Thermal Interface Materials Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Thermal Interface Materials Industry Hit Worst due to Russia-Ukraine War Impact?
According to research study by Fortune Business Insights™ the global thermal interface materials market size 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,
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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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Thermal Interface Materials Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Thermal Interface Materials Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
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.
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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.
Report Aim & Scope:
- An overview of the market based on geographical scope, segmentation and financial performance of key players is presented in the report.
- The report presents the estimated market size by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- The report presents current trends in the industry and future scope of the market in North America, Asia Pacific, Europe, Latin America and Europe.
- The various parameters accelerating the growth of the market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the market during the forecast period.
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.
Key information from the Research Report:
- Extensive information on factors estimated to affect the market growth and share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects of market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
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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