air is ~ 0.02 ?
Thermal conductivity number of air is completely meaningless, as any temperature difference drives convection. That's why it's very wrong to say that air is "thermal insulator", and assume that any potting compound would be automagically better. For example, laptop power supplies do great job of dissipating a lot of power within small frame, and they do not do that by potting, they use heat spreaders (metal or pyrolytic graphite, which is 3-5 times better than pure copper, but only works as thin sheets) to couple that heat over larger area of internal air and external plastic case, both pretty poor thermal conductors, but given enough cross-sectional area, it works out, therefore the initial heat spreading is the key to success.