The global thermal interface materials market size is projected to grow from USD 3.56 billion in 2024 to USD 5.64 billion by 2029, at a CAGR of 9.7% during the forecast period. The market research report provides a professional in-depth examination of the market current scenario, CAGR, gross margin, revenue, price, production growth rate, volume, value, market share, and thermal interface materials market growth are among the market data assessed and re-validation in the research. The thermal interface materials market is driven by the demand from the miniature electronics, and the growing LED market. But, it faces restraints like certain physical properties of thermal interface materials limiting its performance. There are opportunities for this market through the rise in electric vehicles. It faces challenges in pricing which is directly affected depending on the thermal conductivity of material.
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By Material, Silicone material to have largest share
The silicone material type is predicted to be the largest of materials. This is because it is a great material for making thermal interface materials. It’s easy to use and apply, and it can reach into small gaps that other materials can’t. Silicone is also a good conductor of heat, meaning it can quickly transfer heat away from hot components. It’s flexible, so it can be used in many different applications, and it’s durable, so it will last a long time.
By Type, Greases & adhesives type of thermal interface material to have largest share
When looking at the type of thermal interface materials, greases and adhesives hold the largest share. This is because it is easy to apply and it also has the ability to be used through automated dispensing. It is also removable when you apply so it serves as a convenient material if it has to be removed after a point of time. With adhesives, it serves as a thermal interface material and also as a securing material to stick the components.
Computers & data centers segment to account for fastest growth in the thermal interface materials market
The computers segment of application is the fastest growing segment of thermal interface materials. Computers are using more and more thermal interface materials. This is because people are buying more electronic devices. In computers, these materials are used in different components. It helps in spreading heat evenly in these components which helps the computer to operate efficiently.
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Asia Pacific region is the largest market for thermal interface materials
When you consider the regional growth, the Asia Pacific region is predicted to have the largest growth.. This is because more and more people in this region are buying electronic devices. Also, the government is encouraging the production of these devices within the region, which will make them cheaper and increase demand.
Thermal Interface Materials Companies
The report profiles key players such as Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), DOW (US), Laird Technologies Inc. (US), Momentive (US), Wakefield Thermal Inc. (US), Indium Corporation (US), and Zalma Tech Co. Ltd. (South Korea).
Honeywell International Inc. (US) operates as a diversified technology and manufacturing company. The company operates through four major business segments: aerospace, Honeywell building technologies, performance materials & technologies, and safety & productivity solutions. Honeywell’s diverse portfolio combines physical products with advanced software to deliver global solutions across various industries. The company’s long term presence in the market has created a good brand name for it in the market.
3M (US) is primarily engaged in offering a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments: safety & industrial, healthcare, consumer. Collaborations,product launches and enhancement in focus of business were some main strategies used by the company.
Henkel AG & Co. KGaA (Germany) is industrial and consumer market products manufacturer based in Germany. It operates its business through two business segments: adhesive technologies, and consumer brands. Under the adhesive technologies segment, industrial products such as adhesives, sealants and functional coatings are offered. It has a presence across all the continents with Europe and North America representing its major markets. Deals like partnerships and acquisitions along with some major expansions were adopted by company.
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Parker Hannifin Corp (US) is a US based company specializing in developing motion and control technologies. The company operates its business through two reportable segments namely Diversifies industrial and Aerospace systems segments. The TIM products are grouped into Chomerics division and Assembly & Protection Solutions division. The company is known for innovation and has launched a number of products in the market. For example, recently, it launched a new range of thermal greases made from silicone and ceramic filler materials for use in heat dissipation for electronics.
Dow (US) is a diversified products & solution company. The company aims to become the most innovative, customer-centric, inclusive, and sustainable materials science company in the world. Dow is a diversified American corporation with an extensive portfolio that spans various categories. Expansions and product launches were made by the company to expand market presence. In 2022, it expanded its production of thermal technologies in China and Germany.
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