ALBANY, New York, August 2, 2018 /PRNewswire/ --
The global thermal interface materials market was valued at US$ 1,975 Mn in 2017 and is anticipated to expand at a CAGR of 9.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled 'Thermal Interface Materials Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026.' Thermal interface materials are used as fillers between two parts or components in order to increase thermal conductance between the contact points of those components. These materials help improve the overall thermal efficiency of the system by eliminating gaps formed during the contact of the uneven and rough machined surfaces of joined components. These air gaps are poor conductors of heat. Elimination of gaps enables the heat flow to improve between the contact surfaces. Thus, electronic assemblers use these materials during the joining process, especially in applications where heat movement is important for proper functioning of the overall system.
Request a Sample of Thermal Interface Materials Market: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=7433
Increase in Electrification and Rise in Sales of Transportation Vehicles Projected to Boost Thermal Interface Materials Market
Rise in electrification of transportation vehicles and increase in demand for these vehicles across the globe are likely to propel the thermal interface materials market. Electrification of transport vehicles is primarily the result of technological advancements in fuel cell and battery areas along with advancements in power train systems. Electric and electronic devices used in these vehicles are sensitive to temperature and can get damaged or severely degraded if operated at temperatures above their design limits. Therefore, heat flow is vital for these devices. This is driving the demand for thermal interface materials. Significant expansion in the electronics industry in developing countries is also anticipated to augment the market in the near future. Improvement in standard of living, increase in disposable income, favorable duty structures, and ongoing government projects and schemes in developing countries are estimated to propel the demand for electronic goods in these countries.
View in-depth table of contents for this report @ https://www.transparencymarketresearch.com/report-toc/7433
Increase in demand for smartphones, especially in developing countries, owing to the decline in prices of smartphones, evolving technology, and decreasing voice and data tariffs in these countries is also anticipated to boost the demand for thermal interface materials in the near future. Furthermore, growth in the electric vehicles industry is projected to drive the market. Demand for electric vehicles is expected to rise significantly in the near future owing to the growth in environmental concerns and implementation of stringent regulations regarding vehicle emissions. As a result, demand for thermal interface materials is also anticipated to increase due to their large-scale usage in such vehicles. However, increase in concerns about plastic waste and fluctuation in prices of raw materials are estimated to restrain the market. Polymer-based thermal interface materials are non-degradable and cause pollution in the form of plastic waste; therefore, demand for polymer-based thermal interface materials is projected to be low due to the implementation of stringent environmental regulations.
Metal-based thermal interface materials are likely to provide new opportunities to the thermal interface materials market due to their superior thermal conductivity vis-à-vis polymer-based thermal interface materials. Indium is a key metal that is gaining popularity as a thermal interface material primarily due to its thermal conductivity and ductility properties.
Request for Multiple Chapters on Global Thermal Interface Materials Market: https://www.transparencymarketresearch.com/sample/sample.php?flag=MC&rep_id=7433
Adhesives & Greases Material Segment Expected to Lead Global Thermal Interface Materials Market
The thermal interface materials market can be segmented based on material and application. In terms of material, the market can be classified into adhesives & greases, thermal tapes & films, gap fillers, thermal phase change materials, metal-based thermal interface materials, and others. In terms of value, adhesives & greases was the dominant segment, accounting for more than 30% share in 2017. It is anticipated to continue its dominance during the forecast period. However, the thermal phase-change materials segment is estimated to expand at a rapid pace during the forecast period.
Growth in Transportation and Electric Vehicles to Boost Automotive Electronics Application Segment
Based on application, the thermal interface materials market can be divided into computers, automotive electronics, industrial machinery, telecommunications, consumer durables, medical devices, and others. The computers segment dominated the global thermal interface materials market with more than 27.0% share in 2017. This trend is projected to continue during the forecast period. However, the automotive electronics application segment is estimated to expand at a significant pace in the near future, primarily due to the increase in demand for thermal interface materials in the automotive industry, especially in Asia Pacific.
Ask for Discount on Premium Research Report (US$ 5795) With Complete TOC: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=7433
Rise in Demand from Computers, Automotive Electronics, and Telecommunication Application Segments in Asia Pacific Projected to Drive Market
In terms of region, the global thermal interface materials market can be divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific held the leading share of more than 30.0% of the global thermal interface materials market in 2017. This can be ascribed to the dominance of China, which is the major market for electronics and electrical devices. The country is also the leader in the electric vehicles industry. The thermal interface materials market in Asia Pacific is likely to expand at a significant pace during the forecast period, primarily due to the presence of developing economies such as China and India in the region, wherein sectors such as computers, automotive electronics, and telecommunication are booming.
Leading Manufacturers Dominate Market
Key players operating in the global expanded graphite market are SEMIKRON, Wakefield-Vette, Inc., DK THERMAL METAL CIRCUIT TECHNOLOGY LTD, Indium Corporation, Momentive Performance Materials, Parker Hannifin Corp, Honeywell International Inc., 3M, Henkel AG & Company KGaA, Laird Technologies, and Dow Corning.
Global Thermal Interface Materials Market, by Material
- Adhesives & Greases
- Thermal Tapes & Films
- Gap Fillers
- Thermal Phase Change Materials
- Metal-based Thermal Interface Materials
Global Thermal Interface Materials Market, by Application
- Automotive Electronics
- Industrial Machinery
- Consumer Durables
- Medical Device
Browse Popular Research Reports by TMR:
- Specialty Resins Market: https://www.transparencymarketresearch.com/specialty-resins-market.html
- Electronic Grade Hydrofluoric Acid Market: https://www.transparencymarketresearch.com/electronic-grade-hydrofluoric-acid-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Mr. Rohit Bhisey
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
SOURCE Transparency Market Research