PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1355684
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1355684
Global Thermal Conductive Polymer Material Market is valued at approximately USD 139.3 million in 2022 and is anticipated to grow with a healthy growth rate of more than 12.8% over the forecast period 2023-2030. Thermal conductive polymer materials, also known as thermally conductive polymers or thermal interface materials (TIMs), are a type of material that exhibits both thermal insulation and thermal conductivity properties. These materials are specifically designed to enhance thermal management and heat dissipation in electronic devices, power modules, and other applications where efficient heat transfer is crucial. The Thermal Conductive Polymer Material Market is expanding because of factors such as the rising demand for lightweight and cost-effective materials, increasing demand for efficient thermal management, and surging applications in emerging industries.
In addition, the increasing demand due to the expanding electric vehicle industry is acting as a catalyzing factor for market growth across the globe. The growing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs) requires effective thermal management solutions to dissipate heat generated by high-power batteries, electric motors, and power electronics. Thermal conductive polymer materials are used to enhance thermal performance and reliability of EV components, thereby supporting the expansion of the electric vehicle market. According to International Energy Agency (IEA), in 2020, the number of electric vehicles sold in the United States was 295,7000 and the number increased significantly and reached 631,000 in 2021. As a result, the rising demand for EVs is anticipated to propel the market growth. Thus, these aforementioned factors are propelling the growth of the Thermal Conductive Polymer Material Market during the estimated period. Moreover, the growing focus on emphasis on energy efficiency and sustainability, as well as the growth of electronic and electrical industries present various lucrative opportunities over the forecast years. However, the lack of thermal properties and processing difficulties due to the moldability and flowability of thermal conductive polymer materials are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Thermal Conductive Polymer Material Market study include: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the high adoption rate of thermally conductive polymers, growing focus on research & development activities, and presence of leading manufacturerssuch as RTP Company, Avient Corporation (PolyOne Corporation), and DuPont. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rapid industrial expansion, growing charging infrastructure, and flourishing growth of the electronics industry are significantly propelling the market demand across the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of tables and figures and dummy in nature, final lists may vary in the final deliverable