The global electronic thermal management material market size was US$ 5,671.1 million in 2021. The global electronic thermal management material market is forecast to grow to US$ 10,152.8 million by 2030 by registering a compound annual growth rate (CAGR) of 8.8% during the forecast period from 2022 to 2030.
Factors Influencing the Market
Thermal management has gained a vital place in the electronic industry due to its applications in electric packaging and the manufacturing of various products. In addition to that, a growing range of innovations to enable efficient heat dissipation will shape the scope of the overall market.
The increasing adoption of electronic devices is expected to drive the electronic thermal management material market forward. The product also finds applications in the automotive, aerospace, healthcare, and telecommunication industries. Thus, it will prompt the growth of the global electronic thermal management material market during the study period.
The continuously dropping prices of electronics will amplify the market growth during the study period. Furthermore, the growing disposable income of consumers will benefit the electronic thermal management material market. On the contrary, the high price of customized thermal management materials may limit their demand during the analysis period.
COVID-19 Impact Analysis
The wake of the COVID-19 pandemic has affected various markets, which included electronics and automotive. Thus, the electronic thermal management material market witnessed a significant drop in demand from these industries. However, the healthcare industry witnessed an abrupt boom, which drove the electronic thermal management material forward. In addition to that, the wake of the pandemic forced the governments to increase the healthcare expenditure. Thus, it has been beneficial for the electronic thermal management material market.
Regional Analysis
The Asia-Pacific electronic thermal management material market is forecast to emerge as the largest market due to growing production capacity in China, Japan, and India. Furthermore, the rapidly growing population in the region will also contribute to the growth of the electronic thermal management material market.
Followed by Asia-Pacific, North America is forecast to emerge as the second-largest market. It is due to growing investments in technological solutions. In addition, the adoption of thermal management technologies and low operational costs will drive the market forward. The region is also home to some of the prominent industry players, such as Boyd Corporation, Laird Technologies Inc., Applied Diamond Inc., etc., which will drive the market forward. In addition, the growing demand for consumer electronics and the highly efficient healthcare infrastructure of the region will escalate the growth of the electronic thermal management material market during the forecast period.
Competitors in the Market
Market Segmentation
The global electronic thermal management material market segmentation focuses on Product, End-Users, and Region.
By Product Outlook
By End-Users Outlook
By Regional Outlook
