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The Global Market for Thermal Management Materials and Systems 2024-2034

  • Report

  • 320 Pages
  • August 2023
  • Region: Global
  • Future Markets, Inc
  • ID: 5866147

Effective thermal management is critical across industries from microelectronics to electric vehicles to aerospace systems. With increasing power densities and decreasing form factors, innovative materials and design solutions are required to dissipate escalating heat loads. This report provided an overview of key technologies and techniques enabling safe, reliable and high performance thermal control. Main topics covered included:

  • Thermal management materials - Heat spreaders, heat sinks, phase change materials, thermal interface materials, and advanced composites.
  • Thermal management systems - Immersion cooling, battery thermal management, heat exchangers, thermoelectric coolers.
  • Direct liquid cooling - Microchannel heat sinks, jet impingement, spray cooling, and chip immersion techniques.
  • Passive heat transfer - Heat pipes, vapor chambers, and phase change materials.

Key areas covered include:

  • Thermal interface materials - greases, gels, pads, gap fillers
  • Heat spreaders and heat sinks - design, materials, optimization
  • Phase change materials - characteristics, electronics and battery applications
  • Immersion cooling systems - for high heat flux removal in data centers
  • Battery thermal management - for electric vehicles
  • Heat pipes and vapor chambers - operating principles, wick structures
  • Thermoelectric cooling - Peltier modules, precision temperature control
  • Direct chip cooling - microchannel heat sinks, jet impingement, spray cooling

Key market areas covered include:

  • Electronics cooling - CPUs, GPUs, power electronics for computing and data centers
  • Automotive cooling - powertrain components, battery thermal management for electric vehicles
  • Aerospace and space - avionics, instruments, thermal control systems for aircraft and spacecraft
  • Energy systems - photovoltaics, nuclear, turbine heat management
  • Industrial - motor drives, power supplies, high power lasers, RF amplifiers
  • Biomedical - medical imaging, analyzers, therapy devices
  • Consumer products - mobile phones, laptops, LED lighting, appliances

The report explores thermal management solutions across these diverse markets spanning from microelectronics to electric vehicles to avionics and space systems. Each market has unique requirements and challenges related to heat fluxes, environments, form factors, and performance needs. Key underlying technologies are examined in the context of enabling effective thermal control in these applications. The analysis provides insights into applying advanced thermal management materials and techniques to meet critical needs in these technology sectors.

The report features profiles of 144 companies in thermal management. Companies profiled include 3M, Arieca, Arteco Coolants, Carbice Corporation, CondAlign, Dexerials, Fujipoly, Henkel, Indium Corporation, KULR Technology Group, Inc., Parker-Hannifin Corporation, Senior Flexonics, Shin-Etsu Chemical Co., Ltd, and SHT Smart High-Tech AB.

This product will be delivered within 1-3 business days.

Table of Contents

1.1 Thermal management
1.1.1 Active
1.1.2 Passive
1.2 Thermal Management Systems
1.2.1 Immersion Cooling Systems for Data Centers
1.2.2 Battery Thermal Management for Electric Vehicles
1.2.3 Heat Exchangers for Aerospace Cooling
1.3 Main types of thermal management materials and technologies

2.1 Properties of Phase Change Materials (PCMs)
2.2 Types
2.2.1 Organic/biobased phase change materials Advantages and disadvantages Paraffin wax Non-Paraffins/Bio-based
2.2.2 Inorganic phase change materials Salt hydrates Advantages and disadvantages Metal and metal alloy PCMs (High-temperature)
2.2.3 Eutectic mixtures
2.2.4 Encapsulation of PCMs Macroencapsulation Micro/nanoencapsulation
2.2.5 Nanomaterial phase change materials
2.3 Thermal energy storage (TES)
2.3.1 Sensible heat storage
2.3.2 Latent heat storage
2.4 Battery Thermal Management

3.1 What are thermal interface materials (TIMs)?
3.1.1 Types
3.1.2 Thermal conductivity
3.2 Comparative properties of TIMs
3.3 Advantages and disadvantages of TIMs, by type
3.4 Prices
3.5 Thermal greases and pastes
3.6 Thermal gap pads
3.7 Thermal gap fillers
3.8 Thermal adhesives and potting compounds
3.9 Metal-based TIMs
3.9.1 Solders and low melting temperature alloy TIMs
3.9.2 Liquid metals
3.9.3 Solid liquid hybrid (SLH) metals Hybrid liquid metal pastes SLH created during chip assembly (m2TIMs)
3.10 Carbon-based TIMs
3.10.1 Multi-walled nanotubes (MWCNT) Properties Application as thermal interface materials
3.10.2 Single-walled carbon nanotubes (SWCNTs) Properties Application as thermal interface materials
3.10.3 Vertically aligned CNTs (VACNTs) Properties Applications Application as thermal interface materials
3.10.4 BN nanotubes (BNNT) and nanosheets (BNNS) Properties Application as thermal interface materials
3.10.5 Graphene Properties Application as thermal interface materials Graphene fillers Graphene foam Graphene aerogel
3.10.6 Nanodiamonds Properties Application as thermal interface materials
3.10.7 Graphite Properties Natural graphite Classification Processing Flake Grades Applications Synthetic graphite Classification Primary synthetic graphite Secondary synthetic graphite Processing Applications as thermal interface materials
3.10.8 Hexagonal Boron Nitride Properties Application as thermal interface materials
3.11 Metamaterials
3.11.1 Types and properties Electromagnetic metamaterials Double negative (DNG) metamaterials Single negative metamaterials Electromagnetic bandgap metamaterials (EBG) Bi-isotropic and bianisotropic metamaterials Chiral metamaterials Electromagnetic “Invisibility” cloak Terahertz metamaterials Photonic metamaterials Tunable metamaterials Frequency selective surface (FSS) based metamaterials Nonlinear metamaterials Acoustic metamaterials
3.11.2 Application as thermal interface materials
3.12 Self-healing thermal interface materials
3.12.1 Extrinsic self-healing
3.12.2 Capsule-based
3.12.3 Vascular self-healing
3.12.4 Intrinsic self-healing
3.12.5 Healing volume
3.12.6 Types of self-healing materials, polymers and coatings
3.12.7 Applications in thermal interface materials
3.13 Phase change thermal interface materials (PCTIMs)
3.13.1 Thermal pads
3.13.2 Low Melting Alloys (LMAs)

4.1 Design
4.2 Materials
4.2.1 Aluminum alloys
4.2.2 Copper
4.2.3 Metal foams
4.2.4 Metal matrix composites
4.2.5 Graphene
4.2.6 Carbon foams and nanotubes
4.2.7 Graphite
4.2.8 Diamond
4.2.9 Liquid immersion cooling
4.3 Market overview
4.3.1 Applications
4.3.2 Market players
4.4 Challenges

5.1 Design
5.2 Types
5.3 Key materials
5.4 Recent innovation
5.5 Market overview
5.5.1 Applications
5.5.2 Market players

6.1 Design
6.2 Types
6.3 Liquid Coolants
6.4 Components of Liquid Cooling Systems
6.5 Benefits
6.6 Challenges
6.7 Recent innovation
6.8 Market overview

7.1 Introduction
7.2 Air Cooling Methods
7.3 Design
7.4 Recent innovation
7.5 Applications
7.6 Market overview

8.1 Overview
8.2 Design
8.3 Enhancement Techniques
8.4 Applications
8.5 Recent innovation
8.6 Market overview

9.1 Overview
9.2 Heat Transfer Mechanisms
9.3 Spray Cooling Fluids
9.4 Applications
9.5 Recent innovation

10.1 Overview
10.2 Common immersion fluids
10.3 Benefits
10.4 Challenges
10.5 Recent innovation

11.1 Thermoelectric Modules
11.2 Performance Factors
11.3 Electronics Cooling

12.1 Coolant Fluid Requirements
12.2 Common EV Coolant Fluids
12.3 Recent innovations

13.1 Consumer electronics
13.1.1 Market overview Market drivers Applications Smartphones and tablets Wearable electronics
13.1.2 Global market revenues 2018-2034
13.2 Electric Vehicles (EV)
13.2.1 Market overview Market drivers Applications Lithium-ion batteries Cell-to-pack designs Cell-to-chassis/body Electric motors Power electronics Charging stations
13.3 Data Centers
13.3.1 Market overview Market drivers Applications Router, switches and line cards Servers Power supply converters
13.4 ADAS Sensors
13.4.1 Market overview Market drivers Applications ADAS Cameras ADAS Radar ADAS LiDAR
13.5 EMI shielding
13.5.1 Market overview Market drivers Applications
13.6 5G
13.6.1 Market overview Market drivers Applications Antenna Base Band Unit (BBU)

14.1 Global revenues for 2022, by type
14.2 Global revenues 2023-2033, by materials type
14.2.1 Telecommunications market
14.2.2 Electronics and data centers market
14.2.3 ADAS market
14.2.4 Electric vehicles (EVs) market
14.3 By market
14.4 Global revenues for thermal management materials and systems 2018-2034, by region

List of Tables
Table 1. Comparison active and passive thermal management
Table 2. Common PCMs used in electronics cooling and their melting temperatures
Table 3. Properties of PCMs
Table 4. PCM Types and properties
Table 5. Advantages and disadvantages of organic PCMs
Table 6. Advantages and disadvantages of organic PCM Fatty Acids
Table 7. Advantages and disadvantages of salt hydrates
Table 8. Advantages and disadvantages of low melting point metals
Table 9. Advantages and disadvantages of eutectics
Table 10. Thermal conductivities (?) of common metallic, carbon, and ceramic fillers employed in TIMs
Table 11. Commercial TIMs and their properties
Table 12. Advantages and disadvantages of TIMs, by type
Table 13. Thermal interface materials prices
Table 14. Characteristics of some typical TIMs
Table 15. Properties of CNTs and comparable materials
Table 16. Typical properties of SWCNT and MWCNT
Table 17. Comparison of carbon-based additives in terms of the main parameters influencing their value proposition as a conductive additive
Table 18. Thermal conductivity of CNT-based polymer composites
Table 19. Comparative properties of BNNTs and CNTs
Table 20. Properties of graphene, properties of competing materials, applications thereof
Table 21. Properties of nanodiamonds
Table 22. Comparison between Natural and Synthetic Graphite
Table 23. Classification of natural graphite with its characteristics
Table 24. Characteristics of synthetic graphite
Table 25. Properties of hexagonal boron nitride (h-BN)
Table 26. Types of self-healing coatings and materials
Table 27. Comparative properties of self-healing materials
Table 28. Benefits and drawbacks of PCMs in TIMs
Table 29. Challenges with heat spreaders and heat sinks
Table 30. Global revenues for thermal management materials and systems, 2018-2034, by type
Table 31. Global revenues for TIMs 2018-2034, by market (millions USD)
Table 32. Carbodeon Ltd. Oy nanodiamond product list
Table 33. CrodaTherm Range
Table 34. Ray-Techniques Ltd. nanodiamonds product list
Table 35. Comparison of ND produced by detonation and laser synthesis

List of Figures
Figure 1. Phase-change TIM products
Figure 2. PCM mode of operation
Figure 3. Classification of PCMs
Figure 4. Phase-change materials in their original states
Figure 5. Thermal energy storage materials
Figure 6. Phase Change Material transient behaviour
Figure 7. (L-R) Surface of a commercial heatsink surface at progressively higher magnifications, showing tool marks that create a rough surface and a need for a thermal interface material
Figure 8. Schematic of thermal interface materials used in a flip chip package
Figure 9. Thermal grease
Figure 10. Dispensing a bead of silicone-based gap filler onto the heat sink of a power electronics module
Figure 11. Application of thermal silicone grease
Figure 12. A range of thermal grease products
Figure 13. Thermal Pad
Figure 14. Dispensing a bead of silicone-based gap filler onto the heat sink of a power electronics module
Figure 15. Thermal tapes
Figure 16. Thermal adhesive products
Figure 17. Typical IC package construction identifying TIM1 and TIM2
Figure 18. Liquid metal TIM product
Figure 19. Pre-mixed SLH
Figure 20. HLM paste and Liquid Metal Before and After Thermal Cycling
Figure 21. SLH with Solid Solder Preform
Figure 22. Automated process for SLH with solid solder preforms and liquid metal
Figure 23. Schematic diagram of a multi-walled carbon nanotube (MWCNT)
Figure 24. Schematic of single-walled carbon nanotube
Figure 25. Types of single-walled carbon nanotubes
Figure 26. Schematic of a vertically aligned carbon nanotube (VACNT) membrane used for water treatment
Figure 27. Schematic of Boron Nitride nanotubes (BNNTs). Alternating B and N atoms are shown in blue and red
Figure 28. Graphene layer structure schematic
Figure 29. Illustrative procedure of the Scotch-tape based micromechanical cleavage of HOPG
Figure 30. Graphene and its descendants: top right: graphene; top left: graphite = stacked graphene; bottom right: nanotube=rolled graphene; bottom left: fullerene=wrapped graphene
Figure 31. Detonation Nanodiamond
Figure 32. DND primary particles and properties
Figure 33. Flake graphite
Figure 34. Applications of flake graphite
Figure 35. Graphite-based TIM products
Figure 36. Structure of hexagonal boron nitride
Figure 37. Classification of metamaterials based on functionalities
Figure 38. Electromagnetic metamaterial
Figure 39. Schematic of Electromagnetic Band Gap (EBG) structure
Figure 40. Schematic of chiral metamaterials
Figure 41. Nonlinear metamaterials- 400-nm thick nonlinear mirror that reflects frequency-doubled output using input light intensity as small as that of a laser pointer
Figure 42. Schematic of self-healing polymers. Capsule based (a), vascular (b), and intrinsic (c) schemes for self-healing materials. Red and blue colours indicate chemical species which react (purple) to heal damage
Figure 43. Stages of self-healing mechanism
Figure 44. Self-healing mechanism in vascular self-healing systems
Figure 45. Comparison of self-healing systems
Figure 46. PCM TIMs
Figure 47. Phase Change Material - die cut pads ready for assembly
Figure 48. Schematic of TIM operation in electronic devices
Figure 49. Schematic of Thermal Management Materials in smartphone
Figure 50. Wearable technology inventions
Figure 51. Global market revenues in electronics 2018-2024, by type, million USD
Figure 52. Application of thermal interface materials in automobiles
Figure 53. EV battery components including TIMs
Figure 54. Battery pack with a cell-to-pack design and prismatic cells
Figure 55. Cell-to-chassis battery pack
Figure 56. TIMS in EV charging station
Figure 57. Image of data center layout
Figure 58. Application of TIMs in line card
Figure 59. ADAS radar unit incorporating TIMs
Figure 60. Coolzorb 5G
Figure 61. TIMs in Base Band Unit (BBU)
Figure 62. Global revenues for thermal management materials and systems, 2018-2034, by type
Figure 63. Global revenues for thermal management materials and systems in telecommuncations, 2018-2034, by type
Figure 64. Global revenues for thermal management materials and systems in electronics & data centers, 2018-2034, by type
Figure 65. Global revenues for thermal management materials and systems in ADAS, 2018-2034, by type.Source: Future Markets, Inc
Figure 66. Global revenues for thermal management materials and systems in Electric Vehicles (EVs), 2018-2034, by type
Figure 67. Global revenues for TIMs 2018-2033, by market
Figure 68. Boron Nitride Nanotubes products
Figure 69. Transtherm® PCMs
Figure 70. Carbice carbon nanotubes
Figure 71. Internal structure of carbon nanotube adhesive sheet
Figure 72. Carbon nanotube adhesive sheet
Figure 73. HI-FLOW Phase Change Materials
Figure 74. Thermoelectric foil, consists of a sequence of semiconductor elements connected with conductive metal. At the top (in red) is the thermal interface
Figure 75. Parker Chomerics THERM-A-GAP GEL
Figure 76. Credo™ ProMed transport bags
Figure 77. Metamaterial structure used to control thermal emission
Figure 78. Shinko Carbon Nanotube TIM product
Figure 79. The Sixth Element graphene products
Figure 80. Thermal conductive graphene film
Figure 81. VB Series of TIMS from Zeon

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • 3M 
  • ADA Technologies 
  • AI Technology Inc. 
  • Aismalibar S.A. 
  • Amphenol Advanced Sensors 
  • Andores New Energy Co., Ltd. 
  • AOK Technologies 
  • AOS Thermal Compounds LLC 
  • Arieca, Inc. 
  • Arkema 
  • Arteco 
  • Asahi Kasei 
  • Aspen Aerogels 
  • ATP Adhesive Systems AG 
  • Axalta 
  • Axiotherm GmbH 
  • Azelio 
  • Bando Chemical Industries, Ltd. 
  • Beam Global/AllCell 
  • BNNano 
  • Bostik 
  • Boyd Corporation 
  • BYK 
  • Cadenza Innovation 
  • Carbice Corp. 
  • Carbodeon Ltd. Oy 
  • Carbon Waters 
  • Climator Sweden AB 
  • CondAlign AS 
  • Croda Europe Ltd. 
  • Cryopak 
  • CSM 
  • Datum Phase Change Ltd 
  • Detakta Isolier- und Messtechnik GmbH & Co. KG 
  • Devan Chemicals NV
  • Dexerials Corporation 
  • Deyang Carbonene Technology 
  • Dober 
  • Dow Corning 
  • Dupont (Laird Performance Materials) 
  • Dymax Corporation 
  • ELANTAS Europe GmbH 
  • Elkem 
  • Elkem Silcones 
  • e-Mersiv
  • Enerdyne Thermal Solutions, Inc 
  • Epoxies Etc. 
  • Ewald Dörken AG 
  • First Graphene Ltd 
  • FUCHS 
  • Fujipoly 
  • Fujitsu Laboratories 
  • Global Graphene Group 
  • Goodfellow Corporation 
  • Graphmatech AB 
  • GuangDong KingBali New Material Co., Ltd. 
  • H.B. Fuller Company 
  • HALA Contec GmbH & Co. KG 
  • Hamamatsu Carbonics Corporation 
  • Hangzhou Ruhr New Material Technology Co., Ltd. 
  • HeatVentors 
  • Henkel AG & Co. KGAA 
  • Honeywell 
  • Hongfucheng New Materials 
  • Huber Martinswerk 
  • HyMet Thermal Interfaces SIA 
  • Indium Corporation 
  • Inkron 
  • Inuteq 
  • JIOS Aerogel 
  • Kerafol Keramische Folien GmbH & Co. KG 
  • Kitagawa
  • KULR Technology Group, Inc. 
  • Leader Tech Inc. 
  • Liquid Wire, Inc. 
  • LiSAT 
  • M&I Materials 
  • MG Chemicals Ltd 
  • Microtek Laboratories, Inc. 
  • Minoru Co., Ltd. 
  • Mithras Technology AG 
  • Molecular Rebar Design, LLC 
  • Momentive Performance Materials 
  • Nano Tim 
  • Nanoramic Laboratories 
  • NeoGraf Solutions, LLC 
  • Nexperia 
  • Nolato Silikonteknik 
  • Ntherma Corporation 
  • OCSiAl Group 
  • Panasonic 
  • Parker Hannifin Corporation 
  • Pelican BioThermal LLC 
  • Phase Change Energy Solutions Inc. 
  • Phase Change Material Products Ltd. 
  • Phase Change Products Pty Ltd (PCP) 
  • Plasmonics, Inc. 
  • PLUSS Advanced Technologies Pvt. Ltd. 
  • Polymer Science, Inc. 
  • Polytec PT GmbH 
  • Promethean Power Systems, Inc 
  • Protavic 
  • PST Sensors 
  • PureTemp LLC 
  • Ray-Techniques Ltd. 
  • Rogers Corporation 
  • Romeo Power 
  • Rovilus, Inc. 
  • Rubitherm Technologies GmbH 
  • Saint-Gobain 
  • Samyang Corporation 
  • Sasol Germany GmbH 
  • Schlegel Electronic Materials 
  • Seatrec 
  • Sekisui Chemical
  • Sekisui Polymatech Europe BV 
  • Senior Flexonics 
  • Shanghai Tempered Entropy New Energy Co. 
  • Shenhe Liyang Technology 
  • Shenzhen Aochuan Technology Co., Ltd. 
  • Shin-Etsu Chemical Co. Ltd. 
  • Shinko Electric Industries Co., Ltd. 
  • SHT Smart High Tech AB 
  • Sika AG 
  • Sixth Element 
  • Solvay Specialty Polymers 
  • STOCKMEIER Urethanes GmbH & Co. KG 
  • Sundanzer
  • Suzhou Kanronics Electronic Technology Co., Ltd 
  • Tenutec AB 
  • Ultimate Transmissions 
  • va-Q-tec AG 
  • Versarien 
  • Viking Cold Solutions, Inc. 
  • Voltabox 
  • Von Roll 
  • Wacker Chemie AG 
  • Xerotech 
  • XING Mobility 
  • Zalman Tech Co., Ltd. 
  • Zeon Specialty Materials