Electrostatic Discharge (ESD) Packaging Market Estimated to Surpass $7,086.70 Million and Grow at 8.31% CAGR During the 2022-2030 Forecast Timeframe [250-Pages] | Reveals Research Dive
Electrostatic discharge (ESD) packaging market is predicted to grow at a healthy CAGR by 2030. Bags product-type sub-segment is expected to be highly dominant. Market in the North America region is expected to witness better growth opportunities by 2030.
NEW YORK, July 18, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Electrostatic Discharge (ESD) Packaging Market by Product Type (Bags, Trays, Boxes & Containers, ESD Foam, ESD Films, and Others), End-user (Network & Telecommunication Industry, Consumer Electronics & Computer Peripheral, Automotive Industry, Military & Defense, Healthcare, Aerospace, and Others), and Regional Outlook (North America, Europe, Asia-Pacific, And LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030".
According to the report, the global electrostatic discharge (ESD) packaging market is estimated to gather a revenue of $7,086.70 million by 2030, growing at a CAGR of 8.31% during the forecast period 2022-2030.
Dynamics of the Electrostatic Discharge (ESD) Packaging Market
Drivers: The growing adoption of electrostatic discharge (ESD) packaging in various end-use industries like defense and military, manufacturing, healthcare, automotive, etc. is the prime factor anticipated to drive the growth of the electrostatic discharge (ESD) packaging market during the forecast period. Moreover, organization's increasing investments in biodegradable ESD packages is yet another factor expected to boost the market growth by 2030.
Opportunities: ESD packages provide safety to the electronic items from inflammable gases and liquids and are widely used in several end-use industries to transfer products from one place to another. This factor is predicted to offer abundant growth opportunities for the global electrostatic discharge (ESD) packaging market by 2030.
Restraints: High cost of electrostatic discharge packages is the prime factor projected to impede the market growth.
Covid-19 Impact on the Electrostatic Discharge (ESD) Packaging Market
The outbreak of the covid-19 pandemic has had a negative impact on the global electrostatic discharge (ESD) packaging market. To curb the spread of the corona virus, governments across the world imposed strict lockdowns that led to the shutdown of most electronic industrial sites. Besides, labor shortages and lack of availability of raw materials also led to the reduced usage of ESD packaging in several end-use industries, thus hampering the market revenue amid the catastrophe chaos.
Segments of the Electrostatic Discharge (ESD) Packaging Market
As per the report, the market has been segmented into multiple segments based on product type, end-user, and regional analysis.
- By product type, the bags sub-segment is estimated to have the highest growth rate of 8.52% CAGR during the 2022-2030 forecast period. This growth is attributed to the wide utilization of electrostatic discharge bags since they provide protection to electronic items against ignition by dissipating the charge buildup. Moreover, manufacturers' growing focus on designing customizable ESD bags is yet another factor anticipated to bolster the sub-segment's growth by 2030.
- By end-user, the consumer electronics and computer peripheral sub-segment of the global electrostatic discharge (ESD) packaging market is expected to hold a significant market value and grow at 8.43% CAGR during the analysis timeframe. This growth is attributed to the wide utilization of ESD packages in the consumer electronics and computer peripheral industry to safely transfer electronic products from place to place.
- By region, market in the North America region is predicted to have the highest market share and grow at 7.76% CAGR during the 2022-2030 analysis years due to the growing adoption of technological devices in automobile and manufacturing industries that consequently boost the demand for ESD packaging for safe and protective transportation. Moreover, the presence of some prominent manufacturing companies of such materials is also projected to propel market growth in the North America region by 2030.
Key Electrostatic Discharge (ESD) Packaging Market Players
Some key electrostatic discharge (ESD) packaging market players are
- Conductive Containers Inc.
- Global STATCLEAN SYSTEMS
- Desco Industries
- PPG Industries
- Smurfit Kappa Group
- Tandem Equipment Sales Inc.
- TIP Corporation.
- BASF
- Elcom (UK) Ltd.
- DowDuPont
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth.
For example, in January 2021, EcoCortec, a Croatia-based bioplastics and anti-corrosion packaging company, announced its launch of the world's first biodegradable and static-dissipative bags and films to offer an eco-friendly yet sturdy packaging solution. The organization's creation is a great alternative to the conventional polyethylene ESD films.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about Electrostatic Discharge (ESD) Packaging Market:
- What are the Types of Electrostatic Discharge (ESD) Packaging?
- 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
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