The thermal interface materials market is poised for substantial growth, with forecasts predicting a surge from US$ 2,159.4 million in 2023 to a robust US$ 6,413.3 million by 2033. This surge is primarily attributed to the escalating demand for automation in the production of pharmaceuticals and medical equipment throughout the forecast period. As industries increasingly embrace automated processes, the need for effective thermal interface materials becomes crucial in ensuring optimal performance and reliability of electronic components, further propelling the market’s expansion.
Also, as the prevalence of illnesses and disorders among people in both rich and emerging economies rises, so does the need for medications and medical items. Global sales of thermal interface materials are likely to increase as a result.
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Consumer electronics frequently use thermal interface materials to enhance performance, sustainability, quality, functionality, and environmental attributes. Due to their great protection & durability, these materials contribute to an increase in the lifespan of consumer electronics. Moreover, it is predicted that the market is supported by the rising need for thermal conductivity in high-end electronic devices.
Key Takeaways
- By 2033, the thermal interface materials market in the United Kingdom is likely to expand, with a CAGR of 4.4%.
- In 2023, the United States is expected to develop the thermal interface materials business with a share of 25.5%.
- The thermal interface materials market grew considerably to US$ 2,005 million in 2022.
- The thermal interface materials sector expanded at a CAGR of 3.1% from 2018 to 2022.
- By 2033, China’s thermal interface materials market is projected to develop with a CAGR of 10.8%.
- By 2033, India’s thermal interface materials industry is projected to expand with a CAGR of 11.7%.
- Japan’s thermal interface materials industry is likely to grow significantly, with a 4% share in 2023.
- Australia’s thermal interface materials sector is likely to expand with a share of 1.3% in 2023.
- Germany’s thermal interface materials business is expected to grow, with a share of 12.2% in 2023.
- In 2023, grease and adhesives are expected to dominate the market, with a share of 35.7%, based on the product type.
- In 2023, the computer segment is expected to dominate the market, with a share of 25.1%, based on application.
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Competitors Winning Strategies
Numerous small- and large-scale producers are prevalent in the global market. To accommodate the value chain component of their firm, the companies have thought about diversifying and integrating their business operations. The businesses are attempting to maintain their position as market leaders by taking advantage of economies of scale and growing through acquisitions and mergers. Companies are using mergers and acquisitions to increase the scope of their product offerings and boost product quality.
Recent Development:
- Dow Corning Company introduced the DOWSIL TC-4040 TIMs in June 2022. This gap filler has good heat conductivity, is simple to use, and doesn’t droop. Introducing this new product aids the company’s ability to compete in the TIMs industry.
- Loctite EA 9536 magnet bonding tape, which offers high materials expansion for electric motors, was introduced by Henkel AG & Co. KGaA in April 2020. With the help of an epoxy-based adhesive film, the magnet is fixed firmly in place, gaps are filled, and the electric motor’s manufacturing tolerances are considered.
Key players of the Thermal Interface Materials Market
- 3M Company
- Henkel
- Indium Corporation
- Fujipoly]
- The Dow Chemical Company
- Honeywell International Inc.
- SIBELCO
- Shin-Etsu
- Ray Techniques
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Key Segmentation of the Thermal Interface Materials Market
By Product Type:
- Tapes and films
- Elastomeric Pads
- Greases and adhesives
- Phase change materials
- Metal-Based
- Others
By Application:
- Telecom
- Computer
- Medical devices
- Industrial machinery
- Consumer durables
- Automotive electronics
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa
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