The global thermal interface materials market size is expected to reach USD 4.75 billion by 2030, according to a new study by Polaris Market Research. The report “Thermal Interface Materials Market Share, Size, Trends, Industry Analysis Report, By Composition (Epoxy, Polyimide, Silicone, Others); By Type; By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The market is driven by factors such as increasing adoption of automation solutions, miniaturization of electronic devices, and growing demand for high-speed computing solutions. Greater penetration of smartphones and other mobile devices accelerates across the globe, and growth in manufacturing, industrial, and telecommunication industries would offer growth opportunities during the forecast period.
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The different types of thermal interface materials include tapes and films, elastomeric pads, greases & adhesives, metal-based interface material, and others. The greases and adhesives segment accounted for a major share in the market in 2021. However, the demand is expected to increase in the coming years owing to a rise in applications in automotive, telecommunication, and applications.
Based on application, the industry is segmented into computers, medical devices, telecom, automotive electronics, consumer durables, industrial machinery, and others. The computers segment accounted for a significant revenue share in 2021 owing to rising demand for desktops and laptops and growth in online education platforms.
The automotive segment is expected to experience significant growth during the forecast period on account of greater demand for thermal interface materials to accommodate high voltage systems in electric vehicles.
Asia-Pacific is expected to grow at a high CAGR during the forecast period. Increasing industrial growth and urbanization have resulted in greater demand for consumer devices, supporting the growth of the industry. There has been a rise in the adoption of electric and hybrid vehicles in Asia-Pacific, leading to an increase in demand for miniaturized and high-performing electronics. Growth in healthcare expenditure in the region and technological advancements associated with medical devices are expected to offer growth opportunities during the forecast period.
Thermal Interface Materials Market Report Highlights
- Silicone segment accounted for a major share of the market in 2021 owing to its wide application in greases & adhesives, thermal pads, and gap fillers
- Phase change materials segment is expected to experience growth during the forecast period on account of increased application in automotive and medical applications
- The computer segment accounted for a significant market share owing to greater demand for desktops and laptops
- Asia-Pacific is expected to experience significant growth during the forecast period owing to rise in demand for telecommunication and consumer devices from developing countries in the region
- The global thermal interface market is highly competitive owing to the existence of large industry players with a global presence including Hannifin Corporation, Henkel AG, Honeywell International Inc., LORD Corporation, The 3M Company, and the Dow Chemical Company among others
Polaris Market Research has segmented the thermal interface materials market report based on composition, type, application, and region:
Thermal Interface Materials, Composition Outlook (Revenue – USD Billion, 2018 – 2030)
Thermal Interface Materials, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Tapes And Films
- Elastomeric Pads
- Greases & Adhesives
- Phase Change Materials
- Metal Based Thermal Interface Materials
Thermal Interface Materials, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Medical Devices
- Automotive Electronics
- Consumer Durables
- Industrial Machinery
Thermal Interface Materials, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa