Thermal Interface Materials Market to Reach USD 9.49 Billion by 2032 | SNS Insider

The demand for Thermal Interface Materials in electronics and EVs is accelerating due to technological advancements and the need for efficient heat management.

AUSTIN, TX, UNITED STATES, February 6, 2025 /EINPresswire.com/ -- The Thermal Interface Materials Market Size was valued at USD 3.71 Billion in 2023 and is expected to reach USD 9.49 Billion by 2032, growing at a CAGR of 11.02% over the forecast period of 2024-2032.  

Thermal Interface Materials (TIM) play a significant role in the thermal management of electronics and electric vehicle components. With an increasing demand, especially in the electric vehicle (EV) domain, the market has expanded because EV batteries require adequate thermal remedies. TIM demand continued to grow, especially in the telecom, consumer electronics, and industrial machinery sectors backed by the global electronics industry and innovations in 5G and AI technologies.

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Key Players:

- 3M (Thermal pads, Thermal adhesives)
- Henkel AG & Co. KGaA (Bergquist gap fillers, Thermal tapes)
- Indium Corporation (Thermal paste, Thermal fluxes)
- Fujipoly (Gap filler pads, Thermal tapes)
- The Dow Chemical Company (Thermal gap filler, Phase change materials)
- Honeywell International Inc. (Thermal insulators, Thermal gap fillers)
- Sibelco (Thermal greases, Phase change materials)
- Momentive Performance Materials Inc. (Thermal pastes, Silicone-based gap fillers)
- Laird Technologies, Inc. (Thermal pads, Thermal gap fillers)
- Parker Hannifin Corp (Thermal gap fillers, Thermal tapes)
- Wakefield-Vette (Thermal pastes, Thermal pads)
- Heraeus Holding GmbH (Thermal tapes, Thermal pads)
- KITAGAWA INDUSTRIES America, Inc. (Silicone-based thermal pads, Thermal heat spreaders)
- Macron (Thermal gels, Phase change materials)
- Thermaltronics (Thermal greases, Adhesive films)
- Nexthermal (Thermal pads, Phase change materials)
- BASF (Thermal pads, Thermal foams)
- Sumitomo Electric (Thermal adhesives, Thermal pads)
- Saint-Gobain (Thermal pads, Heat spreaders)
- T-Global Technology (Thermal gels, Thermal pastes)

Market Segmentation and Sub-Segmentation Included are:

By Material, in 2023, Tapes and Films have accounted for 31.8% market share as it is increasingly being used for the consumer electronics, automotive, and telecom industries.

The flexible and thermally conductive application, which finds suitability in the high-temperature and vibration environment, has proved cost-effective to those industries, where reliable thermal management is desired especially in large-scale production processes or automated manufacturing processes.

By Application, the telecommunications sector captured 26% market share in 2023 on account of expanding global 5G rollout and infrastructure extension.

Thermal Interface Materials demand is increasing because heat dissipation efficiently is needed for telecom devices including base stations and antennas. Because of growing usage of data, thermal interface materials ensure stable and long-lasting performances of telecom equipment in high frequency and high-power applications.

In 2023, the Asia Pacific region had the highest market share of about 41% in terms of thermal interface materials owing to technological advancements and a strong consumer electronics industry.

Major players such as TSMC, Samsung and Huawei had increased demand for TIMs which are needed for heat dissipation in smartphones and semiconductors. Additionally, the expanding 5G ecosystem in China and India also extends the demand for advanced TIM solutions in telecom equipment, affirming the region's leading position in the global market.

North America is anticipated to deliver the fastest growth with a CAGR of around 10% over 2024–2032

The dominance is driven by increasing demand for high-performance computing, electric vehicles, and telecom advancements. In EVs and 5G infrastructures, companies such as Tesla, Qualcomm, and Intel depend on thermal interface materials for sufficient heat management. The presence of major tech companies and burgeoning data centers with edge computing will fuel the regional market, alongside its growing requirement for greater TIM solutions to manage heat generated from processors and telecom equipment.

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Recent Highlights

- October 2023: Parker announced a new Thermal Interface Materials (TIM) range that enables better heat management in electronics, mainly automotive and consumer electronics while improving performance and longevity.
- October 2023: Dow launched its next generation of advanced TIMs for electronics, helping to improve energy efficiency and durability of electronics, as demand rises for improved thermal management in electronic equipment.
- February 2023: Indium Corporation presented with metal-based TIMs at TestConX 2023, garnering enhanced thermal conductivity for burn-in and test for greater dependability in electronics.

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