The global thermal interface materials market size is projected to grow from USD 3.56 billion in 2024 to USD 5.64 billion by 2029, at a CAGR of 9.7% during the forecast period. The major factors driving the growth of the market include the increasing demand from small electronic products whose demand is increasing currently and also due to the growth in the LED market.
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Moreover, the expanded applications of the product are going to help in driving the market growth. The electric vehicles (EVs) which have entered the market recently are expected to gain a huge growth in the future,indirectly contributing to growth of thermal interface materials. Thermal interface materials are used to dissipate heat efficiently in batteries used in the EVs. Nanotechnology is also playing important role in the thermal interface materials industry. With the use of nanoparticles like graphene, the performance of thermal interface materials enhances like flexibility and resistance to degradation over time.
The silicone material type is predicted to be the largest of materials used in making thermal interface materials and other materials include epoxy, polymide. This is because silicone material is easy to use and apply as well. It can easily cover gaps which are unreachable when considering heat-generating unit and the heat sink. This thus ensures efficient heat distribution. When looking at the type of thermal interface materials, greases and adhesives hold the largest share. This is due to its ease of application and its ability to be used through automated dispensing method as well. Other types of thermal interface materials include tapes & films, metal-based TIMs, phase change materials, gap fillers.
The computers & data centers segment of application is the fastest growing segment of thermal interface materials. And this can be attributed to the growth and increase in the demand for electronic devices. In the computers,thermal interface materials are used in CPUs,GPUs, memory modules, gaming PCs and power delivery components. When you consider the regional growth, the Asia Pacific region is predicted to have the largest growth, which is due to the increasing use of electronics by growing economies. Moreover, there has also been encouragement for domestic production of electronics by the government which reduces its overall price, which thus will lead to increased demand.
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The major players in the ammonium sulfate market with a significant global presence are Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), DOW (US), Laird Technologies Inc. (US), Momentive (US), Wakefield Thermal Inc. (US), Indium Corporation (US), and Zalma Tech Co. Ltd. (South Korea). These players not only have a comprehensive and diverse product portfolio but also have a strong geographic presence. These players can focus on developing innovative offerings owing to the emergence of new application areas for ammonium sulfate. These companies offer several product offerings and have operations worldwide. These companies focus on product launches, collaborations, acquisitions, contracts, and partnerships to strengthen their footprint through product innovations and extend their business reach.
