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The Thermal Conductive Polymer Material Market size was USD 155.7 Million in 2023 and is expected to Reach USD 456.9 Million by 2032 and grow at a CAGR of 12.7% over the forecast period of 2024-2032.
Thermal conductive polymer materials are a blend of polymers and fillers in which the polymers serve as binding agents and are blended with various filler particles such as graphite. Polymers and their derived compounds are increasingly being used as structured materials owing to their diverse functionality such as lightweight, cost-effectiveness, high chemical stability, and versatility.
These materials are determined by their morphology, and chain structure, such as side chains, inter-chain interaction, and bonding. The presence of a polymer with a dominant amorphous character corresponds to low thermal conductivity, which can be enhanced by enhancing polymer chain alignment using techniques such as electrospinning, nanoscale templating, and mechanical stretching. Blending polymers with highly heat-conductive fillers is another approach to producing thermal conductive polymers.
Carbonous, ceramic, and metallic fillers are employed in thermal conductive polymer materials, with metallic fillers including aluminium fibres, copper nanowires/nanoparticles, silver particles, and gold or palladium powders.
Thermally conductive polymer compounds can replace ceramics, metal, and conventional plastics for heat-sensitive applications. They are mostly used in various heat-sink applications such as electronics, housings, or automotive parts. However, due to their limited heat-spreading capabilities, the low thermal conductivity of several other materials limits their usage in flexible electronics.
KEY DRIVERS
Rising applications of the thermally conductive polymer in the electric vehicle industry
The newly developed quick charging method for electric vehicles is built from a polymeric insulated wire with high ampacity and good thermal performance. There has been a significant increase in the production of sophisticated polymer materials with good thermal and electrical properties as their needs are increasing in the industrial sector from electric vehicles and thermal management systems. Hence, thermally conductive polymer product development is expected to bring up a number of market opportunities.
RESTRAIN
Lower thermal conductivity than traditional metals can hamper growth
Thermal-transfer polymers are neither pure plastic nor metal it is a mixture of polymers and fillers. These polymers are heavier due to the filler content, which causes problems while processing these goods. Because there is so much solid, granular filler in this product, it can settle during transportation and storage, necessitating mixing before use. As a result, the market's growth is impeded by a lack of thermal properties.
OPPORTUNITY
Changing trends in the electronics industry can drive market growth
The requirement for materials has been driven by factors such as electronic device miniaturization, spatial constraints, thermal conductivity, and technological innovation. Thermal conductive polymers are challenging conventional materials due to their multiple advantages. Thermal paste is a material composed of thermally conductive polymer materials. Increased output in the electronic industry is expected to boost market expansion.
CHALLENGES
Fluctuating crude oil prices can be a challenge to market growth
Polymer resin pricing is influenced by the volatility of crude oil prices caused by geopolitical uncertainty, production and storage costs, and high energy costs. The raw materials used in manufacturing polymers are derived from fossil fuels, which are subject to commodity fluctuations in prices also, Oil prices remain volatile. As a result, changes in the price of crude oil affect the cost of polymer resins and thermally conductive polymers.
IMPACT OF RUSSIAN UKRAINE WAR
There were already supply chain issues relating to plastic and polymer manufacture before Russia invaded Ukraine. As COVID-19 caused manufacturing shutdowns and truck driver shortages. Then, an ice storm hit Texas, causing power outages for several days, reducing petroleum output, and raising polypropylene and polyethylene shortages and costs. Unfortunately, resin prices, notably thermoplastic polymer prices, are projected to rise. Russia is a big exporter of petroleum, but due to the invasion of Ukraine, most nations have cut their imports and sanctioned Russia.
The longer sanctions against Russia remain in place, and the fewer oil deliveries from Russia we accept, the more likely it is that prices will surge. The good news is that due to our reliance on natural gas and local oil, the United States can readily ramp up polyethylene manufacturing, keeping the price low.
IMPACT OF ONGOING RECESSION
Polymer price increases have considerably contributed to rising inflation and are a cause of concern for the plastic processing industry. Meanwhile, business circumstances are becoming unpredictable, owing to the extended Ukraine conflict, which is driving up energy prices, rising global inflation, US and European monetary tightening, which is hurting the global economy, and severe yen depreciation. India has witnessed an inflationary impact of 56 to 105% increase in the prices of plastic polymers" that the industry has represented to the government for a cut in import duty on the commodity.
By Product
Polyamide
Polycarbonate
Polyphenylene Sulfide
Polybutylene terephthalate (PBT)
Others
By Application
Electrical & electronics
Automotive
Healthcare
Aerospace & Defense
Others
North America dominates the market share of Thermal conductive polymer materials. The market share of Thermal conductive polymers is high due to the high adoption of polymers in the electronics, and vehicles industry, and huge research and development activities are the prime factors that drive the market. Besides major manufacturer RTP Company, Dupont, Avient Corporation is expected to drive growth.
Europe is a well-established automotive electronics market that has a huge demand for Thermal conductive polymer materials in applications including brackets, battery modules, and others boost the demand.
In the Asia Pacific region, rapid industrialization and intense research activities in countries like China, India, South Korea, and Japan boost market growth. booming electronics and electrical industries in developing countries in this region are rising demand for conductive polymer materials.
Latin America has emerging demand due to technological advancements and urbanization. The rising industrial development activities in EVs, pieces of machinery, automobiles, and other applications.
In the Middle East & Africa region demand from UAE, Bahrain, Saudi Arabia, and Kuwait boosts the demand for Thermal conductive polymer materials.
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REGIONAL COVERAGE
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of the Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
KEY PLAYERS
Celanese Corporation, DSM, KANEKA CORPORATION, TORAY INDUSTRIES, INC., SABIC, HELLA GmbH & Co., MERCK KGaA, Saint-Gobain, Arkema, RTP Company, Brenntag GmbH, Covestro AG, BASF SE, Kenner Material & System Co., Ltd. and other key players mentioned in the final report.
RECENT DEVELOPMENTS
X2F- In 2022 X2F solutions provide thermally conductive polymer moulding which improves battery management performance and reliability of electronic devices and reduces device failure due to hotspots.
X2F- In 2022 X2F launched a thermally conductive polycarbonate heat sink that was 49% lighter and less expensive than traditional cast aluminium versions for automotive lighting applications.
| Report Attributes | Details |
| Market Size in 2023 | US$ 155.7 Million |
| Market Size by 2032 | US$ 456.9 Million |
| CAGR | CAGR of 12.7% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By product (Polyamide, Polycarbonate, Polyphenylene Sulfide, Polybutylene terephthalate (PBT) and Others) • By Application (Electrical & electronics, Automotive, Healthcare, Aerospace & Defense, and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Celanese Corporation, DSM, KANEKA CORPORATION, TORAY INDUSTRIES, INC., SABIC, HELLA GmbH & Co., MERCK KGaA, Saint-Gobain, Arkema, RTP Company, Brenntag GmbH, Covestro AG, BASF SE, Kenner Material & System Co., Ltd. |
| Key Drivers | • Rising applications of the thermally conductive polymer in the electric vehicle industry. |
| Market Restraints | • Lower thermal conductivity than traditional metals can hamper growth. |
Ans. The Compound Annual Growth rate for Thermal Conductive Polymer Material Market over the forecast period is 12.7%.
Ans. USD 456.9 million is the projected Thermal Conductive Polymer Material market size of the market by 2032.
Ans. North America is the fastest-growing region of the Thermal Conductive Polymer Material Market.
Ans. USD 155.7 million was the Thermal Conductive Polymer Material market size of the market by 2023.
Ans. Fluctuating crude oil prices can be a challenge to market growth.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Thermal Conductive Polymer Material Market Segmentation, By Product
8.1 Polyamide
8.2 Polycarbonate
8.3 Polyphenylene Sulfide
8.4 Polybutylene terephthalate (PBT)
8.5 Others
9. Thermal Conductive Polymer Material Market Segmentation, By Application
9.1 Electrical & electronics
9.2 Automotive
9.3 Healthcare
9.4 Aerospace & Defense
9.5 Others
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Thermal Conductive Polymer Material Market by Country
10.2.2North America Thermal Conductive Polymer Material Market by Product
10.2.3 North America Thermal Conductive Polymer Material Market by Application
10.2.4 USA
10.2.4.1 USA Thermal Conductive Polymer Material Market by Product
10.2.4.2 USA Thermal Conductive Polymer Material Market by Application
10.2.5 Canada
10.2.5.1 Canada Thermal Conductive Polymer Material Market by Product
10.2.5.2 Canada Thermal Conductive Polymer Material Market by Application
10.2.6 Mexico
10.2.6.1 Mexico Thermal Conductive Polymer Material Market by Product
10.2.6.2 Mexico Thermal Conductive Polymer Material Market by Application
10.3 Europe
10.3.1 Eastern Europe
10.3.1.1 Eastern Europe Thermal Conductive Polymer Material Market by Country
10.3.1.2 Eastern Europe Thermal Conductive Polymer Material Market by Product
10.3.1.3 Eastern Europe Thermal Conductive Polymer Material Market by Application
10.3.1.4 Poland
10.3.1.4.1 Poland Thermal Conductive Polymer Material Market by Product
10.3.1.4.2 Poland Thermal Conductive Polymer Material Market by Application
10.3.1.5 Romania
10.3.1.5.1 Romania Thermal Conductive Polymer Material Market by Product
10.3.1.5.2 Romania Thermal Conductive Polymer Material Market by Application
10.3.1.6 Hungary
10.3.1.6.1 Hungary Thermal Conductive Polymer Material Market by Product
10.3.1.6.2 Hungary Thermal Conductive Polymer Material Market by Application
10.3.1.7 Turkey
10.3.1.7.1 Turkey Thermal Conductive Polymer Material Market by Product
10.3.1.7.2 Turkey Thermal Conductive Polymer Material Market by Application
10.3.1.8 Rest of Eastern Europe
10.3.1.8.1 Rest of Eastern Europe Thermal Conductive Polymer Material Market by Product
10.3.1.8.2 Rest of Eastern Europe Thermal Conductive Polymer Material Market by Application
10.3.2 Western Europe
10.3.2.1 Western Europe Thermal Conductive Polymer Material Market by Country
10.3.2.2 Western Europe Thermal Conductive Polymer Material Market by Product
10.3.2.3 Western Europe Thermal Conductive Polymer Material Market by Application
10.3.2.4 Germany
10.3.2.4.1 Germany Thermal Conductive Polymer Material Market by Product
10.3.2.4.2 Germany Thermal Conductive Polymer Material Market by Application
10.3.2.5 France
10.3.2.5.1 France Thermal Conductive Polymer Material Market by Product
10.3.2.5.2 France Thermal Conductive Polymer Material Market by Application
10.3.2.6 UK
10.3.2.6.1 UK Thermal Conductive Polymer Material Market by Product
10.3.2.6.2 UK Thermal Conductive Polymer Material Market by Application
10.3.2.7 Italy
10.3.2.7.1 Italy Thermal Conductive Polymer Material Market by Product
10.3.2.7.2 Italy Thermal Conductive Polymer Material Market by Application
10.3.2.8 Spain
10.3.2.8.1 Spain Thermal Conductive Polymer Material Market by Product
10.3.2.8.2 Spain Thermal Conductive Polymer Material Market by Application
10.3.2.9 Netherlands
10.3.2.9.1 Netherlands Thermal Conductive Polymer Material Market by Product
10.3.2.9.2 Netherlands Thermal Conductive Polymer Material Market by Application
10.3.2.10 Switzerland
10.3.2.10.1 Switzerland Thermal Conductive Polymer Material Market by Product
10.3.2.10.2 Switzerland Thermal Conductive Polymer Material Market by Application
10.3.2.11 Austria
10.3.2.11.1 Austria Thermal Conductive Polymer Material Market by Product
10.3.2.11.2 Austria Thermal Conductive Polymer Material Market by Application
10.3.2.12 Rest of Western Europe
10.3.2.12.1 Rest of Western Europe Thermal Conductive Polymer Material Market by Product
10.3.2.12.2 Rest of Western Europe Thermal Conductive Polymer Material Market by Application
10.4 Asia-Pacific
10.4.1 Asia Pacific Thermal Conductive Polymer Material Market by Country
10.4.2 Asia Pacific Thermal Conductive Polymer Material Market by Product
10.4.3 Asia Pacific Thermal Conductive Polymer Material Market by Application
10.4.4 China
10.4.4.1 China Thermal Conductive Polymer Material Market by Product
10.4.4.2 China Thermal Conductive Polymer Material Market by Application
10.4.5 India
10.4.5.1 India Thermal Conductive Polymer Material Market by Product
10.4.5.2 India Thermal Conductive Polymer Material Market by Application
10.4.6 Japan
10.4.6.1 Japan Thermal Conductive Polymer Material Market by Product
10.4.6.2 Japan Thermal Conductive Polymer Material Market by Application
10.4.7 South Korea
10.4.7.1 South Korea Thermal Conductive Polymer Material Market by Product
10.4.7.2 South Korea Thermal Conductive Polymer Material Market by Application
10.4.8 Vietnam
10.4.8.1 Vietnam Thermal Conductive Polymer Material Market by Product
10.4.8.2 Vietnam Thermal Conductive Polymer Material Market by Application
10.4.9 Singapore
10.4.9.1 Singapore Thermal Conductive Polymer Material Market by Product
10.4.9.2 Singapore Thermal Conductive Polymer Material Market by Application
10.4.10 Australia
10.4.10.1 Australia Thermal Conductive Polymer Material Market by Product
10.4.10.2 Australia Thermal Conductive Polymer Material Market by Application
10.4.11 Rest of Asia-Pacific
10.4.11.1 Rest of Asia-Pacific Thermal Conductive Polymer Material Market by Product
10.4.11.2 Rest of Asia-Pacific APAC Thermal Conductive Polymer Material Market by Application
10.5 Middle East & Africa
10.5.1 Middle East
10.5.1.1 Middle East Thermal Conductive Polymer Material Market by Country
10.5.1.2 Middle East Thermal Conductive Polymer Material Market by Product
10.5.1.3 Middle East Thermal Conductive Polymer Material Market by Application
10.5.1.4 UAE
10.5.1.4.1 UAE Thermal Conductive Polymer Material Market by Product
10.5.1.4.2 UAE Thermal Conductive Polymer Material Market by Application
10.5.1.5 Egypt
10.5.1.5.1 Egypt Thermal Conductive Polymer Material Market by Product
10.5.1.5.2 Egypt Thermal Conductive Polymer Material Market by Application
10.5.1.6 Saudi Arabia
10.5.1.6.1 Saudi Arabia Thermal Conductive Polymer Material Market by Product
10.5.1.6.2 Saudi Arabia Thermal Conductive Polymer Material Market by Application
10.5.1.7 Qatar
10.5.1.7.1 Qatar Thermal Conductive Polymer Material Market by Product
10.5.1.7.2 Qatar Thermal Conductive Polymer Material Market by Application
10.5.1.8 Rest of Middle East
10.5.1.8.1 Rest of Middle East Thermal Conductive Polymer Material Market by Product
10.5.1.8.2 Rest of Middle East Thermal Conductive Polymer Material Market by Application
10.5.2 Africa
10.5.2.1 Africa Thermal Conductive Polymer Material Market by Country
10.5.2.2 Africa Thermal Conductive Polymer Material Market by Product
10.5.2.3 Africa Thermal Conductive Polymer Material Market by Application
10.5.2.4 Nigeria
10.5.2.4.1 Nigeria Thermal Conductive Polymer Material Market by Product
10.5.2.4.2 Nigeria Thermal Conductive Polymer Material Market by Application
10.5.2.5 South Africa
10.5.2.5.1 South Africa Thermal Conductive Polymer Material Market by Product
10.5.2.5.2 South Africa Thermal Conductive Polymer Material Market by Application
10.5.2.6 Rest of Africa
10.5.2.6.1 Rest of Africa Thermal Conductive Polymer Material Market by Product
10.5.2.6.2 Rest of Africa Thermal Conductive Polymer Material Market by Application
10.6 Latin America
10.6.1 Latin America Thermal Conductive Polymer Material Market by Country
10.6.2 Latin America Thermal Conductive Polymer Material Market by Product
10.6.3 Latin America Thermal Conductive Polymer Material Market by Application
10.6.4 Brazil
10.6.4.1 Brazil Thermal Conductive Polymer Material Market by Product
10.6.4.2 Brazil Africa Thermal Conductive Polymer Material Market by Application
10.6.5 Argentina
10.6.5.1 Argentina Thermal Conductive Polymer Material Market by Product
10.6.5.2 Argentina Thermal Conductive Polymer Material Market by Application
10.6.6 Colombia
10.6.6.1 Colombia Thermal Conductive Polymer Material Market by Product
10.6.6.2 Colombia Thermal Conductive Polymer Material Market by Application
10.6.7 Rest of Latin America
10.6.7.1 Rest of Latin America Thermal Conductive Polymer Material Market by Product
10.6.7.2 Rest of Latin America Thermal Conductive Polymer Material Market by Application
11 Company Profile
11.1 TORAY INDUSTRIES, INC
11.1.1 Company Overview
11.1.2 Financials
11.1.3 Product/Services Offered
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 X2F Solution
11.2.1 Company Overview
11.2.2 Financials
11.2.3 Product/Services Offered
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Celanese Corporation
11.3.1 Company Overview
11.3.2 Financials
11.3.3 Product/Services Offered
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 HELLA GmbH & Co
11.4 Company Overview
11.4.2 Financials
11.4.3 Product/Services Offered
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 KANEKA CORPORATION
11.5.1 Company Overview
11.5.2 Financials
11.5.3 Product/Services Offered
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Covestro AG
11.6.1 Company Overview
11.6.2 Financials
11.6.3 Product/Services Offered
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Kenner Material & System Co. Ltd
11.7.1 Company Overview
11.7.2 Financials
11.7.3 Product/Services Offered
11.7.4 SWOT Analysis
11.7.5 The SNS View
11.8 Brenntag GmbH
11.8.1 Company Overview
11.8.2 Financials
11.8.3 Product/Services Offered
11.8.4 SWOT Analysis
11.8.5 The SNS View
11.9 SABIC
11.9.1 Company Overview
11.9.2 Financials
11.9.3 Product/ Services Offered
11.9.4 SWOT Analysis
11.9.5 The SNS View
11.10 Saint-Gobain
11.10.1 Company Overview
11.10.2 Financials
11.10.3 Product/Services Offered
11.10.4 SWOT Analysis
11.10.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share Analysis
12.3 Recent Developments
12.3.1 Industry News
12.3.2 Company News
12.3.3 Mergers & Acquisitions
13. USE Cases and Best Practices
14. Conclusion
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