Thermal Interface Materials Market | Key players operating in the market include Honeywell International Inc., 3M, Parker Hannifin Corporation, Dow Corning Corporation, Laird Technologies

The "Thermal Interface Materials Market is projected to grow from USD 2.8 billion in 2020 to USD 4.6 billion by 2025, at a CAGR of 10.4%. The thermal interface materials market is witnessing high growth owing to increasing demand for miniaturization of electronic devices, growing LED market, and increasing use of TIMs in end-use industries.

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The thermal interface materials market is segmented on the basis of chemistry into silicone, epoxy, and others. Silicone is largest and is expected to witness the fastest growth rate due to its superior properties such as temperature variation stability, vibration & shock resistance, stability to mechanical stress, and resistance to chemical attack. The demand for epoxy is expected to grow at a second-fastest rate over the next five years.

The thermal interface materials market is segmented on the basis of type into greases & adhesives, tapes & films, gap fillers, metal-based TIMs, phase change materials, and others. Greases & adhesives is largest type owing to the easy to use and its increased use in various applications such as mobile phones, PCs, server CPUs, engine & transmission control modules, memory modules, power conversion equipment, and others. Phase change materials type is the fastest-growing segment in the overall TIMs market because of their increased application in computers.

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The thermal interface materials market is segmented on the basis of applications into computers, telecom, consumer durables, medical devices, industrial machinery, automotive electronics, and others. Among these, the computer segment is the largest application due to increasing use of TIMs in CPSs and GPUs of computers. Medical device is the fastest-growing application of TIMs as they play an important role in the development of cutting-edge devices used in imaging, diagnostic, and surgical applications.

APAC is the largest market for thermal interface materials market due to growing population, growing internet user base, rising per-capita income, rapid industrialization, and development of end-use industries. Major companies in the market are establishing and expanding their manufacturing base in APAC region to meet the growing demand for thermal interface materials. Growing economies such as China, India, and Japan are major markets for TIMs in the region.

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Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), Dow (US), Laird Technologies Inc. (US), Momentive (US), Indim Corporation (US), Wakefield Thermal Inc. (US), and Zalma Tech Co. Ltd. (South Korea) are the key players operating in the thermal interface materials market.

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