Thermally Conductive Additives Market Report

Market Insights

Thermally conductive plastics are challenging traditional materials, such as metals (notably aluminum) and ceramics, as these plastics offer a gamut of advantages including lightweight, low cost, easy moldability, and ability to develop custom parts. Apart from these advantages, these plastics also offer more in the way of thermal stability, impact strength, and resistance to scratch and abrasion. Thermal conductivity in plastic provides the ability to meet demanding engineering requirements in many applications and more cost-effectively than other materials including metals, ceramics, and other plastics. There is a need for greater thermal conductivity for the surrounding thermoplastic, elastomeric and thermoset components due to rising demand for miniaturization of electronic components/systems, weight-saving initiatives in the transportation industry, and the increasing demand for electric vehicles.

There are two types of thermally conductive additives: carbon and ceramic. Carbon-based additives are thermally as well as electrically conductive, whereas ceramic-based additives are thermally conductive and electrically insulative. Graphite is the most popular carbon-based thermally conductive additive, having low cost with desired performance. Among ceramic-based thermally conductive additives, boron nitride is majorly used in the industry.

The thermally conductive additives market is projected to grow at a mesmerizing rate over the next five years to reach US$ 1,117.1 million in 2025. Several factors are positively impacting the growth of thermally conductive additives various end-use industries out of which the most common driver is the inherent advantages of thermally conductive additives. Furthermore, the current penetration of thermally conductive plastics is diminutive but has been increasing at an impressive rate, especially in the E&E, automotive, and LED lighting applications, taking the overall growth of the market to the next level. For instance; thermally conductive plastics are increasingly preferred in the headlight and under-the-hood parts in the automotive industry, driven by their lightweight along with excellent thermal stability.

Segment Analysis

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Thermally Conductive Additives Market by Plastic Type

The thermally conductive additives market is segmented based on the plastic-type as thermoplastic and thermoset. Thermoplastic is likely to remain the largest segment of the market during the forecast period. The rapid increase in the production of electric vehicles, miniaturization of electronic devices, and proliferating demand for lightweight materials in the transportation industry are generating a strong demand for thermally conductive additives. The thermoplastic conductive additives market is further segmented as polyamide (PA 6 & PA 66), polybutylene terephthalate (PBT), polycarbonate (PC), and others, where polyamide is likely to maintain its supremacy in the market during the forecast period. Similarly, the thermoset conductive additives market is further segmented as epoxy, phenolic, and others.

Thermally Conductive Additives Market by Material Type

Based on the material type, the market is classified as graphite, boron nitride, and others. Graphite is likely to maintain its lead in the thermally conductive additives market by 2025. Graphite is the best option if electrical conductivity and high thermal conductivity are required in a plastic compound. It is preferred due to its low cost. Graphite costs approximately half of the boron nitride additives.

Thermally Conductive Additives Market by End-Use Type

Based on the end-use industry type, the market is classified as E&E, automotive, LED lighting, consumer goods, and others. E&E is likely to remain the most dominant demand generator, whereas automotive is likely to be the fastest-growing end-use industry in the market during the forecast period. As electronic devices are becoming smaller yet more powerful with every generation, the importance for thermally conductive and electrically insulative plastics for enclosures of these devices become has been rising tremendously.

Regional Insights                                                                 

In terms of region, Asia-Pacific is projected to remain the largest and the fastest-growing region during the forecast period. China is the growth engine of the Asia-Pacific’s thermally conductive additives market. A significant increase in the demand for smart electronics, LED lights, and electric vehicles in the country will continue to boost the demand during the forecast period. Despite weakening economic growth of China and India, both countries are estimated to remain the most attractive markets in years to come as there has been an incessant shift of the electrical & electronics industry in both countries from the developed markets.

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Market Scope & Segmentation

The thermally conductive additives market is segmented into the following categories.

Thermally Conductive Additives Market Size, Share & Forecast, By Plastic Type

• Thermoplastic Conductive Additives (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Thermoset Conductive Additives (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermally Conductive Additives Market Size, Share & Forecast, By Material Type

• Graphite (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Boron Nitride (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermally Conductive Additives Market Size, Share & Forecast, By End-Use Industry Type

• E&E (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Automotive (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• LED Lighting (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
• Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

Thermally Conductive Additives Market Size, Share & Forecast, By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Italy, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

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Key Players

The supply chain of this market comprises raw material suppliers, thermally conductive additive manufacturers, compounders, and end-use industries.

The key players in the market are-

• Imerys
• The 3M Company
• Showa Denko K.K.
• Momentive Performance Materials
• Asbury Carbons.

The development of advanced additives targeting higher performance, the formation of mergers & acquisitions, and collaborations with OEMs for the joint development of thermally conductive additives are some of the strategies adopted by the major players in order to gain a competitive edge in the market.

Report Features

This 227-page comprehensive report, from Stratview Research, on the thermally conductive additives market is one of its kind and estimates the current as well as future growth opportunities for the market participants till 2025. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies in order to expedite their growth process.

The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Research Methodology

For calculating the market size, our analysts follow either Top-Bottom or Bottom-Top approach or both, depending upon the complexity or availability of the data points. Our reports offer high-quality insights and are the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. We leverage multitude of authenticated secondary sources, such as company annual reports, government sources, trade associations, journals, investor presentation, white papers, and articles to gather the data. More than 10 detailed primary interviews with the market players across the value chain in all four regions and industry experts are usually executed to obtain both qualitative and quantitative insights.

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the material types by plastic-type

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.