Detailed Qualitative & Quantitative Analysis on Thermal Interface Materials Market Industry

The global thermal interface materials market size is estimated at USD 2.8 billion in 2020 and is projected to reach USD 4.6 billion by 2025, at a CAGR of 10.4%, between 2020 and 2025. Thermal interface materials fill the small voids and imperfections between heat sinks and heat sources to minimize the thermal resistance. TIMs are used to bond the two components and eliminate air gaps from the interface, creating a thermally conductive bond that efficiently transfers heat from the critical operating components of the device. TIMs are used in various applications such as computers, telecom, consumer durables, medical devices, automotive electronics, industrial machinery, and others.

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Browse 205 market data Tables and 49 Figures spread through 208 Pages and in-depth TOC on “Thermal Interface Materials Market by Chemistry (Silicone, Epoxy, Polyimide), Type (Greases & adhesives, Tapes & Films, Gap Fillers), Application (Computers, Telecom, Consumer Durables, Medical Devices) and Region — Global Forecast”

The key players in the thermal interface materials market are Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), Dow Corning Corporation (US), Laird Technologies (US), Momentive Performance Materials (US), Indim Corporation (US), Wakefield-Vette (US), Zalma Tech Co. Ltd. (South Korea). The thermal interface materialsmarket reportanalyzes the key growth strategies adopted by the leading market players,between 2014and 2020, which include expansions, merger & acquisition, new product developments, and collaborations.

Honeywell International Inc. (US) operates as a diversified technology and manufacturing company. It operates through three business segments: aerospace, automation control solutions, and performance materials & technologies. The company offers TIMs through its performance materials & technologies segment. The company has a wide global presence in the North America, South America, Europe, and APAC.

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3M(US) company is primarily engaged in offering a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. The company operates through five business segments, namely, industrial, safety & graphics, electronics & energy, healthcare, and consumer. 3M Company has a wide geographical presence with operations in more than 65 countries. The company offers TIMs through its electronics and energy segment. 3M operates globally through its subsidiaries such as 3M Canada, 3M Netherlands, 3M Russia, and Scientific Anglers among others.

Recent Developments in Thermal Interface Materials Market

1. In September 2020, Parker Hannifin Corporation launched THERM-A-GAP GEL 37, new single component, thermally conductive dispensable materials. This new product launch will help the company to strengthen its product portfolio in the TIMs market.
2. In July 2020, Dow Corning Corporation launched a new product DOWSIL TC-3065 thermal gel. It is a thermally conductive gel used to dissipate heat from electronic components. This new product launch will help the company to strengthen its product portfolio in the TIMs market.
3. In June 2020, Dow Corning Corporation launched a new TIMs, DOWSIL TC-4040. This gap filler is easy to dispense, possess high thermal conductivity, and resist slumping. This new product launch will help the company stay competitive in the TIMs market.
4. In June 2020, Henkel AG & Co. KGaA launched new TIM Bergquist Gap Filler TGF 7000. It is used for various applications, such as automotive ADAS systems, power conversion systems, electric pumps, and others. With this launch, the company strengthens its product portfolio in the TIMs market.
5. In April 2020, Henkel AG & Co. KGaA launched Loctite EA 9536 magnet bonding tape, which provides high materials expansion for electric motors. This epoxy-based adhesive film can fix the magnet securely in position, fill gaps, and compensate for manufacturing tolerances in the electric motor.
6. In August 2020, Henkel AG & Co. KGaA established a new facility at Salisbury, North Carolina, for the production of UV-curable acrylic pressure-sensitive adhesives (PSA). This expansion will meet the demand for adhesives in the label, tape, medical, and graphic film market.
7. In February 2020, Henkel AG & Co. KGaA started a new production facility in Pune, India. This expansion will help the company to cater to the growing demand of Indian industries for high-performance solutions in adhesives, sealants, and surface treatment products.
8. In May 2019, 3M signed a definitive agreement to acquire Acelity Inc. (US) and its subsidiaries. Acelity Inc. is global medical technology company. This will create sustainable demand for its TIMs in medical devices.

The thermal interface materials market size is projected to grow from USD 2.8billion in 2020 to USD 4.6 billion by 2025, at a CAGR of 10.4%.The thermal interface materials market is witnessing high growth owing to increasing demand for miniaturization of electronic devices, growing LED market, and increasing use of TIMs in end-use industries.

The thermal interface materials market is segmented on the basis ofchemistry into silicone, epoxy, and others. Silicone is largest and is expected to witness the fastest growth rate due to its superior properties such as temperature variation stability, vibration & shock resistance, stability to mechanical stress, and resistance to chemical attack. The demand for epoxy is expected to grow at a second-fastest rate over the next five years.

The thermal interface materials market is segmented on the basis of type into greases & adhesives, tapes & films, gap fillers, metal-based TIMs, phase change materials, and others. Greases & adhesives is largest type owing to the easy to use and its increased use in various applications such as mobile phones, PCs, server CPUs, engine & transmission control modules, memory modules, power conversion equipment, and others. Phase change materials type is the fastest-growing segment in the overall TIMs market because of their increased application in computers.

The thermal interface materials market is segmented on the basis of applications into computers, telecom, consumer durables, medical devices, industrial machinery, automotive electronics, and others. Among these, the computer segment is the largest application due to increasing use of TIMs in CPSs and GPUs of computers. Medical device is the fastest-growing application of TIMs as they play an important role in the development of cutting-edge devices used in imaging, diagnostic, and surgical applications.

APAC is the largest market for thermal interface materials market due to growing population, growing internet user base, rising per-capita income, rapid industrialization, and development of end-use industries. Major companies in the market are establishing and expanding their manufacturing base in APAC region to meet the growing demand for thermal interface materials. Growing economies such as China, India, and Japan are major markets for TIMs in the region.

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