Market by Product Type, Application, and Regional Outlook | Forecast 2023-2030
Thermal interface materials (TIMs)
are essential substances used in electronics and industrial applications to
enhance the transfer of heat between surfaces. They come in various forms, such
as thermal greases, pads, tapes, phase change materials, and liquid metals
suited to specific applications. Moreover, TIMs facilitate the efficient
dissipation of heat generated by electronic components, preventing overheating
and ensuring device reliability.
According to Triton Market Research’s report, the Global Thermal Interface Materials Market is likely to grow with a CAGR of 10.17% over the forecast period 2023-2030. The market was valued at $2642.49 million in 2022 and is expected to reach a revenue of $5717.24 million by 2030.
MARKET PERFORMANCE – DRIVERS,
CHALLENGES, AND OPPORTUNITIES
The
market is driven by several factors, such as the increasing need for advanced
electronics, the growing LED market, advancing electrification in the
automotive sector, and the growing demand for seamless connectivity. The demand for thermal interface materials
(TIM) is driven by their role in effectively dissipating heat from GPUs and
power electronics. TIM allows for smaller package sizes and reduces the need
for larger cooling components. It is essential in power electronics due to
longer lifespans. Additionally, the growing global demand for GPUs, driven by
gaming, AR/VR, and AI development, is increasing the need for TIM. Furthermore,
the automotive sector’s expansion in key markets like China, Brazil, and others
is propelling demand for TIM, driven by increased urbanization and demand for
vehicles.
On
the other hand, determining optimal operational costs for end-users and
physical properties constraining performance have become a barrier to the
market’s growth. Thermally
conductive interface materials use ceramic fillers with superior thermal
conductivity compared to polymer or grease binders. Achieving higher thermal
conductivity requires more expensive fillers, leading to increased costs and
reduced physical properties. Choosing a thermal interface material involves
balancing thermal performance, cost, and specific application needs, but
physical limitations can restrict market growth.
Furthermore, surging commercial adoption of MMC and CMC materials and technological advancements create opportunities for the thermal interface materials market. The increased adoption of MMC and CMC in thermal management across various industries, driven by their strength, lightness, and superior thermal properties, is a notable development in the TIM market. Electronic equipment manufacturers are increasingly considering CMC as a TIM due to its enhanced thermal conductivity, corrosion resistance, and durability, which is expected to continue in the foreseeable future.
KEY GEOGRAPHIES COVERED:
• North America:
United States and Canada
• Europe: The
United Kingdom, Germany, France, Italy, Spain, and Rest of Europe
• Asia-Pacific: China, Japan, India, South Korea, ASEAN Countries, Australia & New Zealand, and Rest of Asia-Pacific
SEGMENTATION ANALYSIS –
THERMAL INTERFACE MATERIALS MARKET:
• Market by Product Type:
o Greases
& Adhesives
o Thermal
Pads
o Tapes
& Films
o Phase
Change Materials
o Metal-Based
Thermal Interface Materials
o Other
Product Types
Phase change
materials are anticipated to progress with the fastest CAGR during the forecast
period.
They are substances that transition between solid and liquid states with
temperature changes, effectively absorbing and dissipating heat when placed
between heat sources and sinks. They have a high heat capacity and excel in
maintaining safe component temperatures. PCMs outperform traditional thermal
interface materials, are reliable, reusable, and ideal for devices with varying
heat loads and limited space.
• Market by Application:
o Automotive
Electronics
o Computers
o Telecom
o Consumer
Durables
o Medical
Devices
o Industrial
Machinery
o Other
Applications
In 2022, the majority of market share was captured by telecom. This sector heavily relies on electronic equipment like base stations, routers, and servers, which generate significant heat due to increasing data traffic driven by internet usage, video streaming, and cloud computing. Effective thermal management is crucial for performance and reliability. Thermal interface materials, such as greases, pads, and phase-change materials, are used to transfer heat efficiently and maintain optimal operating temperatures. With the shift to 5G and preparations for 6G technology, the demand for these materials in the telecom industry is expected to rise.
COMPETITIVE LANDSCAPE:
The competitive landscape helps provide data on key thermal interface
materials industry players. The strategic initiatives of each of the companies
considered are covered in detail.
Product Launch (April 2022):
Shin-Etsu Chemical Co Ltd
Shin-Etsu Chemical Co Ltd developed the TC-BGI Series, a thermal
interface silicone rubber sheet, for applications in electric vehicle
components.
Collaboration (January 2023):
Indium Corporation and ABIC Kemi AB and Lindberg & Lund OY AB
Indium Corporation announced a strategic partnership with ABIC Kemi AB
and Lindberg & Lund OY AB, two prominent materials distributors in Europe.
This collaboration was aimed to enhance customer service and support for the
company’s clients in Sweden, Denmark, and Finland.
KEY BENEFITS OF THE REPORT:
● Triton Market Research has a collective experience of 25-30 years in the industry, with its analysts and experts encompassing the most infallible research methodology for its market intelligence and industry analysis.
● Our research methodology helps in achieving a broader consensus of the market size, shape, and industry trends within each industry segment.
● The strategy adopted in designing the research methodology includes the amalgamation of the information assembled from primary and secondary sources, with the assistance of analytical tools to construct the forecast and predictive models.
● The scope of the market report comprises the current scenario of the global thermal interface materials market, along with the detailed overview of the industry outlook, market dynamics, segmentation analysis, regional outlook, and competitive landscape for the period 2023-2030.
FAQs:
Q
1) Which is the fastest-growing product type in the thermal interface materials
market?
The phase change material is the fastest-growing product type in the
thermal interface materials market.
Q 2) What is the value of the
global thermal interface materials market?
As of 2022, the global thermal interface materials
market was valued at $2642.49 million.
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VIEW REPORT1. GLOBAL
THERMAL INTERFACE MATERIALS MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. IMPACT
ANALYSIS ON THE THERMAL INTERFACE MATERIALS MARKET
2.1.1. COVID-19
IMPACT
2.1.2. UKRAINE-RUSSIA
WAR IMPACT
2.2. PORTER’S
FIVE FORCES ANALYSIS
2.2.1. THREAT
OF NEW ENTRANTS
2.2.2. THREAT
OF SUBSTITUTES
2.2.3. BARGAINING
POWER OF BUYERS
2.2.4. BARGAINING
POWER OF SUPPLIERS
2.2.5. THREAT
OF COMPETITIVE RIVALRY
2.3. MARKET
MATURITY ANALYSIS
2.4. INDUSTRY
COMPONENTS
2.4.1. RAW
MATERIAL SUPPLIERS
2.4.2. MANUFACTURERS
2.4.3. END-USER
2.5. KEY
BUYING IMPACT ANALYSIS
2.5.1. EASE
OF APPLICATION & INSTALLATION
2.5.2. RELIABILITY
2.5.3. PERFORMANCE
2.5.4. TYPE
2.5.5. COMPATIBILITY
2.6. KEY
MARKET STRATEGIES
2.6.1. COLLABORATIONS
2.6.2. PRODUCT
LAUNCHES
2.6.3. ACQUISITIONS
2.7. MARKET
DRIVERS
2.7.1. INCREASING
NEED FOR ADVANCED ELECTRONICS
2.7.2. GROWING
LED MARKET
2.7.3. ADVANCING
ELECTRIFICATION IN THE AUTOMOTIVE SECTOR
2.7.4. DIVERSE
INDUSTRIAL APPLICATIONS
2.7.5. GROWING
DEMAND FOR SEAMLESS CONNECTIVITY
2.8. MARKET
CHALLENGES
2.8.1. DETERMINING
OPTIMAL OPERATIONAL COSTS FOR END-USERS
2.8.2. PHYSICAL
PROPERTIES CONSTRAINING PERFORMANCE
2.9. MARKET
OPPORTUNITIES
2.9.1. INCREASING
COMMERCIAL ADOPTION OF MMC AND CMC MATERIALS
2.9.2. ADVANCEMENTS
IN TECHNOLOGY
2.10. ANALYST PERSPECTIVE
3. GLOBAL
THERMAL INTERFACE MATERIALS MARKET – BY PRODUCT TYPE
3.1. GREASES
& ADHESIVES
3.2. THERMAL
PADS
3.3. TAPES
& FILMS
3.4. PHASE
CHANGE MATERIALS
3.5. METAL-BASED
THERMAL INTERFACE MATERIALS
3.6. OTHER
PRODUCT TYPES
4. GLOBAL
THERMAL INTERFACE MATERIALS MARKET – BY APPLICATION
4.1. AUTOMOTIVE
ELECTRONICS
4.2. COMPUTERS
4.3. TELECOM
4.4. CONSUMER
DURABLES
4.5. MEDICAL
DEVICES
4.6. INDUSTRIAL
MACHINERY
4.7. OTHER
APPLICATIONS
5. GLOBAL
THERMAL INTERFACE MATERIALS INDUSTRY – BY REGIONAL OUTLOOK
5.1. NORTH
AMERICA
5.1.1. MARKET
BY PRODUCT TYPE
5.1.2. MARKET
BY APPLICATION
5.1.3. COUNTRY
ANALYSIS
5.1.3.1. UNITED
STATES
5.1.3.1.1. UNITED
STATES THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.1.3.2. CANADA
5.1.3.2.1. CANADA
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.2. EUROPE
5.2.1. MARKET
BY PRODUCT TYPE
5.2.2. MARKET
BY APPLICATION
5.2.3. COUNTRY
ANALYSIS
5.2.3.1. UNITED
KINGDOM
5.2.3.1.1. UNITED
KINGDOM THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.2.3.2. GERMANY
5.2.3.2.1. GERMANY
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.2.3.3. FRANCE
5.2.3.3.1. FRANCE
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.2.3.4. SPAIN
5.2.3.4.1. SPAIN
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.2.3.5. ITALY
5.2.3.5.1. ITALY
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.2.3.6. REST
OF EUROPE
5.2.3.6.1. REST
OF EUROPE THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.3. ASIA-PACIFIC
5.3.1. MARKET
BY PRODUCT TYPE
5.3.2. MARKET
BY APPLICATION
5.3.3. COUNTRY
ANALYSIS
5.3.3.1. CHINA
5.3.3.1.1. CHINA
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.3.3.2. JAPAN
5.3.3.2.1. JAPAN
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.3.3.3. INDIA
5.3.3.3.1. INDIA
THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.3.3.4. SOUTH
KOREA
5.3.3.4.1. SOUTH
KOREA THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.3.3.5. ASEAN
COUNTRIES
5.3.3.5.1. ASEAN
COUNTRIES THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.3.3.6. AUSTRALIA
& NEW ZEALAND
5.3.3.6.1. AUSTRALIA
& NEW ZEALAND THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
5.3.3.7. REST
OF ASIA-PACIFIC
5.3.3.7.1. REST
OF ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET FORECAST & PROSPECTS
6. COMPETITIVE
LANDSCAPE
6.1. DOW
CHEMICAL COMPANY
6.1.1. OVERVIEW
6.1.2. PRODUCT
PORTFOLIO
6.1.3. KEY
STRENGTHS
6.1.4. KEY
CHALLENGES
6.2. AAVID
THERMALLOY LLC
6.2.1. OVERVIEW
6.2.2. PRODUCT
PORTFOLIO
6.2.3. KEY
STRENGTHS
6.2.4. KEY
CHALLENGES
6.3. 3M
6.3.1. OVERVIEW
6.3.2. PRODUCT
PORTFOLIO
6.3.3. KEY
STRENGTHS
6.3.4. KEY
CHALLENGES
6.4. SHIN-ETSU
CHEMICAL CO LTD
6.4.1. OVERVIEW
6.4.2. PRODUCT
PORTFOLIO
6.4.3. KEY
STRENGTHS
6.4.4. KEY
CHALLENGES
6.5. MOMENTIVE
PERFORMANCE MATERIALS INC
6.5.1. OVERVIEW
6.5.2. PRODUCT
PORTFOLIO
6.5.3. KEY
STRENGTHS
6.5.4. KEY
CHALLENGES
6.6. HONEYWELL
INTERNATIONAL INC
6.6.1. OVERVIEW
6.6.2. PRODUCT
PORTFOLIO
6.6.3. KEY
STRENGTHS
6.6.4. KEY
CHALLENGE
6.7. LAIRD
TECHNOLOGIES INC
6.7.1. OVERVIEW
6.7.2. PRODUCT
PORTFOLIO
6.7.3. KEY
STRENGTHS
6.7.4. KEY
CHALLENGES
6.8. INDIUM
CORPORATION
6.8.1. OVERVIEW
6.8.2. PRODUCT
PORTFOLIO
6.8.3. KEY
STRENGTHS
6.8.4. KEY
CHALLENGES
6.9. WAKEFIELD
THERMAL INC
6.9.1. OVERVIEW
6.9.2. PRODUCT
PORTFOLIO
6.10. PARKER
HANNIFIN CORPORATION
6.10.1. OVERVIEW
6.10.2. PRODUCT
PORTFOLIO
6.10.3. KEY
STRENGTHS
6.10.4. KEY
CHALLENGES
6.11. TIMTRONICS
6.11.1. OVERVIEW
6.11.2. PRODUCT
PORTFOLIO
6.12. HENKEL
AG & CO KGAA
6.12.1. OVERVIEW
6.12.2. PRODUCT
PORTFOLIO
6.12.3. KEY
STRENGTHS
6.12.4. KEY
CHALLENGES
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY REGIONAL OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 2: LIST OF COLLABORATIONS
TABLE 3: LIST OF PRODUCT
LAUNCHES
TABLE 4: LIST OF ACQUISITIONS
TABLE 5: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY PRODUCT TYPE, 2023-2030 (IN $ MILLION)
TABLE 6: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY APPLICATION, 2023-2030 (IN $ MILLION)
TABLE 7: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY REGIONAL OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 8: NORTH AMERICA THERMAL
INTERFACE MATERIALS MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 9: NORTH AMERICA THERMAL
INTERFACE MATERIALS MARKET, BY PRODUCT TYPE, 2023-2030 (IN $ MILLION)
TABLE 10: NORTH AMERICA
THERMAL INTERFACE MATERIALS MARKET, BY APPLICATION, 2023-2030 (IN $ MILLION)
TABLE 11: EUROPE THERMAL
INTERFACE MATERIALS MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 12: EUROPE THERMAL
INTERFACE MATERIALS MARKET, BY PRODUCT TYPE, 2023-2030 (IN $ MILLION)
TABLE 13: EUROPE THERMAL
INTERFACE MATERIALS MARKET, BY APPLICATION, 2023-2030 (IN $ MILLION)
TABLE 14: ASIA-PACIFIC THERMAL
INTERFACE MATERIALS MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 15: ASIA-PACIFIC THERMAL
INTERFACE MATERIALS MARKET, BY PRODUCT TYPE, 2023-2030 (IN $ MILLION)
TABLE 16:
ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY APPLICATION, 2023-2030 (IN
$ MILLION)
FIGURE 1: MARKET MATURITY
ANALYSIS
FIGURE 2: INDUSTRY COMPONENTS
FIGURE 3: KEY BUYING IMPACT
ANALYSIS
FIGURE 4: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY PRODUCT TYPE, 2022 & 2030 (IN %)
FIGURE 5: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY GREASES & ADHESIVES, 2023-2030 (IN $
MILLION)
FIGURE 6: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY THERMAL PADS, 2023-2030 (IN $ MILLION)
FIGURE 7: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY TAPES & FILMS, 2023-2030 (IN $ MILLION)
FIGURE 8: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY PHASE CHANGE MATERIALS, 2023-2030 (IN $ MILLION)
FIGURE 9: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY METAL-BASED THERMAL INTERFACE MATERIALS,
2023-2030 (IN $ MILLION)
FIGURE 10: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY OTHER PRODUCT TYPES, 2023-2030 (IN $ MILLION)
FIGURE 11: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY APPLICATION, 2022 & 2030 (IN %)
FIGURE 12: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY AUTOMOTIVE ELECTRONICS, 2023-2030 (IN $ MILLION)
FIGURE 13: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY COMPUTERS, 2023-2030 (IN $ MILLION)
FIGURE 14: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY TELECOM, 2023-2030 (IN $ MILLION)
FIGURE 15: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY CONSUMER DURABLES, 2023-2030 (IN $ MILLION)
FIGURE 16: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY MEDICAL DEVICES, 2023-2030 (IN $ MILLION)
FIGURE 17: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY INDUSTRIAL MACHINERY, 2023-2030 (IN $ MILLION)
FIGURE 18: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY OTHER APPLICATIONS, 2023-2030 (IN $ MILLION)
FIGURE 19: GLOBAL THERMAL
INTERFACE MATERIALS MARKET, BY REGIONAL OUTLOOK, 2022 & 2030 (IN %)
FIGURE 20: UNITED STATES
THERMAL INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 21: CANADA THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 22: UNITED KINGDOM
THERMAL INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 23: GERMANY THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 24: FRANCE THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 25: SPAIN THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 26: ITALY THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 27: REST OF EUROPE
THERMAL INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 28: CHINA THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 29: JAPAN THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 30: INDIA THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 31: SOUTH KOREA THERMAL
INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 32: ASEAN COUNTRIES
THERMAL INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 33: AUSTRALIA & NEW
ZEALAND THERMAL INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)
FIGURE 34: REST OF
ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET 2023-2030 (IN $ MILLION)