The global thermal interface materials market size was valued at USD 1.53 billion in 2017. The rapid expansion of the electronics industry and medical industry in developing countries is the primary factor contributing towards the global thermal interface material industry growth. Furthermore, the rising popularity of electric vehicles is projected to boost the market demand during the forecast period.

Thermal interface materials are defined as any substrates used between the two component interfaces to improve the thermal coupling between these devices. Thermal interface materials are used in a number of industrial sectors such as consumer devices, LED lighting products, computers, telecommunication infrastructure, renewable energy, automotive, medical equipment, and military/industrial equipment. The strongest areas of growth are expected in thin-film photovoltaics, LEDs, medical devices and consumer electronics, with slower growth in mature computer, military and automotive sectors. The rising applications are accelerated by the development of new technologies such as phase change and metallic thermal interface materials especially for high-temperature applications that are likely to impact the global thermal interface materials market size in the future. The performance of a thermal interface material depends on the structure of the interface between the thermal interface material and each of the two surfaces, in addition to depending on the structure and thickness of the thermal interface material.

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Medical devices are projected to be the fastest growing application segment exceed 11% of the global thermal interface materials market share by 2025. Medical devices are witnessing an increasing shift towards miniaturization driven by safety factors, performance, and portability. Design engineers are facing new challenges with smaller instruments in meeting their projects’ performance, weight, size, operating temperature, and budget requirements. Each of these factors also impacts thermal management technology choices. Thermal management enables consistent temperature control and the power level of a device to be maintained without increasing the operating temperature. Furthermore, progress in the medical industry and the increasing use of wearable electronics are expected to create enormous growth potential over the forecast period.

The Middle East & Africa is anticipated to grow at a CAGR of 11.6% between 2018 and 2025. The booming medical devices industry in the region is expected to fuel the demand for thermal interface materials. Technological innovation, population growth, growing medical tourism industry, healthcare infrastructure development, and digital transformation are several other factors which are expected to offer lucrative opportunities for market growth. Additionally, the growth of automotive electronics due to favorable government policies, the increase in the number of automotive fleets and the large increase in foreign investments in the automotive industry will drive the thermal interface material market share growth in the region.

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The competitive landscape of the global thermal interface materials market is fragmented with a large number of players with global and regional presence. The key players in the thermal interface materials report include Wakefield-Vette, Indium Corporation, SEMIKRON Inc., DK Thermal, Parker Hannifin Corp, 3M, Laird Technologies, Honeywell International Inc., Henkel AG & Company KGaA and Dow Corning among others.

Key segments of the global thermal interface materials market

Product Overview, 2015-2025 (USD Million)
• Tapes & Films
• Elastomeric pads
• Greases & Adhesives
• Phase Change Materials
• Metal-Based

Application Overview, 2015-2025 (USD Million)
• Telecom
• Computer
• Medical Devices
• Industrial Machinery
• Consumer Durables
• Automotive Electronics

Regional Overview, 2015-2025 (USD Million)
• North America
• U.S.
• Canada
• Europe
• France
• Germany
• UK
• Rest of Europe
• Asia Pacific
• India
• Japan
• China
• Rest of APAC
• Latin America
• Brazil
• Rest of Latin America
• Middle East and Africa
• Saudi Arabia
• Rest of Middle East and Africa

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