July 19, 2022 09:05 ET | Source: Research Dive Research Dive
New York, USA, July 19, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global electrostatic discharge packaging market [WU1] is anticipated to generate a revenue of $7,086.70 million and grow at a CAGR of 8.31% over the estimated timeframe from 2022 to 2030.
As per our analysts, with 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 increasing 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.
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Segments of the Electrostatic Discharge (ESD) Packaging Market
The report has divided the market into segments based on product type, end-user, and region.
Product Type: Bags Sub-Segment to be Most Profitable
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 dissipating 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 uplift the growth of the market 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.
Region: North America Region to Hold the Highest Share of the Market
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.
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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 shut down 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.
Key Players of the Market
The major players of the electrostatic discharge (ESD) packaging market include
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position 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. Inquire here to get access foe the key manufacturers' Development Strategic Report.
In addition, the report also presents other important aspects including SWOT analysis, the financial performance of the key players, product portfolio, and the latest strategic developments.
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