Electronic Cleaning Solvents Market: Introduction
Electronic cleaning solvents are used to remove small and micro-contaminants. Electronic cleaning solvents are manufactured from the key solvents such as fluorinated solvents, brominated solvents, formulated hydrocarbon, and glycol & glycol ethers. Electronics cleaning solvents offer key properties include rapid evaporations rates and effectively removes grease, oil, dirt, residue, and, moist fluxes. Electronic cleaning solvents are used to remove inks, solder particles, and organic & inorganic particles. The easy cleaning applications of electronic cleaning solvents provide excellent advantages to the water-based cleaners due to the easy soluble properties. Water-based electronic cleaning solvents possess nonflammable properties, very low toxicity, and no VOC content. The technological development in the solvent industries offering advance and excellent surfactant free systems based on glycols. These glycol-based cleaners are very effective in cleaning oil, dirt, and strains require minimal cleansing. Most of the cleaning solvents contain concentrated forms of inbuilt corrosion inhibitors. Aqueous cleaners utilize surfactant technology to remove contaminants from the printed circuit board (PCB). Electronic cleaning solvents are used for cleaning devices such as alarms, switches, and terminal pugs.
Increase in consumer demand for electronic devices, equipment, and gadgets across the globe is projected to propel the electronic cleaning solvents market in the next few years. Growth of the electronic industry in the last few years has fuelled the demand for effective cleaning solvents in the electronics industry. Increase in adoption of substitutes of solvent cleaners and the presence of chlorofluorocarbons (CFC) and hydro-fluoro ether (HFE) in a few solvents are likely to hamper the market.
Electronic Cleaning Solvents Market: Segmentation
Based on product type, the global electronic cleaning solvents market can be segmented into glycol & glycol ethers, brominated solvents, fluorinated solvents, formulated hydrocarbon solvents, and others. The fluorinated solvents segment is projected to hold a dominant share of the market during the forecast period. Electronic cleaning solvents are majorly used in electronic industry due to effective fast drying properties. Electronic cleaning solvents are precisely formulated for quick and efficient cleaning purposes. This, in turn, is projected to fuel the product demand for electronic cleaning solvents in the next few years. In terms of application, the market can be divided into equipment manufacturing, servicing, and repair. The equipment manufacturing segment is expected to hold a major share of the electronic cleaning solvents market during the forecast period.
Electronic Cleaning Solvents Market: Regional Outlook
Based on region, the global electronic cleaning solvents market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific is projected to hold a major share of the market during the forecast period. Asia Pacific has a prominent electronic industry, especially in countries such as China, South Korea, and Taiwan. This, in turn, is anticipated to fuel the market in the region during the forecast period. China has become a hub global hub for the electronic industry in the past few years. This is projected to propel in the market at a significant pace in the next few years. The market in North America and Europe are expected to expand at a moderate pace in the market during the forecast period. The U.S. is a technologically advanced country owing to the presence of electronic companies that offer modern devices and equipment across the globe. The electronic cleaning solvents market in Latin America and Middle East & Africa is also likely to expand at sluggish pace owing to the limited presence of infrastructure, technology, and companies in the region.
Electronic Cleaning Solvents Market: Key Players
A large number of companies operate in the global electronic cleaning solvents market. Some of the prominent manufacturers operating in the market include Honeywell International Inc., LyondellBasell Industries Holdings B.V., Albemarle Corporation, Miller-Stephenson, Inc., A.W. Chesterton Company, and CRC Industries.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.