Impact of COVID-19 on Thermal Interface Materials Market Trend : Implications on Business

Rise in Need for Effective Thermal Management in Global Electronics Industry to Create Opportunity for Global Liquid Thermal Interface Materials Market

  • Effective thermal management remains a key to ensuring consistent long-term performance and reliability of electronic devices. Liquid versions of thermal interface materials have become increasingly prevalent in the recent years. These liquid products offer low-cost alternatives for thermal interface pads.
  • Liquid thermal interface materials are dispensed as a liquid. They can either remain in a liquid state or cure-in-place in the application, thereby forming a thermally conductive, dielectric layer. Liquid thermal interface materials offer several functional advantages over traditional methods, for instance, ease of automation and low thermal resistance. This results in significant cost savings.
  • Liquid thermal interface materials facilitate the use of a single material in several applications and in diverse forms. This leads to price advantage while purchasing materials in large volumes.
  • Use of liquid thermal interface materials in thermal management systems is expected to gain significant momentum in the near future, due to their exceptional heat extraction and conducting abilities, which offer higher efficacy than the conventional coolants

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Key Drivers of Global Liquid Thermal Interface Materials Market

  • Properly applied thermal interface materials replace the air present in gaps between the two objects with a material with much higher thermal conductivity. With an increasing range of electronic applications calling for smaller packaging, higher power, and lower cost, the need for innovative and high-performance thermal solutions designed for ease of automation is expected to increase substantially between 2019 and 2027.
  • The automotive segment accounted for a major share of the global liquid thermal interface materials market in 2018, owing to the rising trends of production of electric vehicles, autonomous driving, advanced driver assistance systems (ADASs), and networking of vehicles.
  • Electric vehicles is the future of the global automotive industry. Strong indicators depicted by the electric vehicles industry are estimated to create significant demand for liquid thermal interface materials during the forecast period.

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Thermal Grease, Thermal Adhesive Fluids, and Thermal Liquid Metals to Witness Substantial Demand

  • Based on product, the global liquid thermal interface materials market can be segmented into thermal grease, thermal adhesive fluids, and thermal liquid metals
  • Demand for all these product types of liquid thermal interface materials is expected to rise in the global electronics industry during the forecast period, as they help in reducing the overall cost of production while enhancing the thermal performance of assemblies
  • Liquid thermal interface materials essentially involve no dimensional restrictions and they can be dispensed to fill any dimension. They can displace several thermal interface materials used within the module and reduce the overall part count within the module.

Significant Growth Potential of Automotive Electronics Segment

  • Based on application, the global liquid thermal interface materials market can be divided into computers, automotive electronics, industrial machinery, telecommunications, consumer durables, medical devices, and others. Liquid thermal interface materials were originally designed for use in highly automated production lines. In terms of demand, the automotive electronics segment is projected to hold a major share of the global market for liquid thermal interface materials between 2019 and 2027.

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Asia Pacific to be a Key Market for Liquid Thermal Interface Materials

  • In terms of region, the global liquid thermal interface materials market can be divided into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • China’s leading position in various end-user industries such as consumer electronics, aerospace, and automotive is likely to propel the demand for liquid thermal interface materials in the near future
  • Electro-mobility is a leading priority in China. The country continues to play an increasingly dynamic role as a global provider of e-mobility. According to the Government of China, five million electric cars are set to hit China’s roads by 2022. Manufacturers need to sell at least 12% of new cars with electric motors by 2022 in order to avoid high penalties. These trends are anticipated to present significant potential for the liquid thermal interface materials market in Asia Pacific in the near future.

Key Manufacturers Operating in the Market

The global liquid thermal interface materials market was highly fragmented in 2018. Key manufacturers operating in the global market are:

  • Henkel
  • Lord Corporation
  • 3M
  • DuPont de Nemours, Inc.
  • Parker Hannifin Corp
  • Laird Technology
  • Momentive Inc.
  • Indium Corporation
  • Shin-Etsu Chemical Ltd
  • Boyd Corporation
  • Marian Inc.

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