Adroit Market Research published a study titled, “Global Thermal Interface Materials Market Size 2017 By Product (Greases & Adhesives, Elastomeric Pads, Tapes & Films, Metal-Based, and Phase Change Materials), by Application (Computer, Telecom, Automotive Electronics, Consumer Durables, Medical Devices, and Industrial Machinery), By Region and Forecast 2018 to 2025”. The report covers a detailed overview of the global thermal interface materials market based on drivers, restraints and future opportunities. Additional tools such as Porter’s Five Forces and value chain analysis are included to give a holistic view of the market. The global thermal interface materials market report also includes the prevailing trends impacting the dynamics. Furthermore, the report provides an overview of the global thermal interface materials market share in the key regions and countries.
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The global thermal interface materials market size is projected to be worth USD 3.57 billion by 2025. The global thermal interface materials industry is expected to witness tremendous growth as a result of the rising practice of miniaturization of systems leading to increased heat generation in these devices. This excess heat generation has accentuated the need for thermal interface materials solutions to manage and dissipate the heat by providing a thermal barrier which limits the efficiency of heat loss from the device. Rising awareness regarding efficient lighting systems in the form of LED lights has spurted its demand over the conventional lights. This trend is expected to drive the global thermal interface materials market size in the foreseeable years.
Phase change materials (PCMs) is projected to hold a valuation exceeding USD 225 million by 2025. PCMs operate on the latent heat thermal storage principle to absorb large amounts of energy when there is a surplus and release it when there is a deficit. The phase change materials have the ability to maintain internal temperatures at any desired temperature due to their high latent heat capacity. The growing focus on climate change and the use of renewable energy has contributed to greater research and development in PCMs due to their ability to maintain internal temperatures without gas or fuel. PCMs are used in various industries including photovoltaic electricity systems, waste heat recovery systems, solar cooling & solar power plants, aerospace, consumer electronics, and food & pharmaceutical industry. Thus, the increasing application is projected to impact the global thermal interface material market share over the forecast period.
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Medical devices are projected to be the fastest growing application segment exceed 11% of the global thermal interface materials market share by 2025. Medical devices are witnessing an increasing shift towards miniaturization driven by safety factors, performance, and portability. Design engineers are facing new challenges with smaller instruments in meeting their projects’ performance, weight, size, operating temperature, and budget requirements. Each of these factors also impacts thermal management technology choices. Thermal management enables consistent temperature control and the power level of a device to be maintained without increasing the operating temperature. Furthermore, progress in the medical industry and the increasing use of wearable electronics are expected to create enormous growth potential over the forecast period.
The Middle East & Africa is anticipated to grow at a CAGR of 11.6% between 2018 and 2025. The booming medical devices industry in the region is expected to fuel the demand for thermal interface materials. Technological innovation, population growth, growing medical tourism industry, healthcare infrastructure development, and digital transformation are several other factors which are expected to offer lucrative opportunities for market growth. Additionally, the growth of automotive electronics due to favorable government policies, the increase in the number of automotive fleets and the large increase in foreign investments in the automotive industry will drive the thermal interface material market share growth in the region.
The competitive landscape of the global thermal interface materials market is fragmented with a large number of players with global and regional presence. The key players in the thermal interface materials report include Wakefield-Vette, Indium Corporation, SEMIKRON Inc., DK Thermal, Parker Hannifin Corp, 3M, Laird Technologies, Honeywell International Inc., Henkel AG & Company KGaA and Dow Corning among others.
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Key segments of the global thermal interface materials market
Product Overview, 2015-2025 (USD Million)
• Tapes & Films
• Elastomeric pads
• Greases & Adhesives
• Phase Change Materials
Application Overview, 2015-2025 (USD Million)
• Medical Devices
• Industrial Machinery
• Consumer Durables
• Automotive Electronics
Regional Overview, 2015-2025 (USD Million)
• North America
• Rest of Europe
• Asia Pacific
• Rest of APAC
• Latin America
• Rest of Latin America
• Middle East and Africa
• Saudi Arabia
• Rest of Middle East and Africa
Key Players analyzed in the report include
• Wakefield-Vette, Inc.
• DK Thermal Metal Circuit Technology Ltd.
• Indium Corporation
• Parker Hannifin Corp
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