Cooling Paste Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Tapes & Films, Gap Fillers, Phase Change Materials, Greases & Adhesives, Metal-Based Thermal Interface Materials, Others), By Application (Industrial Machinery, Medical Devices, Automotive Electronics, Telecom Devices, Personal Computers, Others), And By Geography - Forecasts From 2021 To 2026

The cooling paste market is expected to grow at a compound annual growth rate of 6.93% over the forecast period to reach a market size of US$577.312 million in 2026 from US$361.171 million in 2019.

The growth of electronics, automotive, and telecommunication industries is expected to increase the demand for cooling paste for various applications in this industry which is expected to enhance the growth of the global cooling paste market during the forecasted period.

Some electronic components and devices generate significant amounts of heat during their operation, in that case, intervention in the form of thermal management is required to increase the reliability of the product. Due to the high complexity of consumer electronics, manufacturers have started to protect sensitive components from heat damage to ensure adequate user safety which is expected to increase the growth of the cooling paste market.

Market Drivers

Growing demand for consumer electronics

With the growing consumer electronics market, the demand for cooling paste is also increasing. In response to the growing competition levels in the industry and fast-paced technological developments consumer electronics manufacturers increasingly adopt innovative and strategic business models which augmented the growth of the cooling paste market. The emerging advanced technology such as virtual reality, IoT, and robotics in the consumer electronics industry is expected to increase the demand for thermal management products for the hardware which in turn, increase the growth of the cooling paste market.

The increasing adoption of digital transformation across industries with high penetration of digitalization caused by pandemics has skewed the demand and supply for consumer electronics owing to which the demand for cooling paste has also increased for thermal management to avoid heat damage to the products.

In the Asia-Pacific, India’s growth in the electronics industry has been rapidly increasing from the last few years. It is playing a vital role in the development of the country by contributing to the growth of the economy and creating massive employment opportunities.

Recent News & Developments:

Intel has plans to build two new leading-edge computer chip factories in Europe with plans for future investments that could reach billions over the next decade. Intel’s factories will help Europe to grow its broader chip design ecosystem. Intel Foundry Services will work with European companies to help them make their own chips, providing access to resources and design teams based in Europe who can help them bring their innovative designs to life.

The Indian government is making efforts to transform the country into a cashless economy. Government initiatives such as referral bonus schemes to promote the use of BHIM, and zero service tax on railway tickets that are booked online are aimed at promoting digital payments across the country. Many investments have been made in Electronics and IT sectors in India. The Government of India has initiated various policies and initiatives to scale up domestic production of electronic products such as Vocal for local and Atmanirbhar Bharat.

Covid-19 Impact

Covid-19 had a huge impact on sales of consumer electronics but some categories like computers and peripherals have benefited, as consumers are working from home. Work from home/ remote working because of the pandemic has opened a huge opportunity for the consumer electronics industry. The demand for PCS, router, and inverters has increased in the last two years and the products which were majorly impacted in the early months of a pandemic is expected to start growing.

Competitive Insights

The increasing demand for Cooling Paste has led to the entry of several new players in the Cooling Paste market. Now, to increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which is expected to keep the market competitive and constantly evolving. Major market players like 3M, BOYD Corporation, and Laird among others have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years.

Segmentation:

• By Type
  • Tapes & Films
  • Gap Fillers
  • Phase Change Materials
  • Greases & Adhesives
  • Metal-Based Thermal Interface Materials
  • Others
• By Application
  • Industrial Machinery
  • Medical Devices
  • Automotive Electronics
  • Telecom Devices
  • Personal Computers
  • Others
• By Geography
  • North America
    • USA
    • Canadá
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Thailand
    • Taiwan
    • Indonesia
    • Others