Thermal Interface Materials Market
Albany, NY -- (SBWIRE) -- 01/20/2020 -- The global thermal interface materials market is anticipated to grow at a heathy rate, as reported by Transparency Market Research (TMR). The competitive landscape of the global thermal interface materials market boasts of a highly competitive nature. Market players are involved in continuous research and development activities. This is expected to spur rivalry among existing vendors in the thermal interface materials market in forthcoming years.
Established vendors in the thermal interface materials market are seen focusing on offering an innovative product portfolio in order to retain theirs supremacy in the industry. New entrants trying to enter the market are investing in several organic and inorganic strategies to gain traction in the global thermal interface materials market. Development and launch of new products is a key strategy leveraged by both established and novel vendors in the global thermal interface materials market. Expansions to new, unexplored regions, as well as product portfolio expansion in terms of new industrial applications, are a popular scheme adopted by market vendors.
Leading players operating in the global thermal interface materials market include Parker Chomerics, Henkel AG & Co. KGaA, The 3M Company, Momentive Performance Materials Inc., AOS Thermal, AIM Specialty Materials, Indium Corporation, and Wakefield-Vette, Inc.
According to TMR's analysis, the global thermal interface materials market was estimated to be worth US$ 1,975 Mn in 2017. Rising at a CAGR of 9.0% over the forecast period 2018 to 2026, the global thermal interface materials market is likely to reach US$ 4,210 Mn by end of 2026.
The global market for thermal interface products was dominated in Asia Pacific in 2017. This can be attributed mainly to high demands in the region, mainly in China and India, for such products, particularly computers, electronics and telecommunication. The increased use of thermal-interface components from metals is expected to provide the market for thermal interface products with profitable development possibilities in the next few years. The benefit of superior heat conductivity is metal-based heat interface materials, fueling the growth of this segment.
Miniaturization Trend Promotes Thermal Interface Materials Market
Increasing demand for heat interface products will boost the size of the sector, due to the growing requirement for quicker computing. Producer invests continually in R&D to develop lightweight, effective and extremely conductive materials to increase market share. In addition, medical progress will open up fresh possibilities for development over the coming years. More systems and circuit density thermally neutralized result in big amounts of heat being generated.
Furthermore it is appropriate for use in multiple end-user sectors such as computers, cars and industrial equipment, thanks to its main characteristics such as elevated heat conductivity, no interface leak and minimum space thickness. This, in turn, leads to the development of the market for heat interfaces.
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Modern Automotive Industry to Offer Rich Growth Opportunity
Transport vehicle electrification has been mainly due to advances in fuel cell and battery technologies as well as advances in power train technologies. The electrical and electronic equipment used in these cars is temperature sensitive and can become damaged or significantly degraded if operated above their design boundaries at temperatures. Thus, for these appliances heat flow is essential. This drives demand for automotive heat interface components.
Moreover, the market is expected to be driven by development in the electric vehicle industry. The demand for electric vehicles is anticipated to increase considerably in the near future due to growing environmental concerns and strict vehicle emissions regulations. As a consequence of the extensive utilization of these cars, demand for heat interface components is projected to boost.