Global Thermal Interface Materials Market Forecast to 2030
The global Thermal Interface Material (TIM) market size is expected to reach USD 7.34 Billion in 2030 and register a revenue CAGR of 10.0% over the forecast period, according to the latest analysis by Emergen Research. Thermal interface material market revenue growth is primarily driven by factors such as rapid industrialization in developing countries and significantly high demand for consumer electronics globally. Also, increasing applications of TIM in industrial machinery are driving revenue growth in the market. Application of TIM in machinery helps to maintain low temperatures of components by reducing heat transfer. This can be achieved through improved insulation or by using materials with high specific resistance properties.
The comprehensive and significant market research study on Thermal Interface Material offers business strategies, qualitative and quantitative analyses, and emerging trends. The report provides an in-depth examination and analysis of the key elements of the global Thermal Interface Material Market. By conducting extensive primary and secondary research and analyzing the drivers, constraints, challenges, trends, and opportunities of the Thermal Interface Material Market, the research analysts created this report.
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Competitive Terrain:
The global Thermal Interface Materials industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
The leading market contenders listed in the report are:
Parker Hannifin Corporation, Indium Corporation, Dow Inc., 3M Company, Wakefield Thermal, Inc., DuPont De Nemours, Inc, Henkel AG Co. KGaA, Fujipoly, Momentive, and Honeywell International Inc
Research Report on the Thermal Interface Materials Market Addresses the Following Key Questions:
Who are the dominant players of the Thermal Interface Materials market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Thermal Interface Materials market?
What are the key growth drivers and restraining factors of the Thermal Interface Materials market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Thermal Interface Materials market and its key segments?
Market Overview:
The report bifurcates the Thermal Interface Materials market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
Product Type Outlook (Revenue, USD Billion; 2018–2030)
Greases Adhesives
Tapes Films
Gap Fillers
Phase Change Materials
Metal-Based Thermal Interface Materials
Others
Material Outlook (Revenue, USD Billion; 2018–2030)
Epoxy
Polyimide
Others
Application Outlook (Revenue, USD Billion; 2018–2030)
Computers
Telecom
Consumer Durables
Automotive Electronics
Medical Devices
Industrial Machinery
Others
Regional Landscape section of the Thermal Interface Materials report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
The various regions analyzed in the report include:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Some Key Highlights From the Report
On 20 January 2022, 3M expanded its operations in Clinton, Tenn to create new jobs. The organization plans to invest approximately USD 470 million and add around 600 new jobs by 2025.
By product type, the phase change materials segment accounted for a significantly robust revenue share in 2021. Phase change materials maintain a consistent temperature at their melting point while undergoing solid to liquid transition, enabling material to offer exceptional temperature control between surfaces. Phase change materials find usage in construction as demand for cooler and environment-friendly buildings is growing. TIM acts as heat storage where heat is absorbed in summers and used in winter to manage temperature differences. In addition, with a rise in demand and supply energy gap owing to rapid urbanization and depletion of fossil fuel resources, there is a need for development of technologies with renewable energy sources. For instance, on 18 June 2020, Sumitomo Chemical Co., Ltd. developed a new resin heat storage material, HEATORAGE. This product is designed to absorb and release latent heat at a specific temperature range.
By application, the telecom segment revenue is expected to register a rapid revenue growth rate during the forecast period owing to rapid traction of a cashless and digital economy, which is resulting in increasing data volumes and traffic on servers, leading to heating of components. In a traditional base station, TIM is used in baseband as well as remote radio head unit. 5G stations are being rolled out in several places, which are providing future opportunities for advancements in thermal interface materials. In addition, telecom companies in various regions are focusing on accelerating digital transformation of governmental organizations and private sectors. On 8 October 2021 for instance, Oracle, TIM (Telecom Italia), and Noovle, TIM Group's cloud company collaborated to offer multi-cloud services for enterprises and public sector organizations in Italy. This collaboration is also aimed at boosting digital innovation, thereby digitizing business and public administration, for which Oracle Fusion Cloud Enterprise Resource Planning (ERP) was selected to optimize the finance and supply chain process, aiding in new revenue growth in Italy.
Europe market is expected to register a rapid revenue growth rate during the forecast period. This can be attributed to technological developments followed by product innovations that have led to a rise in consumption of thermal interface materials in this region. Major contributors to Europe revenue share are Germany, France, Italy, the UK, and Spain. On 6 June 2021, Telecom Italia launched first ‘5G Cloud network’ in Italy. This solution was launched by Noovle’s in collaboration with Google Cloud and Ericsson. Also, on 20 September 2021, Henkel launched Bergquist Gap Filler TGF 3000SF in Germany. The product has excellent dielectric strength that is ideal for high voltage applications.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Thermal Interface Materials market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key Points of the Geographical Analysis:
Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets
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