Europe Electronic Thermal Management Materials Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 175 | Report Code: BMIRE00031931 | Category: Chemicals and Materials
No. of Pages: 175 | Report Code: BMIRE00031931 | Category: Chemicals and Materials
The Europe electronic thermal management materials market was valued at US$ 614.91 million in 2023 and is expected to reach US$ 1,019.76 million by 2031; it is estimated to register a CAGR of 6.5% from 2023 to 2031.
The automotive industry's rapid growth, particularly in electrical vehicles (EVs), autonomous driving technologies, and increasingly complex infotainment systems, is significantly driving the demand for advanced electronic thermal management materials. As modern vehicles become more electrified and integrated with electronic systems, they generate substantial heat due to high-density electronics. Efficient thermal management is thus essential to ensure these systems' reliability, performance, and safety. Consequently, the growing reliance on electronics in the automotive industry has made thermal management materials indispensable for maintaining optimal temperatures in various components, from batteries and sensors to onboard computers and inverters.
Electrical vehicles, in particular, have revolutionized the automotive sector and introduced new challenges in thermal management. EVs rely heavily on large battery packs that store and supply energy to the vehicle's motor, generating considerable heat during operation. High battery temperatures can lead to performance degradation, reduced battery life, and, in extreme cases, safety hazards such as thermal runway. According to the International Energy Agency's annual Global Electric Vehicle Outlook, over 10 million electric cars were sold worldwide in 2022 and reached 13.9 million electrical cars. Advanced thermal management materials, such as TIMs, heat spreaders, and phase-change materials, effectively control battery temperatures. These materials help dissipate heat from the battery cells to ensure they operate within safe temperature ranges, ultimately enhancing the EV's overall efficiency, longevity, and safety. Additionally, the growing emphasis on fast-charging capabilities has increased the need for thermal management materials that can handle the higher heat loads associated with rapid energy transfer.
Source: International Energy Agency, 2023
Autonomous driving technology is another significant contributor to the rising demand for electronic thermal management materials in the automotive industry. Autonomous vehicles require an array of sensors, cameras, radar, and LiDAR systems to process vast amounts of data in real time. These components, along with the central computing systems responsible for processing and making driving decisions, generate a substantial amount of heat that must be carefully managed to maintain system performance and prevent overheating. Advanced thermal management solutions, including high-performance TIMs and thermal gas fillers, are crucial for these components, helping ensure reliable operation in varied environmental conditions. For autonomous vehicle systems to operate safely, thermal management materials must provide efficient heat dissipation while maintaining the durability and reliability needed for extended use. Thus, the expanding automotive industry's focus on EVs, autonomous technologies, and advanced onboard systems has created a strong demand for electronic thermal management materials. As vehicles become more dependent on high-power electronics, the role of thermal management materials is becoming increasingly vital for achieving performance, safety, and regulatory compliance, positioning them as a foundational component of modern automotive innovation.
Europe's automotive industry is playing an increasingly important role in driving the demand for electronic thermal management materials, particularly as the region undergoes a shift toward advanced manufacturing techniques and electric vehicle (EV) production. According to the European Commission, Europe is one of the largest manufacturers of motor vehicles worldwide. The automobile industry directly and indirectly employs andsim;13.8 million people, resulting in 6.1% of overall employment in the European Union (EU). According to the Organisation Internationale des Constructeurs d'Automobiles (OICA), the EU automotive production increased to 4.2 million units in 2023 from 3.7 million units in 2022, registering a growth of 19%. The region has several prominent automotive players, including Volkswagen AG, Stellantis NV, Mercedes-Benz Group AG, Bayerische Motoren Werke AG, and Renault SA. Automobile manufacturers in the region are investing heavily in EV production. For instance, in February 2024, Stellantis and Mercedes-Benz announced the plan to invest US$ 7.6 billion to set up three new EV gigafactories across the EU. These factories will be set up in Kaiserslautern in Germany, Termoli in Italy, and another undisclosed location in France. Europe has set ambitious climate goals, aiming for a significant reduction in greenhouse gas emissions, which has spurred growth in EV and battery production. Thermal management materials play a critical role in ensuring battery efficiency, safety, and longevity. In EVs, efficient heat dissipation is essential to maintain battery performance and prevent overheating, especially as vehicle electrification demands increase.
The Europe electronic thermal management materials market is categorized into product type, end-use industry, and country.
By product type, the Europe electronic thermal management materials market is segmented into conductive adhesives, thermal management films, gap fillers, thermal gels, phase change materials, thermal greases, and others. The thermal greases segment held the largest share of the Europe electronic thermal management materials market share in 2023.
In terms of end-use industry, the Europe electronic thermal management materials market is segmented into consumer electronics, automotive, aerospace, telecommunication, and others. The automotive segment held the largest share of the Europe electronic thermal management materials market share in 2023.
Based on country, the Europe electronic thermal management materials market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany segment held the largest share of the Europe electronic thermal management materials market in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 614.91 Million |
| Market Size by 2031 | US$ 1,019.76 Million |
| Global CAGR (2023 - 2031) | 6.5% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
3M Co, DuPont de Nemours Inc, Electrolube Ltd, European Thermodynamics Ltd, Graco Inc, Henkel AG & Co KGaA, Honeywell International Inc, Marian Inc, Master Bond Inc, Momentive Performance Materials Inc, Parker Hannifin Corp, Robnor ResinLab Ltd, Sur-Seal Corp, Tecman Speciality Materials Ltd, and Wacker Chemie AG are the leading companies operating in the electronic thermal management materials market.
The Europe Electronic Thermal Management Materials Market is valued at US$ 614.91 Million in 2023, it is projected to reach US$ 1,019.76 Million by 2031.
As per our report Europe Electronic Thermal Management Materials Market, the market size is valued at US$ 614.91 Million in 2023, projecting it to reach US$ 1,019.76 Million by 2031. This translates to a CAGR of approximately 6.5% during the forecast period.
The Europe Electronic Thermal Management Materials Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Electronic Thermal Management Materials Market report:
The Europe Electronic Thermal Management Materials Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Electronic Thermal Management Materials Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Electronic Thermal Management Materials Market value chain can benefit from the information contained in a comprehensive market report.
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