Global ESD Foam Packaging Market: Snapshot
The global electrostatic discharge (ESD) foam packaging market is prognosticated to attract favorable growth prospects while riding on the growing adoption of internet of things (IoT) across different regions of the world. ESD foam packaging could up its demand in the foreseeable future due to the engagement of integrated circuits for the launch of novel technological products in consumer markets and implementation of IoT in consumer offerings.
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Higher dimensional stability of ESD foam compared to other packaging materials for electronic equipment could be a key marker for the rising demand in the global ESD foam packaging market. Furthermore, the ability of ESD foam to be cut into any shape to seamlessly sync with that of electronic equipment is foreseen to be another factor driving the growth of the market.
The global ESD foam packaging market is envisioned to rise at a CAGR of 6.3% during the forecast timeframe 2017–2024 to reach a valuation of US$233.8 mn by the closing forecast year. In 2017, the market held a valuation of US$172.5 mn.
Electrical and Electronic Component Outpaces Other Applications with Aggressive Growth
The world ESD foam packaging market is anticipated to be classified according to three categories, viz. application, material and additive, and end-use industry. On the basis of application, the market could be segmented into electrical and electronic component and others. As per the report, the star performer among the application segments could be electrical and electronic component with a US$217.8 mn revenue predicted to be earned by 2024 end. The annual absolute growth exhibited by this segment could be larger than that of any other in the application category.
In terms of material and additive type, the world ESD foam packaging market is projected to be segmented into conductive and dissipative polymer, metal, and additive. By end-use industry, there could be crucial segments taking shape in the market, such as aerospace, manufacturing, defense and military, automobile, electrical and electronics, and other end-use industries.
APEJ Ranks Higher and Continues Dominance with Larger Revenue Earning
With respect to regional segmentation, the international ESD foam packaging market is prophesied to observe the domination of Asia Pacific except Japan (APEJ), which could be valued at a US$105.8 mn by the end of the forecast period. This region could also be counted among the most attractive ones for years to come. North America and Europe are also forecast to showcase a strong revenue growth in the near future. The former could expand at a CAGR of 6.7% while the latter is expected to gain 47 basis points (BPS) between 2017 and 2024.
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However, the Middle East and Africa (MEA) and Japan could embrace a slower growth pace during the course of the forecast period. The MEA is envisaged to create an absolute revenue prospect of US$3.9 mn by 2024 over 2017. Japan could be valued at an only US$17.4 mn by the end of 2024.
Some of the important companies operating in the worldwide ESD foam packaging market could be Statclean Technology (S) Pte Ltd., Electrotek Static Controls Pvt. Ltd., Helios Packaging, Conductive Containers, Inc., Botron Company, Inc., GWP Group Limited, Elcom U.K. Ltd., Tekins Limited, and Nefab AB.
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