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The Global Thermal Interface Materials Market size is expected to reach $5.5 billion by 2028, rising at a market growth of 11.4% CAGR during the forecast period. The materials with high thermal conductivity are termed as thermal interface materials (TIMs). They act as an interface medium for dissipating heat produced from a heat source to the sink. By replacing the thermally insulating air and the voids present between the surfaces, thermal interface materials are used as the second thermal conductive material.
Global Thermal Interface Materials Market Size
The heat dissipated is vital for maintaining properties like reliability and longevity of electronic devices and semiconductors. Therefore, thermal interface materials play an important role in the electronics industry as these materials have effective heat transferring property. They are used for improving the heat transfer in electronic components such as, CPU, graphic cards, hard disks, chipsets, microprocessors, LED, IC packaging etc.
The key factors that are driving the global market are high demand from the electronics industry, increasing reduction of electronic devices, and continuous launch of new products and expansion activities started by different companies. Phase change materials are expected to become one of the fastest-developing industries over the coming days. At room temperature, they are in solid phase and change its phase to liquid as it melts when temperature rises. This property of Phase change materials makes them easy to handle and can effectively conduct heat both below and above the melting point.
Thermal Interface Materials Market Share
Free Valuable Insights: Global Thermal Interface Materials Market to reach a market size of $5.5 billion by 2028
Based on Products, the market is segmented into Greases and Adhesives, Elastomeric Pads, Tapes and films, Metal Based, Phase change materials and Others. Based on Applications, the market is segmented into Computers, Medical Devices, Automotive Electronics, Industrial Machinery, Telecom Equipment, Consumer Durables, and Others. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 3M Company, Honeywell International, Inc., Parker-Hannifin Corporation, Henkel AG & Company, KGaA, Shin-Etsu Chemical Co., Ltd., Indium Corporation, Fuji Polymer Industries Co., Ltd., Momentive Performance, Materials, Inc., Semikron International GmbH, and AIM Specialty Materials.
The global thermal interface materials market size is expected to reach $5.5 billion by 2028.
There are several reason that cause high demand of this market one of them is increasing demand for miniaturization of electronic devices.
3M Company, Honeywell International, Inc., Parker-Hannifin Corporation, Henkel AG & Company, KGaA, Shin-Etsu Chemical Co., Ltd., Indium Corporation, Fuji Polymer Industries Co., Ltd., Momentive Performance, Materials, Inc., Semikron International GmbH, and AIM Specialty Materials.
The Asia Pacific dominated the market with the highest growth rate.
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