Due to the rise in demand for thermal management solutions across a number of end-use sectors, the global market for thermal interface materials is expanding. The market is anticipated to be pushed by the escalating need for automotive applications, consumer electronics, solar energy, and light-emitting diodes (LEDs).
The market is expanding as a result of the expanding use of miniaturised devices, ongoing technological developments in thermal interface materials, and rising consumer demand for energy-efficient products. Government programmes to fund research and development activities and promote renewable energy are also helping this sector expand. The strict laws controlling energy efficiency implemented by regulatory bodies in various nations are also anticipated to fuel industry expansion. Market participants should profit from the rising demand for efficient and environmentally materials over the remainder of the forecast timeframe.
For heat dissipation and to maximise the thermal performance, efficiency, and dependability of components, the thermal interface materials market is crucial. An interface between two thermally dissipating items, such as a CPU and a heat sink, is provided by thermal interface materials (TIM). In order to lessen thermal resistance at the interface, they also serve as a bridge between the two surfaces.
Additionally, TIMs shield the parts from any deterioration brought on by thermal expansion and contraction. Applications for TIMs include consumer electronics, automotive, medical technology, industrial equipment, etc. Due to the rising need for electronics goods across numerous industries, including automotive, aerospace, and healthcare, the market for Thermal Interface Materials is anticipated to increase significantly in the near future.
When two surfaces need to be thermally connected, the spaces between them are filled using a material called a thermal interface material (TIM). The main objective of a TIM is to improve heat between the two surfaces. Numerous industries, including LED lighting, consumer electronics, solar energy, telecommunications, the automotive industry, and others use TIMs. There are many different TIM variations available, each with its own advantages and disadvantages. The most popular TIM kinds are gap fillers, thermal adhesives, thermal pastes, thermal pads, thermal greases, and thermal oils. Additionally, some TIMs are made to increase the two surfaces' electrical insulation.
The market for thermal interface materials is expected to grow at a 6.3% CAGR between 2021 and 2031, reaching a value of USD 3.2 billion in 2021.
This is primarily caused by the growing use of thermal interface materials in applications for consumer electronics, LEDs, solar energy, and automobiles. Thermal interface materials are used to transfer heat from one electronic component to another while lowering the temperature of the receiving component.
The market for thermal interface materials is constrained by several factors. The price volatility of raw materials is the first. Metals, ceramics, and polymers are just a few of the raw elements used to create thermal interface materials. Price changes for these materials might have a detrimental effect on the market. The difficulties in achieving the ideal blend of characteristics for certain applications are another constraining factor.
Different amounts of thermal conductivity, electrical conductivity, and other characteristics are needed for various purposes. Finding a material that fully satisfies the demands of a specific application might be challenging. The difficulty of controlling production costs comes last. Thermal interface materials must frequently be made in large quantities and with specialised machinery. Keeping manufacturing costs low can be challenging as a result. However, in order to increase productivity and cut costs, businesses are increasingly putting money into automation and other technology. In order to cut expenses, businesses are also concentrating on creating more effective thermal interface materials.
The leading producers of thermal interface materials include The Bergquist Company, Inc., Dow Corning Corporation, Henkel AG & Co. KGaA, Laird PLC, and 3M Company (US) (US). AlphaTherm LLC (US), Indium Corporation (US), Heraeus Holding GmbH (Germany), Cookson Electronics Assembly Materials Ltd. (UK), and Henkel Adhesives Technologies India Pvt. Ltd. are a few of the other major competitors in this sector (India).
The Thermal Pads Category emerged as the Most Lucrative Type
According to their type, thermal interface materials can be categorised into six groups: thermal pads, thermal grease, thermal paste, thermal adhesive, gap fillers, and others. Due to its greater thermal conductivity qualities compared to other thermal interfaces materials like thermal pads or grease, thermal paste commands the lion's share of the global market among these six categories. In addition, because it is non-conductive, it can be used in electrical equipment where insulating features are crucial.
The Most Prominent Application is the Consumer Electronics Category
Consumer electronics has the biggest market share among all segments in terms of application segmentation. This is mostly caused by the rise in popularity of consumer electronics products like smartphones, tablets, and laptops, which need effective cooling systems for their internal components. The need for thermal interface materials is increasing as a result of the increased use of these technologies in society.
The Asia Pacific Region to render Ample Financing Opportunities
North America, South America, Asia Pacific, Europe, and the Middle East & Africa make up the five geographical segments that make up the global market for thermal interface materials. Due to the presence of top manufacturers and rising investments in research and development efforts pertaining to thermal interface materials, Asia Pacific is predicted to account for a sizable portion of this market in terms of geographical analysis. Additionally, this region is predicted to become a significant hub for makers of thermal interface materials in the next years due to nations like China enacting strict restrictions on car emissions that need for effective cooling solutions.
COVID-19 Impact and Market Status
On the market for thermal interface materials, the COVID-19 epidemic has had a considerable effect. The global shutdown has caused a slowdown in the manufacture of consumer electronics and automotive products, which has had an impact on the need for thermal interface materials. The market is anticipated to rebound in the upcoming months, though, as economies progressively reopen and industry activity picks up. Additionally, it is anticipated that the market would develop as a result of the rising demand for high-performance electronics and the need to cut energy losses. Additionally, it is anticipated that the market demand would be boosted by the growing trend of consumer electronics miniaturisation and the increased attention on the creation of effective cooling solutions.
Recent Developments in the Thermal Interface Materials Market
• Dow unveiled a brand-new thermal interface material in March 2022 under the name "TIM-C." It is a high-performance, low-outgassing substance created to offer outstanding adhesion and superior thermal conductivity in a wide range of temperatures.
• The Sarcon XR family of thermal interface materials (TIMs) was introduced by Fujipoly in April 2021. Compared to standard silicone-based materials, the goods are intended to offer better thermal transfer capabilities.
• Henkel debuted its Loctite GC 10 Thermal Interface Material line in September of 2020. These goods are intended to enhance thermal transfer between an electronic device's component parts and the heatsink or other cooling elements.
• Ceramabond NanoFoil is a new series of thermal interface materials that Indium Corporation introduced in May 2020. Compared to conventional silicone-based TIMs, this product offers greater performance in hostile conditions and at high temperatures.
• Laird Technologies unveiled Novana Thermal Interface Materials in November 2019. (TIMs). These goods offer improved heat transfer capabilities with minimal contact resistance and are intended for use in power electronics devices.
Thermal Interface Materials Market Scope
|Revenue forecast in 2030
|USD 3.2 billion
|CAGR of 6.3 % during 2021-2030
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|The Bergquist Company, Inc., Dow Corning Corporation, Henkel AG & Co. KGaA, Laird PLC, and 3M Company (US) (US). AlphaTherm LLC (US), Indium Corporation (US), Heraeus Holding GmbH (Germany), Cookson Electronics Assembly Materials Ltd. (UK), and Henkel Adhesives Technologies India Pvt. Ltd. are a few of the other major competitors in this sector (India).
Key Segments of theThermal Interface Materials Market
Type Overview, 2021-2031 (USD Billion)
• Thermal Pad
• Thermal Grease
• Thermal Paste
• Thermal Adhesive
• Gap Filler
Application Overview, 2021-2031 (USD Billion)
• Consumer Electronics
• Solar Energy
Regional Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
• Middle East and South Africa