Vancouver, British Columbia, Dec. 14, 2020 (GLOBE NEWSWIRE) — The Global Thermoelectric Materials Market is projected to be worth USD 96.2 Million by 2027, according to the current analysis by Emergen Research. The thermoelectric materials market is observing high demand attributed to a growing demand for renewable and clean energy. There has been a growing emphasis on green and clean energy technology development to reduce the consumption of fossil fuels, non-renewable resources, and emissions of greenhouse gases. A thermoelectric generator generates green energy by converting waste heat into electricity and offers the benefits of harvesting the electric energy from both hot and cold surfaces, thus producing energy without depleting fossil fuel sources and reducing the environmental pollution. The growing demand for the thermoelectric generator for green and clean energy production would boost the demand for thermoelectric materials.
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Key Highlights From The Report
- In August 2020, Laird Thermal Systems announced the development of solid-state material-based high-temperature HiTemp ETX Series thermoelectric cooler intended for applications comprising LiDAR sensors and 3D machine vision. The product can operate at a maximum temperature of 150°C, which exceeds a majority of outdoor applications.
- Lead telluride held the second-largest market share in 2019 and is used as an intermediate thermoelectric generator. The product has a maximum operating temperature of 627 degrees Centigrade and possesses a high melting point, low vapor pressure, good chemical stability, and good chemical strength.
- Several governments worldwide are deploying various measures and legislations to ascertain environmental safety, thereby driving the thermoelectric materials demand.
- Wireless sensors driven by thermoelectric generators are beneficial for places with temperature differentials, resolving problems associated with battery reliability and longevity. There is a surging requirement for such kinds of sensors in aerospace and military applications.
- North America held a substantial thermoelectric materials market share in 2019, attributed to technological advancements in the automotive and medical industries and the growing inclination of consumers towards renewable and clean energy.
- Key participants include Laird Thermal Systems Inc., Marlow Industries Inc., Thermonamic Electronics, Tellurex, Ferrotec, EVERREDtronics, Hi-Z, RMT Ltd., KELK, and Crystal Ltd., among others.
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Emergen Research has segmented the Global Thermoelectric Materials Market on the basis of product type, distribution channel, application, and region:
- Product Type Outlook (Revenue, USD Billion; 2017-2027)
- Bismuth Telluride
- Lead Telluride
- Silicon-Germanium
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
- Industrial
- Automotive
- Electrical & Electronics
- Healthcare
- Others
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- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- Rest of MEA
- North America
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