New York, USA, April 13, 2023 (GLOBE NEWSWIRE) -- According to Research Dive, the global electrostatic discharge (ESD) packaging market is estimated to generate a revenue of $7,086.70 million by 2030 and grow at CAGR of 8.31% over the forecast period (2022 to 2030). The comprehensive report provides a summary of the present market scenario comprising key aspects of the market, such as growth factors, lucrative growth opportunities, and restraining factors. Besides, the report provides all the global market trends, COVID-19 impact on the market, and market estimations making it easier, helpful, and useful for the new participants to understand the market.
Market Dynamics
The growing use of electrostatic discharge packaging in various end-use industries, such as aerospace, healthcare, defense and military, manufacturing, and many more, the electrostatic discharge (ESD) packaging market is predicted to experience exponential growth during the analysis period. Besides, the increasing demand for ESD packages to protect the products from inflammable liquids and gases is further expected to fortify the growth of the market during the forecast period. Moreover, the growing investments in biodegradable electrostatic discharge packaging by most of the leading companies are expected to create expansive growth opportunities for the electrostatic discharge (ESD) packaging market during the estimated period. However, the high cost of ESD packages may hamper the growth of the market throughout the analysis period.
COVID-19 Impact on the Electrostatic Discharge (ESD) Packaging Market
The rise of the novel coronavirus has had a negative impact on the growth of the electrostatic discharge (ESD) packaging market. This is mainly due to the shutdown of most of the electronic industrial sites because of stringent government-imposed lockdown. In addition, the lack of labor, raw material supply, and several other production issues have significantly declined the growth of the market during the pandemic period.
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Segments of the Market
The report has divided the electrostatic discharge (ESD) packaging market into a few segments based on product type, end-user, and regional analysis.
Product Type: Medium Sub-segment to be Highly Dominant
The bags sub-segment accounted for $1,021.50 million in 2021 and is predicted to grow at a CAGR of 8.52% during the forecast period. This is mainly because ESD bags are widely used to protect against ignition by dissolving charge build-up. In addition, the increasing focus on the designing of customized ESD packaging bags by the leading manufacturers for easy transportation is predicted to bolster the growth of the sub-segment over the analysis period.
End-user: Consumer Electronics & Computer Peripheral Sub-Segment to be Most Lucrative
The consumer electronics & computer peripheral sub-segment is predicted to rise at a CAGR of 8.43% during the estimated timeframe. The increasing use of ESD packages to transfer consumer electronic & computer peripherals from one place to another is expected to propel the growth of the market sub-segment during the forecast period.
North America Region to Witness Better Growth Opportunities
The North America region of the electrostatic discharge (ESD) packaging market accounted for $1,156.60 million in 2021 and is predicted to grow at a CAGR of 7.76% during the analysis timeframe. This is mainly due to the increasing adoption of technological devices in manufacturing and automobile industries in this region, Furthermore, the strong existence of a large number of manufacturing units of electrostatic-sensitive devices containing flammable liquids or gases in this region is expected to thrive the regional growth of the market over the forecast period.
Prominent Market Players
Some of the top players of the global electrostatic discharge (ESD) packaging market are
- BASF
- Smurfit Kappa Group
- DowDuPont
- Desco Industries
- PPG Industries
- Conductive Containers Inc.
- TIP Corporation
- Elcom (UK) Ltd.
- Global STATCLEAN SYSTEMS
- Tandem Equipment Sales Inc
These players are applying various strategies to gain a competitive edge and strong hold in the global industry.
For instance, in May 2022, Smurfit Kappa Group, a leading paper-based packaging company, acquired Atlas Packaging, a renowned and independent corrugated packaging provider. With this acquisition, the companies aimed to strengthen their ability to provide innovative and sustainable packaging solutions for customers across the UK market.
More about Electrostatic Discharge (ESD) Packaging Market:
- What is Electrostatic Discharge (ESD) Packaging and How Does it Work?
- Global Electrostatic Discharge (ESD) Packaging Market Growth to Increase Rapidly with Rising Demand for ESD Packaging in Electronics Industries
