Market Size of Thermally Conductive Grease Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thermally Conductive Grease Market Analysis
The thermally conductive grease market is projected to register a CAGR of 3% during the forecast period (2021-2026).
The demand for thermally conductive grease is increasing with the increasing usage in electronic, electrical, and telecommunication, and IT industries. It is used to draw heat away from devices, contributing to improved reliability and operational efficiency of electronics and electrical components. However, the COVID-19 has badly affected the electronics and electrical industries due to lockdown regulations. Besides, the slowdown in end-market demand eased pressure on the electronics components supply chain, which is grappling with balancing supply and demand. However, despite considerable economic uncertainty around the spread of COVID-19, moves to secure social distancing and realize remote and contactless interaction with remote IT that utilizes the increasing sophistication of 5G and local 5G networks will boost the demand for solution services during the forecast period.
- Over the medium term, the major factor driving the market studied is the increasing demand from the electrical and electronics industry.
- On the flip side, the inconsistent performance of thermally conductive grease is expected to hinder the market's growth.
- The Asia-Pacific region represents the largest market, and it is also expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries such as China, India, and Japan.
