Battery Packaging Market

According to Stratistics MRC, the Global Battery Packaging Market is accounted for $30.57 billion in 2023 and is expected to reach $66.32 billion by 2030 growing at a CAGR of 11.7% during the forecast period. Battery packaging is the technique of securing batteries for safety, including lithium-ion, lead-acid, flow batteries, and others. For both primary and secondary batteries, a wide range of cell packaging options and their combinations in modules and battery packs are also available. Batteries are packaged to prevent unexpected wear and tear and to minimize chemical leakage. Battery packaging is used in a wide variety of industries, including automotive, industrial, electronics, and battery packaging.

According to an article published by The European Council of Vinyl Manufacturers in 2021, polyvinyl chloride (PVC) is one of the most used plastics in the world. Global use of polyvinyl chloride exceeds 40 billion tons per year. This factor has increased the overall production capacities for PVC-based battery packaging sheets from various end-use industries such as building and construction, medical, automobile, packaging, and others; thus, offering the most lucrative opportunities for the market.

Market Dynamics:

Driver:

Rise in automobile sector

As several different batteries, including lithium-ion batteries, lead-acid batteries, and silver oxide batteries, find considerable application in numerous cars, battery packaging is frequently connected with the automotive industry. With rising sales and production, the automobile industry is flourishing internationally, which will fuel market expansion over the forecast period. For instance, the European Automobile Manufacturers Association's July 2021 statistics show that in June 2021, registrations of passenger cars ascended, with Germany experiencing the highest demand with a 24.5% increase, followed by Spain (+17.1%) and Italy (+12.6%).

Restraint:

Fluctuation in prices of raw material

Raw materials like polypropylene, polyethylene, polyvinyl chloride, and polyethylene terephthalate are available on the market. These materials are made from petroleum, and as a result, their prices are volatile, which could impede the market's expansion throughout the projection period. Due to lockdown and supply chain restrictions during the pandemic, oil prices plunged historically. However, these changes in oil prices cause changes in the price of petroleum, which changes the price of raw materials. The growth of the battery packaging market during the forecast period may be impacted by such raw material price fluctuations.

Opportunity:

Rise in demand for consumer electronics

Due to the widespread use of various batteries in consumer electronics products, battery packaging is widely used in this industry. Global consumer electronics consumption is rising, which will fuel the market's expansion. For instance, according to data from September 2021 provided by China.org.cn, consumer electronics were among the top categories in online retail sales in Zhejiang, China. In a similar vein, according to data from September 2021 provided by the UK's Office for National Statistics, the value of consumer electronics imported into the European Union during the first quarter of 2021 increased from 108.4 to 109.2. Additionally, due to the increased use of batteries in many consumer electronics products and the strong demand for consumer electronics around the world, the market for battery packaging is expected to rise substantially over the projected period.

Threat:

Regulatory compliance

The battery packaging sector is governed by a number of laws and standards, such as those governing transportation and safety. Research, testing, and compliance procedures must be implemented in order to comply with these regulations. For manufacturers, it can be difficult and time-consuming to stay on top of changing rules and ensure compliance across multiple locations. In spite of this, market growth is anticipated to be hampered throughout the forecast period.

Covid-19 Impact:

The COVID-19 problem had a moderate impact on the market for battery packaging. Some of the major issues that have emerged in the market as a result of the pandemic include disruptions in the supply chain, inactive factories, and the purchase of raw materials. Quick-reaction approaches were adopted by global market participants to maintain their operations. According to Rogers Corporation's COVID-19 response report from April 2020, the company's China campus resumed operations during the pandemic. Due to the automotive industry's decreased demand for batteries as a result of a decline in automobile manufacturing, the market slowed down.

The lithium ion segment is expected to be the largest during the forecast period

Lithium Ion segment dominated the largest share throughout the projection period because high energy density applications like electric and hybrid cars are ideally suited for this kind of battery. In addition, lithium-ion batteries surpass conventional battery technology in terms of rapid charging, portability, and durability. Furthermore, the demand for lithium-ion batteries is rising among automakers and battery producers as a result of their excellent qualities.

The corrugated packaging segment is expected to have the highest CAGR during the forecast period

Corrugated Packaging segment is estimated to witness profitable growth over the forecasted period. Options for printing, branding, and personalization are available with corrugated packaging. Moreover, businesses can add their logos, product details, handling directions, or safety precautions to the packaging to increase brand recognition and convey key signals to consumers. Therefore, during the course of the forecast period, the growth of the market is anticipated to be driven by these features of corrugated battery packaging.

Region with largest share:

Due to the expanding automobile sector, the Asia Pacific region dominated the largest share throughout the extrapolated period. China continues to be the world's largest market for automobiles in terms of both annual sales and manufacturing production. The number of cars produced domestically is expected to reach 35 million by 2025. Furthermore, approximately 26 million vehicles, including 21.48 million passenger automobiles, were sold in 2021, an increase of 7.1% from the year before, according to data from the Ministry of Industry and Information Technology.

Region with highest CAGR:

The North American region is projected to hold the highest CAGR over the anticipated period. In order to enhance grid stability, high demand control, and the integration of renewable energy, North America has been actively implementing energy storage devices. Moreover, for large-scale energy storage projects, such as utility dimension installations, commercial buildings and residential applications, battery packaging solutions are essential.

Key players in the market

Some of the key players in Battery Packaging market include Amara Raja Batteries, C.L. Smith, DGM USA, DHL, DS Smith, Fedex, GWP Group, Heitkamp and Thumann KG, Manika Moulds, Nefab, Rogers Corporation, Smurfit Kappa, Soehner Kunststofftechnik GmbH, Targray Industries, United Parcel Service and Wellplast AB.

Key Developments:

In April 2022, Deutsche Post DHL Group, launched its commercial customers new on-demand packaging solutions to make shipments more cost-effective and environmentally friendly. Ths strategic product launch is projected to increase the potentail sales of compnay's battery pakcgaing solutions.

In November 2020, US-based United Parcel Service which deals with battery packaging and shipping service, opened its new package sorting and delivery hub in Canada. This development will contribute to the expansion of the battery packaging market in the forecast period.

Battery Types Covered:
• Nickel Cadmium
• Lead Acid
• Lithium Ion
• Mercury
• Nickel Metal Hydride
• Silver Oxide
• Alkaline
• Other Battery Types

Material Types Covered:
• Plastics
• Metal
• Cardboard
• Other Material Types

Casing Types Covered:
• Coin
• Prismatic
• Cylindrical
• Pouch
• Other Casing Types

Packaging Types Covered:
• Blister Packaging
• Corrugated Packaging
• Other Packaging Types

Level of Packagings Covered:
• Transportation Packaging
• Cell & Pack Packaging

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances