Thermal Interface Materials Market worth $5.64 billion by 2029, at a CAGR of 9.7%, says MarketsandMarkets™

/EIN News/ -- Delray Beach, FL, April 07, 2025 (GLOBE NEWSWIRE) -- 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, as per the recent study by MarketsandMarkets™. The major factors driving the growth of the market include the increasing demand from small electronic products whose demand is increasing currently and due to the growth in the LED market.

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.

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Browse in-depth TOC on “Thermal Interface Materials Market”

284 - Market Data Tables
61 – Figures
285 - Pages

List of Key Players in Thermal Interface Materials Market:

1. Honeywell International Inc. (US)
2. 3M (US)
3. Henkel AG & Co. KGaA (Germany)
4. Parker Hannifin Corporation (US)
5. DOW (US)
6. Laird Technologies Inc. (US)
7. Momentive (US)
8. Wakefield Thermal Inc. (US)
9. Indium Corporation (US)
10. Zalma Tech Co. Ltd. (South Korea)

Drivers, Opportunities and Challenges in Thermal Interface Materials Market:

1. Drivers: Increasing demand for consumer electronics
2. Restraint: Physical properties limiting the performance of thermal interface materials
3. Opportunity: Adoption of 5G technology
4. Challenge: Finding optimum operating costs for end users

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Key Findings of the Study:

1. By Material, Silicone material to have largest share
2. By Type, Greases & adhesives type of thermal interface material to have largest share
3. Computers & data centers segment to account for fastest growth in the thermal interface materials market
4. Asia Pacific region is the largest market for thermal interface materials

The silicone material type is predicted to be the largest of materials used in making thermal interface materials and other materials include epoxy, polyamide. 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.

Honeywell International Inc. (US) operates as a diversified technology and manufacturing company. The company operates through four major business segments: aerospace, Honeywell building technologies, performance materials & technologies, and safety & productivity solutions. Honeywell's diverse portfolio combines physical products with advanced software to deliver global solutions across various industries. The company’s long-term presence in the market has created a good brand name for it in the market.

3M (US) is primarily engaged in offering a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments: safety & industrial, healthcare, consumer. Collaborations, product launches and enhancement in focus of business were some main strategies used by the company.

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