The conductive bags market is forecasted to develop at a 5.9% CAGR over the estimated period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 2,250.59 million in 2023.
The conductive bags industry is mainly inclining forward by robust industrialization the world over, particularly in developing economies like South Korea and China. Also, the adoption of conductive bags is surging in applications like the transportation of explosives, chemicals, and electronics.
Growing environmental and safety issues among different industries are expected to accelerate market growth in the upcoming years. Industries are constantly seeking safer and more effective packaging solutions and exceptional features in conductive bags to avoid any dangerous incidents.
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Another key market propeller is the flourishing packaging industry. For instance, in developing countries like India, the packaging industry is going strongly forward, signifying high product adoption. These bags are deployed in multiple industries to pack and prevent electronics from electrostatic discharging (ESD).
Escalating the adoption of electronic gadgets like tablets, laptops, and smartphones is anticipated to encourage the expansion of conductive bags to reduce static charge build-up in related electronics. For example,
- As per the report produced by the World Trade Organization in December 2020, computers and electronic components demand registered an upward trajectory in the 2nd quarter of 2020, with a growth rate of 10-11%.
The availability of alternative packaging solutions like static bags and others or the lack of stringent regulations to ascertain the use of conductive bags for the transportation of electronics are anticipated to limit the market development.
Top Highlights from FMI’s Analysis of the Conductive Bags Market
- South Korea’s conductive bags industry is expected to present significant opportunities to the market players.
- Manufacturers are looking out for economies like Mexico, where cheap labor is available in plenitude.
- Increasing utilization of electronics in Japan is providing key players with considerable opportunities for expansion in the country.
- Countries in Asia like India and China are likely to display significant markets for conductive bags in the upcoming years.
- Australia has a potential for significant expansion over the forecast period. Consequently, it attracts several market players in the country.
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New Turn of Events: Latest Developments Dictating Market Evolution
- EcoCortec revealed a first-ever compostable, biodegradable, and static-dissipative bags and films in January 2021. EcoCortec is an anticorrosion and bioplastic packaging bags and film manufacturer in Croatia. The Eco-Corr Film ESD product introduced by the firm offers a sustainable packaging solution. The product has several industrial uses, like telecommunications, packaging, static-sensitive electronics, and electric cars.
- Cortec Corporation is a chemical company that offers corrosion protection solutions. The company introduced EcoSonic VpCI-125 HP anti-static bags and film that consist of corrosion-inhibiting materials ideal for protecting multi-metal products in November 2020. Bags and films substitute traditional rust preventatives like desiccants and oils. The product has a prolonged shelf life and includes permanent anti-static properties as long as the bags or films are in use, irrespective of the presence of humidity.
- Transcendia obtained Purestat Engineered Technologies, the manufacturer of electrostatic dissipative (ESD) active packaging solutions, in March 2019. This development is expected to broaden Transcendia’s product line to incorporate multi-layer barrier bags, laminates, and films to cater to the high-value market applications in energy, electronics, medical, aerospace, and food.
Key Segmentation
By Product Type:
- Plain
- Tubing
- Grid
- bubble
By Material Type:
- Aluminum-coated
- PE
By End User:
- Automobile & mechanical industry
- Semiconductors & electronics industries
- Pharmaceutical equipment industry
- Electrical industry
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
About Future Market Insights Inc. (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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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