The battery packaging industry is expanding in tandem with the expansion of the consumer electronics sector and growing industrialization. As per Future Market Insights, the market is slated to be valued at US$ 32.3 Billion in 2022, and expected to follow a CAGR of 11.3% until 2032 to reach US$ 94.2 Billion.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2022 | US$ 32.2 Billion |
| Projected Market Value in 2032 | US$ 94.2 Billion |
| Growth Rate (2022 to 2032) | 11.3% CAGR |
The ever-increasing requirement for batteries is anticipated to fuel battery packaging solutions all over the world. Another crucial component predicted to propel the global battery packaging market's growth is an invention in battery packaging designs.
According to our research results expansion in the automotive and consumer electronics industry sectors has aided the global battery packaging market in recent years. Economic powerhouses such as India and China have initiatives to double their production capacity over the next five years, offering significant opportunities for the worldwide battery packaging market. All of these factors influence the global battery packaging market's development.
To achieve the desired results, battery packaging manufacturers concentrate on customizable packaging solutions for batteries based on size requirements. The increasing utilization of batteries in our daily lives enhances the need for safe battery packaging.
It requires more than qualified to make an impression on consumers in today's highly competitive marketplace. Because of superior product presentation, attractive designs, such as transparent blister packs, have gained popularity among battery packaging automakers.
According to FMI's research, organizations must also overcome a number of challenges in order to adopt battery packaging market growth, such as many devices that appear with built-in batteries that do not require packaging. This factor can limit the market growth.
The battery packaging market is anticipated to establish its appearance in seven regions: North America, Western Europe, Asia Pacific (excluding Japan), Eastern Europe, Latin America, the Middle East, Africa, and Japan.
Because of a large automated sector and a highly mature consumer electronics industry, developed regions such as North America, Japan, and others lead the global battery packaging market. However, Latin America and the Asia Pacific are expected to experience rapid growth in the global battery packaging market.
Consistent industrial growth in these regions, particularly in the consumer electronics industry, will drive demand for batteries, which will fuel the battery packaging market. Over the forecast period, the MEA battery packaging market is expected to grow progressively.
FMI recently completed an in-depth assessment of key market players, few of the key players operating in the global battery packaging market are Amcor Rigid Plastics USA, Inc., Bemis Company, Inc., WestRock Company, Ball Corporation, Mondi Group Plc., Smurfit Kappa Group Plc., Stora Enso Ingerois Oy, Coveris Holdings S.A., DS Smith Plc., Graphic Packaging International, Inc., Ismail Sutaria.
Packaging Industry has spread its feet in almost all sectors, whether it is food, pharmaceutical, consumer goods, etc. Batteries are an integral part of our daily lives. The increasing penetration of batteries in almost all the prominent industries, has led to rising demand for safe battery packaging solutions.
Battery packaging manufacturers focus on customizable packaging solutions for batteries, depending on size requirement. The growing applications of batteries in our daily lives, increases the need for safe battery packaging. In a highly competitive world, it takes more than quality to leave an impression on consumers.
Attractive designs, including transparent blister packs have witnessed increased preference among battery packaging manufacturers, owing to better product presentation. Battery packaging manufacturers emphasize on safe packaging solutions, to avoid chemical leakage.
Battery packaging solutions such as blister packaging, strip packaging, corrugated packaging, and bliss boxes have witnessed increased penetration in the global battery packaging market, in the last few decades.
Safe battery packaging enjoys high preference, as higher the energy, higher is the risk factor for chemical leakage. Batteries are expected to witness increased application over the forecast period, which in turn, is expected to translate into growth for the global battery packaging market.
The global consumer electronics market has witnessed significant transformation in the past couple of decades. The global battery packaging market is expected to grow on the backdrop of consumer electronics industry growth and growing industrialization. The ever-lasting demand for batteries is anticipated to fuel demand for battery packaging solutions, across the globe.
Another important factor anticipated to drive growth of the global battery packaging market is innovation in battery packaging designs. Battery packaging solutions which provide excellent product presentation are more likely to be purchased.
Growth in the automotive and the consumer electronics industries, in the last few years has facilitated growth of the global battery packaging market. Economic powerhouses such as India and China have strategies to double their production output, over the next five years, which is expected to provide significant opportunities to the global battery packaging market.
All these factors help drive growth of the global battery packaging market. Despite the positive outlook, there are certain factors which might hamper growth of the global battery packaging market including increasing integration of batteries in electronic devices. Many devices come with inbuilt batteries, which does not require packaging.
Based on regions, the bliss box former machine is segmented into seven regions namely North America, Western Europe, Asia Pacific except Japan, Eastern Europe, Latin America, Middle-east and Africa, and Japan. Developed regions such as North America, Japan, etc. lead the global battery packaging market, owing to a large automated industry and a highly mature consumer electronics industry.
However regions such as Latin America and Asia Pacific, are expected to witness meteoric growth in the global battery packaging market. Steady industrial growth in these regions, especially the consumer electronics industry, will drive demand for batteries, which in turn is expected to fuel the battery packaging market. The MEA battery packaging market is also anticipated to witness steady growth, over the forecast period.
Few of the key players operating in the global battery packaging market are:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
On the basis of packaging type:
On the basis of raw material used:
On the basis of end use industries
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