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Thermal Interface Materials Market Size, Share & Industry Analysis, By Type (Greases & Adhesives, Tapes, Gap Fillers, Thermally conductive pad, Phase Change Materials, Metal thermal interface materials), By Application (Telecom, Computer, Medical Devices, Industrial Machinery, Consumer Durables, Automotive Electronics, Others) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI102950 | Status : Ongoing



Thermal interface materials are class of materials that are used to aid thermal conduction between mechanically mated surfaces, for instance a heat sink and a semiconductor device. These materials are employed to enhance the heat transfer in order to keep device properly functioning. Typically, thermal interface materials conduct heat 100 times better than the air to which these materials replace. Various types of products are available in the market but broadly fall into the category of fluid-like and solid-like. Fluid- like thermal interface materials include greases, adhesives, etc. and solid-like includes, tapes, pads, etc.

The usage of electronics is rapidly increasing all over the globe, especially in the developing countries. Digital transformation also opened new avenues of growth for electronics and in the coming years electronics is expected to penetrate even more in our day to day activities. Moreover, as the systems and machinery are becoming more efficient and powerful, the heating problem associated is also increasing. In order to ensure proper heat dissipation and functioning of the system, the thermal interface materials play a pivotal role in ensuring this proper working  of the system and avoid any damages.

Up Arrow

Key Market Driver -

Rising usage of electronics to increase the demand for thermal interface materials.

Down Arrow

Key Market Restraint -

Stagnancy in developed economies to hamper the market growth.

However, in many developed countries, the economies have reached the maturity levels and are witnessing only a small growth. This indeed is impacting the market growth. Nevertheless, the advancement in electronics and other technologies is expected to support the market growth in the developed countries.


Based on type, the market for thermal interface materials is segmented into greases & adhesives, tapes, gap fillers, thermally conductive pad, phase change materials, and metal thermal interface materials. On the basis of applications, the market is classified into telecom, computer, medical devices, industrial machinery, consumer durables, automotive electronics and others.

From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Players Covered:

The global thermal interface materials market is highly fragmented, with number of players operating in the global market. Some of the key players in the Thermal interface materials market includes, Henkel Corporation, Bergquist Company, Zalman Tech Co., Ltd., Momentive Performance Materials Inc., Indium Corporation, Parker Chomerics, Shin-Etsu, Laird Technologies, 3M, Boyd Corporation and others.

Key Insights

  • New Advancements in Production Technologies

  • Key Trends in the Thermal interface materials Market

  • New Product Launches, Expansions, Key Players

  • Ranking of Key Players in the Market


The thermal interface materials market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific dominates the consumption of thermal interface materials on the back of electronics & machinery industries in the region. Further, rising disposable income and rapid dvelopments in developing countries has boosted the consumption of electronics and other devices, which has in turn increased the consumtion of thermal interface materials. Countries like China, India, Taiwan and others are expected to lead the market in terms of growth as penetration of electronics is heavily increasing in these countries. North America region accounts for significant sahre in the market and is expected to witness steady growth over the forecast period owing to slowing growth of the economy. However, technological advancement and innovation can be a major breakthrough and increase the consumption for thermal interface materials in the region. Europe market is dominated by western European countries such as Germany, France, UK, Spain and Italy. Major growth in Europe region is expected to come from central and eastern European countries since, these countries are relatively less developed and offer a room for growth. Latin America is expected to witness slow to moderate growth as electronics, machinery and Automotive electronics industry is expanding in some of the countries such as Mexico, and Brazil. However, economic instability and political turbulence are likely to confine the market growth over the foreseeable period. Middle East and Africa region is anticipated to witness moderate growth as the region lacks in basic infrastructure for electronic industries.

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By Type

  • Greases & Adhesives

  • Tapes

  • Gap Fillers

  • Thermally conductive pad

  • Phase Change Materials

  • Metal thermal interface materials

By Application

  • Telecom

  • Computer

  • Medical Devices

  • Industrial Machinery

  • Consumer Durables

  • Automotive Electronics

  • Others

By Geography

  • North America (USA, Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia, BENELUX and Rest of Europe)

  • Asia Pacific (Japan, China, India, South Korea, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)

Thermal Interface Materials Industry Developments

  • In October 2019, Parker Hannifin Corporation, a US based company specialized in motion and control technologies, successfully acquired LORD Corporation, a manufacturer of advanced adhesives and coatings along with vibration and motion control technologies. With the acquisition the company has diversified its product portfolio giving it access to the advanced adhesives and coatings market including TIM.

  • In May 2019, Henkel Corporation, a global player in chemical and consumer goods category headquartered in Germany, launched novel thermal and solder material solutions at PCIM Europe 2019 exhibition. The company launched new liquid-dispensed, low-outgassing and one-part thermal interface materials (TIMs) specially designed for high-power industrial automation, automotive power conversion and automotive advanced driver-assistance systems (ADAS) applications

  • Ongoing
  • 2023
  • 2019-2022

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