What's driving the Electronic Thermal Management Materials Market trends? Honeywell International Inc, Parker Chomerics, 3M, Dr Dietrich Muller Gmbh, Boyd, Dupont, Wacker AG, Amerasia International (AI) Technology Inc, Marian Inc, Henkel AG & Company, Lai
Based on product, the market share is classified into conductive tapes, phase change materials, conductive pastes, thermal greases, and gap fillers. Phase change materials (PCM) are expected to experience substantial demand over the coming years. These materials can be further bifurcated into salt hydrates and paraffin. Paraffin PCMs exhibit excellent characteristics such as high latent heat, making them highly preferable for a range of automotive and consumer electronics applications.
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Key players operating in global ETMM market are European Thermodynamics, Lord Corporation, Honeywell International Inc, Parker Chomerics, 3M, Dr Dietrich Muller Gmbh, Boyd, Dupont, Wacker AG, Amerasia International (AI) Technology Inc, Marian Inc, Henkel AG & Company, Laird PLC, and Darcoid Company.
Positive application outlook in consumer electronics, automotive and telecommunication sectors is driving electronic thermal management materials (ETMM) market forecast. In the automotive sector, the product is being increasingly used on account of its ability to enhance the fuel-efficiency, safety, reliability, and overall performance of the vehicle. Modern electronics generate more heat due to increased power consumption, which makes ETMM highly desirable in the consumer electronics sector.
Asia Pacific region, mainly led by China, will lead global electronic thermal management materials industry in the coming years. This can be attributed to the flourishing automotive, telecommunications, and consumer electronics sectors in China, Japan, India, and South Korea. A substantial rise in the purchasing power of consumers is expected to increase the production as well as sales of automobiles electronic gadgets, and household appliances.
Prominent players in the industry are increasingly adopting numerous organic as well as inorganic growth strategies to expand their business and gain a competitive edge. While companies such as Lord Corporation rely on collaboration strategies to accelerate and scale up their ETMM production, key players such as European Thermodynamics Ltd are aiming to obtain supply agreements for better availability of the product. Majority of players are focusing on product innovation and investing in research and development (R&D) to introduce more advanced products and reinforce their market presence.
High product costs will likely be a major growth hampering factor for ETMM market over the next few years. This, along with fluctuating manufacturing costs are negatively impacting the product application across various end-use industries. However, as environmental regulations get tighter, ETMM will experience increased adoption from the automotive sector due the ability to minimize fuel consumption.
It is estimated that global electronic thermal management materials market size will hit US$8.7 billion by 2026.
ETMM industry share is segmented into consumer electronics, automotive, telecommunication, healthcare, and aerospace on the bases of end-user industries. Telecommunication cabinets are used for housing electronic components such as phone switches, optical fiber cables, transmitters and receivers. The use of thermal management products to avoid excess heat generation becomes extremely important. In addition, the emergence of 5G and growing deployment of the technology in the near future should boost ETMM demand.
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