Global Thermal Interface Materials Market Analysis 2022
The Global Thermal Interface Materials Market is expected to reach $7.02 billion by 2028 growing at a CAGR of 12.5% from 2021 to 2028. Thermal interface material is an essential part of the thermal management system used between the two-component interfaces to improve the thermal coupling between these devices. These materials are employed to enhance the heat transfer in order to keep the device properly functioning.
Factors such as growing demand for automated electronics and increasing demand for miniaturization of electronic devices are driving the growth of the market. However, physical properties limiting the performance of thermal interface material are restraining the growth of the market.
Based on application, the medical and healthcare segment is going to have a lucrative growth during the forecast period as electronic devices used in the medical industry need proper thermal management. Electronics must remain cold to run continuously and efficiently within their operating temperature range.
The key vendors mentioned are Zircar Refractory Composites, Inc., The Dow Chemical Company, Henkel, SIBELCO, Parker Chomerics, Laird Technologies, Indium Corporation, Honeywell International Inc., GrafTech, The 3M Company, Fujipoly, Boyd Corporation and Shin-Etsu.
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