Thermal Interface Materials Market Worth $6+ Billion, Globally, by 2028 at 11+% CAGR | The Insight Partners

NEW YORK, Oct. 21, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Thermal Interface Materials Market Size, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type; Application, and Geography", the global thermal interface materials market size is expected to grow from USD 2.9 billion in 2021 to USD 6.5 billion by 2028 at a CAGR of 11.3% between 2022 and 2028.

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Global Thermal Interface Materials Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 150 pages with list of tables & list of figures from the report, "Thermal Interface Materials Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Adhesives & Greases, Tapes & Films, Gap Fillers, and Others), Application (Computers, Automotive Electronics, Industrial Machinery, Telecommunication, Consumer Durables, Medical Devices, and Others), and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/thermal-interface-materials-market

SEMIKRON; Wakefield-Vette, Inc.; DK Thermal (HK) Limited; Indium Corporation; and Momentive Performance Materials Inc. are among the key global thermal interface materials market players profiled during the study. Several other major companies were studied and analyzed during this research study to get a holistic view of the global thermal interface materials market and its ecosystem.

Thermal interface materials are usually placed between two surfaces (heat-producing and heat-dissipating devices) to enhance heat flow. Nowadays, manufacturers focus on producing innovative thermal interface materials to reduce thermal boundary resistance between two conducting surfaces. For instance, in October 2021, Electrolube Limited., a chemical manufacturing company, launched bio-based conformal coating and thermal management innovations at the productronica trade fair, Munich, Germany.

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Thermal interface materials are increasingly used in establishing heat connections between conducting devices. In addition, they are used to maximize the electronic circuits' heat dissipation efficiency. Hence, technological advancements in developing compact-sized printed circuit boards of improved heat efficiency and power performance are expected to drive the global thermal interface materials market growth. Furthermore, governmental support in enhancing electronic manufacturing is expected to increase thermal interface materials demand in many countries globally. Increasing adoption of thermal interface materials in consumer electronic wearables and evolving trend of wearing IoT technology-based digital watches are likely to favor the market growth.

Increasing trend of electrical equipment miniaturization and rising adoption of 5G technology-based digital devices are also some of the major factors offering lucrative global thermal interface materials market growth opportunities. Nowadays, manufacturers develop high sink capability-based thermal interface materials to enable consumer electronic companies to develop power and heat-efficient electronic devices. These efforts are expected to fuel the future demand for these materials. Also, growing materials' usage as heat dissipators in telecommunication circuitry is anticipated to increase the materials' demand globally. 

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The closure of various consumer goods and electronic manufacturing facilities due to the COVID-19-related lockdown restrictions has lowered the thermal interface materials' demand in many countries globally. In addition, the limited availability of workers due to the COVID-19-related social distancing norms hindered the consumer goods and electronic gadgets' manufacturing operations and lowered the thermal interface materials demand. Furthermore, trade restrictions & global supply chain disruptions posed challenges to the key players in supplying thermal interface materials in the global markets, thereby impacting the global thermal interface materials market growth during the pandemic. However, the reopening of electronic stores and supermarkets post-COVID-19 pandemic accelerated the demand for electronic gadgets and thermal interface materials.

From the regional perspective, Asia Pacific dominated the thermal interface materials market in 2021. The dominance of Asia Pacific in the thermal interface materials market is majorly due to the significant demand for thermal interface material-based adhesives, tapes, and gap fillers usage in designing and fabricating electronic circuits in China, Japan, and India. In addition, government support in developing automotive electronics sector which is a major consumer of thermal interface materials in China and India is likely to favor the Asia Pacific region's market growth.

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