Electrostatic Discharge (ESD) Packaging Market is Predicted To Garner $5,773.1 Million by 2027 Growing at a CAGR of 8.7%Download Sample Reports Overview
Electrostatic discharge (ESD) packaging market is projected to reach $5,773.1 million by 2027 growing at a CAGR of 8.7% in the forecast period.
Electrostatic discharge packages absorb the sudden flow of electricity between charged object caused by dielectric breakdown. The electrostatic discharge packages prevent the buildup of static electricity and help in protecting the contents of the package from electrostatic damage.
The novel coronavirus has had a negative impact on the global electric static discharge package market. During the lockdown period, most of the electronic devices manufacturing plants have shut down, some permanently and others temporarily, because of government regulations. This factor has significant impact on the ESD packaging market growth in the pandemic period.
The high safety of the electronic components and devices packed with ESD packages is predicted to be the major driving factor for the global electrostatic discharge packages market in the forecast period. Electrostatic discharge packages are considered as one of the best packaging systems for the protection of sensitive electrical equipment and prevention against a buildup of a charge. Also, ESD packaging materials have high reliability against electronic components damage by continuous elimination of electrostatic potential. to keep the products safe. ESD packages are safer for packing the finished goods and keeping the product secure which is predicted to drive the global market in the analysis period. In addition, increasing demand of these packages by various end use industries such as defense & military, automotive, healthcare, manufacturing, and aerospace is predicted to boost the market in the forecast period.
The electrostatic discharge packages are bulky in nature and thus difficult to handle. In addition, the transportation cost of the product also increases as the transportation companies charges as per the area covered. These factors are predicted to hinder the global electrostatic discharge packaging market in the forecast period.
ESD film product type sub-segment is predicted to have the highest growth rate in the review period. The ESD film product type sub-segment is projected to reach $796.2million by 2027, growing at a CAGR of 9.5% in the analysis timeframe. ESD films are used as a protection layer for sensitive equipment and components. These ESD films are used by several companies as they have high tear strength and adhesive-backed polyester film with permanently electrostatic-dissipative coating are durable in nature. Increased adoption of these films by companies for their characteristics is predicted to drive the sub-segment market in the forecast period.
Automotive industry sub-segment is predicted to have the maximum growth rate in the forecast period. The automotive industry sub segment is predicted to reach $659.4million by 2027, growing at a CAGR of 9.6% in the forecast period. The ESD packages are mostly used in the automotive industry for packaging products to be transported from one place to another. Increasing demand of these ESD packages in automotive industry is predicted to boost the sub-segment market in the forecast period.
Asia-Pacific region market is predicted to have the highest growth rate in the forecast period. The Asia-Pacific region market is projected to reach $1,457.1 million by 2027, growing at a CAGR of 9.9% in the analysis period. Asia-Pacific market is considered as one of the biggest markets for ESD packages. Most manufacturing units across the globe are shifting towards Asia-Pacific region due to low labor cost and availability of the skilled labor across the region, which is predicted to be the major driving factor for the region market in the analysis period. For instance, In Jan 2021, Apple will start making iPhone 12 series in India and some of the iPhone 12 models will be directly manufactured at the Foxconn facilities of India and Brazil.
- Smurfit Kappa Group,
- Desco Industries
- PPG Industries
- TIP Corporation.
- Conductive Containers Inc.
- Global STATCLEAN SYSTEMS
- Elcom (UK) Ltd.
- Tandem Equipment Sales Inc.
Porter’s Five Forces Analysis for Electrostatic Discharge (ESD) Packaging Market:
- Bargaining Power of Suppliers: There are multiple suppliers in the market and high cost of the ESD packaging products are resulting the bargaining power of suppliers is Moderate.
- Bargaining Power of Consumers: In this market, the concentration of buyers is huge and availability of low cost alternatives are resulting bargaining power of consumers is Moderate.
- The threat of New Entrants: Theraw materials used in the ESD packaging are low in price hence it becomes easy to start a new manufacturing unit.
The threat of new entrants is High.
- The threat of Substitutes: This market has less number of products moreover availability of product is also very less due to which switching costs for clients is Moderate.
The threat of substitutes is Medium.
- Competitive Rivalry in the Market: The ESD packaging market has a numerous small, medium and large, scale players.
The competitive rivalry in the industry is Moderate.