Dublin, Aug. 09, 2022 (GLOBE NEWSWIRE) — The report “Electrical Contact Cleaners Market – A Global and Regional Analysis: Focus on Application, Product, Feature and Region – Analysis and Forecast, 2022-2031” has been added to from ResearchAndMarkets.com offer.
Global Electrical Contact Cleaners Market was valued at USD 561.41 Million in 2021 which is expected to grow with a CAGR of 6.45% and reach USD 1,022.21 Million by 2031
The growth of the global electrical contact cleaners market is expected to be driven by the increase in safety risks due to the presence of electrical resistance on the contact surfaces caused by dirt, grease, oil and others. The presence of volatile organic compounds (VOCs) in electrical contact cleaners is the major limiting factor in the industry.
Market life cycle stage
The market for electrical contact cleaners is in the development phase. Growing demand for non-ozone depleting cleaners is expected to drive the market growth. Additionally, growing health issues and government regulations related to the presence of volatile organic compounds are expected to hamper the growth of the electrical contact cleaner market.
Impact
Electrical contact cleaners are used to protect the device against untimely failure during its life cycle due to the presence of oil, dirt, grease and the like, as these increase the electrical resistance on the contact surface. The potential for current flowing can affect device performance and lead to safety hazards. Increased focus on preventing safety hazards offers significant growth opportunities for the electrical contact cleaners market.
Impact of COVID-19
The impact of COVID-19 on the electrical contact cleaners market has been moderate. Due to a temporary shutdown of manufacturing units in different regions of the world, the production volume has decreased. Also, opening of markets post COVID-19 and increased operations of MRO industries are expected to bring significant growth to the market.
Market segmentation
The battery terminal segment dominated the electrical contact cleaners market in 2021 and is the largest segment due to the growing applications of electrical contact cleaners in industries such as automotive, manufacturing, aviation and others for the removal of dirt, grease, corrosion and the like. contaminations.
The non-flammable segment dominates the electrical contact cleaner market and is the largest segment due to the adverse effects and handling risks associated with flammable electrical contact cleaners.
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, distribution boards, connectors and other parts.
Asia-Pacific is the fastest growing region due to the presence of electronics manufacturers. In addition, the growing maintenance, repair and operation industry is expected to drive the region’s growth in the electrical contact cleaners market.
Growth/marketing strategy
Business expansion, partnership, collaboration and joint venture are some of the key strategies adopted by major players operating in the space.
For example, in May 2021, Henkel AG & Co. KGaA announced the construction of an innovation center for the adhesive technologies segment in Shanghai. The new location would help the company strengthen its portfolio of adhesive technologies in the region, thereby driving the growth of the electrical contact cleaner market.
Key Market Players and Competition Summary
The companies profiled have been selected based on information gathered from leading experts and analysis of company coverage, product portfolio and market penetration.
Some of the most prominent established names in this market are:
- Henkel AG & Co. KGaA
- 3M
- Chimtronics
- Ulbrich Group
- Techspray
- WD-40
- Sprayway Inc.
- Spray
- Chem-Verse Consultants (India) Private Ltd.
- MG Chemicals
- Aerol Formulations Private Limited
- WEICON GmbH & Co. KG
- Valvoline Inc.
- CRC Industries
- Penray Inc.
- AK Information Tools
- MRO Infra LLP
- AABCOOLING LLC
- Guangzhou VESLEE Chemical Co.,Ltd.
- Akfix
Main topics covered:
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Industry Dynamics Defining Future Electrical Contact Cleaner Market Trends
1.1.1.1 Material properties and improved compatibility
1.1.1.2 Regulations regarding the reduction of ozone-depleting chemicals and volatile organic compounds (VOCs)
1.1.1.3 Growing trend for online cleaning
1.1.2 Supply chain network
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortia and Associations
1.1.3.2 Industry standards, regulatory lists and laws
1.2 Commercial dynamics
1.2.1 Commercial factors
1.2.1.1 Improved performance of electrical and electronic equipment
1.2.1.2 Growing Demand for Consumer Electronics Globally
1.2.1.3 Increase in use in automotive industry
1.2.2 Business challenges
1.2.2.1 Presence of volatile organic compounds (VOCs) in electrical contact cleaners
1.2.2.2 Use of flammable chemical compounds
1.2.3 Business strategies
1.2.3.1 Product development
1.2.3.2 Market development
1.2.4 Business opportunities
1.2.4.1 Increased focus on developing non-flammable products
1.2.4.2 Growing Use in MRO Industry
1.3 Startup Landscape
1.3.1 Key ecosystem start-ups
1.4 Impact of COVID-19 on the Electrical Contact Cleaners Market
2 Application
2.1 Electrical Contact Cleaner Market – Applications and Specification
2.1.1 Connectors
2.1.2 Switches
2.1.3 Battery terminals
2.1.4 Circuit boards
2.1.5 Others
2.2 Electrical Contact Cleaners Market – Demand Analysis (by Application), Value, 2021 – 2031
3 Products
3.1 Electrical Contact Cleaner Market – Products and Specification
3.1.1 Flammable
3.1.2 Non-flammable
3.2 Electrical Contact Cleaners Market – Demand Analysis (by Product), Value, 2021-2031
3.3 Electrical Contact Cleaner Market- Feature and Specification
3.3.1 Removal of dust and particles
3.3.2 Removal of oil and grease
3.3.3 Corrosion resistance
3.3.4 Others
3.4 Electrical Contact Cleaners Market – Demand Analysis (by Functionality), Value, 2021-2031
3.5 Product Benchmarking: Growth Rate – Market Share Matrix, 2021
3.6 Patent Analysis
4 Regions
4.1 North America
4.1.1 Markets
4.1.1.1 Major Manufacturers/Suppliers in North America
4.1.1.2 Business challenges
4.1.1.3 Commercial factors
4.1.2 Application
4.1.2.1 North America Electrical Contact Cleaner Market (by Application), Value, 2021 – 2031
4.1.3 Products
4.1.3.1 North America Electrical Contact Cleaner Market (by Product), Value, 2021 – 2031
4.1.3.2 North America Electrical Contact Cleaner Market (by Feature), Value, 2021- 2031
4.1.4 Country
4.1.4.1 North America Electrical Contact Cleaner Market (by Country), Value, 2021 – 2031
4.1.4.2 North America Electrical Contact Cleaner Market (by Country), Volume, 2021 – 2031
4.1.5 North America: Country Level Analysis
4.2 Europe
4.3 United Kingdom
4.4 China
4.5 Asia-Pacific and Japan
5 Markets – Competitive Benchmarking and Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Market Share Analysis
5.1.3 Major Companies Product Matrix
5.2 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/eww0qi
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Global Electrical Contact Cleaner Market
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