- It is anticipated to register a CAGR of 8.9 per cent from 2021 – 2028
- The report added that based on type, conductive paste dominated the market and is expected to grow as the largest revenue-generating segment product during the forecast period
The electronic thermal management material market size is expected to reach $10.04 billion by 2028 according to a new study conducted by Polaris Market Research. It is anticipated to register a CAGR of 8.9 per cent from 2021 – 2028.
It said that the growing demand for effective thermal management solutions for extensive use in consumer electronics is among the key factors driving the market growth. Technological advancements in synthetic cooling systems and the ongoing radical miniaturization of electronics are projected to augment the market progress over the forecast period. The rising demand for advanced heat dissipation solutions across different industry verticals is anticipated to further boost the market growth.
The report added that based on type, conductive paste dominated the market and is expected to grow as the largest revenue-generating segment product during the forecast period. These types of pastes help in reducing the dependency on clips and screws that are mostly used in electronic devices. The manufacturers of consumer electronics are constantly working on the solution to reduce the weight of their products, therefore, increased the use of conductive pastes.
Increasing use of electronic thermal management material in the consumer electronics sector
The report added, “By end-use, consumer electronics emerged as the major revenue-generating segment and is expected to witness the fastest growth rate over the forecast period. The increasing use of electronic thermal management material in the consumer electronics sector is the major factor behind the substantial growth of this segment. Growing requirement for effective thermal management from electronic devices to LED lighting fueling the segment’s growth.”
Electronic thermal management material in the Asia Pacific region has gained huge traction in recent times. The presence of key electronics manufacturers in this region is a major factor behind the rapid development of the market. Favouring government schemes, especially in India such as Digital India has boosted electronic manufacturing, which in turn pushing the demand for thermal management materials.
Europe followed by North America is expected to grow as the fastest revenue-generating region. The presence of an established manufacturing infrastructure along with a rise in demand for electronics is projected to contribute to the market growth in these regions.
