Press release
Thermal Interface Materials Market Analysis
As per the report, the thermal interface materials market size has grown rapidly in recent years. It will grow from $2.52 billion in 2023 to $2.85 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The thermal interface materials market size is expected to see rapid growth in the next few years. It will grow to $4.47 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%.
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Rising Demand For Electronic Devices Drives Growth In The Thermal Interface Materials Market
The increasing demand for electronic devices is anticipated to boost the demand for the thermal interface materials market over the coming years. Electronic devices are devices that use electrical energy to perform various functions, such as computing, communication, or control. Thermal interface materials are used in electronic devices, such as tablets, computers, smartphones, and video games, for their thermal conductive properties that help in strengthening the efficiency and life of electronic devices is expected to contribute to market growth. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total electronic equipment production in Japan reached $52,36,535 million (¥771,457 million). In addition, consumer electronics production reached $2,178,430 million (¥32,099 million) in May 2023, compared to $1,714,724 million (¥25,268 million) in May 2022. Therefore, the surge in demand for electronic devices and appliances is expected to generate higher revenues for the thermal interface materials market.
Product Innovation Enhanced Thermal Interface Material Market Expansion
Major companies operating in the thermal interface materials market focus on product innovation. The innovation involves development and implementation of new or improved technologies, materials, or designs that enhance heat transfer efficiency and reliability in electronic devices. For instance, in January 2023, Electrolube, a UK-based advanced solutions company for engineering and technology, launched the new GF600 thermal gap filler. GF600 is a two-part, liquid silicone-based gap filler that provides excellent thermal performance and can be cured at room temperature or accelerated with heat.
The thermal interface materials market covered in this report is segmented -
1) By Type: Greases & Adhesives, Tapes & Films, Gap Fillers, Metal-Based TIMs, Phase Change Materials, Other Types
2) By Chemistry: Silicone, Epoxy, Polyimide, Other Chemistries
3) By Application: Telecom, Computer, Medical Devices, Industrial Machinery, Consumer Durables, Automotive Electronics, Other Applications
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Major companies operating in the thermal interface materials market include The 3M Company, Zalman Tech Co. Ltd., Wakefield-Vette Inc., Indium Corporation, The Berquist Company Inc., Momentive Performance Materials Inc., Laird Technologies Inc., DOW Corning Corporation, Parker Hannifin Corporation, Henkel AG & Co. KGAA, Fujipoly Industries Co Ltd., DK Thermal Metal Circuit Technology Ltd., AI Technology Inc., AIM Specialty Materials, AOS Thermal Compounds LLC., Denka Company Limited., Universal Science, Dymax Corporation, Ellsworth Adhesives, Enerdyne Devices Private Limited., European Thermodynamics Ltd, Inkron Oy, Kitagawa Industries, LORD, M. A. Electronics Private Limited., MH&W International Corporation., Minerals Technologies Inc., Chomerics Inc., Robnor ResinLab Ltd., Schlegel Electronics Materials, Shin-Etsu Chemical Co. Ltd., Honeywell International Inc., Panasonic Corporation, Advanced Thermal Solutions Inc., MG Chemicals, Thermal Grizzly, Aavid Thermalloy LLC, Arctic Silver Inc., Thermalright Inc., Cooler Master Co. Ltd., GELID Solutions Ltd., Master Bond Inc., Kerafol Keramische Folien GmbH & Co. KG
Contents of the report:
1. Executive Summary
2. Thermal Interface Materials Market Report Structure
3. Thermal Interface Materials Market Trends And Strategies
4. Thermal Interface Materials Market - Macro Economic Scenario
5. Thermal Interface Materials Market Size And Growth
…..
27. Thermal Interface Materials Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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