Electrostatic Discharge (ESD) Packaging Market to Garner $7.1 Billion, Globally, By 2030 at 8.31% CAGR, Says Allied Market Research
ESD packaging is secure for packing electronic items and keeping them safe, which is expected to drive the growth of the global electrostatic discharge (ESD) packaging market.
PORTLAND, Ore., July 25, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Electrostatic Discharge (ESD) Packaging Market by Product Type (Bags, Trays, Boxes & Containers, ESD Foam, ESD Films, Others), by End-user (Network and Telecommunication Industry, Consumer Electronics & Computer Peripheral, Automotive Industry, Military and Defense, Healthcare, Aerospace, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, the global electrostatic discharge (ESD) packaging industry generated $3.5 billion in 2021, and is anticipated to generate $7.1 billion by 2030, witnessing a CAGR of 8.31% from 2022 to 2030.
Prime determinants of growth
ESD packaging is secure for packing electronic items and keeping them safe, which is expected to drive the growth of the global electrostatic discharge (ESD) packaging market. However, high cost of the packaging material restricts the market growth. On the other hand, rise in demand for these packages from various end-use sectors such as defense and military, automotive, healthcare, industrial, and aerospace presents new opportunities in the coming years.
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Covid-19 Scenario
- The outbreak of the Covid-19 pandemic has had a negative impact on the global electrostatic discharge (ESD) packaging market, owing to implementation of the global lockdown, which closed all the electronics manufacturing hubs.
- In addition, supply chain disruption, labor shortages, raw material shortages, and other obstacles inhibited the manufacturing of electrical devices.
The bags segment to maintain its leadership status throughout the forecast period
Based on product type, the bags segment held the highest market share in 2021, accounting for more than one-fourth of the global electrostatic discharge (ESD) packaging market, and is estimated to maintain its leadership status throughout the forecast period. This is owing to high security provided by ESD bags while transporting electronic products from one place to another. However, the ESD films segment is projected to manifest the highest CAGR of 8.9% from 2022 to 2030, due to usage of ESD films for transportation and protection of electronic devices.
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The consumer electronics & computer peripheral segment to maintain its lead position during the forecast period
Based on end user, the consumer electronics & computer peripheral segment accounted for the largest share in 2021, contributing to around two-fifths of the global electrostatic discharge (ESD) packaging market, and is projected to maintain its lead position during the forecast period. This is attributed to rise in demand and usage of electronic items among people. However, the automotive segment is expected to portray the largest CAGR of 9.1% from 2022 to 2030. Many parts in automotive sector such as the semiconductor, fuel tank, and many other components in automobile requires protection from static discharge, which in turn, has increased demand for ESD packaging in automotive sector.
North America to maintain its dominance by 2031
Based on region, North America held the highest market share in terms of revenue 2021, accounting for around one-third of the global electrostatic discharge (ESD) packaging market. This is attributed to significant growth in automobiles, aerospace, and computer industry in the U.S., Canada, Mexico and many more countries. However, the Asia-Pacific region is expected to witness the fastest CAGR of 9.3% from 2022 to 2030. Owing to increasing industrialization in the region, the demand for safe and secure packaging such as ESD packaging has increased. This, in turn, triggered the market growth considerably.
Leading Market Players: -
- Smurfit Kappa Group
- PPG Industries, Inc.
- TIP Corporation
- Conductive Containers Inc.
- Elcom (UK) Ltd.
- Tandem Equipment Sales Inc.
- Global Statclean Systems
- Desco Industries
- DowDuPont
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