Electronics Cleaning Solvents Market
2019 Analysis and Review of Electronics Cleaning Solvents Market by Product Type - Formulated Hydrocarbon Solvents, Glycols & Glycol Ethers, Fluorinated Solvents, Brominated Solvents, and Light Petroleum Distillates for 2019 - 2029
- 2020-02-07
- REP-GB-2074
- 34 Tables
- 60 Figures
- 189 pages
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Press Release:
Electronics Cleaning Solvents Market Forecasts
Electronics Cleaning Solvents Market to Hit US$ 1 Bn Mark in 2020
The global electronics cleaning solvents market is constantly advancing with the development of superior solutions on the horizon that align with innovations in the electronics sector, globally. Customers now expect an increasing level of functional quality and longevity of electronic components and products, which demands for better and sustainable cleaning solutions that can dissolve common manufacturing greases, oils, and fluxes from a range of electronic substrates. Estimated to join the billion-dollar club in 2020, worldwide revenue of the electronics cleaning solvents market will expand 1.8X by 2029.
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How will the electronics cleaning solvents market fare in the coming years?
The demand for electronics cleaning solvents is anticipated to be majorly generated from the industrial and residential electrical & electronics market, as these are used to clean electronic products. The market is expected to grow at a decent pace over the coming years, owing to increase in consumption from growing end-use sectors. The global electronics cleaning solvents market is expanding at a steady rate, supported by growth of the automotive and electrical & electronics industries, along with other end users.
Will the electronics cleaning solvents market head towards consolidation?
Currently, the market is partially consolidated; however, it is projected to head towards fragmentation, with an increase in tier II and III players in the electrical and electronic industry. This factor could result in the fragmentation of the electronics cleaning solvents market. Although, if major manufactures successfully implement growth strategies such as mergers and acquisitions, the market could remain consolidated.
What are the major challenges observed in the electronics cleaning solvents market?
While the electrical & electronics industry continues to influence growth strategies, end users and manufacturers tend to face multiple challenges in the electronics cleaning solvents market. In cases where electronics cleaning needs to be combined with deposition of protective coatings such as rust preventives or addition of a surface finish such as a brightener, the aqueous cleaning process is considered to be more effective. Cleaning solvents are highly volatile in nature, and require effective storage techniques, which adds to the cost of using electronics cleaning solvents.
Which region will lead the global sales for electronics cleaning solvents?
APEJ (Asia Pacific Excluding Japan) is anticipated to lead as far as sales are concerned in the electronics cleaning solvents market, with the emergence of China as a prominent consumer. The region also has high as well as emerging presence of automotive, consumer electronics, electrical & electronics, and aerospace industries.
Fluorinated Solvents Hold Prominence with Nearly 70% Share
Solvent-based cleaners are highly efficient, offering a convenient single-phase cleaning process and a broader temperature cleaning range. Usage of fluorinated solvents is equivalent to nearly 70% share of total sales, and, as such, they are the largest contributors to global market revenue. Their benefits such as zero ozone depletion potential, low global warming potential, and high solvency, have been drawing huge attention from manufacturers. As formulated hydrocarbon solvents are steadily emerging as a cleaning solution for PCBs and other electronic goods, they exhibit the potential to reshape market strategies in the near future.
Strong Presence of Electronics & Electrical Manufacturers Drives Market in APEJ
Considering the strong foothold of automotive and consumer electronics industries, the electronics cleaning solvents market in APEJ will stay ahead of the curve through 2029. Moreover, the emergence of new electrical & electronics entrants in the industry is setting high hopes for manufacturers. While leading players would be better positioned to expand their customer base through application-centric solutions, rise of industrial automation is influencing manufacturers to upgrade their existing business models and supply chains.
* This data is only a representation. Actual data may vary and will be available in report.
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2014
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2018
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2022
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2029
Customization – A New Disruptive Trend
As tech-enabled innovations pick pace in the electronics sector, including nanotechnology and micro electromechanical systems (MEMS), industrial end users are expecting customized solutions that can sustain in extreme conditions, and, in turn, require electronics cleaning solvents for their prolonged performance. Thus, manufacturers in the electronics cleaning solvents market are turning their attention towards customized solvents for specific application areas to gain substantial increase in revenue, margins, and profits.
For instance, Tesla Blatna, A.S. develops customized electronic modules for various electronic equipment - a comprehensive solution starting from hardware and software development and finishing with automated testing of the finished product.
Fluorinated solvents hold dominance with leading share
Formulated hydrocarbon solvents likely to see steady demand
Vapor phase degreasers to lead with maximum market share
Separated co-solvents to showcase noteworthy CAGR
How Growth will Unfold
The vapor phase degreaser cleaning process has been maintaining a positive trend, up at a 5.6% CAGR. By the end of the forecast period, electronics cleaning solvents in this industrial degreaser process would record a value of over US$ 600 Mn. However, this share in the market is likely to weaken gradually, despite being a preferable cleaning process in the electronics industry. Meanwhile, the separated co-solvent process, which uses formulated hydrocarbon solvents as cleaning agents, is utilized extensively in the printed circuit board (PCB) industry, owing to its better cleaning outcomes.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Electronics Cleaning Solvents Market Analysis 2019 - 2029
A recent market study published by FMI on the electronics cleaning solvents market includes global industry analysis 2014-2018 and opportunity assessment 2019-2029, and delivers a comprehensive assessment of the market dynamics. After a thorough research on the historical as well as current growth parameters of the electronics cleaning solvents market, the growth prospects of the market are obtained with maximum precision.
Electronic Cleaning Solvents Market Taxonomy
Product Type
- Formulated Hydrocarbon Solvents
- Glycols & Glycol Ethers
- Fluorinated Solvents
- Brominated Solvents
- Light Petroleum Distillates
Cleaning Process
- Vapor Phase Degreasers
- Vacuum Cleaning
- Mixed Co-solvents
- Separated Co-solvents
- Semi-aqueous
Region
- North America
- LAMEA
- Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
What's Included
Executive summary of the electronics cleaning solvents market with a side focus on the supply side as well as demand side trends of the market.
The market overviews includes the market definition and taxonomy to give the reader a market description of electronics cleaning solvents.
Factors and strategies adopted by key market participants, which have a significant impact on the electronics cleaning solvents market.
Market volume projection in terms of consumption over the forecast period of 2019-2026.
This section helps the reader analyze pricing trends owing to the necessary assumptions.
This section helps the reader understand the global market value analysis and forecast for the electronics cleaning solvents market.
Key macroeconomic factors, value chain, market participants, and consumptions & production are the highlights of this chapter.
Based on product type, the electronics cleaning solvents market is segmented into formulated hydrocarbon solvents, glycols & glycol ethers, fluorinated solvents, brominated solvents, and light petroleum distillates.
This chapter explains how the electronics cleaning solvents market will grow across various geographic regions.
Deep-dived analysis on the basis of segments to the country level of the U.S and Canada.
Deep-dived analysis on the basis of segments to the country level of Latin America and MEA.
Important growth prospects of the electronics cleaning solvents market based on its end users in regions such as Western and Eastern Europe are included in this chapter.
Market analysis in China, ASEAN, South Korea, Taiwan, and Rest of APEJ as they are the prominent countries in the Asia Pacific Excluding Japan region.
Analysis of the electronics cleaning solvents market in Japan during the forecast period.
Some of the market players featured in the report are Asahi Glass Co. Ltd., 3M, LyondellBasell Industries Holdings B.V, Honeywell International Inc., Albemarle Corporation, Dow Chemical Company, and Chemours Company, among others.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the electronics cleaning solvents market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the electronics cleaning solvents market.
How the research was conducted?
Primary Research
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Distributors
- Traders
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
Secondary Research
- Industry Publications
- World of Chemicals
- Chemical Weekly
- Chemical Engineering World, etc.
- Industry Associations
- The European Chemical Industry Council
- The American Chemical Society
- China Chemical Society
- Indian Chemical Council
- Factiva
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits
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Harish Tiwari
Global Head - Business Development
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