Global Thermoelectric Material Market Growth 2025-2031

The global Thermoelectric Material market size is predicted to grow from US$ 44.4 million in 2025 to US$ 60.8 million in 2031; it is expected to grow at a CAGR of 5.4% from 2025 to 2031.

Thermoelectric materials show the thermoelectric effect in a strong or convenient form.



The thermoelectric effect refers to phenomena by which either a temperature difference creates an electric potential or an electric potential creates a temperature difference. These phenomena are known more specifically as the Seebeck effect (converting temperature to current), Peltier effect (converting current to temperature), and Thomson effect (conductor heating/cooling). While all materials have a nonzero thermoelectric effect, in most materials it is too small to be useful. However, low-cost materials that have a sufficiently strong thermoelectric effect (and other required properties) could be used in applications including power generation and refrigeration. A commonly used thermoelectric material in such applications is bismuth telluride.



Thermoelectric materials are used in thermoelectric systems for cooling or heating in niche applications, and are being studied as a way to regenerate electricity from waste heat.

Global Thermoelectric Material key players include Ferrotec, Laird, KELK, etc. Global top three manufacturers hold a share over 55%.

China is the largest market, with a share over 40%, followed by Japan and North America, both have a share over 35 percent.

In terms of product, Bi-Te is the largest segment, with a share over 85%. And in terms of application, the largest application is Automotive, followed by Electronics, Biomedical, etc.

LP Information, Inc. (LPI) ' newest research report, the “Thermoelectric Material Industry Forecast” looks at past sales and reviews total world Thermoelectric Material sales in 2024, providing a comprehensive analysis by region and market sector of projected Thermoelectric Material sales for 2025 through 2031. With Thermoelectric Material sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Thermoelectric Material industry.

This Insight Report provides a comprehensive analysis of the global Thermoelectric Material landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Thermoelectric Material portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Thermoelectric Material market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Thermoelectric Material and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Thermoelectric Material.

This report presents a comprehensive overview, market shares, and growth opportunities of Thermoelectric Material market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Bi-Te
Pb-Te
Other Materials

Segmentation by Application:
Automotive
Electronics
Biomedical
Other Industry

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Ferrotec
Laird
KELK
Thermonamic Electronics
Marlow
RMT
EVERREDtronics
Crystal
Hi-Z
Tellurex

Key Questions Addressed in this Report

What is the 10-year outlook for the global Thermoelectric Material market?

What factors are driving Thermoelectric Material market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Thermoelectric Material market opportunities vary by end market size?

How does Thermoelectric Material break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.