According to Fortune Business Insights the global thermal interface materials market share is expected to gain momentum owing to the increasing demand for electric vehicles and the rising adoption of advanced electronic products across the globe. Fortune Business Insights, published this information in its upcoming report, titled, “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, 2019-2026.”
The novel coronavirus, COVID-19 has impacted several industries owing to the total lockdown announced by the government agencies across the globe. The unprecedented economic loss has been huge and the businesses are reeling to get back to normalcy. A collective effort between the government and industries will ensure that the global economy gets back in track in the near future.
Thermal interface materials are type of products that aid in thermal conduction between mechanical surfaces. These surfaces include heat sink and semiconductor devices. Additionally, they aid in enhancing the thermal coupling between two surfaces and offer better thermal management system.
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What does the Report Include?
The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the growth of the market between 2019 and 2026. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Growing Demand for Electric Vehicles to Augment Growth
The growing focus on adopting energy-efficient options in automotive is driving the demand for electric vehicles across the globe. The increasing production of EVs is expected to boost the demand for advanced thermal interface materials as they aid in the energy transfer between cooling devices and battery components. In addition to this, the surging demand for electronic materials owing to the rising digital media influence is expected to favor the growth of the global thermal interface materials market in the forthcoming years.
Asia-Pacific to Remain Dominant; Rising Electronics Industry to Surge Demand
Among all the regions, Asia-Pacific is expected to hold the highest position in the global thermal interface materials market during the forecast period. This is attributable to the rising electronics industry that drives the demand for advanced thermal interface materials in the region between 2019 and 2026.
The market in North America is expected to showcase a considerable growth on account on the increasing adoption of technology and innovation in countries such as the U.S. in the region.
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Key Players Focus on Facility Expansion to Brighten Their Market Prospects
The global thermal interface materials market is consolidated by the presence of key players that are striving to maintain their presence and strengthen their positions by expanding their facilities to develop advanced thermal interface materials. The major companies are adopting strategies such as merger and acquisition, partnership, and collaboration that are expected to favor the market growth in the forthcoming years.
- September 2020 – Wacker announced the launch of its new global competence center for thermal interface materials located at Shanghai, China. According to the company, the new R&D lab is built with an aim to develop silicone-based thermal interface materials and other novel applications.
List of the Companies Profiled in the Global Market for Thermal Interface Materials:
- Henkel Corporation
- Bergquist Company
- Zalman Tech Co., Ltd.
- Momentive Performance Materials Inc
- Indium Corporation
- Parker Chomerics
- Laird Technologies
- Boyd Corporation
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