The global thermal interface materials (TIMs) market to grow at a CAGR of 11.30% during the period 2017-2021.
The report, Global Thermal Interface Materials (TIMs) Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is advances in technology. The global TIMs market has witnessed many technological advances, such as gap fillers and metal-based TIMs, in recent years. The vendors in the market are being competitive and exploring new technologies to gain an advantage over each other to retain their market shares. This, in turn, has led to significant technological advances in recent years. Many end-user industries have increased the consumption of modern TIMs for managing thermal conductivity owing to increased efficiency and ease of application. Therefore, the advances in technology and the increased use of TIMs in various applications are expected to propel the market growth during the forecast period.
According to the report, one of the major drivers for this market is advantages of TIM. TIMs are being used as greases and adhesives mainly in manufacturing, defense and aerospace, and wireless networking applications. The use in various applications is attributable to their flowability, reworkability, potential to minimize the surface irregularities and cost-effectiveness. In addition, in medical equipment or devices, such as lasers, ultrasound devices, X-ray machines, and digital imaging equipment, effective thermal management plays an essential role in making the equipment function persistently and accurately within the optimum temperature. This enhances the reliability of the devices, thereby intensifying the demand for TIMs during the forecast period.