USD 26.88 Billion
Battery Packaging Market Size, Share, Growth Analysis, By Type (Metal, Plastics, and Others), By Battery Type(Lithium Ion, Lead Acid, Nickel Cadmium, and Others), By Casting Type(Cylindrical, Prismatic, Coin, and Others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20D2238 |
Region:
Global |
Published Date: April, 2024
Pages:
203
|Tables:
92
|Figures:
71
Battery Packaging Market Insights
Global Battery Packaging Market size was valued at USD 26.88 Billion in 2022 and is poised to grow from USD 29.48 Billion in 2023 to USD 61.83 Billion by 2031, growing at a CAGR of 9.7% in the forecast period (2024-2031).
The global battery packaging market has changed dramatically over the past two decades. The global battery packaging market is expected to grow on the back of growth in consumer electronics and increasing technology. The steady demand for batteries is expected to boost the demand for battery packaging solutions, globally. Another important factor expected to drive the growth of the global market is innovation in battery packaging design. They are more likely to purchase a battery packaging solution that provides better productivity.
Advances in automotive and consumer electronics have fueled the growth of the global battery packaging market in the last few years. Economic superpowers like India and China have strategies to double production in the next five years. All these factors contribute to the growth of the global battery packaging market. Despite the positive outlook, there are some factors that could restrain the growth of the global battery packaging market including increasing demand for batteries to be integrated into electronic devices. Many devices come with built-in batteries, which require no packaging.
Market Snapshot - (2024-2031)
Global Market Size
Largest Segment
Metal
Fastest Growth
Plastic
Growth Rate
9.7% CAGR
Global Battery Packaging Market ($ Bn)
Country Share for North America Region (%)
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Battery Packaging Market Segmental Analysis
The global battery packaging market is segmented by type, battery type, casting type, and region. Based on type the market is segmented as metal, plastics, and others. Based on battery type, the market is segmented as lithium ion, lead acid, nickel cadmium, and others. Based on casting type, it is segregated into cylindrical, prismatic, coin, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
Metal is the dominant component in the global battery packaging market due to its long-standing use in battery enclosures and protection. Metals such as aluminum and steel provide strong durability and excellent thermal absorption, making them desirable for enclosed batteries, especially in industrial and automotive applications.
However, plastic is the fastest growing material in the global battery packaging market. This growth is due to their particularly lightweight nature, which is particularly advantageous in emerging applications such as portable electronics and electric vehicles Plastics offer design versatility, cost-effectiveness and capacity for materials new in packaging solutions. With increasing emphasis on reducing weight and increasing energy efficiency, plastics are gaining ground as a preferred material for battery packaging, fueling rapid growth.
Analysis by Casting Type
Cylindrical casting type currently dominates the global battery packaging market due to its widespread use in applications such as lithium-ion batteries, which are widely used in consumer electronics and electric vehicles. Cylindrical batteries are preferred due to green design and high energy density.
Further, prismatic casting type is the fastest growing segment in the global battery packaging market. This increase is generally attributed to the increasing use of prismatic lithium-ion batteries in electric vehicles and electric garage systems. Prismatic batteries offer advantages in aerospace performance and design flexibility, making them desirable for businesses looking for compact, customized battery solutions.
Global Battery Packaging Market By Type (%)
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Battery Packaging Market Regional Insights
North America dominated the global battery packaging market. This dominance can be attributed to the widespread adoption of advanced battery technologies, especially in electric vehicles and renewable energy. North America’s robust manufacturing and technology infrastructure, with strong safety guidelines density has led to calls for advanced packaging for batteries.
However, Asia Pacific is the fastest growing global battery packaging market. The growth is driven by rapid expansion in the use of electronic devices and automotive industries especially in emerging countries such as China and India. Increasing urbanization, increasing disposable income, growing awareness in energy, a sustainable solution is the demand for batteries, so batteries, in Asia Pacific. Aside from packaging and incentives, the authorities’ initiatives and incentives for adoption of electric vehicles also contribute to this growth trajectory.
Global Battery Packaging Market By Geography
- Largest
- Fastest
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Battery Packaging Market Dynamics
Drivers
Technological Advancements
- Continued innovation in battery technology is driving demand for cutting-edge packaging solutions that offer high performance, safety and durability. Manufacturers are focusing on developing lightweight and compact packaging to meet the evolving needs of various applications, leading to market growth.
Increasing Adoption of Electric Vehicles (EVs)
- The global shift towards sustainable transportation solutions is driving demand for battery-powered electric vehicles. As automakers ramp up production of electric vehicles to meet stricter emissions regulations and meet consumer demand for cleaner vehicles, packaging batteries are on the market is growing rapidly.
Restraints
Compliance Challenges
- Strict regulations on transportation, handling and disposal of batteries pose compliance challenges for market players. Compliance with safety standards and environmental regulations complicates design and manufacturing processes, which can hinder market expansion.
Supply Chain Disruption
- The global battery packaging market is susceptible to supply chain disruptions through factors such as raw material shortages, geopolitical pressures and unforeseen natural disasters in the infrastructure and supply chain can disrupt production planning and limit market growth opportunities.
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Battery Packaging Market Competitive Landscape
The competitive scenario of the global battery packaging market is characterized by various companies competing for market share. These companies are based on factors such as product quality, innovation, and cost. As demand for batteries increases in sectors such as automotive, utility, and renewable energy, competition intensifies. Marketers focus on R&D efforts if products advanced packaging is used to meet evolving industry standards and address environmental concerns. In addition, partnerships and collaborations between competitors are common strategies to expand their markets and cater to a wider customer base. This competitive environment fosters innovation and allows firms to continuously improve their product offerings to meet the evolving needs of the battery industry.
Top Player’s Company Profiles
- Nefab Group (Sweden)
- United Parcel Service Inc. (US)
- DHL (Germany)
- Zarges Group (Germany)
- Heitkamp & Thumann Group (Germany)
- Umicore SA (Belgium)
- Amcor Plc (Switzerland)
- Mondi Group (Austria)
- Huhtamaki Group (Finland)
- DS Smith Plc (UK)
- Smurfit Kappa Group (Ireland)
- Pregis LLC (US)
- Sonoco Products Company (US)
- International Paper Company (US)
- Sealed Air Corporation (US)
Recent Developments
- In April 2022, Deutsche Post DHL Group, announced a new response to packaging requirements for retailers to make freight cost-effective and it is not environmentally friendly.
- In June 2021, ZARGES introduced a new product called the ZARGES K 470 battery box. This innovation provides safety for hazardous materials through packaging. This strategic product release will be to spruce up the ZARGES product portfolio.
- By 2021, United Parcel Service (UPS), a U.S. provider of battery packaging and shipping services, has established a new battery packaging and shipping facility in Canada, a strategic move that it will contribute significantly to the growth and expansion of the global battery packaging market.
Battery Packaging Key Market Trends
- Rising Emphasis on Sustainability in Battery Packaging: A key trend in the global battery packaging market relates to the increasing emphasis on sustainability and environmental responsibility. As the demand for batteries increases in sectors such as automotive, power utilities, energy storage and renewable energy, stakeholders recognize the importance of adoption environmentally friendly packaging solutions this trend is driven by increased environmental concerns, regulatory pressures and consumer demands for sustainability routine activities. To reduce the environmental impact of packaging batteries, manufacturers are actively exploring new materials such as bio-based plastics, recycled metals and manufacturable polymers compostable in addition to a concerted effort to optimize packaging design for better recycling and end-of-life management. Collaboration between industry, government agencies and environmental organizations accelerates the adoption of sustainable practices throughout the battery supply chain While prioritizing sustainability in supply chains packaging, manufacturing and manufacturing, the stakeholders aim to reduce consumption, reduce waste, reduce battery production. This disposal and environmental reduction trend are not only consistent with corporate environmental goals, but also meets growing societal concerns about environmental issues protection of our environment is also addressed, thus the future scenario of the global battery packaging market.
Battery Packaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global battery packaging market is witnessing robust growth driven by the increasing use of batteries in various applications such as consumer electronics, automotive, energy storage and industrial sectors etc. The proliferation of electric vehicles (EVs) and renewable energy systems accelerates battery needs, so battery packaging. Advances in battery technology, such as lithium-ion batteries and solid-state batteries, are spurring industry expansion. Additionally, new innovations in packaging solutions aim to improve safety, productivity, and efficiency. However, compliance by market participants remains a crucial aspect. Strict regulations on transportation, handling and disposal of batteries pose compliance challenges for market players.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 26.88 Billion |
| Market size value in 2031 | USD 61.83 Billion |
| Growth Rate | 9.7% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Battery Packaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Battery Packaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Battery Packaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Battery Packaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Battery Packaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Battery Packaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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