Thermal Interface Materials Industry worth $5.6 billion by 2027 Globally, at a CAGR of 10.5 %, says MarketsandMarkets™

Chicago, Aug. 09, 2023 (GLOBE NEWSWIRE) -- The Thermal Interface Materials Market is projected to grow from USD 3.4 billion in 2022 to USD 5.6 billion by 2027, at a CAGR of 10.5% from 2022 to 2027, as per the recent study by MarketsandMarkets™. The market for thermal interface materials has experienced significant growth, primarily due to growing need of thermal management solutions in ever-shrinking electronic components and systems.

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Browse In-Depth TOC On "Thermal Interface Materials Market”

205 - Market Data Tables
49 - Figures
208 - Pages

List of Key Players in Thermal Interface Materials Market:

1. Honeywell International Inc. (US)
2. 3M (US)
3. Henkel AG & Co. KGaA (Germany)
4. Parker Hannifin Corporation (US)
5. Dow (US)
6. Laird Technologies Inc. (US)
7. Momentive (US)
8. Indim Corporation (US)
9. Wakefield Thermal Inc. (US)
10. Zalma Tech Co. Ltd. (South Korea)

Drivers, Restraints, Opportunities and Challenges in Thermal Interface Materials Market:

1. Drivers: Growing LED market to drive demand for thermal interface materials.
2. Restraints: Physical properties limiting performance of thermal interface materials.
3. Opportunity: High-performance thermal interface materials in the form of nanodiamonds.
4. Challenges: Finding optimum operating costs for end users.

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Key Findings of the Study:

1. Silicone is the largest and fastest-growing chemistry segment of the thermal interface materials market.
2. Medical devices is the largest application of thermal interface materials market.
3. APAC is the largest regional market for thermal interface materials during the forecast period.

Silicone is most widely used chemistry in thermal interface materials market. Owing to various advantages such as bond to difficult combinations of materials, reliability over a wide temperature range, and low cost, silicone has the largest application space among other chemistry segments.

Greases & adhesives is most widely used type in thermal interface materials market. It is a popular type for thermal management because it spreads out and thins thus decreasing the thermal resistance between heat source and heat sink. Its large market size is attributed to its easy implementation and various applications in growing industries such as cloud compute, industrial, and power.

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Segmentation because of type includes tapes & films, greases & adhesives, metal based TIMs, phase change materials, gap fillers, and others. Greases & adhesives is the largest type of segment during the forecast period. This is attributed to the good workability, and easy to apply, including automated dispensing property of greases & adhesives.

Segmentation because of application includes consumer durables, computers, automotive electronics, medical devices, telecom, industrial machinery, and others. Computers are projected to be the largest application segment during the forecast period. This is attributed to the rapid increasing in demand for computers coupled with applications of thermal interface materials for thermal management in electronic parts.

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