Global Market Insights, Inc. has launched a report on electronic thermal management materials market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Global electronic thermal management materials market is poised to amass commendable returns over the ensuing years owing to the increasing demand for consumer electronics as well as the growing reduction in electronic device size. Electronic thermal management materials are extensively used in electrical assemblies for heat dissipation. These materials aid in controlling the heat emitted within the electronic assembly as well as help with proper heat conduction.
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The emergence of nanotechnology has generated extensive demand for electronic thermal management techniques in the consumer electronics industry. Shrinking down devices is gaining popularity, as smaller devices tend to consume less power and are often reasonably priced and simpler to use. Owing to steady growth in consumer’s disposable income, such devices are slated to witness higher consumption in the future, thereby influencing electronic thermal management materials industry trends over the forecast years.
The demand for consumer electronics has continued to grow, owing to the revolution of smart devices equipped with premium features. The demand for consumer electronics across the world is driven by major trends such as the rising demand for premium devices and reduction in prices. Due to an outburst in working women population, there has been a rise in dual-income within families. This trend has resulted in higher disposable income, which further stimulates the purchase of electronic products, thereby augmenting electronic thermal management materials market share.
Manufacturers of electronic thermal management products are bound to witness strong opportunities in the semi-urban and rural parts of developing nations in the coming years. The consumer electronics industry is observing considerable demand from the rural market, primarily due to the growing affordability of products as well as enhancements in the transmission network and electric supply. Construction companies are often awarded contracts to establish distribution networks comprising medium and low voltage distribution lines. Such developments will augment electricity access across rural and semi-urban regions, which is a positive sign for the increase in electronic thermal management materials industry share.
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Rising affordability of digital connectivity has led to massive growth in eCommerce-penetration. Internet connectivity has helped in spreading product awareness and promotions, thereby surging consumer spending on electronics and home appliances, which would also favor electronic thermal management materials market size over the coming years.
In terms of product, thermal pastes are estimated to perform outstandingly over the coming years due to excessive use in CPUs and other electronic devices. For example, Intel recently announced that some of its Core i5-9400F series processors will feature thermal paste-based interface material, but CPUs with a KF suffix will continue to use soldered thermal interface material.
Additionally, the launch of new products will also result in segmental growth. For instance, Austrian firm Noctua recently launched a new thermal compound that depicted up to 2°C lower temperatures. Advancement in computer technology paired with an upsurge in digitization will foster growth in electronic thermal management materials market share over the coming years.
Based on regional growth, the Asia Pacific electronic thermal management materials market is poised to amass maximum returns in the future. This can be attributed to the region’s rising population and its impact on the demand for consumer electronics. Moreover, developing nations within the region are witnessing increasing efforts to improve electrification in their rural and semi-urban parts, thereby boosting product demand in the consumer electronics application.
India is a leading driving region of the Asia Pacific market. The Indian government has been implementing numerous initiatives to achieve 100% electrification nationwide, which could positively influence electronics demand. According to the nation’s 2019 budget, its consumer electronics industry is anticipated to experience double-digit growth rate if proposed tax exemptions on rural and middle-income consumers are successfully achieved. Increasing demand for white goods and digital electronics from India’s changing rural setting will further contribute to growth in the Asia Pacific region.
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Although the product has a wide scope in the consumer electronics application, electronic thermal management products also find excessive use in other end-use applications such as automotive, healthcare, telecom, and aerospace. Products like thermal greases are extensively used in automotive applications, and are anticipated to see immense growth due to the rise in disposable income and the worldwide push for the adoption of electric and hybrid cars. Meanwhile, increasing use of electronic thermal management products in digital and analog switches, routers, transmission switches, and controllers will strengthen market growth in the telecom sector.
According to a research report by Global Market Insights, Inc., electronic thermal management materials market is anticipated to exceed $3.1 billion by 2025.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.