Explore the Rapid Growth Potential of the Industrial Electronics Packaging Market – Get Our Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-5235
The global industrial electronics packaging market is on a growth trajectory, poised to reach a substantial value of US$ 2,906.73 million by 2033, with an estimated CAGR of 4.1% from 2023. This expansion is primarily driven by the escalating demand for consumer electronics on a global scale, which, in turn, is boosting the consumption of industrial electronics packaging. Several key factors are propelling this market growth. Firstly, there’s a notable surge in the demand for paper and board packaging materials, particularly for fragile electronics like mobile phones and computers. These materials offer the required strength and rigidity to protect delicate devices while also providing a polished finish and excellent printability.
Secondly, the worldwide push for eco-friendly packaging solutions is playing a significant role. With a growing emphasis on sustainability, various eCommerce industries are adopting paper-based packaging alternatives to reduce plastic waste generation. This eco-conscious trend is gaining traction in the industrial electronics packaging sector, leading to innovative designs that enhance packaging durability.
Lastly, the pervasive trend of digitalization is contributing to the market’s expansion. The increasing adoption of IoT (Internet of Things) is driving the demand for efficient packaging solutions for industrial electronics products such as laptops, tablets, smart computing devices, mobile phones, and smartphones. This trend is prominent in both developed and emerging economies.
In this dynamic landscape, the industrial electronics packaging market is set to play a crucial role in safeguarding sensitive electronic devices while aligning with the global sustainability agenda, ultimately fueling its growth in the coming years.
Key Highlights of the Industrial Electronics Packaging Market:
- The North American industrial electronics packaging industry is projected to mark its dominance by attaining US$ 672.1 million by 2023. The region is projected to assume a CAGR of 3.9% over the forecast period. The United States market is expected to surpass total revenue of US$ 659.9 million by the end of 2023.
- Europe region is anticipated to position itself as the second leading market in the forthcoming period. The region is projected to generate overall revenue of US$ 578.3 million in 2023.
- Germany contributes significantly towards Europe market growth. German market shares a sizeable amount of revenue of US$ 384.8 million.
- East Asia is the third leading region in the market. The region is projected to account for US$ 296.4 million by 2023 end. The region includes Japan, China, and South Korea- with Japan contributing a huge chunk to the regional growth and South Korea contributing the least from the group.
- South Asia is projected to witness robust expansion over the forecast period. The region is projected to witness a CAGR of 4.9% over the forecast period. South Asia is anticipated to attain US$ 202.8 million by 2023 end.
- The rigid packaging format holds a significant proportion of the market. By 2023 end, the market is expected to attain US$ 1,816.7 million. The segment is projected to witness a CAGR of 4% over the forecast period.
Level Up: Competitors Upping Their Game
- In August 2022, DS Smith pushed ahead with testing fiber-based cardboard packaging composed of seaweed, straw, and more. The company has invested US$ 140 million in research and development to bolster its work in the circular economy. The program aims to discover prospects for fiber and plastic replacement capabilities of multitudinous materials to extend its range of sources for packaging.
- In May 2022, ABB chose DS Smith’s updated automation system for Europe’s second-leading recovered fiber-based paper operation.
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Top Key Players Covered-
- DS Smith Plc.
- Smurfit Kappa Group Plc.
- UFP Technologies Inc.,
- Sealed Air Corporation,
- Achilles Corporation,
- Desco Industries Inc.,
- Botron Company Inc.
- Kiva Container Corporation
- Orlando Products Inc.
- Delphon Industries LLC
- Summit Container Corporation
- Protective Packaging Corporation
- Dou Yee Enterprises (S) Pte Ltd.
- Dordan Manufacturing Company Inc.
- GWP Group Limited
- Pure-Stat Engineered Technologies Inc.
- AUER Packaging GmbH
- Emballages Cre-O-Pack International Inc.
- Universal Protective Packaging Inc.
Asian Economies Hold Promising Investment Opportunities for Industrial Electronics Packaging Companies
North America is estimated to be the most prominent industrial electronics packaging market, the report also points to the robust growth in East Asia’s market attractiveness over the years to come. The East Asian market for industrial electronics packaging will thus remain a significant regional contender in the industrial electronics packaging landscape, according to FMI’s analysis.
In East Asia, Japan holds more than 50% of the market share, followed by China. South Asia is also cited as a highly lucrative investment pocket for manufacturers of industrial electronics packaging solutions, potentially outpacing other regional markets in terms of growth rate. Growth of South and East Asian market is attributed to robust manufacturing of consumer electronics and swelling demand for impact-resistant protective packaging solutions.
Europe is another prominent market for industrial electronics packaging, more than 60% of which is accounted by Germany. The country will continue to spearhead European market owing to towering rate of production of semiconductor components and equipment.
Europe & the US Account for a Massive Share in Global Production of Industrial Electronics
Manufacturers of industrial electronics packaging are eyeing business expansion across countries with high consumer electronics production, as an effort to strengthen their foothold in the global industrial electronics packaging market. Leading manufacturers of industrial electronics packaging are either based out of the US or Europe, or have a strong presence in these regions, as both markets hold a collective share of more than 60% in the global production of industrial electronics.
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Key Segments:
By Product Type:
- Testing & Measuring Equipment
- Process Control Equipment
- Industrial Controls
- Power Electronics
- Industrial Automation Equipment & Others
By Material Type:
- Plastic Industrial Electronics Packaging
- PE
- PET
- PS
- PP
- PVC
- Paper & Paperboard Industrial Electronics Packaging
By Packaging Type:
- Rigid Industrial Electronics Packaging
- Corrugated Boxes
- Containers
- Protective Packs
- Trays
- Clamshells
- Bin & Totes
- Others
- Flexible Industrial Electronics Packaging
- Bags & Pouches
- Tapes & Labels
- Films & Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
Author:
Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.
Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.
Ismail is a regular at industry conferences and expos and has been widely covered in electronic and print media. He is a Speaker at our upcoming Talk show – Rise of the Intelligent Packaging. Ismail has been quoted in leading publications, including the European Pharmaceutical Review and the European Adhesive Tape Association.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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