Electronic Cleaning Solvents Market Growth, Size, Share, Trends, and Forecast 2032

Electronic Cleaning Solvents Market: Industry Perspective

The global Electronic Cleaning Solvents market size accrued earnings worth approximately USD 1209.35 Million in 2023 and is predicted to gain revenue of about USD 2,043.17 Million by 2032, is set to record a CAGR of nearly 6.0% over the period from 2024 to 2032. Electronic cleaning solvent is a fast-drying solvent specially formulated for quick and efficient cleaning of electrical equipment. It is a substitute for CFC solvents that were used earlier in electro lube products. These solvents are 100% ozone-friendly and residue free.

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Electronic Cleaning Solvents Market Growth Dynamics

The major factor that is likely to support the growth of the electronic cleaning solvents market globally in the future is the rapid expansion of the electronics industry. The rapidly developing electronic industry globally is fueling the manufacturers’ need to develop various products that can address the various requirements of the end-users. Additionally, the manufacturers are also trying to develop a drying solvent to be proficiently used for quick and effective cleansing of different electronic parts. Electronic cleaning solvents are used for cleaning connectors, switches, alarms, relays, terminal plugs, etc. Electronic cleaning solvents are used at several phases of electronics equipment manufacturing, such as servicing, repair, production, etc.

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The growing automation and digitalization will steer the growth of the electronics industry, which, in turn, is expected to fuel the growth of the global electronic cleaning solvents market over the estimated timeline. Increasing population and rising incomes of the middle-class groups are other major factors predicted to drive the electronic cleaning solvents market globally in the future. However, the growth of the substitute market might restrain the global electronic cleaning solvents market in the years ahead. Nonetheless, the rapid expansion of the electronics industry including consumer and industrial electronics is among the major driving factors of the electronic cleaning solvents market.

The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis. Moreover, the study covers the product portfolio of various companies.

Electronic Cleaning Solvents Market: Report Scope

Electronic Cleaning Solvents Market Segmentation Analysis

By product type, the market for electronic cleaning solvents can be segmented into glycols and glycol ethers, brominated solvents, fluorinated solvents, light petroleum distillates, and formulated hydrocarbon solvents. Based on the cleaning process, the electronic cleaning solvents market can be classified into the semi-aqueous process, separated co-solvent process, mixed co-solvent process, a vacuum cleaning process, and vapor phase degreased process.

The regional segmentation of the global electronic cleaning solvents market includes North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America was the largest market for electronic cleaning solvents in 2018 and held the largest market share in terms of both revenue and volume. 

Some key players in the global electronic cleaning solvents market are

• Honeywell International
• LyondellBasell Industries
• Albemarle Corporation
• Miller-Stephenson Chemical Co.
• A. W. Chesterton Company
• Aervoe
• Electrolube
• Fujifilm NDT Systems
• LPS Laboratories
• 3M Company
• CRC Industries
• BASF
• Dow Chemical
• and Permatex, among others.

This report segments the global electronic cleaning solvents market into:

Global Electronic Cleaning Solvents Market: Product Type Analysis

• Glycols and Glycol Ethers
• Brominated Solvents
• Fluorinated Solvents
• Light Petroleum Distillate
• Formulated Hydrocarbon Solvents 

Global Electronic Cleaning Solvents Market: Cleaning Process Analysis

• Semi-Aqueous Process
• Separated Co-Solvent Process
• Mixed Co-Solvent Process
• Vacuum Cleaning Process
• Vapor Phase Degreaser Process 

Global Electronic Cleaning Solvents Market: Regional Analysis

• North America
  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa