Market Research Report
Thermal Interface Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||952915|
|Published||Content info||124 Pages
Delivery time: 2-3 business days
|Thermal Interface Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: July 18, 2020||Content info: 124 Pages||
The global thermal interface materials market grew at a CAGR of around 12% during 2014-2019. Thermal interface materials (TIMs) refer to various products that are used for facilitating dissipation and transfer of heat in electronic devices. They act as an insertion material between two mechanically mated surfaces, such as the heat-generating chip and the dissipating device. Some of the common types of TIMs include gap filler pads, graphite films, adhesives and greases, phase-change materials, thermally conductive fabrics and rubber, and green heat-conducting sponges. They disperse the heat and bring the electronic device to the ambient temperature to ensure optimal functioning. Owing to this, they find application in the manufacturing of semiconductor packaging, communication and consumer devices, power electronics and automobile components.
Rapid industrialization, especially in the emerging economies, along with a significant increase in the demand for consumer electronics across the globe, is one of the key factors driving the growth of the market. In line with this, owing to the ongoing trend of sustainability, automotive manufacturers are incorporating TIMs in music systems and interior automation components to minimize greenhouse gas (GHG) emissions and energy consumption. Furthermore, widespread product adoption in the electronics industry is also providing a boost to the market growth. TMIs are increasingly utilized to manufacture compact, portable, energy-efficient and durable light-emitting diode (LED) lights that are used for both residential and industrial sectors. Additionally, various technological advancements and product innovations, such as the development of nanodiamonds and the integration of electronic devices with the Internet of Things (IoT), is creating a positive impact on the market growth. Other factors, including the growing demand for miniaturized devices and the utilization of multi-functional TMIs, are projected to drive the market further. Looking forward, IMARC Group expects the global thermal interface materials market to continue its strong growth during the next five years.