Battery Packaging Material Market Size
The market for battery packaging materials was worth more than $8.8 billion in 2019 and is expected to grow at a rate of 3.8% per year over the next several years. The need for heavy products in the electronics and automotive industries will drive demand for the product throughout the forecast period.
It is typical for businesses like food, consumer goods, and completed items like electronics and mechanical equipment to use packaging. In the last few decades, it has become more important to have the right packaging for devices that are getting bigger, including batteries. The market for battery packaging materials is likely to develop at the same rate as the demand for lithium ion batteries.
| Report Attribute | Details |
|---|---|
| Base Year | 2019 |
| Battery Packaging Material Market Size in 2019 | 8.8 Billion (USD) |
| Forecast Period | 2020 to 2026 |
| Forecast Period 2020 to 2026 CAGR | 3.8% |
| 2026 Value Projection | 11.4 Billion (USD) |
| Historical Data for | 2016 to 2019 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 286 |
| Segments covered | Battery type, Packaging materials, Packaging cases |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
Electric car makers and those who utilize energy storage units will push the need for battery packaging to use battery packs. Strict rules on packaging will be one of the main things that keep the battery packaging material market from growing.
One of the primary reasons these rules are in battery packaging is because of the potential of battery leakage and the damage it could do to property and operating capability. The coronavirus, on the other hand, will also be a major factor that slows the growth of battery packaging. The global market will also be limited by the fact that coronavirus might spread through packing materials.
Battery Packaging Material Market Analysis
There are different types of batteries that make up the battery packaging material market, such as lithium ion, lead acid, nickel cadmium, and nickel metal hydride. Lithium ion will be the fastest-growing form of battery since more and more electric vehicles and solar energy systems need them. Battery is becoming more popular in these fields because it has a high energy density and doesn't lose charge quickly. The packaging industry for lithium ion batteries is predicted to develop by 3.4% during the next few years.
The battery packaging materials market is also divided into groups based on the types of materials used, such as cardboard, wood, foam, and plastic. These are the most frequent materials used in packing, and they are also good for moving and handling complicated battery stacks.
The plastics are further sub segmented into following types, including, polyethylene terephthalate, HDPE, polypropylene, PVC, and others. The other materials in plastics are LDPE, Polystyrene etc. Among the segment, the cardboard and wood material are expected to grow at the 3.9% and 3.5% CAGR.
Batteries such as lithium ion have the potential to start fires or explode. Hence, proper steps are taken to avoid such risks. Cardboard packaging is made of 2 or 3 sheet of cardboard lining to provide greater structural strength to the package. Wood and cardboard also have moisture soaking capacity, which protects the battery from damage. It is due to their easy availability, sturdiness, sustainability and low-cost, cardboard and wood considered a reliable option for battery packaging.
The sort of cases used to package batteries also has a lot to do with how safe they are while they are stored, moved, and handled. There are different types of battery cases, such as corrugated, hardwood boxes, plastic cases, foams, and others. The battery packaging industry is split along these lines. The other group includes casings made of rubber and other comparable materials.
While packaging batteries, special steps are taken to provide greater stability to the product during handling and transportation. In 2019, corrugated boxes or cardboard boxes had the largest share of 62.78% in the battery packaging material market.
Corrugated or cardboard is a common term for strong paper products which includes, card stock, paperboard, and corrugated fiberboard. Corrugated fiberboard is made by gluing a flat sheet of paper to a corrugated (wavy) sheet of paper. Its design gives the case a tear resistant property that protect the batteries from exposure. corrugated are largely recyclable and result in increased adoption of sustainable practices among the intermediaries in the value chain.
The growing use of biodegradable cardboard boxes may increase the sustainability factor of battery packaging operations.
In terms of regional growth, Asia Pacific will be the fastest growing region where the battery packaging material market share will observe 4.1% CAGR. Sturdy economies such as China, Japan and South Korea are major countries where the battery packaging will be a major activity. Till 2019, China held almost 70% of the market share due to its major share in battery production. However, coronavirus crisis is expected to result in economic downturn. As result, the production of batteries in general is forecasted to suffer. It will result in lowering of the share of China over the forecast period.
Japan and India, along with China, are likely to be big markets for battery packing because more and more people are buying electric automobiles in these nations. In India, the solar energy sector is also growing by leaps and bounds. According to the India Brand Equity Foundation, India was the fifth biggest producer of solar energy in the world in 2018.
South Korea’s has a strong domestic battery industry that supports its electric vehicle industry. Battery companies such as LG Chem and SK Energy together represent 20% of the global lithium ion battery market, which provides a greater avenue for the growth of battery packaging material market in overall Asia Pacific.
Battery Packaging Material Market Share
The global industry is largely consolidated with presence of major battery packagers such as Nefab and Fedex holding a major share in the market. However, the availability of battery packaging material manufacturers are largely fragmented with the presence of organizations such as
- Ball Corporation
- Amcor
- Crown Holding
- Owens-Illinois
- Reynolds Group
- International Paper Company
- DS Smith
Many players are also play significant role in packaging of other industry products such as food, pharmaceuticals etc. Major players try to leverage their market position through acquisitions and mergers. Small scale manufacturers are also growing in emerging countries, posing a serious challenge to the top players. Some of the key players in the battery packaging material industry are
- Nefab
- Fedex
- DHL
- Rogers Corporation
- United Parcel Service (UPS)
- Umicore
- Zarges
Battery packaging material market report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue in Kilo Tons and USD Million from 2016 to 2026, for the following segments
By Battery Type
- Lithium ion
- Lead acid
- Nickel cadmium
- Nickel metal hydride
By Packaging Materials
- Cardboard
- Wood
- Foams
- Plastics
- Polyethylene Terephthalate
- HDPE
- Polypropylene
- PVC
- Others (LDPE, Polystyrene etc.)
By Packaging Cases
- Corrugated
- Wooden boxes
- Plastic cases
The above information is provided on a regional and country basis for the following
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Russia
- APAC
- China
- India
- Japan
- Australia
- Thailand
- South Korea
- LATAM
- Brazil
- Mexico
- MEA
- South Africa
- Saudi Arabia
- UAE
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