Cooling Paste Market - Forecasts from 2018 to 2023
The cooling paste market or thermally conductive grease market was valued at US$319.810 million in 2017 and is expected to grow at a CAGR of 6.50% to reach US$466.570 million in 2023. Processors, now days have higher speed and exhibit superior performances than their predecessors, owing to their capabilities to handle numerous heavy resource demanding applications simultaneously. The processors tend to generate a huge amount of heat during processing of data, particularly when data is complex and propel the processor to dedicate more resources than required to the task. The dissemination of good amount of heat remains a major issue for both end users and CPU manufacturers. Hence, the CPU should get adequate coolness so that its efficiency does not get affected and issues such as irregular resets, freezing problems or burning of the processor do not arise. Therefore, in such situations, cooling pastes are used to lower down the temperature of the processor.
The major factor accelerating the global cooling paste market is rapid digitalization across the globe. Digitization has led to an increase in the number of computers which, in turn, is spurring up the need for processors while augmenting the cooling paste market growth. Moreover, the easily affordable and high-performance feature of cooling paste further enhances its demand. In addition, the continuous innovation owing to highly competitive market due to the presence of various players is propelling the market growth. Factors like the increasing need for miniaturization of electronic devices and the expansion of end-use industries such as electronics and increasing research and development activities further impact the global market of cooling paste significantly.
Geographically, Asia Pacific region is expected to drive the global cooling paste market due to the escalating demand from end use industries such as telecommunications and electronics. Moreover, rapid urbanization and continuous technological advancement and adoption in developing countries, like China, India, and Taiwan are further expected to boost the cooling paste demand over the forecast period.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top-down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the value chain of cooling paste market. The last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Thirdly, Cooling Paste Market has been segmented on the basis of type, application and geography as follows
Tapes & Films
Phase Change Materials
Greases & Adhesives
Metal-Based Thermal Interface Materials
Europe Middle East and Africa
Middle East and Africa
Parker Hannifin Corp
Henkel AG & Co. KGaA
Henkel Electronics Materials, LLC