According to a report by Triton Market Research, the Asia-Pacific thermal interface materials market is expected to elevate at a CAGR of 10.48% over 2023-2030. The report assesses various nations in the region, such as China, Japan, India, South Korea, Australia & New Zealand, ASEAN countries, and Rest of Asia-Pacific.
In addition to the substantial automotive sector, India has also witnessed remarkable growth in the gaming industry, where the utilization of thermal interface materials (TIMs) is particularly notable. TIMs play a vital role in the gaming sector by aiding in the dissipation of heat generated by high-performance components like CPUs and GPUs. Over the past few years, the Indian gaming sector has experienced significant expansion. According to estimates, this sector is to reach around $ 8.6 billion by 2027. This surge is expected to open avenues for the thermal interface materials market.
The electronics industry plays a significant role in the thermal interface materials market in Indonesia. The rising demand for electronic devices like laptops and smartphones has led to an increased need for TIMs in this sector. Similarly, the automotive industry is a notable contributor to the thermal interface materials market within the country. The government has been offering incentives to the electronics and automotive sectors, significantly stimulating the market's development in the country.
Competitive Outlook
The renowned companies in the thermal interface materials market are Dow Chemical Company, 3M, Honeywell International Inc, Laird Technologies Inc, and Indium Corporation.