According to the Market Statsville Group, the global electronic thermal management materials market the size should go from $5,680.1 million in 2021 at $11,152.8 million by 2030at a CAGR of 8.8% from 2022 to 2030. Thermal management is becoming a vital technological challenge in modern electronics, reducing device size and increasing power density. The development of advanced thermal interfaces in electrical packaging is a key hardware innovation to enable efficient heat dissipation and improve device performance. It has attracted intensive research efforts from universities and industry over the past decades. Some cubic crystals possess high isotropic thermal conductivity desirable for heat diffusion applications. For example, with its diamond lattice structure, the Si used for substrates in most modern electronic devices is considered a relatively good thermal conductor with thermal conductivity at room temperature.
Recent advances have established successful management of conductive heat transfer and have led to novel heat guiding structures such as thermal cloaks, concentrators, etc. These developments imply new opportunities to guide heat transfer in complex systems and new packaging approaches related to the thermal management of electronics. There is an increased need for efficient thermal management of electric vehicles as the vehicle market grows and reaches its full potential. Keeping heat under control improves the charging, range, longevity, performance and safety of electric vehicles.
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Global electronic thermal management materials market definition
All electronic devices and circuits generate heat and therefore require thermal management to improve reliability and prevent premature failure. heat management means monitoring and controlling the temperatures produced by devices in electrical cabinets.
Global Electronic Thermal Management Materials Market Dynamics
Drivers: Growing adoption of electronic devices across various end-use industries is mainly driving the market
Electronic devices have found application in different end-use industries including consumer electronics, automotive, aerospace, healthcare, and telecommunications. The demand for electronic equipment and devices from these end-use industries has grown rapidly over the past decade. Increasingly inexpensive technology coupled with thriving end-use industries is driving demand for electronics. As innovative manufacturing processes have been developed and raw materials are widely available, the prices of electronic products are falling. Additionally, end-use industries such as consumer electronics, automotive, aerospace, and telecommunications are growing amid rising consumer disposable income. The disposable income of consumers in developing countries like India and China is growing at higher rates than in developed countries.
Constraints: The high price of custom thermal management materials is significantly hampering market growth
Custom thermal management materials are expensive due to the need for expensive raw materials, sophisticated machinery, and highly skilled labor. Raw materials such as boron, gallium, indium, and arsenic used to make thermal management materials are scarce and expensive. According to US Census Bureau data, the average unit value of imported low-grade gallium in 2017 was estimated at $124 per kilogram, while the average price of indium was around $360 per kilogram. Additionally, some nanomaterials used in thermal management materials such as nanocrystals, nanofilms, and carbon nanotubes require advanced equipment and expensive chemicals.
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Opportunities: Technological advancements and innovation are expected to provide favorable opportunities for market players
In recent years, extensive research has been conducted in the area of thermal management, primarily due to the rapid development of faster, cheaper, and more powerful computing. With advances in nanoelectronics and the emergence of innovative application areas such as three-dimensional chip stack architectures and flexible electronics, there are opportunities to develop new materials to help address some of these management challenges. thermal requirements.
Segmentation of the global electronic thermal management materials market
The Electronic Thermal Management Materials market has been categorized based on the product and end users at regional and global level.
By Product Perspective (Sales, million USD, 2017–2030)
- conductive paste
- Conductive strip
- Phase change materials
- Space fillers
From end-user perspectives (Sales, million USD, 2017–2030)
- Consumer electronics
- Health care
Outlook by region (Sales, million USD, 2017–2030)
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)
The conductive paste segment, by product, accounted for the largest market share
By product, the market has been categorized into conductive paste, conductive tape, phase change materials, gap fillers and greases. The conductive paste segment is expected to be dominated in 2021, with a market share of 39.1% in the global electronic thermal management materials market. Conductive or thermal paste is a thermally conductive compound applied between the heat source and the heatsinks to eliminate air gaps. Most standard conductive paste formulations include electrical insulators. Conductive paste consists of a base matrix and a thermally conductive filler. Typical matrix materials include epoxies, silicones, urethanes and acrylates.
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Conductive or thermal paste is a thermally conductive compound applied between the heat source and the heatsinks to eliminate air gaps. Most standard conductive paste formulations include electrical insulators. Conductive paste consists of a base matrix and a thermally conductive filler. Typical matrix materials include epoxies, silicones, urethanes and acrylates.
Asia Pacific represents the highest CAGR over the forecast period
Market share will be provided in global regions including North America, Europe, Asia-Pacific, South America, Middle East & Africa. Asia-Pacific holds the highest CAGR of 9.5% in the electronic thermal management materials market over the forecast period. The Asia-Pacific region offers substantial potential for market growth owing to the rapid growth of China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, from Singapore, Australia and New Zealand. The electronic thermal management materials market in Asia-Pacific region will witness faster growth due to the rapid growth of countries such as China, Japan, and India, which will lead to an increase in market demand.
After Asia-Pacific, North America is the fastest growing region with a CAGR of 8.4% during the forecast period. The North American region accounts for the considerable market share, attributed to growing investments in technology solutions, adoption of thermal management technologies by many fields (i.e. automotive, aerospace, healthcare, consumer electronics) and low operating cost. Several prominent players in thermal management technologies, for example, Parker-Hannifin Corp, Advanced Cooling Technologies Inc., Honeywell International Inc., and Gentherm Inc., are headquartered in the North America region.
Key Players of the Global Electronic Thermal Management Market
Global Electronic Thermal Management Materials Market Key Players Include:
The best winning strategies are analyzed by performing an in-depth study of the major players in the global electronic thermal management market. A comprehensive analysis of recent developments and growth charts of various companies has helped in understanding their growth strategies and potential effect on the market. Companies are rated based on annual reports, SEC filings, and press releases.
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