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Electronic Cleaning Solvents Market Size, Industry Outlook Report, Regional Analysis, Application Development, Price Trends, Competitive Market Share & Forecast, 2024 – 2032

  • Report ID: GMI1313

Electronic Cleaning Solvents Market Size

Electronic Cleaning Solvents Market is projected to witness an upsurge over 2024-2032, due to 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. 

The rising sales of MacBook is likely to expand the industry growth. 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 serve as essential cleaners utilized for the removal of unwanted contaminants, including solder residues, flux, dust, oil, and grease during both device manufacturing and maintenance processes. Increasing product usage in cleaning of alarms, terminal plugs, switches, relays, connectors, and other devices will augment the market outlook.

Electronic Cleaning Solvents Market Trends 

One of the key factors boosting the electronic cleaning solvents industry trends is the high emphasis on connected device penetration. The increasing middle-class population and rising popularity of electronic gadgets will also create lucrative growth opportunities for electronic cleaning solution manufacturers.

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.

Electronic Cleaning Solvents Market Analysis

Fluorinated solvents segment is poised to generate notable revenues throughout 2024-2032, 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 vapor phase degreaser segment share is projected to rise considerably over the forecast period, as it is economical, quick, and simple cleaning process. Lesser 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 2024-2032, owing to the well-established electronic sector and shift towards 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.

Electronic Cleaning Solvents Market Share

  • 3M Company
  • A.W. Chesterton Company
  • Miller-Stephenson Chemical Co.
  • Aervoe Industries, Inc.
  • Fujifilm NDT Systems
  • LPS Laboratories
  • CRC Industries, Inc.

are major market players. These manufacturers are focusing on new product launches, partnerships, acquisitions, and business footprint expansions to reinforce their presence in the industry.

Electronic Cleaning Solvents Industry News

  • In March 2023, 3M announced a collaboration with Guardhat, a leading connected safety software company. Recognizing the significance of connectivity in safety programs, 3M transferred its Safety Inspection Management (SIM) software to Guardhat.

What Information does this report contain?

Historical data coverage: 2018 to 2023; Growth Projections: 2024 to 2032.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.
Authors: Kiran Pulidindi

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