Dublin, March 26, 2024 (GLOBE NEWSWIRE) -- The "Thermal Interface Materials Market - Global Industry Size, Share, Trends Opportunity, and Forecast, 2028F" report has been added to ResearchAndMarkets.com's offering.
Market Overview
The global Thermal Interface Materials (TIMs) market has demonstrated a substantial valuation of USD 3.26 billion in 2022, with projections of vigorous growth in the next years. The market is set to flourish, witnessing a compound annual growth rate (CAGR) of 4.21% through 2028, propelled by the vital role of TIMs in various electronic devices.
TIMs are pivotal in maintaining device efficiency and longevity by ensuring maximum heat dissipation between microprocessors, LED modules, and other thermal hotspots to heat sinks or spreaders. The expanding deployment of TIMs can be attributed to the massive consumption of electronics, advancement in semiconductor technology, and the robust production of electric vehicles (EVs).
Key Market Drivers
Two major industries propelling the demand for TIMs are the automotive and medical sectors. In automotive, the transition towards EVs and advancement in vehicle technologies like autonomous driving place a pronounced emphasis on effective thermal management. The medical industry’s requirements for TIMs have become more prominent due to the necessity for reliable and efficient medical devices, further highlighted by the COVID-19 pandemic.
Key Market Challenges
Despite the significant opportunities within the TIMs market, there are challenges pertaining to compatibility and material selection. The diverse requirements across different applications demand a careful approach to choosing the most suitable TIM that offers optimal thermal conductivity without impeding system reliability and performance.
Key Market Trends
One of the prominent trends in the market is the accelerating demand for device miniaturization and thinner electronic devices. This trend champions portability and advanced functionality, consequently increasing the demand for innovative and more effective TIMs for enhanced heat management.
Segmental Insights
The greases & adhesives category commanded a major market share in 2022, expected to sustain its position due to the advantages in ease of assembly and lower interface resistance. Phase change materials also project substantial growth due to their applications in energy-efficient building designs.
Electronics and automotive applications dominate the TIMs demand, with the boom in remote work culture augmenting the need for PC upgrades and new installations. The telecom sector is anticipated to grow as the digital economy gains traction, necessitating the robust thermal management solutions provided by TIMs.
Regional Insights
The Asia Pacific region held the largest market share in the global TIMs market, thanks to its extensive manufacturing hubs and supportive governmental policies. While Europe faced challenges due to the pandemic’s impact on the automotive and medical devices sectors, recovery is on the horizon with government focus and foreign investment.
The report offers a comprehensive overview of the TIMs market, segmenting based on type, application, and geographical region, facilitating understanding of market dynamics and growth potential.
Competitive Landscape
The report includes a detailed analysis of major companies operating in the TIMs market, reflecting the competitive landscape and the innovative strategies employed by market leaders to cater to the growing demand.
Future looks optimistic for the global Thermal Interface Materials market, with trends, drivers, and developments shaping the landscape for electronic device efficiency and performance.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $3.26 Billion |
| Forecasted Market Value (USD) by 2028 | $4.17 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- The 3M Company
- Dow Corning Company
- Honeywell International, Inc.
- Indium Corporation
- Henkel AG & Co, KGaA
- Laird Technologies, Inc.
- Momentive Performance Materials, Inc.
- Fuji Polymer Industries Co., Ltd.
- Shin-Etsu Chemical Co. Ltd.
- Wakefield-Vette, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mloj8t
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