of US$ 4.96 billion.
As per estimates, the global electronic thermal management materials industry is set to expand at a CAGR of 8.4% through 2032.
The APAC market for ETMM is anticipated to rise at a stellar CAGR of 9.5% and account for a value of US$ 1.59 billion by 2032.
The China ETMM market currently stands at a net worth of US$ 271.6 million and is anticipated to attain an approximate valuation of US$ 658.7 million by 2032.
Major ETMM suppliers are Boyd Corporation, DuPont, European Thermodynamics Ltd., Dr. Dietrich Müller GmbH, Henkel AG & Company, Honeywell International Inc., Laird plc, Lord Corporation, Parker Chomerics, Darcoid Company, Marian Inc., and The 3M Company.
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