On August 22, CITIC Securities highlighted that the burgeoning demand for AI computing power, coupled with advancements in packaging technologies, is steadily escalating chip power consumption and heat flux density. This trend necessitates an upgrade in thermal interface materials (TIM) towards superior thermal conductivity, reduced thermal resistance, and enhanced reliability. AI servers and new energy vehicles are poised to emerge as the primary growth catalysts for the TIM market, with the global market size projected to surge from RMB 9.67 billion in 2025 to a staggering RMB 22.12 billion by 2030.

At present, overseas manufacturers command a significant share of the mid-to-high-end market, leveraging their technological prowess and customer certifications. Conversely, domestic companies are expediting product introductions by capitalizing on the local chip, packaging, testing, and end-terminal industrial chains. Investors are thus encouraged to concentrate on two key themes: firstly, the breakthrough in localization of chip-level TIM; and secondly, the enhancement of electronic-grade silicone materials and the broadening of thermal management applications.