Thermal Interface Materials Industry worth $5.6 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 12, 2022 /PRNewswire/ -- According to the new market research report "Thermal Interface Materials Market by Chemistry (Silicone, Epoxy, Polyimide), Type (Greases & adhesives, Tapes & Films, Gap Fillers), Application (Computers, Telecom, Consumer Durables, Medical Devices) and Region - Global Forecast to 2027", published by MarketsandMarkets™, the global Thermal Interface Materials Market is projected to reach USD 5.6 billion and is projected to grow at a CAGR of 10.5% between 2022 and 2027. In 2022 the global thermal interface materials market is estimated at USD 3.4 billion in 2022 and is projected to reach USD 5.6 billion by 2027, at a CAGR of 10.5% during the forecast period. The growth if the market is attributed to the growing need of thermal management solutions in ever-shrinking electronic components and systems.
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Silicone is the largest chemistry segment in the thermal interface materials market during the forecast period.
Silicone is most widely used chemistry in thermal interface materials market. Owing to various advantages such as bond to difficult combinations of materials, reliability over a wide temperature range, and low cost, silicone has the largest application space among other chemistry segment.
Greases & adhesives is the largest type segment in the thermal interface materials market during the forecast period.
Greases & adhesives is most widely used type in thermal interface materials market. It is a popular type for thermal management because it spreads out and thins thus decreasing the thermal resistance between heat sorce and heat sink. Its large market size is attributed to its easy implementation and various applications in growing industries such as cloud compute, industrial, and power.
Computers is the largest application segment in the thermal interface materials market during the forecast period.
Computers accounts for largest market share among all applications in thermal interface materials market. This is due to the rapid adoption of computers in various industries such as communication, education, utility facilities, health care, and others coupled with need of durable, long-life, and efficient electronic devices.
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APAC is the largest regional market for thermal interface materials during the forecast period.
APAC accounts for largest market share among all the regions in the thermal interface materials market. Rapid adoption of electronic devices in growing economies and increasing consumer spending in region has played a important role in its large market share. Moreover, growing population, growing internet user base, rising per-capita income, rapid industrialization, and development of end-use industries has contributed to the increasing demand for thermal interface materials in the region.
Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), Dow (US), Laird Technologies Inc. (US), Momentive (US), Indim Corporation (US), Wakefield Thermal Inc. (US), and Zalma Tech Co. Ltd. (South Korea) are the key players operating in the thermal interface materials market.
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