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Thermal Interface Materials Market Size, Trends, Share Analysis And Report 2024-2032
Thermal Interface Materials Market Size
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According to The Business Research Company's, 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 growth in the historic period can be attributed to electronic device miniaturization, semiconductor industry growth, consumer electronics boom, automotive electronics, industrial equipment cooling..
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%. The growth in the forecast period can be attributed to electric vehicle proliferation, renewable energy technologies, medical device innovations, climate change concerns, ai and iot expansion. . Major trends in the forecast period include advanced bonding technologies, thermal gap fillers, innovations in tim packaging , thermal management simulation, nanomaterial integration..
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Market Drivers and Trends:
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.
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.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
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
Thermal Interface Materials Market 2024 Key Insights:
• 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%.
• Rising Demand For Electronic Devices Drives Growth In The Thermal Interface Materials Market
• Product Innovation Enhanced Thermal Interface Material Market Expansion
• Asia-Pacific was the largest region in the thermal interface materials market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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LinkedIn: https://in.linkedin.com/company/the-business-research-company
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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