Thermal Interface Materials Market Research Report - Forecast to 2030

Global Thermal Interface Materials Market Information Report by Type (Greases & Adhesives, Gap Fillers, Elastomeric Pads, Metal Based, Others), By Application (Telecommunications, Computer, Automotive, Industrial Machinery, Others) and By Region - Global Forecast To 2030

ID: MRFR/CnM/2257-HCR | February 2021 | Region: Global | 111 pages

Thermal Interface Materials Market

Thermal Interface Materials Market is projected to be worth USD 4.8 billion by 2030, registering a CAGR of 12% during the forecast period (2021 - 2030).

Segmentation

By Type Greases & Adhesives Gap Fillers Elastomeric Pads Metal Based
By Application Telecommunications Computer Automotive Industrial Machinery

Key Players

  • Henkel corporation
  • Bergquist company
  • Indium corporation
  • Parker chomerics
  • Dow Corning
  • Laird technologies
  • Momentive performance materials Inc
  • Zalman tech corporation limited

Drivers

  • The growing demand for high-speed computing and the development of advanced computing equipment to cater to this need is the major driver for the thermal interface materials market.
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Thermal Interface Materials Market Overview


The Thermal Interface Materials Market is calculated to have a USD of 2.8 billion in 2020. And in the forecasting period, it is expected to reach growth with USD 4.6 billion by 2025 at the CAGR of 10.4%.


The growth of the Thermal Interface Materials Market is because of the getting the huge growth in the miniaturization of the electronic devices, growing the LED market and the increasing the use of the TIMS in the medical devices is also added advantage for the growth of the Thermal Interface Materials Market. The phase change materials are expected to get huge growth in the forecasting period.


COVID Analysis


In 2020, the spread of the pandemic has brought great disaster across the world. Many governments had implemented the lockdown to stop the spread of the pandemic, this had made an economic loss in many countries. The government are also planning to provide the vaccine across the world to safeguard the lives of the people from the pandemic. When compared to other markets the Thermal Interface Materials Market has less loss. The demand for electronic devices and the use of the TIMS in medical devices is one of the main reasons for the demand in the Thermal Interface Materials Market.


Market Dynamics


Crucial Market drivers

The main reason for the growth of the Thermal Interface Materials Market is the demand for electronic devices. Due to the spread of the pandemic, the work from home option was implemented by all the companies. The increase in the use of teleconferencing, remote working technologies shows the development and the growth of the telecom sector.


During the lockdown implementation because of the work from home option, the sale of computers, laptops, video games and smart phones have increased the growth of the Thermal Interface Materials Market Size. Sale of the electronic devices like touch screens and displays, medical devices during the pandemic time has increased the growth of the Thermal Interface Materials Market Size.


The market growth opportunities

In the Thermal Interface Materials Market, the high importance of electric vehicles is driving the market growth. This is because of the demand which created in the recent time in getting the electric vehicles, conventional automobile industry. The TIMS is used in medical devices in recent days. This has helped in curing the patients during the pandemic time.


The market restraints

The main restraints in the growth of the Thermal Interface Materials Market Share are the less availability of the raw materials because of the pandemic spread. As the lockdown has been implemented in many regions across the world. There were unavailability of the raw materials and a shortage of labours. This had caused a hindrance in the growth of the Thermal Interface Materials Market Share.


The rapid industrialization and the increase in urbanisation have increased the demand in the Thermal Interface Materials Market Value. But due to the pandemic, there is a lack of transportation and labour. This also impacted the Thermal Interface Materials Market Growth.


The market challenge

The main reason that challenges the Thermal Interface Materials Market Growth is the number of raw materials. Due to the development in technologies in recent days, the cost of raw materials has been increased. This has been caused because of the demand for raw materials because of the pandemic lockdown. Because of the increase in the cost-effectiveness, the products price is also increased.


Cumulative growth analysis


 The increase in the use of the Thermal Interface Materials Market has brought growth in the market value. But in recent days the growth of thermal interface products is because of the growth in the telecommunication sector in many regions like the Asia Pacific and North America.


Due to the lockdown implementation, people are suggested to work from their house which caused the growth in smartphones, laptops, video games and computers. This has increased the growth of the Thermal Interface Materials Market Revenue.


Value chain analysis


The growth in the Thermal Interface Materials Market has increased because of the demand for electronic devices. During the pandemic, there was in need for the TIMS devices for medical usage. The increase in demand has paved the way for the growth of the Thermal Interface Materials Market Revenue in a positive way. Secondly, the growth of the Thermal Interface Materials Market is because of electronic devices. As the electronic devices are smaller in size they absorb heat easily, so to increase the heat density of the electronic devices the TIMS are needed. These are the main reason for the growth and it is expected that the Thermal Interface Materials Market Revenue will be increased in the future.


Market Segmentation:


 Thermal Interface Materials Market


Market segment overview


By material type



  1. Tapes and films

  2. Elastomeric pads

  3. Greases and adhesives

  4. Phase change materials

  5. Metal-based materials


By application



  1. Telecommunication

  2. Computer

  3. Medical devices

  4. Industrial machinery

  5. Consumer durables

  6. Automotive electronics

  7. Others


By region


North America



  1. US

  2. Canada


Latin America



  1. Mexico

  2. Brazil

  3. Peru

  4. Chile

  5. Others


Western Europe



  1. Germany

  2. UK

  3. France

  4. Spain

  5. Italy

  6. Nordic countries

  7. Belgium

  8. Netherlands

  9. Luxembourg


Eastern Europe



  1. Poland

  2. Russia


Asia Pacific



  1. India

  2. Japan

  3. China

  4. ASEAN

  5. Australia

  6. New Zealand


The Middle East and Africa



  1. GCC

  2. Southern Africa

  3. North Africa


Competitive landscape


The key players are working hard to adopt several techniques to strengthen their position in the market. Due to the demand in the growth of the Thermal Interface Materials Market many key players are expanding their business to various regions. They are also planning to get to introduce the new product and merge some companies to complete the large scale orders to enhance their growth in the market.


On the other hand, the growth of the TIMS in the medical field is getting better. So the key players are concentrating their development in introducing the new technology in the medical devices.


Regional analysis


North America is dominating the Thermal Interface Materials Market. this is because of the growth in the thermal interface in the telecommunication and the information technology industry. This growth in the Thermal Interface Materials Industry in the North American region is because of the countries like the US, Canada and Mexico. Also, people are getting the need for the thermal interface even in their smartphones. So the demand for the thermal interface has been increased in recent days.


The Asia Pacific region is getting rapid growth in the Thermal Interface Materials Industry. The Asia Pacific region is expected to get the growth in the forecast period. This is because of the key player's interest to gain the attention of the people of Asia. The key players are developing and expanding their business to many countries of Asia, they are China, India, Australia, etc. they are also planning to introduce their products in the Asia Pacific region.


Other regions like Europe The Middle East and Africa are calculated and expected to get the growth in the future.


Key players



  1. Henkel corporation

  2. Bergquist company

  3. Indium corporation

  4. Parker chomerics

  5. Dow Corning

  6. Laird technologies

  7. Momentive performance materials Inc

  8. Zalman tech corporation limited


Recent developments


November 2021- Wacker, a well-known chemical firm, is growing the supply of electronic materials to domestic outsourced semiconductor assembly and test (OSAT) companies.

The company will boost the manufacturing capacity of its silicon specialty facility in Jincheon, North Chungcheong Province. The details of this expansion haven’t been revealed yet. Still, it is anticipated that the manufacturing increase will be more than 35,000 tons to meet the escalating demand for electronic materials such as semiconductor heat dissipation materials.

Wacker’s semiconductor thermal interface material (TIM) is broadly utilized as a heat conduction material, which decreases the contact resistance among the metal surface of the semiconductor chip and the heat sink. A property of silicon is enhancing thermal conductivity. It is specifically helpful for thermal management of semiconductor materials and is utilized for power semiconductors after semiconductor coating.

November 2021- DuPont happily announced the launch of its ground-breaking plant worth USD30 million. It will generate a variety of materials to advance applications for electrification and lightweight to support the rising demand for its automotive adhesives.

The latest plant will provide state-of-the-art process capability, capacity and quality. The plant will be capable of serving regional needs. It will have brilliant access to transportation for shipping and logistics advantages and technical support to help ensure a world-class customer experience.

In September 2020 – Parker Hannifin has launched the THERM-A-GAP GEL 37, which this thermally conductive of the dispensable products.


In June 2020- dow corning corporation has launched DOWSIL TC -3065 thermal gel. This is used to absorb the heat from electronic devices.


In June 2020- Henkel AG and corporation. KGaA has introduced the TIM Bergquist Gap Filler TGF 7000, this can be used in various automotive systems like electric pumps, power conversion systems.



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   11% (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application and Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   3M Company (U.S.), Henkel Corporation (U.S.), Bergquist Company (U.S.), Indium Corporation (U.S.), Parker Chomerics (U.S.), Dow Corning (U.S.), Laird Technologies (U.S.), Momentive Performance Materials Inc. (U.S.), and Zalman Tech Co., Ltd. (South Korea) among others.
  Key Market Opportunities   This is in turn, leading to the growth of the thermal interface material market.
  Key Market Drivers   The growing demand for high-speed computing and the development of advanced computing equipment to cater to this need is the major driver for the thermal interface materials market.


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Frequently Asked Questions (FAQ) :

Thermal interface materials are used to link heat sinks to the source of heat generation in various applications. Thermal interface materials have a very high thermal conductivity.

The growing demand for high-speed computing and the development of advanced computing equipment to cater to this need is the major driver for the thermal interface materials market.

The thermal interface materials market is expected to exhibit a strong 11% CAGR over the forecast period from 2020 to 2030.

North America is the major regional market for thermal interface materials. Asia Pacific is also expected to exhibit steady progress over the forecast period.

Leading players in the global thermal interface materials market include Henkel Corporation, 3M, Indium Corporation, Laird Technologies, Dow Corning, and Zalman Tech Co. Ltd.