According to a recent study by Fact.MR, demand for liquid thermal interface materials is estimated to grow at 4.5% in 2019 over 2018. Gains are likely to be driven by development of novel liquid thermal interface materials and their widespread adoption in electrical and automotive industries.
According to the study, as adoption of artificial intelligence and machine learning technology grows, the demand for high-performance computing solutions is on the rise. With consumers increasingly preferring compact high-processing laptops and PCs, integrated circuit manufacturers are focusing on the production of high-density circuits with smaller sizes. Demand for high-performance computing continues to surge with incremental growth in the sales of high-performance gaming laptops and alienware.
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The study finds that liquid thermal interface materials are gaining increasing traction in the market providing microprocessor manufacturers an efficient and lightweight solution for the production of miniature electronic components.
Growing demand for wearable technology such as smartwatches and virtual reality headsets is also likely to fuel the demand for small-sized electronic components which, in turn, is estimated to benefit the liquid thermal interface materials market. Additionally, burgeoning demand for compact high-performance processors in smartphones is further estimated to bolster liquid thermal interface material market growth.
Challenges with Silicone Thermal Management Creating Opportunities
Silicone-based thermal interface materials are the conventional thermal management systems being used in LEDs since their inception. However, recent studies have linked silicone-based thermal interface materials to be a vital cause for the decreased output of LEDs over time. According to the Fact.MR study, manufacturers are making a shift towards other alternatives due to these challenges. These shifts have also been complemented by the rising cost of producing silicone.
The gradual shift to non-silicone-based thermal interface material is likely to open up lucrative opportunities for liquid thermal interface material manufacturers with LEDs finding growing adoption in households and automobile industry owing to its cost-effectiveness and eco-friendly nature. Companies are launching new products to leverage the growing demand for non-silicone based thermal interface material in the LED industry, a recent example being Electrolube’s launch of two non-silicone thermal pastes in Heat Transfer Compound Plus and Heat Transfer Compound.
Additionally, liquid alloys offer promising prospects to explore in the liquid thermal interface material market with the substances offering the superior thermal conductivity of metals while allowing greater control over consistent application on surfaces, unlike liquid metals.
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Europe Remains the Largest Market for Liquid Thermal Interface Materials
According to Fact.MR’s research, Europe is expected to remain at the forefront of liquid thermal interface material market growth. Burgeoning investments in the electric vehicle market, coupled with numerous initiatives popularizing the adoption of the eco-friendly alternatives are likely to present lucrative opportunities for liquid thermal interface material manufacturers with thermal management occupying the primal focus of electric vehicle battery manufacturers.
Numerous companies are expanding their production facilities or setting up new manufacturing sites to capitalize on the growing demand for thermal interface materials in Europe. For instance, Sekisui Chemicals Ltd., a leading manufacturer of thermal interface material, announced it would be setting up a production facility in the Netherlands specifically to meet the burgeoning demand for thermal interface material in the electronic vehicle industry in Europe. Due to these factors, Europe is estimated to account for the production of more than 20% of liquid thermal interface materials in 2019.
The Fact.MR report tracks the liquid thermal interface materials market for the period 2018-2028. According to the report, the liquid thermal interface materials market is projected to grow at 5.2% CAGR through 2028.
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