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Electronic Cleaning Solvents Market size is projected to witness an upsurge over 2023-2032, as a result of rapid digitalization and industrial automation. The increasing reliance on power electronics has put pressure on manufacturers, encouraging them to adopt automated solutions to cater to mounting consumer demand. This automation trend will accelerate electronics development and consequently boost the requirement for solvents for cleaning electronics.
Cleaning is essential in electronics development before stenciling and soldering to eliminate excess solder and contaminants. Against the backdrop of the general market decline expected, MacBook sales are likely to surge in the second half of 2022. Based on Apple’s financial report, in Q3 of 2022, Mac shipments rose by 45.8% QoQ, augmenting the need for electronic cleaning solutions.
Electronic cleaning solvents refer to a cleaner utilized to remove unwanted contaminants such as solder residues, flux, dust, oil, and grease during device manufacturing and maintenance. The product is used in cleaning alarms, switches, relays, connectors, terminal plugs, and other solutions, and can be adopted at any stage of manufacturing including production, repair, and servicing.
One of the key factors fostering the electronic cleaning solvents market trends is the high emphasis on boosting connected device penetration. The increasing middle-class population and the high requirement for electronic gadgets will also create lucrative growth opportunities for electronic components cleaning solution developers.
Fluorinated solvents will be a lucrative product segment for the electronic cleaning solvents market by 2032, considering their cost-effectiveness and applicability in precision cleaning and degreasing electronics. The product is widely used to remove fluxes, pastes, greases, particulates, waxes, and other contaminants. Additionally, it has a relatively lower boiling point compared to chlorinated solvents, thereby gaining acceptance in vapor cleaning systems. The rise in semiconductor manufacturing will therefore boost its usage for electronic gadget cleaning applications.
In terms of the cleaning process, the electronic cleaning solvents market share from the vapor phase degreaser segment is projected to rise considerably over the forecast period. The emergence of the vapor degreasing technique as an economical, quick, and simple cleaning process will also contribute to cleaning solvent demand. In addition, less waste disposal costs, low energy usage, no cross-contamination, shorter process time, no water consumption, and low post-cleaning residue are among the major attributes bolstering vapor degreasing using solvents.
North American electronic cleaning solvents market will amass substantial profits over 2023-2032, owing to the well-established electronic sector and rising automation. Governments have emphasized amplifying semiconductor manufacturing. For example, in October 2022, the U.S. government pulled out all stops to accelerate domestic chip production. These factors, alongside the increasing population and disposable income, will fuel electronics consumption and consequently stimulate the regional market outlook.
A.W. Chesterton Company, Aervoe Industries, Inc., ELECTROLUBE (Alpha Assembly Solutions, Inc.), Fujifilm NDT Systems, LPS Laboratories, 3M Company, Miller-Stephenson Chemical Co., PERMATEX, and CRC Industries, Inc. (Berwind Corporation), are major electronic cleaning solvents market key players. These manufacturers are focusing on new product launches, collaborations, acquisitions, and business footprint expansions to reinforce their presence in the industry.
The inflation wave has impacted multiple industrial sectors, including electronic components. Over the years, the prices of discrete, linear, logic, passive, and advanced analog components have surged and are likely to climb until the improvement of macroeconomic conditions. The Russia-Ukraine conflict and international sanctions against Russia have also disrupted the supply chain of chipmaking raw materials. These challenges may limit electronics production and in turn, create roadblocks to the electronic cleaning solvents industry over the foreseeable future.