With the emergence and long-term Impact of COVID-19, the Global Thermal Conductive Polymer Material Market is to reach USD 365.11 Million by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Thermal Conductive Polymer Material Market is poised to raise up to USD 365.11 Million by 2030. Thermal conductive polymer materials, also known as thermally conductive polymers or thermal interface materials (TIMs), are a type of material that exhibits both thermal insulation and thermal conductivity properties. These materials are specifically designed to enhance thermal management and heat dissipation in electronic devices, power modules, and other applications where efficient heat transfer is crucial. The Thermal Conductive Polymer Material Market is expanding because of factors such as the rising demand for lightweight and cost-effective materials, increasing demand for efficient thermal management, and surging applications in emerging industries.
In addition, the increasing demand due to the expanding electric vehicle industry is acting as a catalyzing factor for market growth across the globe. The growing adoption of electric vehicles (EVs) and hybrid electric vehicles (HEVs) requires effective thermal management solutions to dissipate heat generated by high-power batteries, electric motors, and power electronics. Thermal conductive polymer materials are used to enhance thermal performance and reliability of EV components, thereby supporting the expansion of the electric vehicle market. According to International Energy Agency (IEA), in 2020, the number of electric vehicles sold in the United States was 295,7000 and the number increased significantly and reached 631,000 in 2021.
As a result, the rising demand for EVs is anticipated to propel the market growth. Thus, these aforementioned factors are propelling the growth of the Thermal Conductive Polymer Material Market during the estimated period. Moreover, the growing focus on emphasis on energy efficiency and sustainability, as well as the growth of electronic and electrical industries present various lucrative opportunities over the forecast years. However, the lack of thermal properties and processing difficulties due to the moldability and flowability of thermal conductive polymer materials are challenging the market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Thermal Conductive Polymer Material Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the high adoption rate of thermally conductive polymers, growing focus on research & development activities, and presence of leading manufacturerssuch as RTP Company, Avient Corporation (PolyOne Corporation), and DuPont. Whereas, Asia Pacific is expected to grow at the highest CAGR over the forecast years. The rapid industrial expansion, growing charging infrastructure, and flourishing growth of the electronics industry are significantly propelling the market demand across the region.
The global Thermal Conductive Polymer Material Market is highly competitive owing to the presence of several key manufacturers such as SABIC (Saudi Arabia), RTP Company (U.S.), Avient Corporation (U.S.), Celanese Corporation (U.S.), Covestro AG (Germany), DSM (Netherlands), MITSUBISHI ENGINEERING-PLASTICS CORPORATION (Japan), HELLA GmbH & Co. KGaA (Germany), and others.
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Key findings of the study suggest:
- Global Thermal Conductive Polymer Material Market is anticipated to grow with a healthy growth rate of more than 12.8% over the forecast period 2023-2030.
- In the application segment, Electrical & Electronics emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to high adoption rate of thermally conductive polymers.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
By Type:
- Polyamide
- Polybutylene Terephthalate
- Polycarbonate
- Polyphenylene Sulfide
- Polyetherimide
- Others
By Application:
- Electrical & Electronics
- Industrial
- Automotive
- Healthcare
- Aerospace
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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