San Francisco, 19 December 2023: The Report Thermal Interface Materials Market Size, Share & Trends Analysis Report By Product (Tapes & Films, Adhesives), By Application (Telecom, Computer), By Region, And Segment Forecasts, 2023 - 2030

The global thermal interface materials market size is expected to reach USD 7.89 billion by 2030, registering a CAGR of 11.2% over the forecast period, according to a new report by Grand View Research, Inc. The increasing use of electrical equipment and electronic gadgets is expected to boost the market for thermal interface materials during the forecast period.

The rising demand for high-grade specifications in electronic devices due to the increased need in terms of consumer electronics and technology innovation is expected to support the growth of thermal interface materials. Moreover, the growing demand for the latest technological gadgets and specialty electronics for high-end operations is expected to augment the market in the projected time.

Commercial availability and enhanced performance characteristics of the products to reduce the heat transfer are likely to support the demand. Thermal interface materials conduct more heat than air, which it displaces as a substance to fill the imperfection between the physical contact of solid surfaces. These materials can also extract waste heat generated when a semiconductor electronic device is used to its maximum potential. Increased use of electronic devices in various areas such as consumer goods, and automobiles and the use of smart devices in the household, commercial, and industrial operations are expected to augment the growth of thermal interface materials during the forecast period.

The COVID-19 pandemic impacted the increased use of smart devices and electrical appliances by consumers. As a result, production and demand for thermal interface materials have increased. During the pandemic, however, supply chain disruption caused by governmental restrictions had a minor negative impact on the market.

The market is highly competitive for a variety of reasons, including the high level of innovation in terms of product innovation and performance, the remarkable impact of e-commerce on the shopping experience, and product substitutes.

The increasing use of electronic consumer products such as smartphones and laptops, the use of automation in industries in developing countries, and the rising expendable income of the middle-class population are expected to increase the demand for thermal interface materials in the forecast period. Thermal interface materials are applied between two hard surfaces for conducting heat and find usage at times of greater demand for modern electronic devices. Commercial availability of different thermal interface materials in an array of forms coupled with growing applications in the electronic industry is anticipated to drive the demand over the coming years.

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The growing demand for automation in the manufacturing of pharmaceuticals and medical machinery is expected to drive the demand for thermal interface materials over the forecast period. Furthermore, the demand for pharmaceuticals and medical products is growing with the increasing incidences of illnesses and diseases among the population in developed as well as developing economies. This is likely to drive the demand for thermal interface materials across the globe.

Thermal Interface Materials Market Report Highlights

• The computer application segment registered the highest market share of 24.0% in utilizing the product, followed by the telecom sector owing to rising reliance on computers and laptops globally for personal and professional use
• The market for greases and adhesives products in 2022 accounted for USD 1,164.6 million in revenue and is expected to expand at a CAGR of 11% over the forecast period owing to their suitable lubrication properties like viscosity, thermal stability, and oxidation resistance
• Asia Pacific was the largest regional segment accounting for 38.1% of the total market share in terms of revenue in 2022 due to the prominence of expansion in the medical and pharmaceutical industry in the emerging economies
• Tapes & films accounted for a revenue of USD 508.7 million in 2022 on account of high demand for the electronic and electrical equipment due to requirements related to heat dissipation

The increased use of phones and other smart devices has led to an increased demand for thermal interface materials in developed countries such as the U.S. The need for fast-speed networks, higher bandwidth, and increased system performance due to the boom in the computer industry and increased IT activities is also expected to augment the growth of the market.

Thermal interface materials are widely utilized in consumer electronics for improving performance, sustainability, quality, functionality, and environmental properties. These materials help boost the overall lifespan of consumer electronics on account of their high protection & durability. Moreover, the growing need for thermal conductivity in high-end electronic products is anticipated to support the market over the forecast period.

The pandemic has changed consumer purchase behavior which has led to increased use of consumer electronics such as tablets, phones, and video games. The demand for automation in applications such as pharmaceutical and medical industries has also seen a rise due to increased demands for drugs and medical equipment during and post-pandemic.

Thermal Interface Materials Market Report Scope

The thermal interface is commonly known to provide efficient heat management solutions required for improving the system’s overall performance and lifespan. Various products of thermal interfaces available in the market include greases, thermal tapes, elastomeric pads, and solders. The materials selection criteria are based on mechanical factors, electrical insulation, quality, thermal resistance, performance, and material compatibility.

The product is anticipated to witness significant gains owing to its thermal conductivity nature which helps in strengthening the life and efficiency of the electronic device or the equipment where it finds its application. The product is usually made of conducting materials like silicone, metal oxides, or metals.

List of Key Players in the Thermal Interface Materials Market

• The 3M Company
• Henkel
• Indium Corporation
• Fujipoly
• The Dow Chemical Company
• Honeywell International Inc.
• SIBELCO
• Shin-Etsu