According to IMARC Group’s latest report, titled “Thermal Interface Materials Market Size, Share, Growth, Opportunity and Forecast 2020-2025”, the global thermal interface materials market grew at a CAGR of around 12% during 2014-2019. Looking forward, IMARC Group expects the global market has huge potential for growth during 2020-2025.
Thermal interface materials (TIMs) are a class of products used to establish a thermal path between a heat-generating component and a heat sink. These materials act as an insertion medium between two mechanically mated surfaces. Some of the common types of thermal interface materials are thermal grease, gap fillers, thermal pads and films, graphite pad and films, thermal epoxy, thermal tape, etc. They provide optimal functioning to the electronic device by dispersing the heat. As a result, thermal interface materials are widely used across numerous industries, including packaging, communication, consumer electronics, automobile, etc.
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The rising demand for consumer electronics across the globe is primarily augmenting the market for thermal interface materials. Furthermore, the growing adoption of thermal interface materials in the automotive industry for heat management in vehicles, is also propelling the market growth. Moreover, the increasing popularity of TIMs in LED lights to enhance the performance of LED by absorbing the thermo-mechanical stress, is further catalyzing the global market. Additionally, several technological advancements have led to the development of novel thermal interface materials based on nanodiamonds, which are further expected to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global thermal interface materials market report, along with forecasts for growth at the global, regional and country-level from 2020-2025. Our report has categorized the market based on region, product type, and application.
Breakup by Product Type:
• Tapes and Films
• Elastomeric Pads
• Greases and Adhesives
• Phase Change Materials
• Metal Based Materials
Breakup by Application:
• Medical Devices
• Industrial Machinery
• Consumer Durables
• Automotive Electronics
Breakup by Region:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
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The report has also analysed the competitive landscape of the market with some of the key players being 3M Company, Dow Inc., Henkel AG & Co. KGaA, Honeywell International Inc., Indium Corporation, Kitagawa Industries America Inc., Laird Technologies Inc. Momentive Performance Materials Inc., Parker-Hannifin Corporation, Zalman Tech Co. Ltd., etc.
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