The Global Electrostatic Discharge (ESD) Foams Market Anticipated to Generate a Revenue of $895.2 Million, Growing at a CAGR of 9.5% from 2021 to 2030Download Sample Reports Overview
Electrostatic discharge (ESD) foams market is projected to reach $895.2 million by 2030 from $364.5 million in 2020, growing at a CAGR of 9.5% in the forecast period.
Impact Analysis of COVID-19 on the Electrostatic Discharge (ESD) Foams Market
The global electrostatic discharge (ESD) foams market has been negatively impacted by the coronavirus. Because of government laws, most electronic device manufacturing plants stopped down during the lockdown period, some permanently and others temporarily.
During the pandemic, this element has a substantial impact on the growth of the ESD foams market.
However, after COVID-19, the market for ESD foams is expected to grow. Post pandemic, increased global demand for electrical components is expected to boost market growth.
Global Electrostatic Discharge (ESD) Foams Market Analysis
In the forecast period, the high safety of electronic components and devices packed with ESD foams is expected to be the primary driving factor for the global Electrostatic Discharge (ESD) foams market. Electrostatic Discharge foams are widely regarded as one of the most effective foam products for protecting sensitive electrical equipment and electrostatic discharge. Furthermore, ESD foams materials have a high level of reliability in terms of preventing electronic component damage by continuously removing electrostatic current to keep products safe. ESD foams are more secure for packing finished goods and keeping them safe, which is expected to drive the global market during the forecast period. In addition, numerous end-use industries such as defense and military, automotive, and aerospace are growing their demand for these foams.
Electrostatic Discharge foams are thick and difficult to handle due to their size. Furthermore, the product's transportation cost rises as transportation providers charge according to the distance travelled. The global Electrostatic Discharge (ESD) foams market is expected to be hampered by these reasons over the forecast period.
In the near future, the ESD foams market is expected to grow due to the increased demand from the consumer electronics and computer peripherals, as well as the automotive industries. This is owing to the foams’ endurance and non-conductive qualities when it comes to electrostatic discharges.
Global Electrostatic Discharge (ESD) Foams Market, Segmentation
The global ESD foams market is segmented based on end-user and region.
The end-user category is further divided into network & telecommunications, consumer electronics & computer peripherals, automotive, military & defense, healthcare, aerospace, and other industries. The automotive industry sub-segment is expected to increase at the fastest rate throughout the projected period, reaching $106.5 million by 2030, with a CAGR of 10.1 percent. ESD foams are mostly utilized in the automotive industry to carry electronic components from one location to another. Additionally, rising demand for these ESD foams in the automotive industry is expected to increase the sub-segment market.
In the projected period, the Asia-Pacific ESD foams market is expected to grow at the fastest rate. The market in the Asia-Pacific region is expected to reach $228.0 million by 2030, increasing at a CAGR of 10.4 percent during the study period. The Asia-Pacific market is one of the most important regional market for ESD foams, this is majorly due to the low labor costs and the availability of skilled personnel in the Asia-Pacific area. Most manufacturing units around the world are transferring their operations to this region, which is expected to be the primary driving factor for the region market throughout the analyzed period. For example, Apple announced in January 2021 that it would manufacture the iPhone 12 series in India, with some of the iPhone 12 variants being produced directly at India's Foxconn facility.
Key Players in the Global Electrostatic Discharge (ESD) Foams Market
Some of the significant electrostatic discharge (ESD) foams market players include
- Smurfit Kappa Group
- Desco Industries
- PPG Industries
- TIP Corporation.
- Conductive Containers Inc.
- Elcom (UK) Ltd.
- Tandem Equipment Sales Inc.
- Global STATCLEAN SYSTEMS, among others.
Porter’s Five Forces Analysis for Electrostatic Discharge (ESD) Foams Market:
- Bargaining Power of Suppliers: Huge number of ESD foams manufactures in the market and high cost of the ESD foams products are resulting into
the bargaining power of suppliers to be moderate.
- Bargaining Power of Consumers: In this market, the concentration of buyers is huge and availability of low cost alternatives are less.
Thus, the bargaining power of consumers is moderate.
- The threat of New Entrants: The raw materials used in the manufacturing process of ESD foams in low, thus the threat of new entrants is high.
The threat of new entrants is high.
- The threat of Substitutes: Lack of alternatives and the availability of the products is less, thus the threat of substitutes is moderate.
The threat of substitutes is moderate.
- Competitive Rivalry in the Market: The number of players present in the ESD foams market is very high.
The competitive rivalry in the industry is moderate.