According to a research report released by CITIC Securities, the escalating demand for AI computational power, coupled with advancements in sophisticated packaging technologies, is steadily increasing chip power consumption and heat flux density. This trend is propelling the evolution of thermal interface materials (TIM) towards achieving superior thermal conductivity, reduced thermal resistance, and enhanced reliability. AI servers and new energy vehicles are poised to emerge as the primary catalysts for growth in the TIM market. The global TIM market is projected to expand from RMB 9.67 billion in 2025 to RMB 22.12 billion by 2030. At present, overseas manufacturers hold a dominant position in the mid-to-high-end market segment, capitalizing on their extensive formulation expertise, mass production capabilities, and customer certifications. Meanwhile, domestic companies are expediting the introduction of their products by leveraging local industry chains encompassing chips, packaging, and end-users. The report highlights two investment themes for consideration: firstly, the domestic breakthrough in chip-level TIM, with a focus on Debang Technology; and secondly, the enhancement of electronic-grade silicone materials and the broadening of thermal management applications, with attention directed towards Runhe Materials.