Growing demand for the miniaturization of electronic devices is expected to drive the market growth during the forecast period. The demand for reduction of costs of industrial converter systems, and the power density of electronics has risen. Additionally, the emergence of new techniques is expected to bolster the market demand during the forecast period. For instance, the Microchannel liquid cooling technique has become apparent as an efficient thermal management process for microelectronics as the requirement of cooling is expected to increase beyond the limit of the conventional air-cooling technique.