Thermal Interface Materials Industry worth $5.6 billion by 2027 | Key players Honeywell International, 3M, Henkel AG & Co., Parker Hannifin Corp, Dow

According to recent market research the "Thermal Interface Materials Market by Chemistry (Silicone, Epoxy, Polyimide), Type (Greases & adhesives, Tapes & Films, Gap Fillers), Application (Computers, Telecom, Consumer Durables, Medical Devices) and Region - Global Forecast to 2027", The global thermal interface materials market size is estimated to be USD 3.4 billion in 2022 and projected to reach USD 5.6 billion by 2027, at a CAGR of 10.5% during the forecast period. The market for thermal interface materials has experienced significant growth, primarily due to growing need of thermal management solutions in ever-shrinking electronic components and systems.

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Silicone is most widely used chemistry in thermal interface materials market. Owing to various advantages such as bond to difficult combinations of materials, reliability over a wide temperature range, and low cost, silicone has the largest application space among other chemistry segment.
Greases & adhesives is most widely used type in thermal interface materials market. It is a popular type for thermal management because it spreads out and thins thus decreasing the thermal resistance between heat sorce and heat sink. Its large market size is attributed to its easy implementation and various applications in growing industries such as cloud compute, industrial, and power.

Computers accounts for largest market share among all applications in thermal interface materials market. This is due to the rapid adoption of computers in various industries such as communication, education, utility facilities, health care, and others coupled with need of durable, long-life, and efficient electronic devices.

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In 2022 the global thermal interface materials market is estimated to be USD 3.4 billion. It is projected to grow at a CAGR of 10.5% during the forecast period. By 2027, the market is projected to reach USD 5.6 billion. As the demand for electronic devices is growing, the demand for smaller, efficient, and durable electronic devices is growing simultaneously. As the size of electronic devices get smaller, amount of heat they dissipate continues to increase. Thermal management of these devices are needed for proper operation. Thermal interface materials have shown to be excellent for such applications as they exhibit good thermal conductivity.

The key players in the global thermal interface materials market are 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), Indim Corporation (US), and Zalma Tech Co. Ltd. (South Korea) are the key players operating in the thermal interface materials market. The thermal interface materials market report evaluates key organic and inorganic growth strategies such as new product launch, expansion, partnership/collaboration/agreement, and merger & acquisition strategies taken by top leading players in the market.

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Henkel AG & Co. KGaA operates its business through four business segments: adhesive technologies, laundry & homecare, beauty care, and corporate. The company offers TIMs through the adhesive technologies segment. Its adhesives technologies segment produces and sells cyanoacrylates, office products for gluing & correcting applications, adhesive tapes, contact adhesives, and products for surface treatment. The company provides technology adhesives for designing microchips and electronic assemblies in the electronics industry. In 2008, the company acquired the adhesives and electronic materials businesses of National Starch & Chemical Company (US).

Parker Hannifin Corp through its subsidiary Chomerics Inc., designs, manufactures, and supplies electromagnetic interference (EMI) shielding materials, TIMs, plastics, and optical products. Parker Chomerics Inc. offers TIMs, including gap filler pads, thermal gels, phase change materials, attachment tapes, compounds, greases, dielectric pads, and heat spreaders under its diversified industrial business segment. These materials are used for various mobile, industrial, and aerospace markets worldwide.

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