Electronics Cleaning Solvents Market Size, Share, Sales, Demand & Growth by 2029

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 The electronics cleaning solvents industry is constantly advancing, and superior methods and products are being developed to concur with advancements in the electronics field. 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 boosts their demand for electronics cleaning.

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.

About the Chemicals and Materials Division at Future Market Insights (FMI)

The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing — ‘The Way Forward’.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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