Acumen Research and Consulting, Recently Published Report On “Thermal Interface Materials Market Size, Share, Growth Opportunities and Forecast 2019 - 2026”
LOS ANGELES, Jan. 08, 2020 (GLOBE NEWSWIRE) -- The global thermal interface materials market is expected to grow at a CAGR of around 10.5% during the forecast period 2019 to 2026 and reach the market value of around US$ 3.3 billion by 2026.
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Asia-Pacific dominated the global thermal interface materials market in the year 2018. The region has experienced the potential growth owing to the presence of thermal interface materials companies such as Zalman Tech Co., Ltd., 3M Company and Momentive Performance Materials Inc. among others. The presence of a large customer base and rising foreign direct investment in manufacturing sector is additionally accelerating the regional market growth. Moreover, technological advancement and increase in the number of applications, alternative to synthetic chemicals, rising per capita income, increase in mobile and electronic devices production in China, India, and Japan and growing end user industries such as computers, medical devices, and automotive electronics are expected to enhance the market size. This also expected to open investment opportunities in the global market for the manufacturers in the coming years. The North America region is expected to exhibit a second-largest share in the thermal interface materials market. The increasing number of clinics and hospitals in the region rise the demand for medical devices is expected to contribute to market growth. Additionally, growing demand for thermal interface materials in various end user applications, increase demand for production and consumption of mobile and electronic devices in this region further expected to further propel the growth of the market. The US has a large research and development hub which increases the innovation and development in thermal interface materials and the growing production of medical devices, and the growing manufacturing base of the computer and electronic devices propels market growth. Furthermore, growing demand from electronic device manufacturers, medical device producers, industrial machinery manufacturers, pharmaceutical companies, automotive electronics producers further grows the demand for thermal interface materials in the region over the forecast period.
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Europe is expected to register the highest CAGR during the forecast period. The growing electronic device industry, high research and development from thermal interface materials manufacturers, several government initiatives to enhance the production of electronic devices, and growth in production of pharmaceutical products and medical devices further expected to boosts the demand for thermal interface materials in the region during the forecast period. Moreover, the growth of packaging, printing & coating, the medical manufacturing industry in key countries such as Germany and the UK are also propelling the growth of thermal interface materials in the Europe region.
The medical device segment expected to grow at the fastest rate of 9.4% CAGR during the forecast period. Based on application, the global thermal interface materials market has been segmented into telecom, computers, medical devices, industrial machinery, consumer durables, automotive electronics, others. The growing innovation and development in the healthcare industry, integration of complex thermal conductors in medical devices, growing number of hospitals and clinics across the globe these factors are further expected to raise the segment over the forecast period.
Greases & adhesives segment dominated the thermal interface materials market on the basis of type in the year 2018. The greases & adhesives segment accounts of the largest share in the market and held for more than 35% of the total market in 2018. The major factors that are driving the growth of this segment are the rising demand of greases & adhesives from automobile and consumer electronics industry, low thermal resistance, effective, low cost, and ability to form ultra-thin bond lines. This expected to enhance the dominance of the greases & adhesives segment in the global market over the forecast period. The manufacturers 3M Company, Parker Hannifin Corporation, and Laird Technologies, Inc. are mainly investing in the development of greases & adhesives for the telecom, computers, medical devices, which is expected to lead the market in the coming years.
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Some of the leading competitors are 3M Company, Parker Hannifin Corporation, and Laird Technologies, Inc., Momentive Performance Materials Inc., The Bergquist Company, Inc., Indium Corporation, Wakefield-Vette, Inc., and Zalman Tech Co., Ltd, Henkel AG & Co. KGAA, DOW Corning Corporation.
Some of the key observations regarding thermal interface materials industry include:
- In March 2019, Indium Corporation launched new solid/liquid thermal interface material. This new product offer ultra reliable thermal conductivity for heat dissipation. The new product has wetting ability to both metallic and non-metallic surfaces.
- In August 2017, Wakefield-Vette, Inc. launched new thermal interface material for LED applications. This new material has thermally conductivity which are applied to increase thermal conductance across jointed solid surfaces, such as between the PCB and heat sink, in order to increase thermal transfer efficiency.
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