Electronics Cleaning Solvents Market Size, Share, Demand and Trends by 2022-2029
The global market is projected to witness a growth rate of 5.9% over the forecast period of 2022 and 2029. Future Market Insights (FMI) has estimated the market of electronics cleaning solvents to witness a year over year growth of 5.9% in 2022 reaching a value of about US$ 1,134.0 Mn by the end of 2022.
Electronics cleaning solvents add to the functional
quality and longevity of electronic components and products; hence, these have
been gaining higher importance in the electronics industry. Certain solvents
also impart high insulation resistance characteristics to components and
devices, which boots their demand for electronics cleaning.
The electronics cleaning solvents market is constantly advancing, and
superior methods and products are being developed to concur with advancements
in the electronics field.
The introduction of low-cost electronics cleaning
solvents, such as hydrofluoroethers (HFEs), which are designed to
effectively remove solder flux residue from printed circuit boards, along with
their environmental and safety advantages over chlorinated solvents and
ozone-depleting hydro-chlorofluorocarbons (HCFCs), is expected to drive the
demand for electronics cleaning solvents further. The global electronics
cleaning solvent market is projected to exhibit a value CAGR of 5.9% during the
forecast period of 2022-2029.
“Stringent regulatory environmental norms
have compelled manufacturers to focus on products that result in minimal ozone
depletion and contribution to global warming. One such product type,
fluorinated solvents, is witnessing significant demand, and is expected to
establish higher prominence in the electronics cleaning solvents market until a
better alternative surfaces.”
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Key Takeaways of Electronic Cleaning
Solvents Study
- Fluorinated
solvents product type is anticipated to grow at a healthier rate. Its
market share is projected to increase due to its zero ozone depletion
potential, low global warming potential, and high solvency.
- The
separated co-solvent process uses formulated hydrocarbon solvents as
cleaning solvents, and is extensively used in the PCB industry, owing to
the extraordinary cleaning results it provides.
- Formulated
hydrocarbon solvents have developed new opportunities in the electronics
cleaning solvents market over the years, and the segment is projected to
witness strong market growth, supported by rising preference for this type
in PCB and electronic industries.
- APEJ
and Japan, together, have established a lion’s share in the electronics
cleaning solvents market, owing to the expanding electronics and
electrical industry in the region. Together, the region holds over 70% of
the electronics cleaning solvents market share. Moreover, the electronics
industry in the region is still at a growing stage, and is anticipated to
flourish over the coming years.
- The
electronics industry is focusing on electronics miniaturization; hence,
nanotechnology and micro electromechanical systems (MEMS) are growing in
functionality as well as acceptance in a majority of applications among
various industries such as consumer electronics, automotive, aerospace,
medical devices, and others.
Market Landscape Moving towards
Fragmentation
The electronics cleaning solvents market is partially
consolidated, with the presence of a large number of market players in both,
tier I and II brackets. However, as the electronics industry is becoming highly
competitive and fragmented year-by-year, the electronics cleaning solvents
market is also anticipated to move towards fragmentation.
As the number of tier II and III players in the
end-use sectors increases, the market is bound to witness an increase in tier
II & III manufacturers to cope up with the increase in demand at variable
prices.
3M, Albemarle Corporation, Asahi Glass Co. Ltd.,
LyondellBasell Industries Holdings B.V, Honeywell International Inc., Dow
Chemical Company, Chemours Company, and Solvay SA, BASF SE are some of the
established manufacturers in the electronics cleaning solvents market. Tier I
participants are anticipated to face strong competition from tier II & III
players over the foreseeable future.
Electronics Cleaning Solvents by Category
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:
- North
America
- Latin
America and Middle East & Africa (LAMEA)
- Europe
- Asia
Pacific Excluding Japan (APEJ)
- Japan
Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
2.3. Parent Market Overview
3. Market View Point
3.1. Key Success Factors: Electronics Cleaning
Solvents Market
3.2. Electronics Cleaning Solvents Selection Criteria:
End Users
3.3. Macro-Economic Factors
3.4. Market Dynamics
4. Global Electronics Cleaning Solvents
Market Analysis 2014-2021 and Forecast 2022–2029
To be continued…!
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Full Report: https://www.futuremarketinsights.com/reports/electronic-cleaning-solvents-market
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