Thermal Fillers Market Expected to Reach USD 1,707.5 Million by 2031

According to a recent market study published by Growth Market Report, titled, Global Thermal Fillers Market by Purity (Below 98%, 98% to 99%, Above 99%), by Form (Powder, Paste/Gel, Sheet/Pad), by Materials (Metal-Based Fillers, Ceramic-Based Fillers, Carbon-Based Fillers, Others), by End-Use Industry (Electronics & Electrical, Automotive, Aerospace & Defense, Energy and Power, Others), and Region (North America, Asia Pacific, Europe, Latin America, and Middle East & Africa): Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 858.2 Million in 2022 and is expected to grow at a growth rate of 8.1% by the year 2031.

As per Growth Market Report industry analyst Anupama Kumari, the “Global Thermal Fillers Market is anticipated to witness significant growth during the forecast period 2023-2031. Rising automation and digitalization in the automotive manufacturing industry are expected to provide growth opportunities for the market.

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The thermal fillers market is expected to expand, due to high annual production of electric vehicles and rising demand for thermal fillers in electric vehicles. Thermal fillers are used in consumer electronic products such as mobile phones, laptops, computers, tablets, and others. Thermal fillers are frequently used to improve sustainability, performance, functionality, quality, and environmental qualities in consumer electronics. These materials help to extend the overall lifespan of consumer electronics. Furthermore, the increasing demand for thermal conductivity in high-end electronic goods is expected to support the market growth throughout the forecast period.

Thermal fillers are widely used in electrical and electronic components, owing to their excellent thermal properties. Various governments across the globe are focusing on the incorporation of thermal management in the manufacture of electronic components, thus driving the demand for thermal fillers.

The primary and secondary research methodology is used for keen observation and study of thermal fillers. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews were conducted with the stakeholders across industry verticals at regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, and current and future trends done by the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess experience of around 10-20 years in the industry. On the other hand, the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases were analyzed for macro & microanalysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus to the online supply of consumer electronic gadgets and automotive components and creating manufacturing issues.

In January, the WHO labeled the COVID-19 outbreak as a public health emergency of global concern and proclaimed it a global pandemic in March 2020. This deadly virus has become one of the biggest pandemics in human history. The COVID-19 outbreak is a public health emergency that affected almost every industry. The long-term effects of the pandemic are expected to affect the growth of various industries during the forecast period, especially across Eastern Europe, European Union, the US, and Eastern & Central Asia.

As of February 13, 2023, this pandemic had infected over 678,724,789 people, and over 6,791,202 people died from the disease. COVID-19 cases have been registered in more than 231 countries and territories. Many countries are economically weak, while others have poor healthcare systems that affect the economy and life of people.

Key Takeaways from the Study:

• The players include 3M, Boyd, Dow, Henkel Corporation, Honeywell, J.M. Huber Corporation, Momentive, Parker Hannifin Corporation, Resonac Corporation, Shin-Etu Chemical Co., Ltd., Saint-Gobain and Wacker Chemie AG.

Report Scope:

Target Audience:

• Supply-side: Raw material suppliers and Manufactures  

• Demand Side: Thermal Fillers manufacturing companies

• Regulatory Side: Concerned government authorities, and other regulatory bodies.