Thermally conductive grease is a type of thermally conductive compound used to fill air gaps between heat-generating components and heat sinks. It helps to dissipate heat away from the components and into the heat sink. This improves the overall heat transfer rate and helps keep components cooler. Thermally conductive grease is used in a wide variety of applications, including consumer electronics, power supplies, computers, automotive, and industrial machinery. The demand for thermally conductive grease is increasing due to the wide range of applications that require it and the need to keep components running at optimal temperatures.
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. The growth of the thermally conductive grease market can be attributed to the increased demand for thermally conductive grease from various end-use industries, such as LED lighting, automotive electronics, power electronics, telecommunication & IT, etc.
New product launches, expansions, and mergers & acquisitions are the key growth strategies undertaken by the market players to maintain and enhance their position in the thermally conductive grease market. The growth of the thermally conductive grease market can be attributed to the increased demand from the electronics & electrical industry. Leading players in this market are also focusing on partnerships to increase their market shares.
Major manufacturers of thermally conductive grease, including Dow Corning Corporation (US), Electrolube (UK), Laird PLC. (UK), Momentive Performance Materials Inc. (US), 3M Company (US), Parker-Hannifin Corporation (US), LORD Corporation (US), Wacker Chemie AG (Germany), and Henkel AG & Co. KGaA (Germany) have been profiled in this report on the thermally conductive grease market. These companies adopted both organic and inorganic growth strategies to strengthen their position in the thermally conductive grease market.
Electrolube is the most active player in the thermally conductive grease market. It develops various types of thermally conductive greases to cater to the varied requirements of different end-use industries. The company has adopted the strategies of agreements, expansions, and new product launches to enhance its position in the market. As a part of its strategy, in July 2016, Electrolube expanded its reach to India by establishing a new manufacturing plant to produce encapsulation resins, conformal coatings, and thermal management materials.
Dow Corning Corporation (US) is another company that has established a strong foothold in the thermally conductive grease market. The company has adopted the strategy of new product launch to improve its product portfolio. In June 2013, the company introduced two new thermally conductive grease products, Dow Corning TC-5622 and TC-5351, which are used for electronics end-markets, such as automotive, power electronics, and high-brightness LED lighting applications.
