Thermal Interface Materials Market

In 2024 the global thermal interface materials market is estimated to be USD 3.56 billion. It is projected to grow at a CAGR of 9.7% during the forecast period. By 2029, the market is projected to reach USD 5.64 billion. The major factors driving the growth of the market include the expanding electronics production like computers, mobile phones, rise in the telecommunication industry, electric vehicles to name a few.

The major players in the thermal interface materials market with a significant global presence are are Honeywell International Inc. (US), 3M (US), Henkel AG & Co. KGaA (Germany), Parker Hannifin Corporation (US), DOW (US), Laird Technologies Inc. (US), Momentive (US), Wakefield Thermal Inc. (US), Indium Corporation (US), and Zalma Tech Co. Ltd. (South Korea)etc. The market players have adopted various strategies such as development of advanced products, partnerships, expansions, and acquisitions to strengthen their position in the thermal interface materials market.

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Honeywell International Inc. (US) operates as a diversified technology and manufacturing company. The company operates through four major business segments: aerospace, Honeywell building technologies, performance materials & technologies, and safety & productivity solutions. Honeywell's diverse portfolio combines physical products with advanced software to deliver global solutions across various industries. The company’s long term presence in the market has created a good brand name for it in the market.

3M (US) is primarily engaged in offering a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. The company operates through four business segments: safety & industrial, healthcare, consumer. Collaborations,product launches and enhancement  in focus of business were some main strategies used by the company.

Henkel AG & Co. KGaA (Germany) is industrial and consumer market products manufacturer based in Germany. It operates its business through two business segments: adhesive technologies, and consumer brands. Under the adhesive technologies segment, industrial products such as adhesives, sealants and functional coatings are offered. It has a presence across all the continents with Europe and North America representing its major markets. Deals like partnerships and acquisitions along with some major expansions were adopted by company.

Parker Hannifin Corp (US) is a US based company specializing in developing motion and control technologies. The company operates its business through two reportable segments namely Diversifies industrial and Aerospace systems segments. The TIM products are grouped into Chomerics division and Assembly & Protection Solutions division. The company is known for innovation and has launched a number of products in the market. For example, recently, it launched a new range of thermal greases made from silicone and ceramic filler materials for use in heat dissipation for electronics.

Dow (US) is a diversified products & solution company. The company aims to become the most innovative, customer-centric, inclusive, and sustainable materials science company in the world. Dow is a diversified American corporation with an extensive portfolio that spans various categories. Expansions and product launches were made by the company to expand market presence. In 2022, it expanded its production of thermal technologies in China and Germany.

Related Reports:

Thermal Interface Materials Market by Material (Silicone, Epoxy,Polymide), Type (Greases & Adhesives, Tapes & Films, Gap Fillers, Phase Change Materials), Application (Computers, Telecom, Consumer Durables) & Region - Global Forecast to 2029

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