Thermal Management Solutions Market to reach USD 7.0 billion in 2030, at a CAGR of 6.8% | IMR

The Thermal Management Solutions Market was valued at USD 4.5 billion in 2023-e, and is projected to grow at a CAGR of 6.8% through 2030 to reach USD 7.0 billion. Thermal interface materials improve heat transfer, and advanced technologies such as jet impingement, cold plates, vapor chambers, and cool chips dissipate heat effectively, enabling optimal temperatures for electronic components. These solutions are compact and lightweight, customizable for efficient cooling that reduces the need for active cooling and promotes energy efficiency. They are useful for high-performance computing, data centers, electric vehicles, and other applications where managing heat from advanced electronics is critical.

Aqueous solutions are environmentally friendly and cost-effective compared to non-aqueous alternatives. They are compatible with a wide range of materials and have a high specific heat capacity, making them beneficial for heat transfer and thermal storage. They are non-flammable, easier to handle and dispose of, and less likely to contaminate the environment. Water-based solutions are commonly used in HVAC systems and liquid cooling systems for electronic components.

Silicon polymer has high thermal conductivity, effectively transferring and dissipating heat. It is soft, flexible, and electrically insulating, suitable for applications that require thermal management and electrical isolation. Silicon polymers withstand a wide temperature range, are resistant to chemicals and environmental factors. They are easily applicable in various forms, enhancing heat transfer and contributing to the overall thermal performance of electronic devices. Silicon polymers are resilient and durable, complying with regulatory standards and safety requirements. They are prevalent in various industries where efficient heat dissipation and thermal control are paramount.

Europe is expected to experience significant growth in the usage of thermal management solutions in electronic devices due to its adherence to strict EU regulations and directives. The region's population is becoming increasingly aware of environmental concerns, which is predicted to drive the adoption of eco-friendly heat management solutions across various applications. The presence of advanced electronic designing and R&D facilities, particularly in countries such as Germany and the UK, is expected to further encourage the adoption of these technologies.

The industry is fragmented with presence of several small players with no single player holding a substantial market share. In December 2021, Parker Hannifin Corporation's Chomerics division launched its new generation of thermal gap filler pads, THERM-A-GAPTM PAD 30 and 60. These pads are designed to be used in all heat transfer applications between electronic components and heat sinks. Key players operating in the market are Advent International, Chevron, Clariant, Dow, Eastman Chemicals, ExxonMobil, Hexcel, Huntsman, Lanxess, 3M, Momentive Performance Materials, Parker Hannifin, Shell, Shin-Etsu Chemical, and Wacker.