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Increasing demand for miniaturization of electronic devices is driving Thermal Interface Materials Market

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Increasing demand for miniaturization of electronic devices is driving Thermal Interface Materials Market

March 04
21:15 2021
Increasing demand for miniaturization of electronic devices is driving Thermal Interface Materials Market

Browse 203 market data Tables and 75 Figures spread through 231 Pages and in-depth TOC on “Thermal Interface Materials Market”
Thermal Interface Materials Market by Chemistry (Silicone, Epoxy, Polyimide), Type (Greases & adhesives, Tapes & Films, Gap Fillers, others), Application (Computers, Telecom, Consumer Durables, Medical Devices, others), and Region

The global thermal interface materials market size is estimated at USD 2.8 billion in 2020 and is projected to reach USD 4.6 billion by 2025, at a CAGR of 10.4%. The thermal interface materials market is witnessing high growth owing to increasing demand for miniaturization of electronic devices, growing LED market, and increasing use of TIMs in end-use industries.

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The increasing demand for miniaturization and automation of electronic devices, such as mobile devices, touch screens & displays, and medical devices is a driving factor for the growth of the TIMs. As electronics become smaller, they heat up easily as the components are more concentrated. This increases heat density over the surface of the electronic equipment. TIMs are needed to increase heat dissipation. The growing demand for these electronic products globally has led to an increase in the consumption of TIMs in the electronics industry.

Thermal management is of very high importance in electric vehicles as these vehicles have large energy storage reservoirs. Apart from electric vehicles, conventional automobiles too incorporate sophisticated electronics. An average sedan sold today has 100% more electronic components compared to a similar model sold 15 years ago. Thus, as vehicles incorporate more electronic and electrical components, the role of TIMs will become increasingly important.

Recent Developments

1. In September 2020, Parker Hannifin Corporation launched THERM-A-GAP GEL 37, new single component, thermally conductive dispensable materials. This new product launch will help the company to strengthen its product portfolio in the TIMs market.

2. In June 2020, Henkel AG & Co. KGaA launched new TIM Bergquist Gap Filler TGF 7000. It is used for various applications, such as automotive ADAS systems, power conversion systems, electric pumps, and others. With this launch, the company strengthens its product portfolio in the TIMs market.

APAC is the largest market for thermal interface materials market due to growing population, growing internet user base, rising per-capita income, rapid industrialization, and development of end-use industries. Major companies in the market are establishing and expanding their manufacturing base in APAC region to meet the growing demand for thermal interface materials. Growing economies such as China, India, and Japan are major markets for TIMs in the region.

Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), Dow Corning Corporation (US), Laird Technologies (US), Momentive Performance Materials  (US), Indim Corporation (US), Wakefield-Vette (US), and Zalma Tech Co. Ltd. (South Korea) are the key players operating in the thermal interface materials textiles market.

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