Industrial Electronics Packaging Market Size
At over USD 1.9 billion in 2022, the industrial electronics packaging market will rise at a CAGR of 4.1% from 2023 to 2032. Rising acceptance of industrial automation systems and technologies fuels demand for strong and protective packaging for delicate electronic components used in automated equipment. The demand for tailored packaging solutions that safeguard electronic components in Internet of Things (IoT) and linked devices drives from their explosive expansion.
Rising integration of electronics in vehicles by the automotive sector calls for dependable and safe packaging to shield delicate electronic components from vibration, temperature changes, and other environmental influences.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Industrial Electronics Packaging Market Size in 2022 | USD 1.9 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 4.1% |
| 2032 Value Projection | USD 2.8 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 210 |
| Tables, Charts & Figures | 246 |
| Segments covered | Material Type, Packaging Type, Protection Level, Application, Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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Raw material costs, shipping, and packaging expenditures among other ongoing cost challenges electronics manufacturers must deal with. A great difficulty is juggling performance and cost-effectiveness with quality. Packaging has to keep up with developing technologies including 5G, IoT, and artificial intelligence as electronics progress to satisfy the needs of the most recent products. Supply chain interruptions can cause delays in acquiring packaging materials and influence manufacturing plans. Therefore, the high-end cost and the hazards related to Industrial electronics packaging could lower the acceptance rate, therefore impairing the company development.
COVID-19 Impact
Variations in demand for industrial electronics goods brought about by the epidemic changed the demand for packaging as well. While some sectors, like automobile and aircraft, suffered declining demand due to lockdowns and economic uncertainty, others, like healthcare and telecommunications, saw growing demand for technological gadgets. Therefore, it is expected that the lower number of COVID-19 cases and the application of later policies by government and non-governmental entities will propel the company development in the next years.
Industrial Electronics Packaging Market Trends
Miniaturization of electronics components is still a trend that drives demand for small and space-efficient packaging solutions able to fit smaller and tightly packed electronic circuits while offering safety and thermal control. Advanced materials such conductive polymers, nanocomposites, and biodegradable materials—which help to improve performance, boost thermal conductivity, and solve environmental issues—are being used increasingly in the industry.
Industrial Electronics Packaging Market Analysis
Product-based segmentation of the industrial electronics packaging market includes plastics, metals, ceramics, composites, etc. In 2022 plastics had a majority market value of USD 0.6 billion. With their large range of formulas, plastics and polymers are flexible and fit for many package designs including flexible and unique forms. For electronics components, particularly in uses where weight reduction is crucial, the light weight of plastics and polymers is perfect. Moreover, a rising consumption will hasten the segmental development.
The market is split according on packaging type as Trays, Tubes, Bags and pouches, Boxes and cases, Racks and cabinets, Others. With a leading market share of about 40% in 2022, trays are predicted to expand at a profitable rate through 2032. Carrier and tray systems provide a safe and protective way to move and handle fragile electronic components, therefore avoiding damage during assembly and transportation.
Standard packaging, electrostatic discharge packaging, electromagnetic interference shielding, hermetic packaging, etc are the several segments of the industrial electronics packaging market based on protective degree. With a leading market share in 2022 and expected to rise at 3.2% CAGR by 2032 Standard Packaging Tough settings include automotive, aerospace, and heavy machinery call for packaging able to endure mechanical shocks and vibrations for industrial electronics.
Applied-based segmentation of the industrial electronics packaging market is semiconductor packaging, power electronics packaging, industrial control systems packaging, telecommunications equipment packaging, automation and robotics equipment packaging, others. With a commanding market share in 2022, semiconductor is expected to rise at 3.5% CAGR up to 2032. Packaging solutions that can resist mechanical loads and strong vibrations encountered are sought for by the semiconductor sector.
U.S. dominated the North American region with majority market share and a revenue of USD 0.42 billion in 2022 and is anticipated to expand at a significant pace from 2023-2032. North America has robust electronics manufacturing sector, producing a wide range of electronic components, devices, and equipment. This manufacturing base drives the demand for packaging solutions to protect and transport these products. Thus, the above-mentioned variables would augment the Industrial electronics packaging business growth in the North America positively.
Industrial Electronics Packaging Industry Leaders
Some of the major players operating in the Industrial electronics packaging market are;
- DS Smith Plc
- Smurfit Kappa Group Plc
- UFP Technologies Inc
- Sealed Air Corporation
- Achilles Corporation
- Desco Industries Inc
- Botron Company Inc
- Kiva Container Corporation
- Orlando Products Inc
- Delphon Industries LLC
- Summit Container Corporation
- Protective Packaging Corporation
- Dou Yee Enterprises (S) Pte Ltd
- Dordan Manufacturing Company Inc
- GWP Group Limited
These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
Industrial Electronics Packaging Industry News
- In October 2021, Smurfit Kappa Group announced that it had completed the acquisition of Verzuolo, which is a recycled containerboard company based in Northern Italy, for a cost of US$ 382.53 million.
- In May 2020, KLA Corporation announced its new business group that is projected to be completely focused on its electronics, packaging, and components (EPC) businesses.
Industrial electronics packaging market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion & Units from 2018 to 2032, for the following segments
By Material Type
- Plastics
- Metals
- Ceramics
- Composites
- Others
By Packaging Type
- Trays
- Tubes
- Bags and pouches
- Boxes and cases
- Racks and cabinets
- Others
By Protection Level
- Standard packaging
- Electrostatic Discharge packaging
- Electromagnetic Interference shielding
- Hermetic packaging
- Others
By Application
- Semiconductor packaging
- Power electronics packaging
- Industrial control systems packaging
- Telecommunications equipment packaging
- Automation and robotics equipment packaging
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Indonesia
- Malaysia
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Egypt
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