방열 재료 : 시장 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the heat dissipation materials market size was valued at USD 3.43 billion in 2025 and is estimated to grow from USD 3.75 billion in 2026 to reach USD 5.83 billion by 2031, at a CAGR of 9.25% during the forecast period (2026-2031).

Global Heat Dissipation Materials Market Trends and Insights

AI and High-Performance Computing Power Density

Artificial intelligence workloads have made thermal interface material selection a system-level design requirement in server development. NVIDIA Blackwell graphics processing unit modules exceeded 575 W of total graphics power, placing sustained heat removal at the center of package design. Future kilowatt-class accelerators are designed for liquid cooling, which increases the need for reliable interfaces between the die, lid, cold plate, and cooling loop. Solder thermal interface materials achieved total thermal resistance from 0.02 K*cm2/W to 0.08 K*cm2/W below 50 µm bond lines, while gallium-based liquid metals achieved interface resistance below 0.05 K*cm2/W. Large graphics processing unit packages can experience 100 µm to 300 µm warpage, which can exceed nominal material thickness and make consistent bond-line control essential. The heat dissipation materials market gains value per rack when metal and liquid-metal formulations replace several lower-performance polymer interface solutions.

Electric Vehicle Battery and Power-Electronics Electrification

Electric vehicle platform electrification is changing the demand profile for heat dissipation materials beyond a simple rise in unit volumes. Cell-to-pack and cell-to-chassis designs place gap fillers and phase change materials directly between cells, rather than using them as replaceable service components. Material choice becomes a structural design commitment once a battery system has passed qualification and entered production. A review from Aalto University found that 1 mm to 3 mm phase change material barriers can limit cell-to-cell thermal-runaway propagation in lithium-ion battery modules. Henkel AG & Co. KGaA introduced the Bergquist TGF 2030APS silicone-free gap filler and Loctite TLB 9270APS thermally conductive adhesive for these architectures in May 2026. Inverters, on-board chargers, and direct current-to-direct current converters also need conductive potting materials as switching frequencies and fast-charging thermal loads increase. The heat dissipation materials market gains more predictable demand when qualified gap fillers remain embedded within a battery platform for its production life.

Filler and Specialty-Metal Cost Volatility

Specialty filler and metal price changes remain an immediate profitability constraint for heat dissipation materials manufacturers. Boron nitride fillers support electrical insulation and high conductivity, but their complex synthesis makes them materially more expensive than standard alumina alternatives. This cost structure reduces margins for mid-specification products and limits boron nitride loading in commodity formulations. China's gallium export controls pushed domestic Chinese gallium prices to USD 420 per kilogram in 2025, exposing metal formulations to policy-driven supply disruptions. Indium and silver costs also change the price-performance balance of solder thermal interface materials, especially when suppliers must maintain coverage and warpage performance through thermal cycling. Overlapping export-control rules complicate purchasing, hedging, contract negotiations, and inventory strategies. Sustained cost pressure can limit research and development capacity and weaken gross-margin resilience for smaller specialty formulators.

Other drivers and restraints analyzed in the detailed report include:

1. Advanced Semiconductor Packaging and Chiplet Architectures
2. 5G, 6G, and Optical-Module Deployment
3. Qualification Cycles and Narrow Process Windows

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Thermal interface materials held 36.67% of demand in 2025, reflecting their use between silicon devices and heat sinks across several electronics applications. The segment served consumer electronics, data centers, and automotive power electronics, where each assembly needed controlled heat transfer at a contact surface. Henkel AG & Co. KGaA commercialized Loctite TCF 14001 in October 2025 for 800G and 1.6T optical transceivers, with 14.5 W/(m*K) thermal conductivity and less than 100 ppm silicone volatile outgassing. Heat sinks also retained demand in server racks and consumer devices, although liquid cold plates are reducing heat-sink demand per rack in some hyperscale data centers. Thermal tapes served consumer-electronics assembly, where mechanical fastening was unsuitable, while silicone-free and optically clean tape created a more specialized use case in active optical cable applications.

Phase change materials are projected to advance at a 9.89% CAGR through 2031. Their growth is tied to electric vehicle architectures that embed thermal materials within battery assemblies and require them to manage transient heat without permanent temperature elevation. Aalto University reported that paraffin-expanded graphite composite phase change materials can balance thermal enhancement with scalable battery-module use, and 1 mm to 3 mm barriers can limit thermal-runaway propagation. Other materials include thermally conductive adhesives, potting compounds, and encapsulants for power modules, inverters, and motor drives where structural bonding and heat control are required together. The heat dissipation materials industry is increasingly combining structural, optical, dielectric, and thermal performance in one formulation, which raises switching costs for qualified designs.

Complete Report Scope:

• By Material Type
  • Thermal Interface Materials
  • Heat Sinks
  • Thermal Tapes
  • Phase Change Materials
  • Other Material Types
• By Application
  • Consumer Electronics
  • Automotive
  • Telecommunications
  • Healthcare
  • Other Applications
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • ASEAN Countries
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • NORDIC Countries
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific held 42.18% of the market demand in 2025 and is projected to advance at a 9.93% CAGR through 2031, supported by electronics manufacturing, semiconductor assembly, and electric vehicle production. China combined battery-cell manufacturing with thermal-material consumption from smartphone and laptop supply chains, while domestic electric vehicle producers adopted cell-to-pack designs that used dense thermal layers for fast-charging thermal buffering. Japan and South Korea supplied advanced semiconductor packaging, display-panel manufacturing, and automotive electronics that required high-specification thermal-management materials at several points in the device stack. India's Production-Linked Incentive (PLI) scheme supported its emerging semiconductor and electronics manufacturing ecosystem and encouraged international formulators to develop local engineering and distribution capabilities. Vietnam, Thailand, and Malaysia expanded electronics assembly as original equipment manufacturers diversified supply chains, broadening the regional base of the heat dissipation materials market.

North America had a different demand profile centered on artificial intelligence data centers in the United States and high-specification automotive applications. Semiconductor fabrication investments supported by the CHIPS Act are expanding domestic advanced-packaging capacity and are expected to increase local thermal-material consumption as facilities reach production scale. Government and defense procurement programs also supported demand for domestically qualified materials used in critical electronics supply chains. Europe favored silicone-free, halogen-reduced, and recyclability-documented thermal materials under sustainability and chemical-compliance priorities that differed from regional requirements elsewhere. Germany's automotive electronics base, Nordic data-center density, and defense and aerospace applications in the United Kingdom and France supported demand for high-temperature stable formulations.

South America, and Middle-East and Africa represented smaller demand areas. Brazil supported demand through automotive assembly and electric vehicle adoption programs, while some local-content requirements encouraged development of domestic distribution networks. Saudi Arabia's Vision 2030-related data-center and digital-infrastructure investments are supporting enterprise thermal-management procurement and positioning the Kingdom as a regional demand center. South Africa contributes through its established automotive manufacturing base, while multi-region sourcing by global electronics brands creates related opportunities beyond core production locations. These conditions broaden demand in the heat dissipation materials market beyond the dominant Asia-Pacific manufacturing base.

1. 3M
2. Boyd
3. Dow
4. DuPont
5. Electrolube
6. Fujipoly America, Inc.
7. Henkel AG & Co. KGaA
8. Honeywell International Inc.
9. Indium Corporation
10. Momentive
11. PARKER HANNIFIN CORP
12. Shin-Etsu Chemical Co., Ltd.
13. Wacker Chemie AG
14. Wakefield Thermal, Inc.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 AI and High-Performance Computing Power Density
  • 4.2.2 Electric Vehicle Battery and Power-Electronics Electrification
  • 4.2.3 Advanced Semiconductor Packaging and Chiplet Architectures
  • 4.2.4 5G, 6G, and Optical-Module Deployment
  • 4.2.5 Thermal-EMI Co-Design in High-Frequency Electronics
• 4.3 Market Restraints
  • 4.3.1 Filler and Specialty-Metal Cost Volatility
  • 4.3.2 Qualification Cycles and Narrow Process Windows
  • 4.3.3 Reliability Trade-Offs at Thinner Bond Lines
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces Analysis
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Competitive Rivalry

5 Market Size and Growth Forecasts (Value)

• 5.1 By Material Type
  • 5.1.1 Thermal Interface Materials
  • 5.1.2 Heat Sinks
  • 5.1.3 Thermal Tapes
  • 5.1.4 Phase Change Materials
  • 5.1.5 Other Material Types
• 5.2 By Application
  • 5.2.1 Consumer Electronics
  • 5.2.2 Automotive
  • 5.2.3 Telecommunications
  • 5.2.4 Healthcare
  • 5.2.5 Other Applications
• 5.3 By Geography
  • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 ASEAN Countries
    • 5.3.1.6 Rest of Asia-Pacific
  • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
  • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 France
    • 5.3.3.4 Italy
    • 5.3.3.5 NORDIC Countries
    • 5.3.3.6 Russia
    • 5.3.3.7 Rest of Europe
  • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
  • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global Overview, Market Overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 3M
  • 6.4.2 Boyd
  • 6.4.3 Dow
  • 6.4.4 DuPont
  • 6.4.5 Electrolube
  • 6.4.6 Fujipoly America, Inc.
  • 6.4.7 Henkel AG & Co. KGaA
  • 6.4.8 Honeywell International Inc.
  • 6.4.9 Indium Corporation
  • 6.4.10 Momentive
  • 6.4.11 PARKER HANNIFIN CORP
  • 6.4.12 Shin-Etsu Chemical Co., Ltd.
  • 6.4.13 Wacker Chemie AG
  • 6.4.14 Wakefield Thermal, Inc.

7 Market Opportunities and Future Outlook

• 7.1 White-Space and Unmet-Need Assessment