Thermal Interface Materials Market Size, Share, Trends and Future Growth Predictions till 2028

The global Thermal Interface Materials Market is expected to expand at a significant growth over the next few years. The growth of the market is primarily driven owing to advancement of technology, increasing utilization of internet of things (IoT) and rising demand for sophisticated electronics across various industries. Further, in sync with global trend of sustainability, automotive manufacturers are increasing preference towards electronic vehicle in order to reduce energy consumption and greenhouse gas emissions, which in turn can drive the demand for thermal interface materials.

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The liquid thermal interface materials were originally designed for the automotive industry and the need for use highly automated production lines. These thermal interface materials have been used for over a decade in some of the most demanding electronic products on the market. Because of their success there, the demand for liquid thermal interface materials is rapidly rising in all of the electronic industry, as they assist in reducing the overall cost of manufacturing while increasing the thermal performance of assemblies.

The growth of liquid thermal interface materials solutions, are the advantages a dispensed material has in a highly automated assembly process. Many of these products have been created with efficient-dispensing as a key product characteristic. The cure-in-place versions of liquid thermal interface materials, when put under pressure in the dispensing system, will drop in viscosity and enable the material to be dispensed quickly.  Since these liquid thermal interface materials can be dispensed to fill just about any dimension, they can often displace several different thermal interface materials used within the module. The liquid thermal interface materials can be used in both of these applications, and reduce the overall part count within the module.

Thermal interface materials (TIMs) are described as materials with high thermal conductivity, and act as an interface medium for dissipating heat generated from a heat source to the sink. Thermal interface materials are used in form of a secondary thermal conductive material by substituting the thermally insulating air and voids between the surfaces. The dissipation of heat is crucial in order to maintain longevity and reliability of semiconductor and electronic devices. Hence, thermal interface materials plays a significant role in the electronics industry owing to their efficient heat transferring property. They are widely used for enhancing the heat transfer in electronic components such as, CPU, hard disks, graphic cards, chipsets, LED, microprocessors, IC packaging etc. Several type of materials are used as thermal interface materials. However, among all materials, thermal greases are the most preferred owing to their higher flowability and ability to be used over a wide range of surface roughness. Thermal greases helps maximizing the heat transfer between the interface areas as it removes the air gaps and voids. Further, over past few years metal based thermal interface materials is also gaining traction owing to high thermal conductivity compared to other materials.

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Moreover, with the increasing trend of automation, industries are incorporating more and more electrical and electronic devices, hence thermal management has become more and more important, which is another key factor for the growth in demand of thermal interface materials in the near future. The global thermal interface market is also set to benefit from rapid population growth and increasing urbanization along with increasing disposable income which is driving the growth of consumer electronics. Furthermore, advancement in the medical industry is also expected to support the growth of the global thermal interface materials market. Manufacturers are continuously investing in research and development of lightweight, efficient and higher conductive materials in order to gain traction in the market.

Global thermal interface materials market by region is segmented into North America, Latin America, Eastern Europe, Western Europe, South East Asia & Pacific (SEAPAC), China, Japan and MEA. South East Asia & Pacific is expected to be among the most lucrative region for the growth of thermal interface materials market. Factors such as rising disposable income coupled with rapid economic development and increasing penetration of telecom and electronic devices are expected to have positive influence on the growth of market in the next few years. Countries such as India, Japan, South Korea and Indonesia are expected to witness significant increase in demand for thermal interface materials in the region owing to growth of electronic and telecom industry. China with the leading electronic industry and being the automobile manufacturing hub holds significant share in the global thermal interface materials market and is set to witness significant growth over the forecast period. North America thermal interface materials market is expected to witness steady growth over the forecast period on the account of robust manufacturing base and rapid growth of automotive industry in U.S. Latin America is expected to be relative smaller market for thermal interface materials however, witnessing significant growth rate.

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

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