According to the new market research report by IndustryARC titled “Thermal Interface Materials Market: By Type (Greases & adhesives, Tapes & Films, Gap Fillers, Metal-Based TIMs, Phase Change Materials, and others); By Application (Industrial and Energy, Consumer Electronics, Medical Devices, Automotive and power electronics, Computers, Telecom, Aerospace and defense electronics and others Medical Devices, Others) & By Geography Forecast (2018-2023)”, the market is driven by the ongoing trend for product miniaturization, coupled with higher powered electronic devices.

Browse 53 Market Tables, 176 Figures spread through 142 slides and an in-depth TOC on “Thermal Interface Materials Market (2018 - 2023)

APAC held the largest market share and growth rate in the Thermal Interface Materials Market
The factor that led to this growth is the rapid industrialization and humongous amount of manufacturing in this region. The key applications in this region include Medical Devices, Telecommunications, and Computers among others.

Selected Value Chain Analysis done in the full report
  1. Value chain analysis is a useful tool to analyze the activities that include design, production, marketing and distribution of a particular product. TIM’s market is complex, and a key part of the electronics industry. In addition, it’s a changing business and one that adds significantly more than electronics packages and components to the value chain. It is also a business, which is well positioned to add even greater value in the future. The major steps involved in contributing to the total value chain of TIM market are described below:
  • The Value chain of TIM analyzes the major steps involved in manufacturing raw materials, thermally conductive materials in this case, and then adding these materials to electronic devices in order to produce thermally conductive electronic devices. Increasing raw material prices have been a concern of the industry for the past few years. Therefore, several companies have had to emphasize on the supply chain issues concerning raw material prices and manage their formulation or performance criteria carefully.
  • Most of the manufacturers in the market have their own in-house facilities used to convert raw materials into end products. This forms the main reason why many of the manufacturers in the market place have their own units for production of TIMs.
  • Value chain for TIMs has been established as an interdependent and complex network, comprising of raw material providers, environmental agencies, distributors, end users and electronic device manufacturers.
  • Growing demand from computers and automotive electronics segment has triggered the need for extended role of OEMs in the supply networks. Defining and implementing the R&D pipeline according to the market trends and future applications, along with establishing value chain frameworks accordingly, has made the industry more agile.

Excerpts on Market Growth Factors

  • Growing innovation in technology such as use of carbon nanotubes as TIM is a vital factor for the growth of this market.
  • Greater efficiency in green energy development is yet another factor fueling the growth of TIM.
  • New mild hybrid vehicles are forecasted to acquire EV modes of operation within next five years which will escalate the use of TIM.
  • Many driving factors such as rapid industrialization in emerging markets such as China, India, Russia, and South Korea due to increasing population, lower energy consumption, coupled with up-gradation to new technology in key sectors like electronics, energy, automotive and more has attributed to the growth in thermal interface materials market.
  • The increasing internet penetration rate demands a higher bandwidth for offering uninterrupted service to the users. This is driving the growth in TIM market. TIM is an essential component of the electronics as well as telecommunication industry.
  • Demand for smart electronic devices continues to rise as connectivity has become the most prominent aspect in everything, right from vehicles to microwaves. This escalating electronics demand is all set to drive the TIM market owing to its extensive use in the industry.
  • In recent past, smartphone revolution has triggered huge growth in the TIMs market owing to its importance in the smartphone application for thermal management purposes
  • The market for TIM in telecommunications is set to see an upsurge due to the growing advancements in the concerned industry. The market revenue is poised to reach $436.16 million till 2021, growing at a CAGR of 8.1% during the forecast period.

Key players of Thermal Interface Material Market:

  • Parker Hannifin Corporation, Henkel, Honeywell International Inc. 3M, DoW Corning, are the key players in Thermal Interface Material Market.
  • Henkel company have developed some unique and user- friendly products to address thermal transfer priorities of electronic products.
  • Henkel is the leading supplier in the Thermal Interface Materials Market contributing to nearly 28% of the overall revenue. This is followed by Parker Hannifin Corporation holding 10% share. Henkel, through its broad range of products, constant product launches and innovation have been successful in catering to a variety of customers and consequently maintaining their hold over the market.
  • Henkel has been successful in catering to Electronics and manufacturing needs, but their stronghold in the IT and telecom sector is the primary reason as to which they are amongst the leading suppliers. Monitoring their future business involvements, IndustryARC analysts expect Henkel to maintain its position in the market.
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