Governments of various nations are strengthening the push toward developing 5G equipment and infrastructure to lead in the 5G race. Organizations are researching and developing new technologies that can achieve a breakthrough in the 5G industry. The 5G equipment manufacturers ecosystem has many budding players, thriving toward achieving new antenna technologies and products in the market. The Horizon 2020 work program promotes innovation of 5G networks in Europe, China, the U.S., and Taiwan, including cross-border connected and automated mobility while conducting 5G trials across different vertical industries.

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Asia-Pacific and Japan (APJ) countries also have significant telecom players, such as SK Telecom, China Unicom, SoftBank, LG U+, and Optus. These companies collaborate with 5G equipment manufacturers and suppliers, such as Ericsson, Huawei, and Nokia, to deploy 5G base stations. The MIMO technology accelerates the performance of a 5G infrastructure, enhancing the unit's overall efficiency. The shift toward 5G technology also affects the business development and simultaneously ramp up the demand for new thermal interface materials with high thermal conductivity, low thermal resistance, and low dielectric constant.

5G smartphones are another key demand generating application segment of thermal interface materials. Thermal interface materials are used for various components in a smartphone, delivering the high power consuming 5G device's smooth functioning. Several companies are developing TIMs for smartphone applications. Some of the key players involved in the market are Laird Technologies, Inc., Henkel Corporation, and Shin-Etsu Chemical Co., Ltd.

Some of the manufacturers' common thermal interface materials are thermal greases, thermal pads, thermal gap fillers, and graphite sheets. Samsung Electronics and Huawei Technologies are the leading players in the 5G smartphone market. Samsung uses carbon fiber TIM and phase change materials along with thermal greases in their latest 5G smartphones. On the other hand, China-based player Huawei Technologies, Inc. is shifting toward the adoption of graphite sheets for 5G smartphone applications.

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In 2020, 5G smartphones acquired the largest market share in the applications segment of thermal interface materials. This is due to a large volume of 5G smartphones embedded with high power systems on chips and memory units for delivering fast performance, generating heat. Some of the leading players manufacturing thermal interface materials specially dedicated for 5G base station applications are Laird Technologies, Henkel Corporation, and JONES TECH PLC.

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