Electrostatic Discharge (ESD) Packaging Market: Snapshot
In a fragmented and somewhat unorganized global electrostatic discharge (ESD) packaging market, savvy players are seen embarking upon mergers and acquisitions to bolster their positions. It has also been noticed that they are trying to increase their geographical footprints through various methods.
At the forefront of driving demand in the global electrostatic discharge (ESD) market is the electronics and electrical industry, which require suitable packaging to prevent damage to their products. Besides the electronics and electrical industry, the defense and military segments in developed nations are also serving to stoke demand in the market.
On the flipside, metallic powder in electrostatic discharge (ESD) packaging easily corrodes when it comes in contact with water. This, in turn, damages components and devices stored. The problem is having a negative impact on the market.
A study by Transparency Market Research, forecasts the global electrostatic discharge (ESD) packaging market to clock a CAGR of 7.2% from 2017 to 2027 to become worth US$2.6 bn by 2027 from US$1.3 bn in the current year of 2017.
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Bags Take Lead in Product Segment
Depending upon the types of products, the electrostatic discharge (ESD) packaging market can be divided into bags, trays, clamshell, shrink films, boxes and containers, tapes and labels, foams, totes/IBC, racks, and others. Of them, the segment of bags surpasses all others both in terms of value and volume. The segment is expected to grow its value by clocking maximum CAGR of 8.4% from 2017 to 2027 to pull in a revenue of US$841.4 mn by 2027.
The segment of foams trails in the second position. By registering a CAGR of 7.0%, the segments is expected to become worth US$418.3 mn by 2027. In terms of growth rate, racks and tapes and labels are forecasted to witness impressive CAGRs – 8.4% and 7.0% – in the forecast period.
Based on application again, the key segments of the global electrostatic discharge (ESD) packaging market are electrical and electronic component, equipment, explosive powder, drugs, etc. Of them, the segment of electrical and electronic component is expected to account for 80.2% of the market share by value by the end of 2027.
Large Number of Electronic Manufacturers Drive Market in Asia Pacific
From a geographical perspective, Asia Pacific accounts for a leading share in the global electrostatic discharge (ESD) packaging market. This is because of the presence of the numerous electronic manufacturers in countries of China, Taiwan, South Korea, and Japan. The rising demand for smartphones and IT infrastructure in the region is also serving to boost demand. On account of so many factors boosting market, its value is projected to reach US$1.40 bn by 2027 from US$657.7 mn in 2016 by registering a CAGR of 7.2% over the forecast period.
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