The growth in the global electrical contact cleaner market is expected to be driven by rising safety hazards due to the presence of electrical resistance on the contact surfaces caused by dirt, grease, oil, and others.
New York, July 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Electrical Contact Cleaner Market - A Global and Regional Analysis: Focus on Application, Product, Functionality, and Region - Analysis and Forecast, 2022-2031" - https://www.reportlinker.com/p06291292/?utm_source=GNW
The presence of volatile organic compounds (VOCs) in electrical contact cleaners is the key restraining factor in the industry.
Market Lifecycle Stage
The electrical contact cleaner market is in the developing phase.The rising demand for non-ozone-depleting cleaners is expected to provide growth to the market.
Further, the rising health concerns and government regulations related to the presence of volatile organic compounds are expected to hamper the growth of the electrical contact cleaner market.
Electrical contact cleaners are used to protect the device from untimely failure during its lifecycle due to the presence of oil, dirt, greases, and others, as these increase the electrical resistance on the contact surface.The current flowing potential can affect the device’s performance and lead to safety hazards.
An increase in focus on the prevention of safety hazards brings significant growth opportunities for the electrical contact cleaner market.
Impact of COVID-19
The impact of COVID-19 on the electrical contact cleaners market was moderate.Due to a temporary shutdown of the manufacturing units across different regions of the world, the volume of production declined.
Further, the opening of the markets post-COVID-19 and rising operations of the MRO industries are expected to provide significant growth to the market.
Segmentation 1: by Application
• Battery Terminals
• Circuit Boards
The battery terminals segment dominated the electrical contact cleaner market in 2021 and is the largest segment due to the rising applications of electrical contact cleaners in industries such as automotives, manufacturing, aviation, and others for the removal of dirt, grease, corrosion, and other contaminations.
Segmentation 2: by Product
The non-flammable segment dominates the electrical contact cleaner market and is the largest segment owing to adverse effects and handling risks associated with flammable electrical contact cleaners.
Segmentation 3: by Functionality
• Dust and Particulate Removal
• Oil and Grease Removal
• Corrosion Resistance
The corrosion removal segment dominated the electrical contact cleaner market in 2021 and is the largest segment owing to growing demand from end-use industries such as MRO, automotive, consumer electronics, etc., to remove corrosion from battery terminals, switchboards, connectors, and other parts.
Segmentation 4: by Region
• North America - U.S., Canada, and Mexico
• Europe - Germany, France, Italy, Spain, and Rest-of-Europe
• Asia-Pacific and Japan - Japan, South Korea, India, Australia, and Rest-of-Asia-Pacific and Japan
• Rest-of-the-World - Middle East and Africa, South America
The Asia-Pacific region is the fastest-growing region due to the presence of electronics manufacturers. Also, the rising maintenance, repair, and operations industry is expected to boost the region’s growth in the electrical contact cleaner market.
Recent Developments in Global Electrical Contact Cleaner Market
• In June 2019, Penray Inc. introduced a professional contact cleaner for the precision removal of harmful deposits and debris from electronic components.
Demand - Drivers and Limitations
Following are the demand drivers for the electrical contact cleaner market:
• Performance Enhancement of Electrical and Electronic Equipment
• Rising Demand for Consumer Electronics Worldwide
• Increasing Usage in the Automobile Industry
The market is expected to face some limitations too due to the following challenge:
• Presence of Volatile Organic Compounds (VOCs) in Electrical Contact Cleaners
• Use of Flammable Chemical Compounds
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different types of properties and functionalities available for electrical contact cleaners and the potential of these cleaners globally. Moreover, the study provides the reader with a detailed understanding of the different electrical contact cleaner applications such as connectors, switches, battery terminals, circuit boards, and others (relays, scales, etc.).
Growth/Marketing Strategy: Business expansion, partnership, collaboration, and joint venture are some of the key strategies adopted by the key players operating in the space.For instance, in May 2021, Henkel AG & Co.
KGaA announced the construction of an innovation center for the adhesive technologies segment in Shanghai. The new site would help the company to strengthen its adhesive technologies portfolio in the region, thereby driving the growth of the electrical contact cleaner market.
Competitive Strategy: Key players in the global electrical contact cleaners market analyzed and profiled in the study involve the manufacturers of the electrical contact cleaners.Moreover, a detailed competitive benchmarking of the players operating in the global electrical contact cleaner market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.
Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysis of company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
• Henkel AG & Co. KGaA
• Ulbrich Group
• Sprayway Inc.
• Chem-Verse Consultants (India) Private Ltd.
• MG Chemicals
• Aerol Formulations Private Limited
• WEICON GmbH & Co. KG
• Valvoline Inc.
• CRC Industries
• Penray Inc.
• AK Info Tools
• MRO Infra LLP
• AABCOOLING LLC
• Guangzhou VESLEE Chemical Co., Ltd.
• North America
• Asia-Pacific and Japan
• South Korea
• Rest-of-Asia-Pacific and Japan
• South America
• Middle East and Africa
Read the full report: https://www.reportlinker.com/p06291292/?utm_source=GNW
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