The consumer electronics sector’s growth and increasing industrialization are both contributing to the growth of the battery packaging industry. According to Future Market Insights, the market is anticipated to be worth US$ 32.3 billion in 2022 and to grow at a CAGR of 11.3% till US$ 94.2 billion is reached in 2032.
Battery Packaging Market Overview
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.
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Global Battery Packaging Market: Dynamics
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.
Global Battery Packaging Market: Regional Outlook
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.
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Global Battery Packaging Market: Market Key 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.
Regional analysis includes
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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.
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Global Battery Packaging Market: Segmentation
On the basis of packaging type:
- Blister packaging
- Strip packaging
- Corrugated packaging
On the basis of raw material used:
- Plastic
- Paper
- Aluminium
On the basis of end use industries
- Consumer Electronics industry
- Automotive industry
- Robotics Industry
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