Electrostatic Discharge Packaging Market Driven by Growing Demand for Consumer Electronics, Communication Equipment

Electrostatic Discharge Packaging Market Highlights

The Electrostatic Discharge Packaging Market accounted for $3,984.0 million in 2022 is predicted to generate a revenue of $6,773.1 million by 2030 registering a CAGR of 8.2% from 2022 to 2030. The report studies the global electrostatic discharge packaging market in detail to find out more about the market’s leading drivers and restraints, key segments, and dominant players.

The global electrostatic discharge packaging market is mainly driven by the growing global demand for the manufacturing and transportation of electronic components. The growing manufacturing of computers, smartphones, and other networking infrastructure is likely to be a major driver for the global electrostatic discharge packaging market over the forecast period, as the demand for electrical and electronic components is likely to grow over the forecast period and beyond with the rising reliance on digital communication media. Electrostatic discharge packaging protects the product from the effects of electrostatic discharge, which can hamper a product even before it is sold and considerably reduce its operational lifetime.

The growing demand for smartphones and other consumer electronics is likely to be a major driver for the global electrostatic discharge packaging market over the forecast period, as the growing demand for consumer electronics is likely to result in an increasing demand for the transportation of the same from the manufacturing sites to the assembly units. The growing demand for communication network infrastructure is also likely to be a major driver for the global electrostatic discharge packaging market over the forecast period, as the operations of the industrial sector as well as other, service-oriented sectors such as BFSI, healthcare, and government, are likely to rely increasingly on digital, 21st-century communication methods in the coming years.

Competitive Analysis:

Leading players in the global electrostatic discharge packaging market include Desco Industries Inc., GWP Group Limited, Protektive Pak, Elcom UK Ltd., Statico, Stephen Gould Corp., Summit Packaging Solutions, Tandem Equipment Sales Inc., and Teknis Limited.

Segmentation:

The global electrostatic discharge packaging market is segmented on the basis of product, end use, and region.

By product, the global electrostatic discharge packaging market is segmented into bags, trays, boxes and containers, ESD foams, and others.

By end use, the global electrostatic discharge packaging market is segmented into communication network infrastructure, consumer electronics, computer peripherals, automotive, and others.

Regional Analysis:

The global electrostatic discharge packaging market is segmented by region into North America, Europe, Asia Pacific, and rest of the world.

Asia Pacific is likely to dominate the global electrostatic discharge packaging market over the forecast period due to the growing electronics manufacturing industry in the region. Companies such as Samsung, LG, and Huawei are leading manufacturers of consumer electronics, the demand for which is being driven rapidly in Asia Pacific due to the growing disposable income of the consumers in Asia Pacific. The growing production of communication equipment in countries such as China, Taiwan, and Japan is likely to be a key driver for the global electrostatic discharge packaging market over the forecast period. Companies such as Samsung and Huawei have emerged as global leaders in the manufacturing of communication equipment in recent years, leading to a steady growth in the demand from the electrostatic discharge packaging market in Asia Pacific over the forecast period. The growing initiation of safety regulations in the packaging and transportation industry in the region is also likely to drive the demand from the electrostatic discharge packaging market in the region.

Following Asia Pacific, Europe is likely to hold a considerable share in the global electrostatic discharge packaging market over the forecast period due to the growing demand for safety in product consumption and usage. The steady advancement of the packaging industry in Europe has led to the legislation of several supportive regulations mandating the use of electrostatic discharge protection in electronics transportation and storage. This is likely to drive the electrostatic discharge packaging market in Europe over the forecast period.

North America is also likely to emerge as a key player in the global electrostatic discharge packaging market over the forecast period due to the growing demand for consumer as well as communication electronics in the region. The U.S. is likely to remain one of the leading regional markets for electrostatic discharge packaging over the forecast period.

Read More About This Article-Electrostatic Discharge Packaging Market