Global Thermal Interface Materials Market 2023-2030
Market Outlook
Triton’s research report estimates that the global thermal interface materials market will register growth at a CAGR of 10.17% during the forecast period 2023-2030.
The market’s growth is driven by factors such as the surging need for advanced electronics, the increasing LED industry, and the rising demand for seamless connectivity. Thermal interface materials are essential for facilitating efficient heat transfer in electronic systems, where fans, heat sinks, and other equipment are frequently employed to regulate temperature. In recent years, there has been a notable rise in heat production from individual power devices, integrated circuits, and complete electronic systems. Therefore, the implementation of thermal management solutions is imperative to ensure these electronic systems operate reliably and efficiently while staying within specified temperature limits.
On the contrary, constraints posed by physical properties hamper the overall global thermal interface materials market’s expansion.
REGIONAL OUTLOOK
The thermal interface materials market covers various regions, including Asia-Pacific, North America, and Europe.
Globally, Asia-Pacific is set to witness the fastest growth over the projected phase. This expansion can be primarily attributed to the increased prominence of critical industries like data centers, 5G technology, and advanced driver-assistance systems (ADAS) in various Asian countries. These industries heavily rely on TIMs to efficiently manage heat. Moreover, government initiatives in countries such as India and Thailand are further stimulating demand for TIMs by providing support to sectors that heavily depend on these materials.
Competitive Outlook
The notable companies listed in the thermal interface materials market are Indium Corporation, Aavid Thermalloy LLC, Dow Chemical Company, 3M, Shin-Etsu Chemical Co Ltd, Momentive Performance Materials Inc, Honeywell International Inc, Laird Technologies Inc, Wakefield Thermal Inc, Parker Hannifin Corporation, Henkel AG & Co KGAA, and Timtronics.
3M specializes in the manufacturing and distribution of a diverse range of industrial products and solutions. Its portfolio encompasses advanced materials, display materials and systems, home care, home improvement, stationery and office supplies, personal safety equipment, roofing granules, closure and masking systems, among others. Furthermore, 3M provides a variety of solutions, including medical, oral care, consumer healthcare, food safety, and health information systems. The company operates manufacturing facilities across the Americas, Asia-Pacific, Europe, the Middle East, and Africa, serving a global clientele.