Electrostatic Discharge (ESD) Packaging Market is Predicted to Reach $7,086.70 Million Growing from $3,480.50 Million at a CAGR of 8.31%Download Sample Reports Overview
Electrostatic discharge (ESD) packaging market is projected to reach $7,086.70 million by 2030, growing from $3,480.5 million in 2021, at a CAGR of 8.31% in the forecast period.
Covid-19 Impact on Electrostatic Discharge (ESD) Packaging Market
The global electrostatic discharge (ESD) packaging industry is expected to suffer as a result of the pandemic. Because of the government-imposed lockdown during the new coronavirus outbreak, most electronic industrial facilities were shut down. In addition, labor constraints, raw material limitations, and other challenges hampered the production of electrical gadgets. These factors influenced the ESD packaging industry directly. The use of electrostatic discharge packaging has decreased dramatically as a result of the epidemic forcing many enterprises to shut down, some temporarily and others permanently.
However, once the pandemic has passed, it is expected that demand for ESD packaging will rise.
Global Electrostatic Discharge (ESD) Market Analysis
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 packaging 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 for 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 charge as per the area covered. These factors are predicted to hinder the global electrostatic discharge packaging market in the forecast period.
The adoption of advanced computing systems is being accelerated by rapid technical breakthroughs in vehicle manufacturing, such as cloud computing and automation. The ESD packaging market share growth in this domain is predicted to grow significantly in the future forecast period, based on this tendency.
Global Electrostatic Discharge (ESD) Packaging Market, Segmentation
The global electrostatic discharge (ESD) packaging market is segmented based on product type, end-user, and region.
Based on product type, the market is divided into bags, trays, boxes & containers, ESD foam, ESD films, and others. ESD films product type sub-segment is predicted to have the fastest growth rate in the review period and reach $966.10 million by 2030, growing at a CAGR of 8.99% 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 coatings, which 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.
Based on end-user, the market is segmented into network & telecommunication industry, consumer electronics & computer peripheral, automotive industry, military & defense, healthcare, aerospace, and others. Automotive industry sub-segment is predicted to have the maximum growth rate in the forecast period and reach $829.80 million by 2030, growing at a CAGR of 9.1% 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 and reach $1,812.1 million by 2030, growing at a CAGR of 9.39% 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.
Key Market Players in the Global Electrostatic Discharge (ESD) Packaging Market
Some of the significant electrostatic discharge (ESD) packaging 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