Thermal Interface Materials Market, By Product (Tapes & Films, Elastomeric Pads, Greases & Adhesives, Phase Change Materials, Metal, Others), By Application (Telecom, Computers, Medical Devices, Industrial Machinery, Consumer Durables, Automotive Electronics, Others), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : May 2023

Code : CMI5695

Pages :122

Formats :

Excel and PDF

Industry : Advanced Materials

Market Challenges And Opportunities

Global Thermal Interface Materials Market Drivers:

Growing demand from computer application to foster market growth

The computer application is anticipated to register the highest growth rate owing to the growing demand for computers and laptops in the industrial sector and in the personal computing sector. Increasing use of these products is likely to accelerate the thermal interface materials market, as it is used for filling gaps between semiconductor packages and heat sink surfaces. The market is expected to grow owing to the rise in adoption of electronics, increased usage of smart devices, and increasing reliance on computers and mobile phones by consumers

Increasing automation in manufacturing sector to propel market growth

The market is driven by the rising usage of robotics and automation in manufacturing sector. Moreover, technological advancements, increased adoption of automated processes, and growth in the industrial machinery, and automotive electronics are also expected to fuel market growth over the over the forecast period.

Global Thermal Interface Materials Market Opportunities:

Growing popularity of polymer compounds and microgels (PCMs) is expected to serve major growth opportunities. A recently developed type of TIM, polymer compounds and microgels (PCMs), are phase-changing material that can change from a solid to a viscous liquid at relatively low temperatures. This allows easier handling and processing of these materials in manual assembly processes while maintaining their conformability and wetting properties when operating at higher temperatures.

Growing application in pharmaceutical sector is expected to present a lucrative market opportunities. TIMs are also used in the manufacturing of pharmaceuticals and medical products, which require high levels of temperature control to ensure optimal product performance. Moreover, they are used in various industries to prevent fires and explosions caused by electrical current.

Global Thermal Interface Materials Market Restraints:

Fluctuating price of oil to hamper market growth

Key raw materials used in the production of thermal interface materials are made by processing and refining natural gas and crude oil. Any single change in oil & gas sector has a direct impact on the supply and cost of the raw materials used for producing TIMs. Hence, volatile price of oil is expected to hinder the market growth.

Challenges associated with the TIM's performance

Some of the disadvantages of thermal interface materials include their brittleness and the need for mechanical attachment hardware to attach them to substrates. This can make them difficult to assemble. Other factors, such as the ability to conform to uneven mating surfaces and the ability to withstand high temperatures are also impacting TIM performance. This factor is expected to restrict their adoption, hence hindering market growth. However, ongoing R &D to develop novel product with improved properties will open new avenue for the market growth.