Growth in automotive industry augments the Thermally Conductive Grease Market
Posted by rohan on October 29th, 2019
The worldwide market for thermally conductive grease was at US$ 293.9 million in 2018. It is expected to be around US$ 421.15 million by 2023, with an annual growth rate of 7.46%. Tests on nanocomposite films for film formation, friction response, and vibration were performed when a small amount of grease was provided. The thermal resistance of the thermoelectric generator is a critical factor in the efficiency of output power output. Improving surface texture, pressure and thermal interface materials (TIM) enhances the ability of the generator.
Market Drivers and Restraints:
Increasing demand for end-user industries, such as the automotive, heavy machinery, construction and transport sectors, has led to rapid market growth. Improving people's purchasing power parity (PPP) around the world has fuelled growth in the automotive industry and has, therefore created a time of expansion of the thermally conductive grease market over the forecast period. With the strict ban on the use of CFLs by many governments, thermally conductive grease is also in high demand in the LED for both indoor and outdoor lighting, which is leading to rapid growth. Fluctuations in oil prices and various changes in the world market are some of the reasons that impede market growth, as fat is a derivative of oil.
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Report segmented as
By End-Use Industry:
On the basis of geography, the world market is fragmented in Latin America, AsiaPacific, Europe, North America, the Middle East and Africa. Among these regions, the Asia-Pacific is the fastest growing market due to demand for the automobile and heavy machinery industries in the region. India, China, Japan, Taiwan, South Korea are some of the fastest growing countries in the region. Improved economic conditions and increased growth in manufacturing supplements the thermally conductive grease market in the APAC.
Important Market Players:
Some of the important marketplace companies are PPG Industries, Inc. (United States of America), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (United States of America), Jotun (Norway), BASF SE (Germany), Nippon Paints Holdings Co., Ltd. (Japan), 3M Company (United States of America), The Valspar Corporation (United States of America), Axalta Coating Systems Ltd. (United States of America) and Kansai Paints Co., Ltd. (Japan).
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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About the Authorrohan
Joined: September 20th, 2017
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