Growing demand for various types of electronic devices worldwide is a key factor expected to drive global market growth during the forecast period

PUNE, MAHARASHTRA, INDIA, May 1, 2023 /EINPresswire.com/ -- The global thermal interface materials market report offers a comprehensive overview of the thermal interface materials industry to help users and investors gain basic insights of the market so they can make investment plans accordingly. The market report offers details about current and upcoming market trends, recent developments and market segmentation based on type, application and regions.

Key factors such as rapid advancements in thermal interface materials, increasing growth in LED market, and rising demand for compact electric devices are expected to boost overall market growth between 2023 and 2028. The global thermal interface materials market is expected to reach USD 1238.10 million in 2028 register a steady revenue CAGR of 5.40% during the forecast period.

Thermal interface materials (TIMs) are substances that are commonly used across various sectors such as electronics, telecommunications, automotive, aerospace, and healthcare to improve heat transfer between two surfaces. These are usually sandwiched between the heat-dissipating device and heat-generating chip. TIMs are used in several electronic devices such as computers, smartphones, laptops, medical devices, and wearable devices to prevent overheating of the components that can cause damage or reduce their lifespans. These materials have high thermal conductivity, low thermal resistance, greater flexibility, low modulus of elasticity, high electrical insulations, chemical stability, and low outgassing.

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Factors such as rapidly expanding consumer electronics sector, increasing preference for automation in electronic medical devices, rising demand for electric vehicles and renewable energy technologies, and increasing investments in developing advanced thermal interface materials and techniques are expected to drive global market growth going ahead.

However, high cost of thermal interface materials limited lifespan, complex applications, issues related to compatibility and thermal resistance, and low adoption of TIMs due to limited budget scenarios across many end-users are expected to hamper overall market growth during the forecast period.

Phase Change Materials Segment to Register Rapid Revenue CAGR:

The phase change materials segment is expected to register rapid revenue CAGR over the forecast period. This can be due to high usage of Phase Change Materials (PCMs) in electronic devices, automotive, and medical devices due to its ability to absorb and release heat during the phase change process, and high preference for PCMs across various end users for better thermal performance, reduced hotspots, and increased device reliability.

North America to Lead in Terms of Revenue Share:

North America is expected to lead in terms of revenue share during the forecast period owing to increasing demand for various electronic devices across the region, growing preference for miniaturized electronics, rising adoption of electric vehicles, and high focus on renewable energy. In addition, presence of several key players in the region, increasing demand for thermal interface materials across various sectors to improve thermal management of high-performance systems, and rising investments in R&D activities are expected to drive North America market growth during the forecast period.

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Thermal Interface Materials Market by Company:

Dow
Panasonic
Parker Hannifin
Shin-Etsu Chemical
Laird
Henkel
Fujipoly
DuPont
Aavid (Boyd Corporation)
3M
Wacker
H.B Fuller Company
Denke Company Limited
Dexerials Corporation
Tanyuan Technology
Jones Tech PLC
Shenzhen FRD Science and Technology

Thermal Interface Materials Industry Recent Developments:

In October 2021, Dupont announced its plan to supply its BETATECH thermal interface material to Renault and Alpine F1 to cater to rising problems of overheating in higher-density-batteries in both charging and operations.
In January 2021, Shin-Etsu Chemical announced the launch of silicone thermal interface materials that can be used in electric vehicles and hybrid electric vehicles.

The global thermal interface materials market has been segmented based on type, application, and region:

Thermal Interface Materials Market Segment by Type:

Silicone Gasket
Graphite Pad
Thermal Conductive Paste
Thermal Conductive Adhesive Tape
Thermal Conductive Film
Phase Change Materials
Others

Thermal Interface Materials Market Segment by Application:

LED Industry
Computer Industry
Energy Industry
Telecommunications Industry
Others

Thermal Interface Materials Market Segment by Region:

North America (USA, Canada, Mexico)
Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
Asia Pacific (China, Japan, South Korea, India, Australia, Rest of Asia Pacific)
South America (Brazil, Argentina, Columbia, Rest of South America)
The Middle East & Africa (Turkey, Saudi Arabia, U.A.E, Nigeria, South Africa, Rest of MEA)

Key Questions Addressed:

What revenue CAGR is the global market expected to register during the forecast period?
Which key players are leading in the global thermal interface materials market?
What is the expected market size of the global thermal interface materials market between 2023 and 2028?
What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
What are some of the key challenges that the global market is expected to face during the forecast period?
Which region is expected to account for largest revenue share over the forecast period?

Key Reasons to Purchase:

Estimates 2023 to 2028 thermal interface materials market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the thermal interface materials market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global thermal interface materials market

You can Purchase the Complete Report here: https://www.xcellentinsights.com/checkout/504148

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