Thermal Interface Materials Market Set to Soar Past USD 8.15 Billion by 2030
The global Thermal Interface Materials market size is expected to reach USD 8.15 billion by 2030 and exhibit a CAGR of 10.2% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing demand for electronic devices, growth in the automotive industry, rising adoption of electric vehicles, advancements in microelectronics, growing need for efficient heat management solutions, and the expanding data center industry are fueling the market’s growth.
Westford, USA, Jan. 11, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the Thermal Interface Materials market, increasing focus on nanomaterials, the development of phase change materials, the rise of synthetic graphite as a heat spreader, the use of advanced thermal greases, the growth of the aerospace and defense sector, and the exploration of new applications in emerging industries like renewable energy and medical devices are the trends that aid in the market’s growth.
Browse in-depth TOC on “Thermal Interface Materials Market”
- Pages – 157
- Tables – 98
- Figures – 76
Thermal interface material (TIM) is a substance that is used to improve heat transfer between two surfaces. It is typically used in electronic devices, such as computers and smartphones, to help dissipate heat from the processor and other components. TIM can be made from various materials, including thermal paste, thermal pads, and phase change materials.
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Prominent Players in the Thermal Interface Materials Market
- 3M
- Bergquist
- Dow Corning
- ECCI
- Fujipoly
- Henkel
- Laird Technologies
- Momentive Performance Materials
- Parker Hannifin
- Shin-Etsu Chemical
- Sony
- TDK
- Thermonail
- Wakefield-Vette
Packaged Foods Demand to Grow Substantially in the Forecast Period
Packaged foods dominated the global online market as they are widely used for their long shelf life and convenience. With busy lifestyles and the need for easily accessible food options, packaged foods have a significant market share in the Thermal Interface Materials segment.
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Individual Consumer is the Leading Application Segment
In terms of application, the individual consumer is the leading segment due to the increasing demand for convenience. In addition, Thermal Interface Materials platforms typically offer a vast selection of products, including fresh produce, packaged foods, household essentials, and specialty items. This extensive product variety appeals to consumers with diverse preferences and specific dietary requirements. The availability of a wide range of options encourages consumers to make online purchases.
North America is the leading Market Due to the Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. Consumers in North America have embraced online shopping across various sectors, including groceries. There is a high level of digital literacy and comfort with online transactions among North American consumers. This consumer readiness and willingness to adopt Thermal Interface Materials shopping have contributed to the region’s dominance.
A recent report thoroughly analyzes the major players operating within the Thermal Interface Materials market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for Thermal Interface Materials.
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Key Developments in Thermal Interface Materials Market
- In March 2023, 3M launched a new line of TIMs for the data center market. The new line includes a variety of materials that are designed to improve heat dissipation in data center servers and other equipment.
- In April 2023, Parker Hannifin announced the launch of a new line of TIMs for the industrial market. The new line includes a variety of materials that are designed to improve heat dissipation in a variety of industrial applications.
Key Questions Answered in Thermal Interface Materials Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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