The battery packaging industry is predicted to grow from $ 20.2 billion in 2020 to $ 36.5 billion by 2025, at a compound annual expansion rate (CAGR) of 12.6% over the foreseen period. The expansion of the battery packaging industry can be attributed to escalated battery consumption in the automotive, energy storage and consumer electronics industries. The packaging industry has spread to all segments, be it pharmaceutical, food, customer products, etc. Battery packaging manufacturers focus on adaptable packaging solutions for batteries, based on size requirement. The development of the uses of batteries in our daily lives reinforces the need for safe packaging of batteries. In a very aggressive world, it takes more than quality to make an impact on buyers. Attractive structures, including clear blisters, have seen a growing trend among battery pack manufacturers, due to better product presentation. Manufacturers of battery packaging insist on a safe packaging system to eliminate chemical leaks. Battery packaging systems, for example strip packaging, blister packaging, blister boxes, and corrugated packaging have seen escalated penetration into the worldwide battery packaging industry over the past two decades. Safe battery packaging appreciates a steep incline, because the higher the energy, the higher the substance spill hazard ratio. Batteries are predicted to see more application in the coming years, which is predicted to become a development for the worldwide battery packaging industry.
Market drivers and restraints:
The consumer electronics industry has undergone a critical change in recent decades. The worldwide industry for battery packaging is predicted to expand due to the development of the consumer electronics industry and escalating industrialization. The steady and steady call for batteries is predicted to support the call for battery packaging solutions around the world. The battery packaging system that offers an incredible presentation of the product must be purchased more frequently. Development in the consumer electronics and automotive sectors in recent years has fostered the development of the worldwide battery packaging industry. Financial powerhouses, for example China and India, have strategies to double their creative output in the coming years, which will likely give the worldwide battery packaging industry significant opportunities. Each of these factors is responsible for the development of the worldwide industry for battery packaging. Aside from the encouraging prospects, there are some factors that may hamper the development of the worldwide battery packaging industry, including the escalating integration of batteries into electronic devices. Many devices now come with built-in batteries, which do not require packaging.
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Report segmented as:
By type of battery:
Lithium – ion
Lead – acid
By level of packaging:
Cell & pack packaging
Developed countries, like Japan, North America and others dominate the worldwide battery packaging industry, due to an increase in the number of automated sectors and a well-developed consumer device industry. However, regions such as Asia-Pacific and Latin America are predicted to see significant expansion in the worldwide battery packaging industry. Constant industrial development in these regions, especially in the consumer device sector, is believed to fuel call for batteries, which is likely to drive the battery packaging industry. The Middle East and Africa region is also predicted to experience steady expansion in the coming years.
Important market players:
The key players leading the global attery packaging market are Bemis Company, Inc., Amcor Rigid Plastics USA, Inc., Ball Corporation, Smurfit Kappa Group Plc., DS Smith Plc., Graphic Packaging International, Inc., WestRock Company, Ball Corporation, Mondi Group Plc., Stora Enso Ingerois Oy, and Coveris Holdings S.A.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.
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