The Global Thermal Interface Materials Market size is valued at USD 3.5 billion in 2023 & is estimated to grow at a CAGR of around 7.8% during the forecast period, i.e., 2024-30.

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Key Findings of the Study: Thermal Interface Materials Market

Global Thermal Interface Materials Market Opportunity: Rising Adoption of Electric Vehicles (EVs) to Open New Doors for Market Growth

The global shift towards electric vehicles has created a significant opportunity for Thermal Interface Materials Industry.  The phenomenon of climate change and global warming has prompted governments and businesses to look for cleaner alternatives to fossil fuels. The responses to such changes gave rise to the popularity of EVs. EVs use lithium-ion batteries as a fuel instead of fossil fuels. These batteries require efficient thermal management to obtain optimal performance, which is where the TIMs come in.

As EV adoption grows, the demand for TIMs will grow parallel to it due to need for the advanced thermal management solutions. These TIMs are a necessary component to ensure that the Lithium-Ion batteries work in the range of safe temperature and not leading to overheating or potential thermal runaways. Moreover, as the investments in making an efficient battery pack increase, giving rise to a consequent innovation in TIMs, bringing in accelerated growth in the Market.

Scope of the Report and Thermal Interface Materials Market Segmentation

By Type

-Adhesives & Greases

-Tapes

-Elastomeric Pads

-Paste & Gel

-Phase Change Materials

-Advanced Materials

-Others

• The adhesives & greases segment holds the largest share of the Global Thermal Interface Materials Market based on segmentation by type and is anticipated to maintain its position during the forecasted period as well.

By Application

-Computers

-Telecom

-Medical Devices

-Consumer Durables

-Automotive Electronics

-Renewable Energy

-Industrial Equipment

-Others (LED lighting, etc.)

Top leading companies in the Thermal Interface Materials Market includes:

DuPont (Laird), 3M, Honeywell International Inc., Momentive Performance Materials, Semikron Danfoss, Henkel Corporation, Parker Hannifin Corp., Wacker Chemie AG, Dow, Wakefield Thermal, Inc., Indium Corporation, Shin-Etsu Chemical Co., Ltd., Panasonic Corporation, Fujipoly, Arctic Silver, Inc., Others

Thermal Interface Materials Market Development

• 2024: Indium Corporation showcases metal thermal interface materials for burn-in and test at TestConX. It is a high-performance metal TIM solution with pure indium metal delivering 86W/mK. This pure Indium can be covered with a thin aluminum layer on the side facing the device under test to prevent indium from adhering to the surface.

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Geographical analysis:

North America: US, Canada, Mexico

Europe: Germany, The UK, France, Russia, Spain, Italy, Rest of Europe

Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific

South America: Brazil, Argentina, Rest of South America

Middle East & Africa: GCC, South Africa, Rest of MEA

• Asia Pacific remains the dominant market for thermal interface materials and the primary reason for this is the region is a manufacturing hub, especially for consumer electronics.

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