The market for thermal management materials for light-emitting diodes (LEDs) and power electronics will more than double from $1.8bn in 2013 to $4.8bn in 2020, according to new report 'Cooling Heats Up: Sizing the Opportunity for Conductive Polymers in Thermal Management' (part of the Lux Research Energy Electronics Intelligence service). In particular, as manufacturers look for more cost-effective ways to improve heat dissipation, thermally conductive polymers will dramatically increase their market share, from 16% in 2013 to 40% ($1.9bn) in 2020, adds Lux Research.
"Miniaturization and performance are creating a need for improved thermal management, driving significant market growth and technology shifts," says analyst Pallavi Madakasira, lead author of the report. "Thermally conductive polymers offer a cost-effective and efficient alternative to incumbents like aluminium, making them an increasing critical material in this market."
Lux Research analysts sized up the market opportunity for thermal management in LEDs and power electronics, and identified top technology developers. Their findings include the following:
LED lighting will be the main driver. Thermal management for LED lighting will more than double to $3.8bn in 2020, led by aggressive growth in the residential and commercial markets, as well as automotive LED lighting, which will reach $730m in 2020. Thermal interface materials take off in smart-phones and tablets. The smart-phone and tablet thermal materials market will triple to more than $300m in 2020. Given the sensitivity to weight and cost, these two end-markets will rely on special thermal interface materials (TIMs), rather than secondary heat-sinks. Solar and electric vehicles grow most rapidly, but use few polymers. Thermal materials for solar inverters and power modules in hybrid and electric vehicles will boom to $170m in 2020. However, performance demands will limit the use of polymers in these applications to just a few million dollars.
