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Semiconductor and Electronics Thermal Management Market

Thermal management market is projected to grow at a CAGR 6.49% rate during the forecast period. Major factors driving the market includes rising demand for effective thermal management solutions and systems in consumer electronics; increasing use of electronic devices in different end-use industries; and ongoing radical miniaturization of electronic devices.Non-adhesive thermal management material is expected to hold the largest share. Non-adhesive materials such as thermal pads, gap fillers, and grease are used widely in consumer electronics such as computers, laptops, and other handheld devices such as tablets. Thermal pads are used to fill the gaps between heat sinks and microprocessors. They eliminate air gaps to reduce thermal resistance and provide low-stress vibration dampening.


Convection cooling devices expected to hold the largest market share. These devices of in thermal management are increasingly being used in electronic components, electronic circuits, and PCBs. These devices help lower the peak temperature of different systems where they are installed with natural and forced convection cooling technologies. Devices such as loop heat pipes, heat pumps, heat sinks, and heat spreaders are used for effective cooling of processors and computers, among others.


Consumer electronics is expected to hold the largest market share. Thermal management solutions are used prominently in several consumer electronics such as personal computers, laptops, smartphones, and gaming devices. Thermal management in consumer electronics involves chip cooling to protect electronic components such as processors and transistors from overheating. For multi-core processors, the noise can be avoided by using large heat sinks, heat pipes, and cooling fans.


Asia Pacific region has emerged as a global focal point for large investments and business expansion opportunities.Increasing demand for effective thermal management solutions and systems from consumer electronics, automotive, defense, and healthcare sectors is also fueling the growth of the market in APAC.


Key players in the market include Honeywell International Inc. (US), Aavid Thermalloy LLC. (US), Vertiv Co. (US), European Thermodynamics Ltd. (UK), and Master Bond Inc. (US), Advanced Cooling Technologies, Inc. (US), Dau Thermal Solutions Inc. (US), Amerasia International Technology Inc. (US), Heatex AB (Sweden), and Parker Chomerics (US).


Key Questions Addressed by the Report

  • Where will all these developments take the industry in the mid- to long-term?
  • What are the upcoming industries for thermal management applications?
  • Who are the important players in the market?
  • What are the upcoming products and technologies in the market?
  • What are the major drivers, restraints, opportunities, and challenges for the thermal management market?


  1. Introduction
  2. Market Definition
  3. Study Scope
  4. Study Period
  5. Market Stakeholders
  6. Research Methodology
  7. Secondary Research
  8. Primary Research
  9. Research Design
  10. Data Validation
  11. Limitations and Assumptions
  12. Market Dynamics
  13. Drivers
  14. Rising Demand for Effective Thermal Management Solutions and Systems in Consumer Electronics
  15. Increasing use of Electronic Devices in Different End-Use Industries
  16. Ongoing Radical Miniaturization of Electronic Devices
  17. Challenges
  18. Design Complexities of Components Used in Cooling Systems
  19. High Development Costs of Customized Thermal Management Solutions and Systems
  20. Opportunities
  21. Technological Advancements Such as the Development of Synthetic Cooling Systems and Interface Materials
  22. Advent of Cool Chips for Thermal Management in Electronic Devices
  23. Increased Demand for Natural Refrigerants
  24. Executive Summary
  25. Thermal Management Market, By Material Type
  26. Adhesive materials
  27. Tapes
  28. Films
  29. Thermally conductive films
  30. Electrically conductive films
  31. Adhesive liquids
  32. Heat cure liquids
  33. Room temperature cure liquids
  34. Non-adhesive materials
  35. Thermal pads
  36. Gap fillers
  37. Phase change materials
  38. grease
  39. Thermal Management Market, By Device
  40. Conduction cooling devices
  41. Wedge locks
  42. Potting materials
  43. Convection cooling devices
  44. Heat sinks
  45. Heat spreaders
  46. Forced air and natural cooling devices
  47. Heat pumps
  48. Advanced cooling devices
  49. Direct immersion cooling
  50. Microchannel cooling
  51. Cold plates
  52. Others
  53. Hybrid cooling devices
  54. Electrowetting devices
  55. Spot coolers
  56. Vapor chambers
  57. Compact heat exchangers
  58. Thermoelectric cooling
  59. Others
  60. Thermal Management Market, By Service
  61. Installation and calibration
  62. Optimization and post-sales support
  63. Thermal Management Market, By End-Use Industry
  64. Consumer electronics
  65. Laptops and computers
  66. Audio amplifier components
  67. Power supply units
  68. Gaming devices
  69. Smartphones
  70. Home appliances
  71. Servers and data centers
  72. Single racks
  73. Multi racks
  74. Automotive
  75. Battery thermal management systems
  76. Engine control thermal management systems
  77. Waste heat recovery and emission reduction systems
  78. Brake and suspension cooling systems
  79. Seat heating and cooling systems
  80. Aerospace and defense
  81. Enterprises
  82. Healthcare
  83. Large infrastructure equipment
  84. Portable equipment
  85. others
  86. Thermal Management Market, By Region
  87. North America
  88. US
  89. Canada
  90. Mexico
  91. Europe
  92. UK
  93. Germany
  94. The Netherlands
  95. France
  96. Italy
  97. Rest of Europe
  98. Asia Pacific
  99. Japan
  100. China
  101. India
  102. South Korea
  103. Rest of APAC
  104. Rest of the World
  105. Company Profiles
  106. Leading Companies in Thermal Management Market
  107. Honeywell
  108. Aavid Thermalloy (Boyd Corporation)
  109. Vertiv
  110. European Thermodynamics
  111. Henkel
  112. Master Bond
  113. Laird
  114. Delta Electronics
  115. Advanced Cooling Technologies, Inc.
  116. Parker (Chomerics Division)
  117. Other Companies in Thermal Management Market


*Company introduction, financial information, recent developments, SWOT analysis



  1. Conclusion and Recommendations
  2. Appendix
  3. About
  4. Related Reports
  5. Glossary



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