Thermally Conductive Grease Market by Type (Silicone Grease, and Non-silicone Grease), End-Use Industry (LED Lighting, Telecommunication & IT, Automotive Electronics, Power Electronics), and Region - Global Forecast to 2022
“Increased demand for thermally conductive grease from the LED lighting end-use industry is driving the growth of the thermally conductive grease market across the globe.”
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. Increasing demand for thermally conductive grease from the LED lighting end-use industry segment is the major driver for the growth of the thermally conductive grease market. The physical properties of thermally conductive grease act as a restraint for the growth of the thermally conductive grease market. The thermally conductive grease industry is expected to grow during the forecast period due to the increasing demand for thermally conductive grease from China, India, South Korea, and Rest of Asia Pacific.
“The silicone grease type of the thermally conductive grease market is projected to grow at the highest CAGR during the forecast period of 2017 to 2022.”
The silicone grease type segment of the thermally conductive grease market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022. The growth of this segment can be attributed to the increased use of silicone grease for LED lighting and other end-use industries. Silicone grease can withstand high temperatures, and is less viscous, hence can fit into small spaces. It is cheaper in comparison with non-silicone grease and hence preferred more.
“The Asia Pacific thermally conductive grease market is projected to grow at the highest CAGR during the forecast period.”
The Asia Pacific region is the largest market for thermally conductive grease, globally. China is the leading market for thermally conductive grease in the Asia Pacific region, owing to the large base of LED lighting industries in the country. The increasing demand for thermally conductive grease in China can be attributed to the growing investments by thermal conductive grease manufacturers in the country, increasing purchasing power of masses, and initiatives undertaken by the government of China to boost the growth of various industries, such as LED lighting, automotive electronics, power electronics, and telecommunication & IT in the country.
This study has been validated through primary interviews conducted with various industry experts, globally. These primary sources have been divided into three categories on the basis of the company type, designation, and region.
• By Company Type: Tier 1 – 62%, Tier 2 – 15%, and Tier 3 – 23%
• By Designation: C-Level – 15%, Director Level – 8%, and Others – 77%
• By Region: Europe – 31%, Asia Pacific – 61%, and North America – 8%
The report also includes company profiles and competitive strategies adopted by the major market players, such as Dow Corning Corporation (US), Electrolube (UK), Momentive Performance Materials Inc. (US), Laird Plc (US), 3M Company (US), Parker-Hannifin Corporation (US), LORD Corporation (US), Wacker Chemie AG (Germany), and Henkel AG & Co. KGaA (Germany) to strengthen their position in the thermally conductive grease market.
This research report categorizes the thermally conductive grease market on the basis of type, end-use industry, and region. It forecasts revenue growth and includes an analysis of the trends in each of the submarkets. These segments have been further described in detail with their subsegments in the report. The value and volume forecasts for these segments and subsegments have also been provided in the report till 2022. The report also includes company profiles and competitive strategies that have been adopted by the major players operating in the thermally conductive grease market.
Reasons to Buy this Report:
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market ranking of the top players, and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the thermally conductive grease market, high-growth regions, and market drivers, restraints, challenges, and opportunities.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the formulations of thermally conductive greases offered by the top market players.
• Product Development/Innovation: Detailed insights on the emerging technologies, Research & Development (R&D) activities, and new product launches in the thermally conductive grease market.
• Market Development: Comprehensive information on the lucrative, emerging markets as the report analyzes the thermally conductive grease market across different regions.
• Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the thermally conductive grease market.
• Competitive Assessment: In-depth assessment of the strategies, products, and manufacturing capabilities of the leading players in the thermally conductive grease market.
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