New York, USA, June 08, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global electrostatic discharge packaging market is projected to register a revenue of $5,773.1 million at a CAGR of 8.7% during the forecast period (2019-2026), increasing from $2,984.0 million in 2019. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: ESD packaging market is gaining momentum since its demand has increased in recent years. ESD packaging is extensively used in industries such as defense & military, automotive, manufacturing, aerospace, and healthcare.
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ESD packaging is used to secure various products while transferring from one place to another. The packaging is used to prevent electrostatic or static electricity from damaging the products in transit. Apart from this, ESD packaging ensures safety of the products from inflammable gas and liquids. These are the factor enhancing the growth of the global electrostatic discharge packaging market.
Restraints: Unlike other anti-static bags, electrostatic discharge packaging comes at a higher price. Another restraining factor hampering the market growth is that the packaging is bulky in nature which makes it almost un-affordable.
Opportunity: With the growing concern regarding the climate change, biodegradable electrostatic discharge packages are expected to be in high demand, and thus create many opportunities in the market.
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Segments of the Market
The report has divided the market into different segments based on product type, end-user, and regional outlook.
• Product Type: Bags Sub-Segment Expected to be the Most Profitable
Bags sub-segment garnered a revenue of $873.8 million in 2019 and is further expected to record the highest revenue with a CAGR of 9.0% during the forecast period. The main factor behind this is that it safeguards the deliverables against inflammation by reducing the chances of charge build up.
• End-User: Consumer Electronics & Computer Peripheral Sub-Segment Expected to be the Most Profitable
Consumer electronics & computer peripheral sub-segment surpassed $1,247.90 million in 2019 and is further expected to lead the market with a remarkable CAGR of 8.8% by the end of 2027. ESD packages are extensively applied across the consumer electronics and computer peripheral industries because of the safety benefits such packages provide. This is the main factor boosting the market segment.
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• Regional Outlook: North America Expected to Dominate the Market
North America regional market reached a revenue of $392.2 million in 2019 and is further expected to grow at a CAGR of 11.9% during the forecast period. The factor enhancing the growth of the market is the presence of the major manufacturing industries and demand of electrostatic discharge packaging in those industries.
Key Players of the Market
1. Smurfit Kappa Group,
2. BASF
3. Desco Industries
4. DowDuPont
5. PPG Industries
6. TIP Corporation.
7. Conductive Containers Inc.
8. Elcom (UK) Ltd.
9. Tandem Equipment Sales Inc.
10. Global STATCLEAN SYSTEMS
In March 2021, Smurfit Kappa, a leading corrugated packaging company based in Europe, launched a newly-designed integrated packaging system with a close collaboration with Signify, the world leader in connected LED lighting systems. The system is created with the BioShift UV-C Chamber Case, used to ship and transport UV-C lights that have significant antibacterial properties. This packaging solution is made of 100% mono-material paper.
Impact of Covid-19 on the Industry
The report also provides an elaborative impact analysis of the coronavirus pandemic on the ESD packaging industry. As per the analysis, the market has experienced a drastic downfall during the forecast period. Because of the worldwide lockdown and restrictions on the supply chain, the manufacturing and electronic production industries were shut down. Even after the relaxation of the lockdown regulations, these industries are facing trouble in operational works due to the labor shortage and unavailability of raw materials.
The report also discusses the other important aspects of the market including SWOT analysis, financial performance of the key players, product portfolio and recent strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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