DUBLIN--(BUSINESS WIRE)--The "Cleanroom Consumables Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The global cleanroom consumables market is expected to grow at a CAGR of over 8% during the forecast period 2018-2024.
The global cleanroom consumables market is set to display impressive growth during the forecast period with some key trends emerging, such as the increased diversity of substrate materials driven by continuously evolving end-user expectations and the rise of industry 4.0 and IoT.
Further, specialized manufacturing and high-tech R&D, which was once a stronghold of the US and a few European economies such as France, Nordics, and Germany, is set to expand in emerging economies with the next-generation large-scale manufacturing centers to be planned predominantly in the APAC region.
The same is likely to be significantly complemented by an overwhelming rise in global automation expenditure that eventually warrants the need for sensors, power tools, and IoT interfaces, all of which can offer significant employment of cleanroom over a medium to long-term while ramping up the end-user industries' efficiencies manifold.
Cleanroom Consumables Market: Segmentation
This research report includes detailed market segmentation by product type, end-use, and geography. The cleanroom consumables market by the electronics and semiconductor industry is expected to grow at a CAGR of over 7% during the forecast period. The growing demand for sensors, ICs, and electronic components in emerging technologies such as the Internet of Things (IoT), cloud computing, Virtual Reality (VR), Artificial Intelligence (AI), 3D printing and Office automation (IT & OA) is a key driver for the strong forecast of semiconductor equipment.
The growing demand for energy-efficient, environmental-friendly smart home appliances is expected to have the growth of semiconductor devices, which will lead to the growth of semiconductor fabrication facilities, thereby underpinning the cleanroom consumables market.
Strict safety regulations imposed by the WHO, OSHA, FDA are expected to be the principal growth driver for the global cleanroom consumables market. The US, China, South Korea, and Taiwan are likely to boost the growth of the worldwide cleanroom apparel market during the forecast period. APAC dominates the cleanroom apparel market.
The region is expected to witness the highest growth during the forecast period. The highest CAGR can be attributed to the growing demand for new setups, as well as the increase in semiconductor and microprocessor fabrication units from several countries, including China, Taiwan, Singapore, South Korea, and Japan.
Key Vendor Analysis
The global cleanroom consumables market is highly fragmented, with vendors offering their products at varying prices. Major vendors continually compete among themselves for the leading position in the market, with occasional spurts of competition coming from other local vendors.
Further, companies with better technical and financial resources can develop innovative products, which could pose a threat to competitors' products and could make their product non-competitive and even obsolete before they can recover the R&D and commercialization costs. Therefore, vendors should develop new technologies and remain abreast of the upcoming technologies to retain a competitive edge over other vendors.
Many global players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC and Latin America, to gain more market share. Besides, improving global economic conditions would fuel the growth of the market, thereby increasing the market attractiveness for new product launches.
Market Growth Enablers
- Rise in Fab Facilities in APAC
- Resurgent Pharmaceutical Growth in China and India
- Emergence of New Biologics
- Advent of the Fourth Industrial Revolution
Market Growth Restraints
- Volatile Trade Relations in International Markets
- Volatility in Raw Material Prices
- Rising Fabrication Costs Looms Microelectronics Industry
- Market Risks and High Degree of End-user Variability
Market Opportunities and Trends
- Evolving Cleanroom Standards Imposing Stringent Norms
- Shrinking Size of Microchip and Precision Engineering
- Demand for Cleanroom Consumables in the Food Processing Industry
Key Company Profiles
- Business Overview
- Major Product Offerings
- Key Strengths
- Key Strategies
- Key Opportunities
- Illinois Tools Works (ITW)
- Berkshire Corporation
- Aramark Corporation
Other Prominent Vendors
- Micronova Manufacturing
- Blue Thunder Technologies
- Riverstone Holdings
- Prudential Overall Supply
- KM Corporation Company
- PLX Industries
- Thermo Fisher Scientific
- Cardinal Health
- Bolle Safety
- Vileda Professional
- Canada Clean Room
- Foamtec International
- High Tech Conversions
- Perfex Corp
- Veltek Associates
- Synergy Health
- VWR international
For more information about this report visit https://www.researchandmarkets.com/r/9r5v53