Phase change thermal interface materials Market size is forecast to reach US$1.5 billion by 2026, after growing at a CAGR of 8% during 2021-2026. Globally, the key factors such as the increasing consumer electronics industry, high surface finishing prices, increased functionality of mobile devices and increased demand from the gaming module industry, is driving the market growth. Also, the growing demand for phase change thermal interface materials as non-electrically conductive, electrically conductive, and electrically insulating thermal grease, thermal gel, thermal adhesive, and thermal pad, is further estimated to raise the market growth. Moreover, due to the growing demand for electronic product miniaturization, the rising LED market, and the increasing usage of phase change thermal interface materials in the various end-use industries, is experiencing strong growth which is projected to bring new opportunities to the phase change thermal interface materials industry to expand during the predicted period.
Impact of Covid-19
The market demand for phase change thermal interface materials experienced a huge declination in the year 2020, which lasted for a limited period of time relative to other major industries. Decreasing sales of computers, tablets, video games, and smartphones have gone up as companies are moving towards work from home strategy to work. In the midst of the pandemic, demand for consumer durables has also grown as people remaining at home need individual consumer devices for personal use.
Phase Change Thermal Interface Materials Market Segment Analysis – By Binder Type
The paraffin binder held the largest share in the phase change thermal interface materials market in 2020. Paraffins are considered as the most commonly phase change materials, which are used as binders. Since paraffin is a low-cost, hazardous substance that may be degraded by microbes is widely used as the PCM thermal interface material binder. Furthermore, paraffin has a melting point of 55°C to 65°C making it ideal for phase change thermal interface materials in non-concentrating solar collectors. Thus, with the rising demand for paraffin binders the market for phase change thermal interface materials market is estimated to rise in the forecast period.
Phase Change Thermal Interface Materials Market Segment Analysis – By Application
Microprocessors held the largest share in the phase change thermal interface materials market in 2020. At room temperature, phase change thermal interface materials are solid pads. They soften and flow at temperatures above their transition temperature, filling the tiny imperfections of the components they come into touch with. As a result, the interface has a low thermal contact resistance and can increasingly be used in the microprocessors. Moreover, owing to the alluring characteristics such as stable and reliable performance, and wide range of thicknesses the demand for phase change thermal interface materials in microprocessors is anticipated to increase in the forecast period. Also, owing to the reusable options of phase change thermal interface materials as non-electrically conductive and electrically conductive properties in the microprocessors will lead the market growth over the forecast period.
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Phase Change Thermal Interface Materials Market Segment Analysis – By End Use Industry
The consumer electronics segment held the largest share in the phase change thermal interface materials market in 2020 and is projected to grow at a CAGR of 7.5% during the forecast period 2021-2026. Growing demand for outstanding-performance highly durable consumer electronic devices have led to the demand for phase change thermal interface materials in the consumer electronics sector. Furthermore, phase change thermal interface materials (PCTIMs) are gaining traction in the consumer electronics sector as a result of the necessity to dissipate significant amounts of heat from semiconductor device junctions to the ambient environment. PCTIMs are polymer-based technologies that have been shown to solve crucial heating problems and give long-term dependability. Also, PCTIM has a wide range of applications in consumer electronics since it aids in the smoothing out of temperature variations. Thus, due to the above mentioned factors the demand for phase change thermal interface materials is anticipated to rise over the forecast period.
Phase Change Thermal Interface Materials Market Segment Analysis – By Geography
Asia Pacific held the largest share with 42% in phase change thermal interface materials market in 2020. In recent years, the phase change thermal interface materials method has become the favoured approach for producing processors, and research and development efforts are underway in this field. They are employed in the telecommunication industry because of their great impact energy-absorbing characteristics and low densities. Furthermore, rising growth of the telecommunication sector in the region is anticipated o drive the market growth. For instance, under the Department of Telecom, the Union Cabinet authorized a Rs. 12,195 crore (US$ 1.65 billion) production-linked incentive (PLI) plan for telecom and networking equipment as per the India Brand Equity Foundation. The information and communication technology (ICT) industry in Indonesia has a promising future since the country is beginning from a low base of IT solution adoption and has lots of potential to expand. International Data Corporation Indonesia, a research group, recently forecasted that Indonesia’s ICT expenditures rose 16% to US$ 29.5 billion in 2020 as per the International Trade Administration. Thus, rising investment in the end use industries is further anticipated to raise the growth of the market.
Phase Change Thermal Interface Materials Market Drivers
Increasing Demand for Miniaturization of Electronic Devices
The growing need for shrinking and automation of electronic devices such as mobile phones, touch screens and displays, and medical devices is propelling the expansion of phase change thermal interface materials. As electronics get smaller, the components become more concentrated, causing them to overheat. This raises the heat density on the surface of the electrical equipment. To improve heat dissipation, phase change thermal interface materials are required. Currently, rising investments in the electrical and electronics sector would further uplift the growth of the market. For instance, according to the India Brand Equity Foundation, by the year 2021-22 the Indian government has set a target to get Rs. 18,000 crore (US$ 2.4 billion) investments in the electronics manufacturing segment. Thus, owing to such benefits an increase in demand for phase change thermal interface materials for miniaturization of electronic devices is being witnessed.
Rising Demand for Phase Change Thermal Interface in Automotive Electronics sector
As the thermal interface between heat sinks and heat generating devices phase change materials are designed as an alternative to grease. It is capable of being converted and handled at room temperature, with phase change occurring only at higher application temperatures. Owing to its benefits such as high thermal conductivity, good thermal transfer properties, excellent heat stability, and long life span the demand for phase change thermal interface materials in the automotive electronics segment is anticipated to increase.
Growing demand for phase change thermal interface materials as non-electrically conductive and electrically conductive for battery thermal management of electric vehicles (EVs) is henceforth anticipated to drive the market growth. Thus, as vehicles incorporate more electronic and electrical components, the role of TIMs will become increasingly important. Thus, as vehicles become more electronic and electrically complex, the demand for phase change thermal interface materials is estimated to rise over the forecast period.
Phase Change Thermal Interface Materials Market Challenges
Granule Size and Amount of Phase Change Thermal Interface Materials Applied
The performance of phase change thermal interface materials is determined by a number of criteria, the two most important of which are the granule size and the amount of phase change thermal interface materials used. The better the filling of air pockets, the smaller the granule size of phase change thermal interface materials. Mating surfaces are found to be rough with little projections, which form little air pockets between the mating surfaces when observed closely. The consistent heat transfer from the heat source to the heat sink is hampered by these tiny air pockets. The smaller the granules of phase change thermal interface materials are, the greater the compactness between mating surfaces and the fewer air pockets will be. However, depending on the application, the amount of phase change thermal interface materials to be used for better thermal management varies. Inconsistent flow and substantial energy storage result from the use of less or more phase transition thermal interface materials. Thus, this can also lead to the deterioration of electronic devices. Hence, granule size and amount of phase change thermal interface materials is a challenge in the phase change thermal interface materials market, which can be avoided by the selection of type and amount of phase change thermal interface materials.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the phase change thermal interface materials market. Major players in the phase change thermal interface materials market are Henkel AG & Co. KGaA, 3M Company, Dow Corning Corp., Parker Chomerics, Honeywell International Inc., Enerdyne Thermal Solutions, Indium, Shin-Etsu Chemical, T-Global Technology, Stockwell Elastomerics, Laird Plc., and Aavid Thermalloy among others.
The Asia-Pacific region dominated the phase change thermal interface materials market due to the rising demand for consumer electronics and increasing investments in the telecommunication sector in various emerging economies such as China, India, and South Korea.
Commercial supply of various phase change thermal interface materials in a variety of ways coupled with increasing applications in the electronics industry is expected to increase penetration in the coming years.
Growing number of manufacturers are now innovating the phase change thermal interface material products for the replacement of grease as the interface between power devices and heat sinks, which is expected to fuel the market demand.
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