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ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET FORECAST 2023-2032

SCOPE OF THE REPORT

Asia-Pacific Thermal Interface Materials Market by Type (Greases & Adhesives, Thermal Pads, Tapes & Films, Phase Change Materials, Metal-based Thermal Interface Materials, Other Types) Market by Application (Automotive Electronics, Computers, Telecom, Consumer Durables, Medical Devices, Industrial Machinery, Other Applications) by Geography


MARKET OVERVIEW

The Asia-Pacific thermal interface materials market is anticipated to grow with a CAGR of 10.23% over the forecasting period of 2023 to 2032. The market is projected to reach a revenue of $3897.89 million by 2032.

The AsiaPacific region is experiencing significant expansion in the thermal interface materials market. The growth of industries like data centers, 5G, and advanced driver-assistance systems in various Asian countries drives the need for thermal interface materials to manage heat in these applications. Furthermore, the electronics manufacturing industry in Indonesia, Malaysia, Singapore, and Vietnam is set to generate demand for thermal interface materials as electronic devices become more advanced and require efficient thermal management.

Asia-Pacific Thermal Interface Materials Market

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The Asia-Pacific thermal interface materials market growth assessment covers a detailed study of China, Japan, India, South Korea, Indonesia, Thailand, Malaysia, the Philippines, Singapore, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific. China stands as the market leader, with over 60% of global sales in the electric vehicle sector. Currently, the nation represents more than half of all-electric vehicles on the road, having already surpassed its target for new energy vehicle sales by 2025. As per the International Energy Agency, China is projected to maintain its position as the largest market for electric cars, foreseeing 40% of total sales by 2030. Thus, the need for enhanced thermal interface materials to provide greater thermal management of the batteries and power electronics is driven by the increasing power density of electric vehicle battery packs. Overall, in China, amongst many applications, the demand for thermal interface materials is anticipated to be fueled by the growing adoption of new energy vehicles. 

Japan is emerging as a technologically advanced hub within the Asia-Pacific as well as on a global scale. The region hosts several technological leaders, automotive giants, and electronics companies, generating a consistent need for thermal interface materials. This demand is reflective of the country’s prominence in the Asia-Pacific market. Shin-Etsu Chemical Co Ltd achieved a milestone in April 2022 with the introduction of the ‘TC-BGI Series,’ a thermal interface silicone rubber sheet designed for applications in electric vehicle components, particularly as high voltage device technology progresses. Such advancements by key market players are anticipated to contribute significantly to the expansion of the thermal interface materials market in Japan.

The Asia-Pacific thermal interface materials market is segmented into type and application. The type segment includes greases & adhesives, thermal pads, tapes & films, phase change materials, metal-based thermal interface materials, and other types. Tapes and films provide effective heat management solutions for various electronic applications. These materials are designed as thin, flexible, and often self-adhesive sheets that can be easily applied between heat-generating components and heat sinks. Tapes and films are widely utilized in electronics, automotive, aerospace, and telecommunications industries, where efficient thermal management is crucial to ensure optimal device performance and reliability.

Leading players operating in the Asia-Pacific thermal interface materials market include Shin-Etsu Chemical Co Ltd, Indium Corporation, etc. 

Shin-Etsu Chemical Co Ltd, headquartered in Japan, is a producer and supplier of electronics and functional materials, organic and inorganic chemicals. The company’s products find application in infrastructure components, agricultural purposes, digital home appliances, electrical wires, medical appliances, everyday products and mobile phones. Polyvinyl chloride, silicones, cellulose derivatives, rare earth magnets, semiconductor silicon, LED packaging materials, epoxy molding compounds, and synthetic quartz are included in the company’s product list.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2023-2032
Base Year2022
Market Historical Years2018-2022
Forecast UnitsRevenue ($Million)
Segments Analyzed
Type and Application
Countries AnalyzedChina, Japan, India, South Korea, Indonesia, Thailand, Malaysia, the Philippines, Singapore, Vietnam, Australia & New Zealand, and Rest of Asia-Pacific
Companies AnalyzedAAVID Thermalloy LLC, 3M, Dow Chemical Company, Wakefield Thermal Inc, Timtronics, Shin-Etsu Chemical Co Ltd, Parker Hannifin Corporation, Momentive Performance Materials Inc, Laird Technologies Inc, Indium Corporation, Honeywell International Inc, Henkel AG & Co KGaA

TABLE OF CONTENT

  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
    5. MAJOR MARKET FINDINGS
      1. FLOURISHING HEALTHCARE INDUSTRY BOOSTS THERMAL INTERFACE MATERIALS’ DEMAND
      2. INCREASED USAGE OF PCTIM
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. ELECTRIFICATION OF THE AUTOMOBILE INDUSTRY
      2. RISING DEMAND FOR SOPHISTICATED ELECTRONICS
      3. THRIVING LED MARKET
      4. INCREASING NEED FOR SEAMLESS CONNECTIVITY
      5. WIDE INDUSTRIAL APPLICATIONS
    2. KEY RESTRAINTS
      1. PERFORMANCE LIMITED BY PHYSICAL PROPERTIES
      2. DERIVING OPTIMAL OPERATING COSTS FOR END-USERS
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. TECHNOLOGICAL ADVANCEMENTS
      2. GROWING COMMERCIAL USE OF MMC AND CMC
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTION
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET CONCENTRATION ANALYSIS
    5. VALUE CHAIN ANALYSIS
      1. RAW MATERIALS SUPPLIERS
      2. MANUFACTURERS
      3. END-USER
    6. KEY BUYING CRITERIA
      1. EASE OF APPLICATION & INSTALLATION
      2. RELIABILITY
      3. PERFORMANCE
      4. TYPE
      5. COMPATIBILITY
  5. MARKET BY TYPE
    1. GREASES & ADHESIVES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. THERMAL PADS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. TAPES & FILMS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. PHASE CHANGE MATERIALS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. METAL-BASED THERMAL INTERFACE MATERIALS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    6. OTHER TYPES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  6. MARKET BY APPLICATION
    1. AUTOMOTIVE ELECTRONICS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    2. COMPUTERS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    3. TELECOM
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    4. CONSUMER DURABLES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    5. MEDICAL DEVICES
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    6. INDUSTRIAL MACHINERY
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
    7. OTHER APPLICATIONS
      1. MARKET FORECAST FIGURE
      2. SEGMENT ANALYSIS
  7. GEOGRAPHICAL ANALYSIS
    1. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET DRIVERS
      3. ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET CHALLENGES
      4. KEY PLAYERS IN ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET
      5. COUNTRY ANALYSIS
        1. CHINA
          1. CHINA THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        2. JAPAN
          1. JAPAN THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        3. INDIA
          1. INDIA THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        4. SOUTH KOREA
          1. SOUTH KOREA THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        5. INDONESIA
          1. INDONESIA THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        6. THAILAND
          1. THAILAND THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        7. MALAYSIA
          1. MALAYSIA THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        8. PHILIPPINES
          1. PHILIPPINES THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        9. SINGAPORE
          1. SINGAPORE THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        10. VIETNAM
          1. VIETNAM THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        11. AUSTRALIA & NEW ZEALAND
          1. AUSTRALIA & NEW ZEALAND THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
        12. REST OF ASIA-PACIFIC
          1. REST OF ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET SIZE & OPPORTUNITIES
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. PRODUCT LAUNCHES & DEVELOPMENTS
      2. PARTNERSHIPS & AGREEMENTS
      3. MERGERS & ACQUISITIONS
    2. COMPANY PROFILES
      1. 3M
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      2. AAVID THERMALLOY LLC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      3. DOW CHEMICAL COMPANY
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      4. HENKEL AG & CO KGAA
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      5. HONEYWELL INTERNATIONAL INC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      6. INDIUM CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      7. LAIRD TECHNOLOGIES INC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      8. MOMENTIVE PERFORMANCE MATERIALS INC
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      9. PARKER HANNIFIN CORPORATION
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES 
      10. SHIN-ETSU CHEMICAL CO LTD
        1. COMPANY OVERVIEW
        2. PRODUCTS
        3. STRENGTHS & CHALLENGES
      11. TIMTRONICS
        1. COMPANY OVERVIEW
        2. PRODUCTS
      12. WAKEFIELD THERMAL INC
        1. COMPANY OVERVIEW
        2. PRODUCTS

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – THERMAL INTERFACE MATERIALS

TABLE 2: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY TYPE, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 4: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY APPLICATION, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 6: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY COUNTRY, FORECAST YEARS, 2023-2032 (IN $ MILLION)

TABLE 8: KEY PLAYERS OPERATING IN ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET

TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 10: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 11: LIST OF MERGERS & ACQUISITIONS

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING FOR CHINA AND INDIA

FIGURE 4: MARKET CONCENTRATION ANALYSIS

FIGURE 5: VALUE CHAIN ANALYSIS

FIGURE 6: KEY BUYING CRITERIA

FIGURE 7: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, GROWTH POTENTIAL, BY TYPE, IN 2022

FIGURE 8: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY GREASES & ADHESIVES, 2023-2032 (IN $ MILLION)

FIGURE 9: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY THERMAL PADS, 2023-2032 (IN $ MILLION)

FIGURE 10: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY TAPES & FILMS, 2023-2032 (IN $ MILLION)

FIGURE 11: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY PHASE CHANGE MATERIALS, 2023-2032 (IN $ MILLION)

FIGURE 12: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY METAL-BASED THERMAL INTERFACE MATERIALS, 2023-2032 (IN $ MILLION)

FIGURE 13: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY OTHER TYPES, 2023-2032 (IN $ MILLION)

FIGURE 14: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2022

FIGURE 15: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY AUTOMOTIVE ELECTRONICS, 2023-2032 (IN $ MILLION)

FIGURE 16: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY COMPUTERS, 2023-2032 (IN $ MILLION)

FIGURE 17: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY TELECOM, 2023-2032 (IN $ MILLION)

FIGURE 18: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY CONSUMER DURABLES, 2023-2032 (IN $ MILLION)

FIGURE 19: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY MEDICAL DEVICES, 2023-2032 (IN $ MILLION)

FIGURE 20: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY INDUSTRIAL MACHINERY, 2023-2032 (IN $ MILLION)

FIGURE 21: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, BY OTHER APPLICATIONS, 2023-2032 (IN $ MILLION)

FIGURE 22: ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, COUNTRY OUTLOOK, 2022 & 2032 (IN %)

FIGURE 23: CHINA THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 24: JAPAN THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 25: INDIA THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 26: SOUTH KOREA THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 27: INDONESIA THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 28: THAILAND THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 29: MALAYSIA THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 30: PHILIPPINES THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 31: SINGAPORE THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 32: VIETNAM THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 33: AUSTRALIA & NEW ZEALAND THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

FIGURE 34: REST OF ASIA-PACIFIC THERMAL INTERFACE MATERIALS MARKET, 2023-2032 (IN $ MILLION)

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