(MENAFN- GlobeNewsWire - Nasdaq) Portland, OR, Jan. 25, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global t hermal i nterface m aterial market was estimated at $4.7 billion in 2021, and is projected to reach $10.8 billion by 2031, growing at a CAGR of 8.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report C overage & D etails:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4.7 billion |
| Market Size in 2031 | $10.8 billion |
| CAGR | 8.8% |
| No. of Pages in Report | 256 |
| Segments Covered | Type, application, and Region. |
| Drivers | Growing demand for thermal interface materials for miniature device packaging |
| Growing demand for thermal interface materials in automotive electronics |
| Restraints | Disadvantages associated with use of thermal interface materials |
|
| Opportunities | Growing demand for thermal interface materials in medical electronics |
Covid-19 S cenario-
The thermal interface material market had a negative impact due to the decrease in the potential sales of automotive and electronics sector in major economies such as the U.S., Germany, and China. However, the automotive, electronics, industrial machinery, and manufacturing activities are projected to get back on track and start functioning at the full capacity post the COVID-19 period, which in turn is expected to enhance the performance of the thermal interface material market in 2021.
The global thermal interface material market is analyzed across type, application, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
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By type, the greases & adhesives segment held the largest share in 2021, garnering more than 31% of the global thermal interface material market revenue, and is projected to maintain its dominance by 2031. The gap fillers metallic TIMs segment, on the other hand, would showcase the fastest CAGR of 8.5% during the forecast period.
By application, the computer segment contributed to nearly one-fourth of the global thermal interface material market share in 2021, and is projected to rule the market by 2031. The automotive electronics segment, on the other hand, would display the fastest CAGR of 9.2% throughout the forecast period. The other segments assessed through the report take in telecom, medical devices, industrial machines, consumer durables, and other segments.
By region, Asia-Pacific held the major share in 2021, garnering more than two-fifth of the global thermal interface material market revenue. The same region would also showcase the fastest cagr of 9.4% from 2022 to 2031. The other provinces assessed through the report include North America, Europe, and LAMEA.
The key market players analyzed in the global thermal interface material market report include Laird Technologies Inc., DuPont, Honeywell International Inc. (Honeywell), Henkel Corporation, Zalman, 3M, Indium Corporation, Wakefield Thermal Solutions, Inc., Parker-Hannifin Corporation, and Momentive. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of 'Market Research Reports' and 'Business Intelligence Solutions.' AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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