The global thermal interface materials market was valued at US$ 1,975 Mn in 2017 and is anticipated to expand at a CAGR of 9.0% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Thermal Interface Materials Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Thermal interface materials are used as fillers between two parts or components in order to increase thermal conductance between the contact points of those components.

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These materials help improve the overall thermal efficiency of the system by eliminating gaps formed during the contact of the uneven and rough machined surfaces of joined components. These air gaps are poor conductors of heat. Elimination of gaps enables the heat flow to improve between the contact surfaces. Thus, electronic assemblers use these materials during the joining process, especially in applications where heat movement is important for proper functioning of the overall system.

Increase in Electrification and Rise in Sales of Transportation Vehicles Projected to Boost Thermal Interface Materials Market

Rise in electrification of transportation vehicles and increase in demand for these vehicles across the globe are likely to propel the thermal interface materials market. Electrification of transport vehicles is primarily the result of technological advancements in fuel cell and battery areas along with advancements in power train systems. Electric and electronic devices used in these vehicles are sensitive to temperature and can get damaged or severely degraded if operated at temperatures above their design limits. Therefore, heat flow is vital for these devices. This is driving the demand for thermal interface materials. Significant expansion in the electronics industry in developing countries is also anticipated to augment the market in the near future.

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Improvement in standard of living, increase in disposable income, favorable duty structures, and ongoing government projects and schemes in developing countries are estimated to propel the demand for electronic goods in these countries. Increase in demand for smartphones, especially in developing countries, owing to the decline in prices of smartphones, evolving technology, and decreasing voice and data tariffs in these countries is also anticipated to boost the demand for thermal interface materials in the near future. Furthermore, growth in the electric vehicles industry is projected to drive the market.

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