According to a new study by Polaris Market Research, the global thermal interface materials market is expected to reach $4.75 billion by 2030.
The market is driven by factors such as increasing adoption of automation solutions, miniaturization of electronic devices, and growing demand for high-speed computing solutions. The greater penetration of smartphones and other mobile devices is accelerating globally and growth in the manufacturing, industrial and telecom sectors would provide growth opportunities over the forecast period.
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The different types of thermal interface materials include tapes and foils, elastomeric pads, greases and adhesives, metal-based interface materials, and others. The fats and adhesives segment accounted for a large market share in 2021. However, due to the increasing applications in automotive, telecom and applications, the demand is expected to increase in the coming years.
Based on application, the industry is segmented into computers, medical equipment, telecommunications, automotive electronics, consumer durables, industrial machinery, and others. The computer segment accounted for a significant portion of revenue in 2021 due to increasing demand for desktops and laptops and growth in online education platforms.
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The automotive segment is expected to witness significant growth during the forecast period owing to greater demand for thermal interface materials for high-voltage systems in electric vehicles.
Asia Pacific is expected to grow at a high CAGR during the forecast period. Increasing industrial growth and urbanization has led to greater demand for consumer devices and supported the growth of the industry. The adoption of electric and hybrid vehicles in Asia-Pacific has increased, leading to an increasing demand for miniaturized and high-performance electronics. The growth in healthcare spending in the region and technological advancements related to medical devices are expected to provide growth opportunities during the forecast period.
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Polaris Market Research has segmented the Management System Certification market report based on Certification, Service, Application, and Region:
Polaris Market Research has segmented the Thermal Interface Materials market report based on Composition, Type, Application, and Region:
Thermal Interface Materials, Compositional Outlook (Sales – $Bn, 2018 – 2030)
Thermal Interface Materials Type Outlook (Revenue – $Bn, 2018 – 2030)
- tapes and films
- Elastomer pads
- Fats & Adhesives
- phase change materials
- Metal based thermal interface materials
Thermal Interface Materials Application Outlook (Revenue – $Bn, 2018 – 2030)
- Medical equipment
- automotive electronics
- Consumer Goods
- industrial machines
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