Medical, Office Equipment Sectors Spur Growth in Global Markets for Thermal Interface Materials, According to BCC Research
(PRWEB) July 23, 2015 -- Wellesley, Mass., July 23, 2015 – Tremendous progress, both technologically and in terms of demand, has been made in electronic devices and systems. The technological progress has come on two main fronts: increased functionality on a single-device unit and miniaturization of each unit. BCC Research reveals in its new report that both of these developments have increased the need for thermal management technologies, including thermal interface materials (TIM).
The global market for thermal interface materials is expected to reach $764 million and $1.1 billion in 2015 and 2020, respectively. This market is forecasted to grow at a five-year compound annual growth rate (CAGR) of 7.4%. Computers were the largest end-use segment for thermal interface materials in 2014, with global sales of almost $228 million. Telecommunications equipment was the second-largest segment, followed by industrial and military equipment and renewable energy.
Thermal interface materials are products that stand between a heat sink and the device to be cooled. Their function is to improve the thermal transfer in the joint between the heat sink and the device to be cooled by increasing or securing the area of contact between the two surfaces. In some cases, the interface actually performs the job of the heat sink.
The market for medical and office electronics thermal solutions is growing faster than equipment sales alone would indicate. The disparity in growth rates is attributable to the fact that the medical equipment industry is making more intensive use of thermal technology as it increases its use of semiconductors.
“In 2014, about 40% of the medical equipment sold in the market incorporated semiconductor,” says BCC research analyst Andrew McWilliams. “By 2020, BCC Research anticipates that semiconductor-enabled medical devices will maintain more than 50% of the market, with a proportional increase in thermal management requirements. Medical lasers comprise another potential growth market for thermal management technology.”
Thermal Interface Materials: Technologies, Applications and Global Markets (SMC071C) analyzes the global market for thermal interface materials, with trends, data reports and projections of CAGRs through 2020. The report also identifies TIM technologies and products with the greatest commercial potential and the companies positioned to realize them.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven(dot)cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern time), or email information(at)bccresearch(dot)com.
Steven Cumming, BCC Research, http://www.bccresearch.com, +1 (781) 489-7301 Ext: 632, [email protected]
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