The global industrial electronics packaging market is poised for steady growth, reaching an estimated US$2,906.73 million by 2033.expand_more This press release explores the key factors driving this market and the exciting opportunities on the horizon.
Securing Fragile Tech: The Packaging Advantage
Industrial electronics packaging plays a critical role in safeguarding delicate electronic devices during transport and storage.expand_more The rising demand for consumer electronics worldwide translates to a growing need for reliable packaging solutions. Paper and board packaging, valued for its strength, rigidity, and printability, remains a popular choice for protecting mobile phones, computers, and other breakable devices.
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Going Green: Sustainable Packaging Takes Center Stage
Environmental consciousness is sweeping across industries, and industrial electronics packaging is no exception.expand_more The surge of e-commerce compels businesses to adopt sustainable practices. This translates to a growing demand for eco-friendly packaging solutions like paper-based alternatives that minimize plastic waste. Additionally, innovative designs are being developed to enhance the strength of these sustainable options.exclamation
Digitalization Drives Demand: Packaging for the Connected Future
The pervasive growth of digitalization fuels the demand for the Internet of Things (IoT) technology. This, in turn, necessitates effective packaging for the industrial electronics that power this connected world.expand_more With the rise of smart devices like laptops, tablets, and smartphones in both developed and developing nations, the demand for robust and secure electronic packaging is expected to climb steadily.
Innovation Unlocks Opportunities
The future of industrial electronics packaging is brimming with exciting possibilities. Advancements in research and development are leading to the creation of cutting-edge packaging designs that prioritize both functionality and sustainability. Cost-effective and eco-friendly packaging solutions hold the potential to revolutionize the industry, offering significant financial and environmental benefits. Additionally, the integration of photonics technology with electronic packaging is driving a shift towards customizable designs, further enhancing the market’s potential.
Industrial electronics packaging is a crucial enabler of the technological revolution. As the demand for electronics continues to rise and sustainability concerns take precedence, innovative packaging solutions will play a vital role in securing the future of this dynamic industry.
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Key Highlights:
- 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.
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.
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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.
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 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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