Electronic Cleaning Solvents Market Overview
According to a recent survey conducted by ChemView Consulting, the Electronic Cleaning Solvents Market grew at a CAGR of 5.7% between 2017-2021 and is estimated to be US$ 1,897.4 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 6.4 % and is expected to reach a valuation of US$ 3,528.4 Mn by 2032 end.
Throughout the projected period, the market is anticipated to grow in response to the rising demand for pure and safe cleaning chemicals that are lightweight and non-toxic. The cleaning of electronic items requires proper knowledge of the solvent properties along with safe use.
ChemView Consulting has analyzed that Electronics cleaning solvents are used in electronics manufacturing at the different stages of production including raw material preparation and cleaning, assembly, and packaging. These solvents help in removing dirt and debris from parts before they are sold to end users.
They clean without damage to delicate circuits as well as provide lubrication to materials which reduces friction in moving parts. The quality control process of electronics manufacturing ensures that all quality attributes of the products being manufactured are delivered during the processing and assembly steps.
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Segments Covered in Report
By Product:
- Formulated Hydrocarbon Solvents
- Glycols & Glycol Ethers
- Fluorinated Solvents
- Brominated Solvents
- Light Petroleum Distillates
By Cleaning Process:
- Vapor Phase Degreaser
- Vacuum Cleaning
- Mixed Co-solvent
- Separated Co-solvent
- Semi-aqueous
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Key Takeaways from the Electronic Cleaning Solvents Market
- Based on the Product, At 69.0% of the market, Fluorinated Solvents had the greatest revenue share. Due to its Fluorinated solvents are widely used in various electronic products. These solvents are made of fluorocarbons, a group of compounds with high boiling points and low density.
- Based on the Cleaning Process, The vapor phase degreaser process segment of the global electronics cleaning solvents market is estimated to consistently show a substantially high market share over the forecast period, on account of its higher number of applications in the electronics industry. The growth in demand for an easy cleaning process is boosting the segment of the vapor phase degreaser process.
- Based on Region, In 2021, the Asia Pacific market held a sizeable revenue share of 58.7%. In emerging economies, rapid population development has raised the need for electronics. China is anticipated to be one of the prominent markets for cleaning solvents due to the sharp increase in the consumption of electronic items. The rising consumption of electronic items also has been attributed as a major driving factor for the development of this sector.
Competition Summary
Key companies covered in the market study are 3M, The Dow Chemical Company, Honeywell International Inc., The Chemours Company Albemarle Corporation, Asahi Glass Co. Ltd, LyondellBasell Industries Holdings B.V, Solvay SA, and many others are the leading market players in the global Electronics Cleaning Solvents.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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