Thermal Interface Materials Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

The thermal interface materials market is expected to grow from US$ 2.9 billion in 2021 to US$ 6.5 billion by 2031 at a CAGR of 11.3% between 2022 and 2031.

Thermal interface materials ensure efficient heat dissipation from electrical equipment and components. In addition, these materials are used as a gap filler in assembling electronic circuits. Increasing usage of thermal interface materials as phase changers in server laptops and computer devices is creating newer dimensions to the market growth. Nowadays, manufacturers develop thermal interface materials with high heat sink or dissipation capabilities to produce power-efficient electronic devices. This aspect is likely to create new market growth opportunities.

MARKET DYNAMICS

Thermal interface materials are widely used to establish heat connections between LED lights and semiconductor packages with heat sink surfaces. Technological advancements in developing electronic circuits requiring the extensive usage of gap fillers for heat sink applications are expected to drive market growth. Furthermore, increasing heat-conducting adhesives demand for closing the electrical connection gaps within circuit components is likely to accelerate the material's demand globally.

MARKET SCOPE

The "Global Thermal Interface Materials Market Analysis to 2031" is a specialized and in-depth study focusing on the global market trend analysis. The report aims to provide an overview of the thermal interface materials industry with detailed market segmentation by product type, application, and geography. The report provides key statistics on the market status of the leading thermal interface materials industry player and offers key trends and opportunities in the market.

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MARKET SEGMENTATION

The global thermal interface materials market is segmented into product type and application. Based on product type, the market is subsegmented into adhesives & greases, tapes & films, gap fillers, and others. By application, the market is categorized into computers, automotive electronics, industrial machinery, telecommunication, consumer durables, medical devices, and others.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry, including qualitative and quantitative information. It provides an overview and forecast of the global thermal interface materials market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 with respect to five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The thermal interface materials market by each region is later sub-segmented by respective countries. The report covers an analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.

From the regional perspective, Asia Pacific dominated the thermal interface materials market in 2021. The dominance of Asia Pacific in the thermal interface materials market is majorly due to the significant demand for thermal interface material-based adhesives, tapes, and gap fillers usage in designing and fabricating electronic circuits in China, Japan, and India. In addition, government support in developing automotive electronics sector which is a major consumer of thermal interface materials in China and India is likely to favor the Asia Pacific region's market growth. The below figure showcases the revenue growth trend in the global thermal interface materials market:

Source: The Insight Partners Analysis

The report analyzes factors affecting the thermal interface materials market from both the demand and supply side and further evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, affecting the market during the forecast period. The report also provides an exhaustive Porter's five forces analysis highlighting the factors affecting the thermal interface materials market.

IMPACT OF COVID-19 PANDEMIC

The closure of automotive and electronic manufacturing sites due to the COVID-19 lockdown restrictions in many countries globally impacted the thermal interface material's demand. However, medical facilities' demand for electronic medical equipment equipped with thermal interface materials has aided the market to witness moderate growth during the period. Reopening of consumer goods shops and supermarkets post COVID-19 pandemic supported the market growth globally.

MARKET PLAYERS

The report covers key developments and organic/inorganic growth strategies implemented by key thermal interface materials market players. Various companies are focusing on organic growth strategies such as product launches, product approvals, and patents and events. Inorganic growth strategy’s activities witnessed in the market were acquisitions, partnerships & collaborations. These activities have paved the way for business expansion and market players' customer base. The market players in the thermal interface materials market are anticipated to witness lucrative growth opportunities in the future with the rising demand for thermal interface materials. 

The report also includes the profiles of key thermal interface materials market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information for the last 3 years, and key development in the past five years. Below is a list of a few companies engaged in the thermal interface materials market.

• SEMIKRON
• Honeywell International Inc.
• Wakefield-Vette, Inc.
• 3M
• DK THERMAL METAL CIRCUIT TECHNOLOGY LTD.
• Henkel AG and Co. KGaA
• Indium Corporation
• Momentive Performance Materials Inc.
• Dow Corning Corporation
• Parker Hannifin Corp.

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offers various customization options in the existing study.

Thermal Interface Materials Report Scope