ESD packaging is secure for packing electronic items and keeping them safe, which is expected to drive the growth of the global electrostatic discharge (ESD) packaging market.
PORTLANDOre. , July 25, 2022 /PRNewswire/ — Allied Market Research published a report, titled, “Electrostatic Discharge (ESD) Packaging Market by Product Type (Bags, Trays, Boxes & Containers, ESD Foam, ESD Films, Others), by End-user (Network and Telecommunication Industry, Consumer Electronics & Computer Peripheral, Automotive Industry, Military and Defense, Healthcare, Aerospace, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030”. According to the report, the global electrostatic discharge (ESD) packaging industry generated $3.5 billion in 2021, and is anticipated to generate $7.1 billion by 2030, witnessing a CAGR of 8.31% from 2022 to 2030.
Prime determinants of growth
ESD packaging is secure for packing electronic items and keeping them safe, which is expected to drive the growth of the global electrostatic discharge (ESD) packaging market. However, high cost of the packaging material restricts the market growth. On the other hand, rise in demand for these packages from various end-use sectors such as defense and military, automotive, healthcare, industrial, and aerospace presents new opportunities in the coming years.
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- The outbreak of the Covid-19 pandemic has had a negative impact on the global electrostatic discharge (ESD) packaging market, owing to implementation of the global lockdown, which closed all the electronics manufacturing hubs.
- In addition, supply chain disruption, labor shortages, raw material shortages, and other obstacles inhibited the manufacturing of electrical devices.
The bags segment to maintain its leadership status throughout the forecast period
Based on product type, the bags segment held the highest market share in 2021, accounting for more than one-fourth of the global electrostatic discharge (ESD) packaging market, and is estimated to maintain its leadership status …