The thermally conductive grease market is projected to reach USD 416.6 Million by 2022, at a CAGR of 7.3% from 2017 to 2022
With the growing LED lighting industry across the globe, the demand for thermally conductive grease is expected to increase as electronic device manufacturers are opting for these greases to protect their electronic devices from overheating and damage. The demand of thermally conductive grease is further driven by the demand from the growing electronics & electrical industry.
Silicone greases are the most widely used type of the thermally conductive greases. Silicone greases are cost-effective. They are capable of withstanding higher temperatures and fit in smaller gaps. Due to these properties, silicone greases are preferred in various end-use industries, such as LED lighting, power electronics, automotive electronics, telecommunication & IT, and others.
The LED lighting end-use industry segment of the thermally conductive grease market is projected to grow at the highest CAGR from 2017 to 2022. The growth of the LED lighting end-use industry segment can be attributed to the increasing demand for thermally conductive grease. Factors such as government initiatives are driving the demand for LED lighting for energy consumption and energy efficiency.
The Asia Pacific region is the global forerunner in the thermally conductive grease market in terms of both value as well as volume, and this trend is expected to continue till 2022. Factors, such as ban on CFL lighting, increasing need for energy conservation, and need for reducing electricity expense are expected to contribute towards the growth of the LED lighting industry of the region. This, in turn, is expected to drive the growth of the Asia Pacific thermally conductive grease market during the forecast period.
Increasing Demand for Miniaturization of Electronic Devices
Physical Properties Limiting the Growth of Thermally Conductive Grease
Electrification of Transportation Industry
Development of Elastomeric Pads
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Thermally Conductive Grease Market, By Type
7 Thermally Conductive Grease Market, By End-Use Industry