CITIC Securities projects the global thermal interface materials (TIM) market will expand from CNY 9.67 bln in 2025 to CNY 22.12 bln in 2030, driven by rising AI compute demand and advanced packaging that increase chip power and heat flux. AI servers and new-energy vehicles are identified as the main incremental demand sources. Overseas suppliers dominate the mid-to-high end on formulation know‑how, mass‑production experience and customer qualification; Chinese firms are accelerating product ado

CITIC Securities projects the global thermal interface materials (TIM) market will expand from CNY 9.67 bln in 2025 to CNY 22.12 bln in 2030, driven by rising AI compute demand and advanced packaging that increase chip power and heat flux. AI servers and new-energy vehicles are identified as the main incremental demand sources. Overseas suppliers dominate the mid-to-high end on formulation know‑how, mass‑production experience and customer qualification; Chinese firms are accelerating product adoption leveraging local chip, packaging & testing and terminal supply chains. Reported investment themes: (1) domestic breakthroughs in chip‑level TIM; (2) upgrades in electronic‑grade silicone materials and wider thermal‑management applications.