According to Stratistics MRC, the Global Thermal Interface Materials market accounted for $570 million in 2015 and is expected to grow up to $1,186 million by 2022 growing at a CAGR of 11.03% from 2015 to 2022. The increasing LED market, better connectivity, stylish electronics electrification of transport are the factors that are driving the market growth. However, physical properties are one of the factors hindering the market growth. The major market share is captured by computer segment with electronic systems becoming faster, hotter, more compact, and portable, the need for better TIMs in consumer and industrial computing will continue.
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Greases & Adhesives segment is the dominating material market. Asia Pacific region is the largest and fastest growing market for greases & adhesives segment. Thermal grease is used to fill gaps between power devices and heat sinks and they remain popular in consumer electronics and industrial computing. Asia Pacific region leads the market globally with the biggest market share and is expected to grow at a high CAGR among the other regions. In Asia Pacific, China, Japan, South Korea, and India are the leading markets for Thermal Interface Materials.
Some of the key players in the global market include Henkel AG & Co. KGAA, DOW Corning Corporation, 3M Company, Parker Hannifin Corporation, Honeywell International Inc., Indium Corporation, Momentive Performance Materials Inc., The Bergquist Company, Inc., Laird Technologies, Inc., Zalman Tech Co., Ltd., Fujipoly, Graftech International Holdings Inc., Stockwell Elastomerics, Inc., Wakefield-Vette, Inc., and MH&W International.
Thermal Interface material types covered:
Phase Change Material
Greases & Adhesives
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Power supply units
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