According to IMARC Group’s latest report, titled “Thermal Interface Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global thermal interface materials market grew exhibited strong growth during 2015-2020. Thermal interface materials are widely used to facilitate heat dissipation between two heat-producing devices. They are generally made up of silicone and offer a thick bond line that aims to provide effective heat transfer while enhancing the performance and shelf life of electronic devices. Some of the commonly utilized thermal interface materials are adhesive tapes, phase-change materials, potting compounds, liquid adhesives, and gels and greases.
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The global market is primarily driven by the rising demand for consumer electronic devices across the globe. Along with this, the increasing usage of thermal interface materials in the automotive sector for manufacturing automobile electronics is creating a positive outlook for the market. Also, their widespread utilization in the manufacturing of energy-efficient light-emitting diode (LED) is further providing an impetus to the market growth. Some of the other factors contributing to the market growth including the inflating disposable income levels of the masses and extensive research and development (R&D) activities. Looking forward, IMARC Group expects the market to grow at a CAGR of around 10% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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