Electronic Cleaning Solvents Competitive Market Share & Forecast, 2016 – 2024
Cleaning is essential in electronics manufacturing at different steps like before stenciling and soldering. After stenciling, cleaning is used to eliminate excess solder, and after soldering cleaning is used to remove contaminants. It is essential to remove solder fluxes in electronic devices manufacturing and degreasing is equally important for electronic devices. These all stages in the electronics manufacturing will push the demand for electronic cleaning solvents.
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Electronic cleaning solvents are coming up as a fast-drying solvent that can be used effectively for quick and efficient cleaning of the electronic components. It is also used in the cleaning of switches, alarms, connectors, relays, terminal plugs, and other products. Electronic cleaning solvents can be used at any stage in the electronics devices manufacturing like servicing, repair or production.
Electronic gadgets have become an essential part of daily lives and this sector has grown at a rapid pace during last decade and is expected to depict a similar drift over the coming years. Increasing automation and digitalization has propelled the electronic industry and in turn will fuel the global electronic cleaning solvents market during the forecast period. rising population, rising middle class incomes are some of the factors expected to drive the global electronic cleaning solvents in developing regions.
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North America contributes major portion in terms of value in the global electronic cleaning solvents market. Well established electronics industry and the high level of automation in the countries like US makes this region a significant contributor in the electronic cleaning solvents market. North America is projected to expand at a decent growth rate in the market during the forecast period.
Asia Pacific is expected to be a prominent region in terms of growth in electronic cleaning solvents market. Increasing population and rise in disposable income of youth has surged electronics equipment and devices market in this region. Asia Pacific is anticipated to contribute significantly in terms of revenue till 2024 for electronic cleaning solvents. Europe is anticipated to follow the similar growth trend of Asia Pacific in the global electronic cleaning solvents market.
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The increase in deployments of electronic devices in cars, trucks and other commercial vehicles will pave the way for electronic cleaning solvents in this region.
CRC Industries, Inc, PERMATEX, Miller-Stephenson Chemical Co, 3M Company, LPS Laboratories, Fujifilm NDT Systems, ELECTROLUBE, Aervoe, A.W. Chesterton Company are some of the major manufacturers of electronic cleaning solvents.
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