Thermal Interface Material Systems Market Would Rocket up to USD 6.93 billion with a Potential Growth rate of 10.5% by 2029 | Says Exactitude Consultancy

Luton, Bedfordshire, United Kingdom, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Thermal Interface Material Systems Market.

The global thermal interface material systems market is expected to grow at 10.5% CAGR from 2023 to 2029. It is expected to reach above USD 6.93 billion by 2029 from USD 2.82 billion in 2022.

Thermal interface materials are materials that are used to disperse heat from electronic devices and enhance heat transmission. They are usually sandwiched between the dissipating device or heat-spreading substrate and the components or heat-generating chip. Thermal Interface Materials represent significant difficulties for materials research due to the numerous conceivable applications and a vast range of materials. Thermal management in the electronics industry is highly complicated and necessitates a thorough understanding of the material characteristics of the TIMs used.

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• In June 2022, Dow Corning Corporation introduced DOWSIL TC-4040 dispensable thermal pad. The new product offers high thermal conductivity and resistance against slumping. The product launch is aimed at enhancing the company’s product offerings in the market and cater to the growing consumer demand.
• In April 2021, Parker Hannifin Corporation introduced THERM-A-GAP GEL 75. It is a single component dispensable thermal interface material suitable for use in high-powered electronics. The product is developed for applications such as automotive safety electronics modules, memory & power modules, telecommunications equipment, and power supplies.
• In May 2022, Arieca, collaborated with ROHM Co., Ltd. for a joint research agreement aimed at the development of next-generation thermal interface materials for the xEV market. The research uses Arieca’s Liquid Metal Embedded Elastomer Technology for development of next-generation SiC power modules for xEV applications.

Key findings of the report:

• The IT & telecom industry has emerged as the leading market segment among the various end-user industries. The rising use of computers and various other electronic devices in this sector is a key parameter inducing the growth of this segment. The IT segment accounted for a significant market share of 21.78% in 2022 and is likely to flourish at a CAGR of 11.6 % over the forecast period.
• Among the leading market regions, North America is the largest thermal interface materials market, with the highest revenue share. The region’s booming electronics industry, introduction of technologically advanced electronic devices, growing automotive and IT & telecom sectors, and surging demand for advanced equipment in the healthcare sector are pivotal factors accelerating the global market growth.
• Major companies operating across the global thermal interface materials market include Bergquist Company, Henkel AG & Co. KGaA, Indium Corporation, Dow Corning, 3M, Parker Chomerics, Honeywell Internatrional Inc., Momentive Performance Materials Inc., Laird Technologies, and Zalman Tech Co., Ltd.

Asia-Pacific (APAC) is anticipated to hold the greatest share which is about 38%.

This is explained by the rise in demand for thermal interface materials across a number of end-use sectors, including communications, consumer durables, and medical devices. With substantial growth in the transportation, packaging, pharmaceutical, food & beverage, construction, and electronics & telecommunication industries in recent years, APAC has become the largest industrial hub in the world, which has boosted the demand for thermal interface materials in the area.

Demand for thermal interface materials is anticipated to increase as 5G and the demand for high-speed connectivity both take off.

Storage systems and cloud servers are experiencing heating problems due to associated greater data rates. The usage of thermal interface materials is also seen to be very advantageous in the development of strong, effective, and trustworthy communication infrastructure systems. Additionally, as consumers want thinner, lighter, and quicker technology, circuitry inside of those gadgets is becoming denser, raising the likelihood of heat problems. The usage of 5G mobile technology is only predicted to exacerbate these problems.

High-performance diamond-like nanomaterials growth boosting factors for thermal interface material market

TIMs occupy the space between the two surfaces engaged in heat transmission and compel air to escape. Metal oxides, ceramics, and silver powders are the most popular TIMs because they are efficient heat conductors. Israeli business Ray Techniques Ltd recently created TIMs based on nanodiamonds that have a very high capacity for heat dissipation while yet having a low dielectric constant.

Thermal Interface Material Systems Market Report Scope

Competitive Landscape:

Players of the market have launched new products in the market to have more competition in the market with their advanced solutions. It includes R&D investments, launch of new and advanced products in the market. Companies have been applying strategies such as partnerships, mergers, and acquisitions to back their market position.   

The Thermal Interface Material systems market key players include Honeywell International Inc., The 3M Company, Henkel AG & Co. KGaA, Parker Hannifin Corporation, Dow Corning Corporation, Laird Technologies, Momentive Performance Materials, Indim Corporation, and Wakefield-Vette.

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Key Market Segments: Thermal Interface Material Systems Market

Thermal Interface Material Systems Market by Product, 2023-2029, (USD Billion), (Thousand Unit)

• Tapes And Films
• Elastomeric Pads
• Greases And Adhesives
• Phase Change Materials
• Metal-Based
• Others

Thermal Interface Material Systems Market by Application, 2023-2029, (USD Billion), (Thousand Unit)

• Telecom
• Computer
• Medical Devices
• Industrial Machinery
• Consumer Durables
• Automotive Electronics
• Others

Comparing the historical outlook and ongoing Trends of this Market

This industry sphere has been witnessing a substantial growth over the stipulated timeframe due to the impact of numerous development propellants.

There has been an accelerating demand for high-speed connectivity across the globe. The advent of the 5g network to cater to the ever-increasing connectivity requirements of the masses is one of the major expansion catalysts for this marketplace. It is evident that, high volume of data procured through 5G internet tends to create heating issues in cloud servers and device storage systems. This has resulted to the increased need for efficient, robust, safe, and highly reliable communication infrastructure. Thermal interface materials easily mitigate the heating issues across servers and devices, making communication easier for the masses.

Apart from that, the increasing trends of device miniaturization is another factor resulting in the widespread adoption of these materials. People are always on a look out for slimmer, lighter, and faster communication devices to eliminate portability issues. But this is also leading to a steep rise in heating issues across the devices, thereby escalating the demand for efficient thermal interface materials. This in turn is stimulating the overall dynamics of this business sphere.

Thermal Interface Material Market Dynamics

Drivers

• Growing demand of thermal interface material in electronic devices

The market for thermal interface materials is anticipated to rise at a faster rate due to rising demand for electronic gadgets. It is anticipated that a key reason in the expansion of the thermal interface material materials would be the rising need for automation and shrinking of electronic equipment, such as touch screen displays, mobile displays, and medical electronic systems.

• High usage of thermal interface material in medical devices

The correct thermal management is necessary for the electronic equipment utilised in the medical industry. Rising demand for wearable electronics and portable medical devices, as well as growing adoption of internet of things (IoT) based smart medical devices, have been recognised as factors contributing to the rise in demand for medical devices, which is anticipated to accelerate the growth rate of the thermal interface material market.

Opportunities

• Growing demand of thermal interface material in automotive sector

Thermal interface materials are extensively used in automobiles due to the presence of several types such as indispensable gels, gap filling and insulating pads, adhesive tapes, and greases. The industrial research predicts that by 2029, the global automobile sector would be worth less than nine trillion US dollars. About 38% of this value will come from sales of new cars. Consequently, the expanding automotive industry will generate favourable possibilities for the expansion of the market for thermal interface materials.

Restraints/Challenges

• Finding optimum operating costs for end users

The cost of thermal interface materials is directly proportional to their thermal conductivity. A gain in heat conductivity, however, also negatively affects the assembly as a whole, reducing the material's conformability and handling. The cost of thermal interface materials has an impact on the cost of equipment ownership due to characteristics including viscosity, pressure, outgassing, thermal conductivity, phase change, surface quality, mechanical qualities, and ease of application of the material.

Key Question Answered

• What is the current size of the Thermal Interface Material systems market?
• What are the key factors influencing the growth of Thermal Interface Material systems?
• What are the major applications for Thermal Interface Material systems?
• Who are the major key players in the Thermal Interface Material systems market?
• Which region will provide more business opportunities for Thermal Interface Material systems in future?
• Which segment holds the maximum share of the Thermal Interface Material systems market?

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About Exactitude Consultancy

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