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The Thermal Interface Materials Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Thermal Interface Materials Global Market Report 2024, The thermal interface materials market size has grown rapidly in recent years. It will grow from $2.52 billion in 2023 to $2.85 billion in 2024 at a compound annual growth rate (CAGR) of 12.9%. The growth in the historic period can be attributed to electronic device miniaturization, semiconductor industry growth, consumer electronics boom, automotive electronics, industrial equipment cooling..

The thermal interface materials market size is expected to see rapid growth in the next few years. It will grow to $4.47 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to electric vehicle proliferation, renewable energy technologies, medical device innovations, climate change concerns, ai and iot expansion. . Major trends in the forecast period include advanced bonding technologies, thermal gap fillers, innovations in tim packaging , thermal management simulation, nanomaterial integration..

The increasing demand for electronic devices is anticipated to boost the demand for the thermal interface materials market over the coming years. Electronic devices are devices that use electrical energy to perform various functions, such as computing, communication, or control. Thermal interface materials are used in electronic devices, such as tablets, computers, smartphones, and video games, for their thermal conductive properties that help in strengthening the efficiency and life of electronic devices is expected to contribute to market growth. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total electronic equipment production in Japan reached $52,36,535 million (¥771,457 million). In addition, consumer electronics production reached $2,178,430 million (¥32,099 million) in May 2023, compared to $1,714,724 million (¥25,268 million) in May 2022. Therefore, the surge in demand for electronic devices and appliances is expected to generate higher revenues for the thermal interface materials market.

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The thermal interface materials market covered in this report is segmented –

1) By Type: Greases & Adhesives, Tapes & Films, Gap Fillers, Metal-Based TIMs, Phase Change Materials, Other Types

2) By Chemistry: Silicone, Epoxy, Polyimide, Other Chemistries

3) By Application: Telecom, Computer, Medical Devices, Industrial Machinery, Consumer Durables, Automotive Electronics, Other Applications

Major companies operating in the thermal interface materials market focus on product innovation. The innovation involves development and implementation of new or improved technologies, materials, or designs that enhance heat transfer efficiency and reliability in electronic devices. For instance, in January 2023, Electrolube, a UK-based advanced solutions company for engineering and technology, launched the new GF600 thermal gap filler. GF600 is a two-part, liquid silicone-based gap filler that provides excellent thermal performance and can be cured at room temperature or accelerated with heat.

The thermal interface materials market report table of contents includes: