Global Thermal Interface Material Market – Industry Trends and Forecast to 2029

Global Thermal interface material Market, By Chemistry (Silicone, Epoxy, Polyimide),  Type (Gap Fillers, Greases and Adhesives, Elastomeric Pads, Metal Based, Others), Application (Computer, Telecommunications, Automotive, Industrial Machinery, Others), Product Type (Greases and Adhesives, Tapes and Films, Elastomeric Pads, Metal Based, Phase Change Materials, Others) – Industry Trends and Forecast to 2029.

Thermal Interface Material Market Analysis and Size

The thermal interface material market is estimated to grow during the forecast period due to the growing LED market, rising demand for miniaturization of electronic devices, and increasing use of thermal interface material in the medical devices are expected to drive the market growth. The “silicone” is the fastest growing chemistry segment due to their adhesion to an extensive range of substrates, extreme temperature and chemical resistance, and excellent electrical properties over the forecast period.

Data Bridge Market Research analyses that the thermal interface material market is expected to undergo a CAGR of 11.40% during the forecast period. This indicates that the market value, which was USD 2.14 billion in 2021, would rocket up to USD 5.08 billion by 2029.  In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Thermal Interface Material Market Scope and Segmentation

Market Definition

A thermal interface material is any type of material which is filled between two components in order to improve the thermal coupling between them. A common use of thermal interface material is heat dissipation, in which it is inserted between a heat-dissipating device and a heat-producing device, In addition to this, the device lifetime and electronic performance can degrade dramatically under large thermal stress and continuous overheating at the interfaces.

Global Thermal Interface Material Market Dynamics

Drivers

• Growing demand of thermal interface material in electronic devices

Growing demand of electronic devices are expected to drive the growth rate of the thermal interface material market. The growing demand of automation and miniaturization of electronic devices such as touch screen display, mobile display and medical electronic system is expected to a major driving factor for the growth of the thermal interface material materials.

• High usage of thermal interface material in medical devices

The electronic devices which is used in the medical sector require proper thermal management. The rising usage of radiation therapy in the treatment and diagnosis of diseases, mounting demand for wearable electronics and portable medical devices,  and growing adoption of internet of things based smart medical devices have recognised to the rise in demand for medical devices which is expected to boost the growth rate of the thermal interface material market.

Furthermore, growing automobile invention, rising usage of electric components in vehicles, excessive temperature resistance properties, growing disposable income and increasing consumer electronics demand are some of the major factors expected to drive 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. According to the industrial analysis, it is expected that the automotive industry will grow to under nine trillion US dollars by 2030 globally. The new vehicle sales will account for approx. 38% of this value. Hence, the growing automotive sector will create beneficial opportunities for the growth of the thermal interface materials market.

Furthermore, increasing technological advancements, diversity in the end-user industries and increasing demand of thermal interface materials from emerging economies will further increase the several new opportunities for the market to grow during the forecast period.

Restraints/Challenges

• Finding optimum operating costs for end users

The cost of thermal interface materials is directly proportional to their thermal conductivity. However, a rise in thermal conductivity also has an adverse impact on the overall assembly which has reduced the conformability and poor handling of the material. The factors such as viscosity, pressure, outgassing, thermal conductivity, phase change, surface finish, mechanical properties and ease of application of the material affect the cost of thermal interface materials which is influencing the cost of the ownership of equipment.

 This thermal interface material market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the thermal interface material market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Thermal Interface Material Market

The outbreak of COVID-19 pandemic had an adverse impact on many end user industries. This pandemic has changed the purchase behaviour of consumer, which has led to augment the use of consumer electronics such as tablets, video games and phones. Automated applications are also high in demand in several applications such as in medical and pharmaceutical industries due to the augmented demand for medical equipment and drugs following pandemics.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Development

• In January 2022, 3M extended its operations in Clinton, Tennessee. This company adding around 600 new jobs and invested approximately USD 470 million by 2025 at its plant in Clinton, Tennessee. 
• In September 2020, THERM-A-GAP GEL 37, a new single component thermally conductive dispensable material, was launched by Parker Hannifin Corporation. This product launch will aid the company to reinforce its product portfolio in the thermal interface material market.
• In June 2022, a new TIMs, DOWSIL TC-4040 has launched by Dow Corning Corporation. This gap filler possess high thermal conductivity, easy to dispense and resist slumping. This product launch will help the company to stay competitive in the thermal interface material market.
• In June 2020, a new product TIM Bergquist Gap Filler TGF 7000 has launched by Henkel AG and Co. KGaA . It is used for several applications, such as electric pumps, automotive ADAS systems, power conversion systems and others. With this new launch, the company reinforces its product portfolio in the thermal interface material market.

 Global Thermal Interface Material Market Scope

The thermal interface material market is segmented on the basis of chemistry, type, application and product type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Chemistry

• Silicone
• Epoxy
• Polyimide

 Type

• Gap Fillers
• Greases and Adhesives
• Elastomeric Pads
• Metal Based
• Others

 Application

• Computer
• Telecommunications
• Automotive
• Industrial Machinery
• Others

Product Type

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

Thermal Interface Material Market Regional Analysis/Insights

The thermal interface material market is analysed and market size insights and trends are provided by country, chemistry, type, application and product type as referenced above.

The countries covered in the thermal interface material market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the thermal interface material market during the forecast period due to   the presence of huge number of thermal interface material manufacturers, growing electrical and electronics industry and rising production of automobiles in this region.

North America will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to growing applications in the electrical and electronics industry in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Thermal Interface Material Market Share Analysis

The thermal interface material market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to thermal interface material market.

Some of the major players operating in the thermal interface material market are:

• Hylomar LLC (U.K.)
• CSL Silicones Inc. (Canada)
• NUCO Inc. (Canada)
• Sashco, Inc. (U.S.)
• Mcgill Airseal LLC (U.S.)
• Dow (U.S.)
• 3M (U.S.)
• Momentive (U.S.)
• H.B. Fuller (U.S.)
• Henkel AG and Co. KgaA (Germany)
• Sika AG (Switzerland)
• Bostik (France)
• Wacker Chemie AG (Germany)
• Pidilite Industries Ltd. (India)
• MAPEI S.p.A. (Italy)
• PPG Industries (U.S.)
• CSW Industrials, Inc. (U.S)
• llinois Tool Works Inc (U.S.)
• Soudal Group (Belgium)
• Arkema (France)