According to CITIC Securities, the growing demand for AI computing power and the evolution of advanced packaging continue to drive up chip power consumption and heat flow density, driving TIM to higher thermal conductivity, lower thermal resistance, and high reliability. AI servers and new energy vehicles will be the main sources of growth. The global TIM market is expected to increase from 9.67 billion yuan in 2025 to 22.12 billion yuan in 2030. Overseas manufacturers occupy the middle and high-end markets with formula accumulation, mass production experience and customer certification, and domestic companies are relying on the local chip, packaging and terminal industry chain to speed up product introduction. It is recommended to grasp two main lines of investment: 1) breakthroughs in domestic production of chip-level TIM; 2) upgrading of electronic grade silicone materials and expansion of thermal management applications.

According to CITIC Securities, the growing demand for AI computing power and the evolution of advanced packaging continue to drive up chip power consumption and heat flow density, driving TIM to higher thermal conductivity, lower thermal resistance, and high reliability. AI servers and new energy vehicles will be the main sources of growth. The global TIM market is expected to increase from 9.67 billion yuan in 2025 to 22.12 billion yuan in 2030. Overseas manufacturers occupy the middle and high-end markets with formula accumulation, mass production experience and customer certification, and domestic companies are relying on the local chip, packaging and terminal industry chain to speed up product introduction. It is recommended to grasp two main lines of investment: 1) breakthroughs in domestic production of chip-level TIM; 2) upgrading of electronic grade silicone materials and expansion of thermal management applications.