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Battery Packaging Market- Competitive Analysis, Opportunity & Forecast, 2027
Global Battery Packaging Market By Type [Lead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium], By Packaging Materials [Foam, Wood, Cardboard, Plastics (HDPE, Polyethylene Terephthalate, PVC, Polypropylene)], By Packaging Cases [Wooden Boxes, Corrugated, Plastic Cases], By Region [North America, Europe, Asia Pacific, Middle East & Africa and Latin America], Forecast & Opportunities, 2015-2027
Market Overview
Global Battery Packaging Market is expected to grow with a CAGR over 12.5% over the forecast period, 2020-2027 due to growing adoption of electric vehicles and rising alternate energy sources.
Battery packaging is gaining importance as electronics are flooding the market. As batteries need to be safely packed, it needs special care and attention to prevent any hazards. Rising renewable energy and technological advancements in battery storage is influencing the growth of the market.
However, risk associated with battery leaks and operational capacity are some of the factors hindering the growth of the Battery Packaging Market globally.
Market Segmentation
Global Battery Packaging Market can be segmented into Type, Packaging Materials, Packaging Cases and Region.
By Type, Global Battery Packaging Market can be segmented intoLead Acid, Lithium Ion, Nickel Metal Hydride, Nickel Cadmium.Lithium Ion battery packaging segment is expected to grow significantly due to growing demand for highly efficient lithium ion battery.
By Packaging Materials, Global Battery Packaging Market can be segmented intoFoam, Wood, Cardboard, Plastics (HDPE, Polyethylene Terephthalate, PVC, Polypropylene).The cardboard segment holds the largest market share as it is easily available, low cost and sustainable.
By Packaging Cases, Global Battery Packaging Market can be segmented intoWooden Boxes, Corrugated, Plastic Cases. The Wooden boxes segment is expected to grow significantly during the forecasted period of 2020-27 as it is commonly used in packaging sector.
By Region, Global Battery Packaging Market can be segmented intoNorth America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Regional Analysis
Regionally, Asia Pacific Battery Packaging Market is expected to grow significantly during the forecasted period of 2020-27 due to rising adoption of battery cars in the region. Countries like India, South Korea and China are major hubs for battery packaging. In India, increasing solar energy projects are expected to create demand for batteries. Moreover, China dominates the region with largest market share in battery production. These factors are expected to contribute to the growth of the Battery Packaging Market in this region.
Competitive Analysis
The key players in Global Battery Packaging Market are Amcor, Owens-Illinois, International Paper Company, Umicore, Ball Corporation,DS Smith, Crown Holding,Nefab, Fedex, DHL, Rogers Corporation, Reynolds Group,United Parcel Service (UPS), Zarges and other market players.
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