The global thermal interface materials market size is estimated at USD 2.8 billion in 2020 and is projected to reach USD 4.6 billion by 2025, at a CAGR of 10.4%, between 2020 and 2025. Thermal interface materials fill the small voids and imperfections between heat sinks and heat sources to minimize the thermal resistance. TIMs are used to bond the two components and eliminate air gaps from the interface, creating a thermally conductive bond that efficiently transfers heat from the critical operating components of the device. TIMs are used in various applications such as computers, telecom, consumer durables, medical devices, automotive electronics, industrial machinery, and others.
APAC is the largest market for thermal interface materials market due to growing population, growing internet user base, rising per-capita income, rapid industrialization, and development of end-use industries. Major companies in the market are establishing and expanding their manufacturing base in APAC region to meet the growing demand for thermal interface materials. Growing economies such as China, India, and Japan are major markets for TIMs in the region.
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The key players in the antimicrobial hospital textiles market are Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), Dow Corning Corporation (US), Laird Technologies (US), Momentive Performance Materials (US), Indim Corporation (US), Wakefield-Vette (US), Zalma Tech Co. Ltd. (South Korea). The thermal interface materials market report analyzes the key growth strategies adopted by the leading market players, between 2014 and 2020, which include expansions, merger & acquisition, new product developments, and collaborations.
Honeywell International Inc. (US) operates as a diversified technology and manufacturing company. It operates through three business segments: aerospace, automation control solutions, and performance materials & technologies. The company offers TIMs through its performance materials & technologies segment. The company has a wide global presence in the North America, South America, Europe, and APAC.
3M (US) company is primarily engaged in offering a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. The company operates through five business segments, namely, industrial, safety & graphics, electronics & energy, healthcare, and consumer. 3M Company has a wide geographical presence with operations in more than 65 countries. The company offers TIMs through its electronics and energy segment. 3M operates globally through its subsidiaries such as 3M Canada, 3M Netherlands, 3M Russia, and Scientific Anglers among others.
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