According to a new market report published by Acute Market Reports “Thermal Interface Materials Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2021,” the thermal interface materials market was valued US$ 774.0 Mn in 2015 and is expected to reach US$ 1,711.0 Mn by 2023, expanding at a CAGR of 12.0% from 2015 to 2023.
Browse the full Thermal Interface Materials (Tapes & Films, Metal Based, Greases & Adhesives, Phase Change, Gap Fillers, Others) Market for Automotive Electronics, Industrial Machinery, Telecom, Consumer Durables, Medical Devices, Computers and Others Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2021 report at https://www.acutemarketreports.com/report/thermal-interface-materials-market
Market Insights:
Thermal interface materials portray any material which is inserted in between two parts to improve the thermal coupling of the materials. Several kinds of thermal interface materials exist which have different applications. Some of them include thermal glue, thermal grease, thermal gap filler, thermal adhesive and thermal pad. Thermal interface materials are used on a large scale in various end-user industries.
The major factor driving the growth of global thermal interface materials market is the high demand for thermal interface materials from various end-user industries worldwide. Rising demand for sophisticated electronics has boosted growth of global thermal interface market. Thermal interface materials play an important role in conventionally packaged electronic systems which also represent the highest thermal resistance. As vehicles incorporate more electrical and electronic devices, thermal management has become very important. Growing demand for seamless connectivity is another factor driving the growth of global thermal interface materials market. As demand for wide reaching network and comprehensive wireless network is rising, the reliability is also expected to increase with improved quality. Hence, growing demand is reported for seamless connectivity worldwide. Growing LED market has also fueled market growth of thermal interface materials worldwide. LED has been the leading light technology as compared to CFL’s and other lights. Hence, thermal interface materials are gaining high demand in global market.
Competitive Insights:
Thermal interface materials market, on the basis of applications is segmented into automotive electronics, industrial, telecom, consumer durables, medical devices, computers and others. Among them, telecom accounted as the largest application segment of global thermal interface materials market. Consumer durables followed telecom in terms of demand and accounted as second largest application segment of thermal interface materials market. Automotive electronics accounted as the fastest growing application of global thermal interface materials market. Rising trend of advanced safety systems along with large number of technologies present in the market has led to the growth of global thermal interface materials market. Asia Pacific accounted as the largest consumer of automotive electronics and hence is expected to generate high demand for global thermal interface materials market.
Key Trends:
