VALLEY COTTAGE, NY – The global market for electronic cleaning solvents is expected to rise at a CAGR of 6.2% from 2017 to 2027, says Future Market Insights. The market is expected to be valued at around $ 1.608 billion by the end of the forecast period.
Solvents are engineered to dissolve common manufacturing greases, oils and fluxes from a range of electronic substrates more easily than aqueous detergent fluids, driving growth of the electronic cleaning solvents market globally.
The electronics industry has experienced rapid growth on account of rising demand for industrial and consumer electronic products, the firm says. This, in turn, fuels demand for cleaning solvents.
Asia Pacific is expected to lead the global electronic cleaning solvents market in the long run. The region will maintain its lead by the end of the forecast period, says Future Market Insights. Factors credited with growth in the region include the rise of disposable income of consumers and high use of electronic equipment there. This trend is expected to gain traction in the forthcoming years.