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ALBANY, New York, September 13, 2019 – The global thermal interface materials market is likely to witness speedy expansion during the assessment period. The market gains momentum from the exponential growth of the electronics and telecom industry.
Bergquist Company, Momentive Performance Materials Inc., Parker Chomerics, Henkel Corporation, and Laird Technologies are some of the prominent market vendors in the global thermal interface materials market.
The global thermal interface materials market is likely to reach a valuation of US$ 4,210 mn through 2026. During the review period, the market is projected to clock 9.0% CAGR. Of the various types of thermal interface materials, adhesives and corn greases is likely to expand at a potentially attractive growth rate from 2018 to 2026.
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Asia Pacific to Emerge as a Rapidly Growing Region during the Assessment Period
North America, South America, Europe, Middle East and Africa, and Asia Pacific comprise the primary regional segments of the global thermal interface materials market.
In terms of region, Asia Pacific commanded the global thermal interface materials market in 2017. This growth is ascribed to the high demands for products of electronics and telecommunication industry. The electronics and telecommunication industry has experienced an exponential growth in India and China. This growth mainly is the result of rising disposable income of the region and decreasing price of electronics. Government initiatives to propagate the use of smartphones, and internet services have also contributed to the industry’s expansion. Following this, the region is likely to offer tremendous growth opportunities for the global thermal interface materials market in future.
The market in North America is likely to experience substantial expansion due to burgeoning demand generated in the electric vehicles industry. Thermal interface materials are used in electric vehicles for preventing overheating of the electronic components present in a vehicle. Electric vehicles industry is another major contributor of revenue for the market.
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Phenomenal Use of Mobile Devices Worldwide Likely to Accelerate Growth of the Market
Thermal interface materials are mainly used for transporting thermal conductivity to heat sink coolers from GPUs or CPUs. Several important components of a computer, such as hard disk drives, chipsets, graphics cards, and CPUs are vulnerable to failures owing to overheating. Thermal interface materials are utilized for the purpose of removal of excess heat generated by parts of a computer and maintain limits of operating temperature.
Improvement in the flow of heat is obtained by filling any irregularities or voids between the SSE base plate mounting surfaces and heat sink. The expanding demand for supercomputing and cloud technologies is bolstering the demand for thermal interface materials. In the computer industry, the main concern is overheating. It limits reliability, power, performance, and most important of all – miniaturization of components.
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The global thermal interface materials market is likely to gain substantial traction from the burgeoning demand and use of mobile devices. These devices generate substantial revenue for the electronics & semiconductor industry. The exponential rise in demand for mobile handsets, reduced data and voice tariffs, and diminished prices of both high-end and regular handsets have triggered the growth of mobile devices industry, which further stimulates growth of the market.
Additionally, electrification of vehicles is another significant element stimulating the growth of global thermal interface materials market. Progress in fuel cell technologies and batteries together with power train systems has introduced extremely fuel-efficient vehicles. There is an emerging trend of integrating electronic and electric gadgets into vehicles. Therefore, thermal management has taken the front seat for vehicle makers when it comes to adding features. Rise in the demand for thermal management will accelerate demand for thermal interface materials.
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The information shared in this review is based on a TMR report, bearing the title, “Thermal Interface Materials Market (Material – Adhesives and Greases, Thermal Tapes and Films, Gap Fillers, Thermal Phase Change Materials, Metal-based Thermal Interface Materials; Application – Computers, Automotive Electronics, Industrial Machinery, Telecommunications, Consumer Durables, Medical Devices) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2018 – 2026”.
The global thermal interface materials market is segmented based on:
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