Battery Packaging Market

Battery Packaging Market Size (2023-2028)

The Battery Packaging Market is estimated to reach a value of USD 62.04 billion by the end of 2028, with a CAGR of 14.8% during the forecast period of 2023-2028

Batteries have become our day-to-day life. Based on the size of the cell, the battery packaging manufacturers focus on their packaging solutions. They are used in pharmaceuticals, consumer products, and so on. Nowadays, products that include batteries are toys for children, remotes for television, air-conditioning, remote control cars, etc. Safe packing of batteries is to be done without any chemical leakage. Usage of cheap and high production of cells/batteries includes benefits like the flexibility of design and implementation. Batteries are made of chemical elements. While transportation, these batteries should be safely packed, as there should be no chemical leakage. The safe battery packing is done, which appreciates inclination. Sustainable transport and energy are driving the growth of the market. The demand for a high number of batteries in shape and size is driven by consumer electronics together coupled with technological advancements.

The lithium-ion battery is most widely used by consumers that are going to record the market with USD 72.3 billion by 2025, with a CAGR of 16.2%. Most consumers use batteries which consist of the Li-ion battery. APAC is leading to hold the most substantial market value in the battery packaging industry. Corrugated packaging, bliss boxes, and strip packaging have excellent penetration in the global battery packaging market. Lithium-ion batteries are mostly transported to Europe and North America. Most of the countries are looking at China, as it is presumed to have a record of the highest growth during the forecast period as a leading manufacturer in the APAC region. Most of the gadgets are having in-built batteries which don’t require packing. 

The battery packaging market consists of a few stakeholders like raw material suppliers, manufacturers, and processors in the supply chain market. Inconstancies in any of these can result in a slow expansion rate of this business.

Drivers in the Battery Packaging Market:

The rising use of batteries in the automotive industry, mainly in electric cars and electric scooters is the driving factor, which has boosted the growth of the global battery packaging market. Majorly lithium-ion batteries are employed in almost all industries owing to their more density and better efficiency characteristics. The battery industry is among the quickest developing industries across the world and is among the most exported products on the globe. The growing regions are quickly investing in the international battery industry, therefore, driving the packaging industry to develop. The industry of customer electronic devices has seen major changes in the past decade. The worldwide battery packaging industry is expected to raise on the grounds of customer electronics segment advancement and increasing industrialization. The constantly enduring call for batteries is foreseen to boost the call for battery packaging solutions, over the world. Another major factor foreseen to drive the advancement of the worldwide battery packaging industry is the development in battery packaging structures. Battery packaging system that gives great product presentation is foreseen to be bought more frequently. Advancement in the customer electronics and automobile industries, over the most recent couple of years, has boosted the advancement of the worldwide battery packaging industry. All of these factors is responsible for driving the advancement of the worldwide battery packaging industry. The constant rising call for batteries is estimated to boost the requirement for battery packaging solutions in the world. Escalated funds in the battery-making industry have boosted the development in the cell & pack packaging sector.

The increasing awareness relating to substitute sources of energy and escalating adoption of electric vehicles to control the ever-rising carbon footprint has boosted the call for lithium-ion batteries worldwide. Batteries are estimated to experience the escalated application in the foreseen period that in turn, is estimated to translate into expansion for the global battery packaging market.  The worldwide customer electronics market has experienced high transformation in the past couple of years. The worldwide battery packaging industry is estimated to raise on the backdrop of customer electronics industry expansion and rising industrialization. Economic powerhouses like India and China have strategies to double their production result, over the next five years which is estimated to offer high opportunities to the worldwide battery packaging industry. All these factors help drive the expansion of the global battery packaging market. 

Restraints in the Battery Packaging Market:

Nevertheless of the uplifting outlook, there are firm factors that may hinder the development of the worldwide battery packaging industry, involving the growing integration of batteries in electronic products. In spite of the positive outlook, there are some factors that might hinder the expansion of the worldwide battery packaging market including the rising integration of batteries in electronic devices.

Opportunities in the Battery Packaging Market:

Financial powerhouses, for instance, such as China, and India have strategies to two-fold their making yield, in the upcoming years which is probable to give high chances to the global battery packaging industry in the future.

Challenges in the Battery Packaging Market:

Safe battery packaging enjoys good preference, as more the energy, the more is the risk factor for chemical leakage. The high price and low efficiency of sustainable technology are slowing down the industry's growth.

BATTERY PACKAGING MARKET REPORT COVERAGE

Battery Packaging Market segmentation as per the research report until 2028.

Battery Packaging Market - By Battery:

• Lithium-Ion battery 

• Lead-Acid battery

Lithium-Ion Battery is the most common and widely used battery and is also projected to grow at the fastest rate during the forecast period. Due to high efficiency and high energy in size, these lithium-ion batteries are the most favorable choice for the end-users. These are considered to be ideal for EV applications and energy storage.

Battery Packaging Market - By Packaging:

• Cell & Pack Packaging

• Transport packaging

In terms of the level of packaging, cell and pack packaging is expected to account for most of the global battery packaging business in the coming years.

Battery Packaging Market - By Casing:

• Cylindrical

• Prismatic

• Pouch

The most widely used casing is the cylindrical segment for primary and secondary batteries. The applications of these cylindrical batteries are wireless communication, power tools, biomedical tools, and others, which do not require a compact battery size. The Prismatic cell is rectangular and is mainly used for lithium polymer batteries. 

Battery Packaging Market - By Material:

• Metal

• Plastic

• Cardboard

The metal segment is likely to account for a prominent share due to its high compatibility and security compared to its counterparts.

Battery Packaging Market - By Type:

• Corrugated

• Blister

• Others

Corrugated packaging held the largest share of 36.5% in the global battery packaging market as these are cheaper in comparison to blister as well as the number of batteries can be transported easily. Countries like India and China have a massive demand for this type of packaging.

Battery Packaging Market - By Region:

• North America

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa 

The Asia Pacific battery packaging market is leading the global business and is projected to have the largest revenue share in the forecast period. China is the main contributor to the APAC market.

The North America battery packaging market is foreseen to have a moderate revenue share in the global business, followed by Europe. The MEA battery packaging market is also anticipated to have steady growth during the projection period. 

Recent Developments:

• UPS constructed a distribution center in January 2017 that helped the organization to expand its operations and smoother shipments.

• UPS also opened a shipping center in June 2018 in Texas. It plans to improve efficiency and connectivity across the UPS hub and network. 

•  H&T Nevada (US), started its production facility for Tesla, in January 2017. This new production unit is dedicated to the production line of Tesla. This development helped to increase its market presence in the cell packaging segment.

Battery Packaging Market key players:

1. Bemis Company, Inc

2. Amcor Rigid Plastics USA, Inc

3. Ball Corporation

4. Smurfit Kappa Group Plc

5. DS Smith Plc

6. Graphic Packaging International, Inc

7. WestRock Company

8. Mondi Group Plc

9. Stora Enso Ingerois Oy

10. Coveris Holdings S.A

11. Nefab Group

12. United Parcel Inc

13. DHL

14. Zarges Group

15. Heitkamp &Thumann Group