Major players in the thermal interface materials market are The 3M Company, Zalman Tech Co. Ltd. , Wakefield-Vette Inc. , Indium Corporation, The Berquist Company Inc. , Momentive Performance Materials Inc.
New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Thermal Interface Materials Global Market Report 2021: COVID-19 Impact And Recovery" - https://www.reportlinker.com/p06036655/?utm_source=GNW
, Laird Technologies Inc., DOW Corning Corporation, Parker Hannifin Corporation, Henkel AG & Co. KGAA, Fujipoly, DK Thermal Metal Circuit Technology Ltd., AI Technology, AIM Specialty Materials, AOS Thermal, Denka, Universal Science, Dymax Corporation, Ellsworth Adhesives, Enerdyne, European Thermodynamics Ltd, Inkron, Kitagawa Industries, LORD, MA Electronics, MH&W International, Minteq, Parker Chomerics, Resinlab, Schlegel Electronics Materials, and ShinEtsu.
The global thermal interface materials market is expected to grow from $1.78 billion in 2020 to $1.97 billion in 2021 at a compound annual growth rate (CAGR) of 10.42%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3.06 billion in 2025 at a CAGR of 11.72%.
The thermal interface materials market consists of sales of thermal interface materials and related services by entities (organizations, sole traders, and partnerships) that are engaged in manufacturing and selling thermal interface materials such as thermal tapes, greases, elastomeric pads, and solders.Thermal interface materials are made from conducting materials such as metals, silicon, and metal oxides and are applied between hard surfaces for conducting heat.
Thermal interface materials find their applications mainly in electronics, medical devices, and industrial machinery. Only goods and services traded between entities or sold to end consumers are included.
The main types of thermal interface materials (TIMs) are greases & adhesives, tapes & films, gap fillers, metal-based TIMs, and phase change materials.Metal-based TIMs are substances that absorb or release latent heat when they change their physical state from solid to liquid.
TIMs are generally composed of silicone, epoxy, polyimide and are used in several sectors including telecom, computer manufacturing, medical devices, industrial machinery, consumer durables, and automotive electronics.
Asia Pacific was the largest region in the thermal interface materials market in 2020. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The COVID-19 outbreak is a major factor that limited the growth of the thermal interface materials market.The spike in the number of people suffering from coronavirus enforced the government to impose lockdowns, which in turn resulted in the temporary closure of many businesses and trade losses.
Manufacturing projects were kept on hold due to social distancing practices and lack of labor across the globe.The shutdown of thermal interface materials manufacturing sites and disruptions in supply chain and logistics significantly impacted the revenues of the market.
For instance, according to the Engineering Export Promotion Council of India (EEPC), the estimated trade impact of coronavirus outbreak for India was approximately $348 million and India is among the top 15 economies that were most affected as the manufacturing sector slowed down. Thus, the slowdown of the manufacturing sector due to COVID-19 including thermal interface materials acted as a major restraint for market growth.
In September 2018, Century Boats, Lydall, Inc., a US-based manufacturer of specialty engineered products for the filtration/separation and thermal/acoustical markets, announced the acquisition of Interface Performance Materials Inc. for an amount of $265 million. The acquisition is expected to advance Lydall’s engineered materials offerings in new markets with similar technologies utilized in the performance materials business. Interface Performance Materials Inc. manufactures and sells advanced materials and offers various products such as fiber composite and gasket engineered materials, self-adhesive thermal shield, sealing solutions, specialty products, and thermal management systems.
The increasing demand for electronic devices is anticipated to boost the demand for the thermal interface materials market over the coming years.Growing usage of thermal interface materials in electronic devices such as tablets, computers, smartphones, and video games attributing to its thermal conductive properties that help in strengthening the efficiency and life of electronic devices, is expected to contribute to the market growth.
According to the India Brand Equity Foundation (Ministry of Commerce & Industry, Government of India), the Indian appliance and consumer electronics (ACE) market reached $10.93 billion in 2019 and is projected to double to reach $21.18 billion by the end of 2025. Therefore, the surge in demand for electronics devices and appliances is expected to generate higher revenues for the thermal interface materials market.
Major players operating in the thermal interface materials market are focusing on developing new innovative products to expand their product portfolio, meet the requirements for various end-use industries, and maintain their position in the competitive business environment.For instance, in April 2020, Henkel AG & Co.
KGaA introduced Loctite EA 9536 magnet bonding tape with easy assembly and high material extension for electric motors.It offers unique properties compared to the existing products in the market.
The epoxy-based adhesive film can absorb oil and dirt and can be produced in various shapes and sizes customized to specific applications.The special epoxy resins create an elastic and strong bond that holds magnets securely in position.
Moreover, in September 2020, Parker Hannifin Corporation, a US-based company specializing in control and motion technologies launched THERM-A-GAP GEL 37, the next generation of single component and thermally conductive dispensable materials. The material has been specifically designed to limit the batch-to-batch differences typically found in thermal dispensable materials.
The countries covered in the thermal interface materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06036655/?utm_source=GNW
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