Electrostatic discharge (ESD) foams are type of anti-static packaging materials used extensively for the shipping and storage of semiconductor and electronics components to prevent damage from ESD damage. ESD foams are incorporated with anti-static agents for ESD components and are manufactured using the anti-static agents, which aids in generating the static charges. Majorly, ESD foams help in not generating the static electricity that can be generated due to the friction between electrical components when in motion. A number of packaging companies across the globe have been formulating foams of different vibration control capabilities and density to meet the several demands of shipping of electronics components.
COVID-19 Impact on Electrostatic Discharge (ESD) Foams Market
The outbreak of COVID-19 across the globe has unfavorably impacted the global electrostatic discharge (ESD) foams market growth. The global market suffered due to the lockdown restrictions as most of the manufacturing plants of electronic devices were shut down during the outbreak of coronavirus. Besides, the production of electronic devices was obstructed owing to the shortage of labor, raw material supply, and other issues. All these factors had a direct impact on the drastic decline in demand for ESD foams and consequently negative impact on the global market growth during the pandemic period.
However, the electrostatic discharge (ESD) foams market is predicted to increase post the coronavirus restriction eases, owing to the increasing demand for electronic components across the globe.
Electrostatic Discharge (ESD) Foams Market Trends and Developments
The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global electrostatic discharge (ESD) foams market growth in the upcoming years.
For instance, in March 2019, Transcendia, the US-based custom-engineered materials manufacturer, completed the acquisition of Purestat Engineered Technologies, a leading manufacturer of electrostatic dissipative (ESD) active packaging solutions. Transcendia, with this acquisition, has expanded its portfolio with the addition of anti-static ESD formulations & multi-layer extrusion and lamination capabilities. The aim of the company behind this acquisition is to strengthen its active packaging as well as barrier film platforms.
In February 2021, PPG Industries, a global manufacturer of paints, coatings, & specialty materials, completed the acquisition of acquisition of VersaFlex from DalFort Capital Partners, which specializes in polyurea, polyurethane, and epoxy coatings for water & wastewater infrastructure, transportation, flooring, and industrial applications.
Forecast Analysis of Global Market
The global electrostatic discharge (ESD) foams market is projected to witness an exponential growth over the forecast period, owing to the rising investments in biodegradable ESD package by various companies across the globe. Conversely, the high costs of ESD packages and its bulky nature are expected to hamper the market growth in the projected timeframe.
The rising demand for ESD foams from various industries such as automotive, consumer electronics, and many others, and the business expansion and acquisitions by key market players worldwide are the significant factors and electrostatic discharge (ESD) foams market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global Electrostatic Discharge (ESD) Foams Market is expected to garner $895.2 million during the forecast period (2021-2030). Regionally, the North America region is estimated to hold the highest market share by witness 2030, owing to the increasing adoption of technological devices in automobile and manufacturing industries in the region, which has consequently boosted the transportation need of these devices and the adoption of foams to protect them from getting damaged.
The key players functioning in the global market include Smurfit Kappa Group, Desco Industries, BASF, DowDuPont, TIP Corporation, PPG Industries, Conductive Containers Inc., Tandem Equipment Sales Inc., Elcom (UK) Ltd., and Global STATCLEAN SYSTEMS.