Advanced Thermal Management Materials Market Forecasts to 2030 - Global Analysis By Type (Thermal Gasket, Thermal Gel, Thermal Resin, Graphite and Other Types), Material Type, Device Type, End User and by Geography

According to Stratistics MRC, the Global Advanced Thermal Management Materials Market is accounted for $5.01 billion in 2024 and is expected to reach $7.90 billion by 2030 growing at a CAGR of 7.9% during the forecast period. The performance and longevity of electronic devices, aerospace components, and other high-tech systems are greatly enhanced by the use of advanced thermal management materials. It is essential to avoid overheating and maintain reliable operation, which is why these materials are made to efficiently dissipate heat and preserve thermal stability. Moreover, phase change materials (PCMs) that absorb and release heat during phase transitions, advanced composites that combine multiple properties for enhanced thermal management, and high thermal conductivity materials like graphene and aluminium nitride are just a few of the creative solutions they cover.

According to the Thermal Management Materials Association (TMMA), the adoption of advanced thermal management materials is critical for addressing the increasing thermal challenges posed by modern electronic devices and high-performance systems.

Market Dynamics:

Driver:

Growing interest in electronics

Advanced thermal management materials are in high demand due to the electronics industry's rapid expansion and the widespread use of smart phones, tablets, wearable's, and other consumer electronics. These devices produce more heat as they get smaller and more powerful, so in order to properly manage thermal dissipation, advanced materials are required. Additionally, this demand is further fueled by the expanding use of electronics in industries like healthcare, industrial automation, and smart homes.

Restraint:

Exorbitant prices for cutting-edge materials

High-performance composites and new materials like graphene, which are useful for advanced thermal management, are frequently expensive. For smaller manufacturers or those with limited resources, the price of these materials can be a major obstacle. Furthermore, high production and processing costs may prevent them from being widely used, especially in applications or industries where less expensive alternatives may be considered adequate.

Opportunity:

Growing electric vehicle (EV) adoption

Advanced thermal management materials have a great opportunity as the use of electric vehicles increases. To maintain optimal performance and control battery temperatures, electric vehicles (EVs) need advanced thermal management systems. Materials that can effectively manage heat in battery packs, power electronics, and charging systems are in greater demand as the EV market grows. Moreover, companies now have the chance to create and offer specialized thermal management solutions that are suited to the demands of the automotive industry, owing to this growth.

Threat:

Supply chain interruptions

Natural disasters, unstable political environments, or pandemics can all cause disruptions to the global supply chain for advanced thermal management materials. Supply chain disruptions can cause problems meeting customer demands, higher costs, and delays in the availability of materials. Additionally, to reduce these risks, businesses must create strong supply chain strategies and backup plans.

Covid-19 Impact:

The market for advanced thermal management materials was significantly impacted by the COVID-19 pandemic, which at first caused supply chains to break, production to stop, and projects in a number of industries to be delayed. Lockdowns and restrictions around the world impacted material availability and manufacturing capabilities, leading to shortages and higher costs. Market expansion was momentarily restrained by economic uncertainty and lower investments in infrastructure and industrial projects. However, the pandemic also accelerated the adoption of digital technologies and remote work as industries adjusted to the new normal.

The Graphite segment is expected to be the largest during the forecast period

The market for advanced thermal management materials is expected to be dominated by the graphite segment. Because of its exceptional heat conductivity, stability at high temperatures, and adaptability, graphite is used extensively. It is used in many different applications where effective heat dissipation is essential, such as electronics, automotive parts, and aerospace systems. Moreover, high-performance thermal management solutions favor this material because of its effective heat conductivity, light weight, and resistance to thermal degradation. Its dominating position in the market is a result of its widespread use in cooling systems, heat spreaders, and thermal interface materials.

The Phase Change Materials (PCMs) segment is expected to have the highest CAGR during the forecast period

In the advanced thermal management materials market, the Phase Change Materials (PCMs) segment is projected to have the highest CAGR. Due to PCMs' exceptional capacity to absorb and release heat during phase transitions, which improves thermal stability and helps control temperature in a variety of applications, their use is growing. In industries where temperature control is crucial, such as electronics, automotive, and building materials, this quality is especially beneficial. Additionally, the adoption of PCMs in these industries is driven by the growing demand for more energy-efficient solutions and improved thermal management.

Region with largest share:

The market for advanced thermal management materials is dominated by North America. The region's stronghold in the electronics and technology sectors, large investments in the automotive and aerospace industries, and strong emphasis on research and development are the main causes of its dominance. Furthermore, North America holds a prominent position in the global market due to the region's leading technological advancements and manufacturing capabilities, as well as the high demand for advanced thermal solutions in consumer electronics, electric vehicles, and high-performance computing.

Region with highest CAGR:

The advanced thermal management materials market is expected to grow at the highest CAGR in the Europe region, albeit less sharply than in the Asia-Pacific region. The region gains from having robust industries like aerospace and automotive, where performance and efficiency depend on cutting-edge thermal management solutions. Innovative thermal management materials are in high demand due to Europe's commitment to sustainability and energy efficiency. Moreover, the region focuses on integrating advanced technologies to meet strict environmental and performance standards.

Key players in the market

Some of the key players in Advanced Thermal Management Materials market include DuPont, NeoGraf, Jones Tech PLC, 3M, Saint-Gobain, Henkel, Suzhou Kanglida Precision Electronics Co., Ltd, Fujipoly Sarcon, Shanghai Allied Industrial Co., Ltd, Parker and Kerafol.

Key Developments:

In July 2024, DuPont has signed an agreement to acquire Donatelle Plastics Inc., a leading medical device contract manufacturer specializing in the design, development and manufacture of medical components and devices. The transaction is expected to close in the third quarter 2024, subject to satisfaction of customary closing conditions and receipt of regulatory approvals.

In March 2024, 3M and HD Hyundai Korea Shipbuilding & Marine Engineering (KSOE) have signed a joint research project agreement to develop large liquid hydrogen storage tanks using Glass Bubbles from 3M - a high-strength, low-density hollow glass microsphere. The collaborative research will focus on developing a high-performance vacuum insulation system for liquified hydrogen storage and transportation.

In February 2024, Saint-Gobain has announced that it has entered into a definitive agreement with CSR Limited to acquire all of the outstanding shares of CSR by way of an Australian scheme of arrangement for AUS$9.00 per share, in cash, corresponding to an enterprise value of AUS$4.5 billion and a net enterprise value of AUS$3.2 billion post short to mid-term monetisable property value of at least AUS$1.3 billion.

Types Covered:

• Thermal Gasket
• Thermal Gel
• Thermal Resin
• Graphite
• Other Types

Material Types Covered:

• Thermal Interface Materials (TIMs)
• Phase Change Materials (PCMs)
• Thermal Conductive Materials
• Thermal Insulating Materials
• Other Material Types

Device Types Covered:

• Conduction Cooling Devices
• Convection Cooling Devices
• Advanced Cooling Devices
• Other Device Types

End Users Covered:

• Consumer Electronics
• Automotive
• Data Centres
• Aerospace
• Industrial
• Healthcare
• Telecom/Datacom
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances