The Global Thermally Conductive Adhesives Market was valued at USD 73.1 Million in 2024 and is projected to reach USD 104 Million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period (2024–2032). This growth is being driven by increasing miniaturization of electronic components, rising demand from the electric vehicle sector, and the accelerating adoption of advanced thermal management solutions across consumer electronics, telecommunications, and industrial applications.

As the electronics industry pushes the boundaries of performance and power density, the spotlight is on the key material suppliers who are driving innovation in heat dissipation and component bonding. In this blog, we profile the Top 10 Companies in the Thermally Conductive Adhesives Industry—a mix of chemical giants, specialty material science firms, and regional leaders shaping the future of thermal management.

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🔟 1. Shin-Etsu Chemical Co., Ltd.

Headquarters: Tokyo, Japan
Key Offering: Silicone-based Thermally Conductive Adhesives, High-Performance Thermal Interface Materials

Shin-Etsu is the undisputed global leader in thermally conductive adhesives, holding approximately 22% of the market share. The company leverages its deep expertise in silicone chemistry to produce adhesives with exceptional thermal stability and conductivity, serving the most demanding applications in semiconductor packaging and high-power electronics.

Innovation Initiatives:

• Development of ultra-high thermal conductivity formulations (>5 W/mK)

• Expansion of production capacity in Southeast Asia to meet growing demand

• Strategic R&D focused on next-generation 3D IC and chiplet packaging

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9️⃣ 2. Dow Chemical Company

Headquarters: Midland, Michigan, USA
Key Offering: DOWSIL™ Thermally Conductive Adhesives, Silicone and Hybrid Formulations

Dow is a major global player with a comprehensive portfolio of thermally conductive adhesives under its DOWSIL brand. The company’s materials are widely used in automotive electronics, LED lighting, and power modules, benefiting from Dow’s vertical integration and global supply chain capabilities.

Innovation Initiatives:

• Focus on electrically insulating adhesives for sensitive applications

• Development of fast-curing formulations for high-volume manufacturing

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8️⃣ 3. Henkel AG & Co. KGaA

Headquarters: Düsseldorf, Germany
Key Offering: LOCTITE® Thermally Conductive Adhesives, Epoxy and Acrylic Systems

Henkel’s LOCTITE brand is synonymous with reliability in the adhesives market. The company offers a diverse range of thermally conductive products, from electrically conductive pastes for grounding applications to insulating gels for semiconductor protection, serving a broad spectrum of industries from consumer electronics to aerospace.

Innovation Initiatives:

• Investment in sustainable, bio-based adhesive formulations

• Expansion of product lines for EV battery thermal management systems

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7️⃣ 4. Momentive Performance Materials

Headquarters: Waterford, New York, USA
Key Offering: Specialty Silicone-based Thermal Adhesives, High-Temperature Formulations

Momentive specializes in high-performance silicone materials, including thermally conductive adhesives designed for extreme operating conditions. The company’s products are particularly valued in automotive, aerospace, and industrial applications where reliability under thermal cycling is critical.

Innovation Initiatives:

• Development of adhesives with enhanced thermal stability up to 200°C

• Focus on gap-filling formulations for uneven surfaces

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6️⃣ 5. Parker Hannifin Corp.

Headquarters: Cleveland, Ohio, USA
Key Offering: THERMASIL® Thermally Conductive Adhesives, Thermal Interface Materials

Parker Hannifin brings its engineering expertise to the thermal management space with the THERMASIL product line. The company focuses on providing complete thermal solutions, combining adhesives with other thermal interface materials to address complex heat dissipation challenges.

Innovation Initiatives:

• Integration of adhesives with thermal gap filler technologies

• Custom formulation development for specific OEM requirements

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5️⃣ 6. 3M Company

Headquarters: Maplewood, Minnesota, USA
Key Offering: 3M™ Thermally Conductive Adhesives, Acrylic and Epoxy Systems

3M’s extensive materials science capabilities extend to thermally conductive adhesives used across multiple industries. The company’s products are known for their reliability and are widely specified in medical devices, telecommunications equipment, and consumer electronics where consistent performance is essential.

Innovation Initiatives:

• Development of medical-grade biocompatible thermal adhesives

• Research into nanomaterial-enhanced formulations

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4️⃣ 7. Hönle AG

Headquarters: Gräfelfing, Germany
Key Offering: UV-curable Thermally Conductive Adhesives, Specialty Formulations

Hönle has carved out a niche with its UV-curable thermally conductive adhesives, which offer rapid processing advantages for high-volume electronics manufacturing. The company’s technology enables precise application and instant curing, improving production efficiency for customers.

Innovation Initiatives:

• Advancement of UV-LED curable adhesive systems

• Development of low-outgassing formulations for optical applications

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3️⃣ 8. CHT Group

Headquarters: Tübingen, Germany
Key Offering: Silicone-based Thermal Adhesives, Environmentally Friendly Formulations

CHT Group emphasizes sustainability in its thermally conductive adhesive offerings, developing products with reduced environmental impact while maintaining high performance. The company serves the European market with a focus on industrial and automotive applications.

Innovation Initiatives:

• Focus on halogen-free and low-VOC formulations

• Development of water-based thermal adhesive systems

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2️⃣ 9. Chengdu Guibo Science and Technology

Headquarters: Chengdu, Sichuan, China
Key Offering: Cost-effective Thermal Adhesives, Consumer Electronics Solutions

As a leading Chinese manufacturer, Chengdu Guibo has captured approximately 9% of the regional market by offering competitive pricing and rapid response to customer needs. The company specializes in formulations tailored for the high-volume consumer electronics market.

Innovation Initiatives:

• Localized production to reduce costs and lead times

• Development of adhesives optimized for smartphone and laptop manufacturing

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1️⃣ 10. Nagase & Co., Ltd.

Headquarters: Osaka, Japan
Key Offering: Specialty Chemical-based Thermal Adhesives, Custom Formulations

Nagase combines its chemical distribution expertise with formulation capabilities to serve the Japanese and broader Asian markets. The company works closely with electronics manufacturers to develop application-specific thermally conductive adhesive solutions.

Innovation Initiatives:

• Partnerships with major Japanese electronics OEMs

• Development of thermally conductive but electrically insulating adhesives

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🔬 Outlook: The Future of Thermally Conductive Adhesives Is Smarter and More Sustainable

The thermally conductive adhesives market is undergoing a significant transformation. While traditional formulations continue to dominate, the industry is investing heavily in high-performance alternatives, nanotechnology-enhanced materials, and sustainable production methods.

📈 Key Trends Shaping the Market:

• R&D focus on achieving thermal conductivity above 10 W/mK while maintaining adhesion strength

• Growing demand for bio-based and recyclable adhesive formulations

• Integration of smart capabilities such as phase-change and self-healing properties

• Increasing customization for specific applications in 5G, AI hardware, and advanced packaging

Get Full Report Here: Thermally Conductive Adhesives Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials—they’re enabling the technological advancement of next-generation electronics through innovative thermal management solutions.