Electronic Cleaning Solvents Market to Witness Increase in Revenues by 2017 – 2027

Written by XploreMR

Growing
preference of consumers towards the adoption of high-end electronic equipment
and their rising penetration are dynamics on which the vendors of the related
markets are likely to capitalize on. The players in the market are thus looking
for ways to differentiate their products from their competitors in order to
enhance their market base and also sustain in the competitive market in the
long run. The demand for these electronic
cleaning solvents
is likely to rise in the future owing to the high
usage of vulnerable electronics and the need to maintain them properly.

Asia
Pacific is expected to lead the global electronic cleaning solvents market in
the long run. It has been further projected that the region will maintain its
reign by the end of the forecast period and also rise efficiently on the
backdrop of numerous factors. Some of the factors that can be credited with the
growth of the region are the rise in the disposable income of the consumers in
the region and high usage of electronic equipment in the region. This trend is
expected to gain traction in the forthcoming years, thus benefitting the market
for electronic cleaning solvents as well.

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Moreover,
the manufacturers in the region are focusing on better quality products in
order to adhere to the environment regulations which have been laid forward by
governments and several organizations. For instance, desirable product
characteristics such as minimal ozone depletion and minimal contribution to
global warming have been a key focus are of manufacturers during new product
development. Electronics Cleaning Solvents such as hydrofluorocarbons (HFCs)
are being considered for phasedown under global treaties such as the Montreal
Protocol on account of their high global warming potential, as well as being
restricted by various national regulatory bodies. Moreover, growth in
industrial automation and the growing production of electronic goods will pave
way for a growth in the demand for electronic cleaning solvents.

Growth in the European automotive
industry to bode well for the electronic cleaning solvents market in the region

Automotive
industry plays a crucial role in Europe’s fortune, accounting for around 6.3%
of the region’s GDP. Europe is among the world’s primary producers of motor
vehicles with clean production. European vehicles are the cleanest, safest and
quietest in the world. Vehicle manufacturing is the strategic industry in the
Europe, where almost 18.5 Mn vehicles are manufactured annually. Moreover,
automotive industry represents one of the largest private investors in research
and development in Europe as well.

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Within
Europe, Germany is recognized as the economic powerhouse with its world class
R&D infrastructure, skilled workforce, and industrial value chain
integration from the electronics to automotive industry. These two industries
have a turnover of over half a trillion. Over 50% of the electronics chips
produced in the Europe are developed in Germany. These factors are expected to
drive the demand for electronic components from the automotive industry, which
in turn, is anticipated to drive the volume demand for electronics cleaning
solvents from the automotive industry in the long run.

 

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