U.S. Thermal Conductive Polymer Material Market Size, Share & COVID-19 Impact Analysis, By Type (Polyamide, Polybutylene Terephthalate, Polycarbonate, Polyphenylene Sulfide, Polyetherimide, and Others), By Application (Electrical & Electronics, Industrial, Automotive, Healthcare, Aerospace, and Others), and Country Forecast, 2023-2030

The U.S. thermal conductive polymer material market size was worth USD 46.1 million in 2022 and is projected to grow at a CAGR of 12.9% during the forecast period.

Thermal conductive polymer materials are used to increase the thermal conductivity and hold the potential to replace the ceramics, metal, and traditional plastics for heat-sensitive applications. Moreover, the demand for these materials is expected to increase in the electronics and automotive industries owing to their light weight and efficiency. This drives the global U.S. thermal conductive polymer material market growth.

During the COVID-19 pandemic, there was a drop in market growth due to factors such as manufacturing closures, shipping delays, and raw material shortages. These disruptions made material procurement more difficult and the demand from major end-use industries was impeded due to supply chain disruptions.

U.S. Thermal Conductive Polymer Material Market Trends

Rising Demand for Electric Vehicle (EVs) in the U.S. to Create Several Market Opportunities

The trend toward ecologically friendly transportation is increasing the popularity of electric vehicles (EVs). As EVs gain popularity in the U.S., there is a higher demand for efficient thermal management systems to safeguard vehicles and the performance of their batteries and electronic components. Thermal conductive polymer materials provide a lightweight and cost-effective option for heat dissipation within these systems. These materials offer high thermal conductivity and can be molded into a variety of shapes, making them ideal for EV components such as battery packs, charging infrastructure, and power electronics. The rising demand for thermal conductive polymer materials from EVs is expected to spur the innovation and investment in the market. This is further paving the way for a promising growth trajectory in the U.S.

U.S. Thermal Conductive Polymer Material Market Growth Factors

Shift to Lightweight Components to Drive the U.S. Market Expansion

The demand for improved thermal management systems has increased as the electronics & electrical industry continues to expand and innovate. Due to their lightweight, versatile, and cost-effective nature, thermal conductive polymer materials are an appealing alternative to traditional metal and ceramics. One of the primary applications within this industry is the production of high performance electronic devices. With the constant miniaturization and rising power density of electronic components, efficient heat dissipation is crucial to prevent overheating and ensuring optimal performance. Thermal conductive polymer materials are suitable alternative for heat sinks, thermal interface materials, and encapsulation, assisting electronic devices in maintaining their reliability and longevity. Thus, the shift toward light weight components is expected to drive the U.S. market growth during the forecast period.

RESTRAINING FACTORS

Maintaining High Thermal Conductivity with Desired Properties and Complying with the Regulation to Restrain the Industry Growth

The issue of maintaining high thermal conductivity while assuring other desirable material qualities is one of the significant restraints. While these materials have advantages such as lightweight and low cost, they frequently fall short of the greater thermal conductivity displayed by traditional materials such as metals or ceramics. This drawback may limit its use in situations that need particularly efficient heat dissipation. Furthermore, stringent regulatory requirements related to environmental impact and safety could pose challenge to the market as the industry manufacturers seek to develop new formulations and meet the evolving demand.

U.S. Thermal Conductive Polymer Material Market Segmentation Analysis

By Type Analysis

By type, the U.S. market is subdivided into polyamide, polybutylene terephthalate, polycarbonate, polyphenylene sulfide, polyetherimide, and others.

The polyamide segment accounted for the largest market share in 2022 due to its excellent mechanical properties along with thermal conductivity, making them ideal for applications such as heat sinks and LED lighting. Transparency is one of the major characteristic criteria that is considered while selecting materials in electrical & electronic applications.

Polycarbonate segment is anticipated to grow at a considerable CAGR during the review period. Polycarbonate is one of the toughest, thermally stable, and transparent materials. Owing to the exceptional properties, it is used in electronics in electronic casings, electronic components, electrical chargers, and battery boxes. Increasing adoption in several applications will drive the segment growth.

Polybutylene Terephthalate (PBT) possess high dielectric strength and exceptionally high electrical resistance that helps in protection of electrical & electronic apparatuses by providing a guard against leakage and breakdown in power circuitry. The polymer offers durability when under thermal stress. This is expected to drive the segmental growth moderately during the forecast period.

By Application Analysis

Based on application, the market is fragmented into electrical & electronics, industrial, automotive, healthcare, aerospace, and others.

The electrical & electronics segment accounted for the largest U.S. thermal conductive polymer material market share in 2022 due to the surging product adoption in electronic components. These materials are used in several electrical & electronic applications such as LED enclosures, heat sinks, and electronic components.

The automotive segment is expected to grow at a significant rate during the forecast period. Increasing demand for electric and hybrid vehicles have increased the market demand in automotive segment as these materials are employed in power electronics and battery packs.

In the industrial sector, these materials are used majorly in heat dissipation applications. In aerospace industry, it used in aircraft interiors and avionics systems. Furthermore, in the healthcare sector, it is used in medical devices and diagnostic equipment.

List of Key Companies in U.S. Thermal Conductive Polymer Material Market

Key players in the U.S. material market are Celanese Corporation, Aviation Corporation, BASF, and RTP Company, among others. Market players compete primarily based on the application characteristics and price of the product. Several players are emphasizing on developing thermal conductive polymers that cater to the demand from automotive and electronics sectors. Companies are also focused on product innovation, mergers & acquisitions, and expanding their production capacities.

LIST OF KEY COMPANIES PROFILED:

• RTP Company (U.S.)


• Avient Corporation (U.S.)


• Celanese Corporation (U.S.)


• Laird Technologies, Inc. (U.S.)


• Ovation Polymers, Inc. (U.S.)


• DuPont (U.S.)


• BASF SE (Germany)


• Ensinger Group (Germany)


• TORAY INDUSTRIES, INC. (Japan)


• Covestro AG (Germany)

KEY INDUSTRY DEVELOPMENTS:

• December 2022 - Ensinger PolyTech, Inc., purchased the assets of a U.S. based company named Poly-Tech Industrial, Inc., which engages in distribution of engineering and high performance solid polymer shapes. This acquisition will help the company to increase its distribution channel in the U.S.

REPORT COVERAGE

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The study report thoroughly examines key factors such as leading companies, applications, and types. It also provides market trends and highlights significant industry advancements. The study includes different variables that have contributed to the market growth in recent years. It examines the industry's newest dynamics and opportunities and historical data and revenue growth estimates at the country level.

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