According to a new report Global Thermal Interface Materials Market, published by KBV research, The Global Thermal Interface Materials Market size is expected to reach $5.5 billion by 2028 rising at a market growth of 11.4% CAGR during the forecast period.
Thermal greases and adhesives ruled the market with a dominant market share. This dominance can be associated with the increase in usage of consumer products and high thermal resistance. The elastomeric pads are likely to have a significant market share for thermal interface materials as it is easier to assembly than greases.
Elastomeric pads will show significant growth in the expected period due to its easy handling and installation systems that is used for thermal conductivity in electrical and electronic components. However, it is expected that in estimated time frame, growth may be hampered by its limited scope of application and high unit costs of the products.
The product utilization in the telecom application segment is predicted to witness substantial demand in the projected time due to the increase in preference for a cashless and digital economy. Other applications of the thermal interface materials are in manufacturing of medical devices, industrial machinery, automotive electronics and consumer durables. With the advancement in cockpit functionality, the thermal interface materials also started to get installed in aerospace components.
Asia Pacific dominated the market with the highest growth rate. The rapid growth of this segment can be associated with the high demand for thermal interface materials in the region. This is owing to presence of large base of manufacturing zone in the region. Despite of the fact that Europe is one of the major markets for the manufacturing of automotive industry and medical devices, the product is set to gradually decrease its revenue gained. Additionally, The North America market is expected to witness a CAGR of 10.7% during (2022 - 2028).
Structural Insights: https://www.kbvresearch.com/thermal-interface-materials-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 3M Company, Honeywell International, Inc., Parker-Hannifin Corporation, Henkel AG & Company, KGaA, Shin-Etsu Chemical Co., Ltd., Indium Corporation, Fuji Polymer Industries Co., Ltd., Momentive Performance, Materials, Inc., Semikron International GmbH, and AIM Specialty Materials.
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