ESD Foam Packaging Market - Higher Dimensional Stability Driving Growth
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Companies in the market compete on the basis of cost and features of their products. To gain a larger hold on the market, leading vendors have diverted their focus on consolidation activities through strategic collaborations and mergers and acquisitions.
According to the report, the global ESSD packaging market is expected to exhibit a promising 6.3% CAGR over the period between 2017 and 2022, rising to a valuation of US$233.8 mn by 2022.
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In terms of application, the segment of electric and electronic component accounts for the dominant share in the market and is likely to remain the most lucrative application segment over the forecast period as well. Geographically, the market in Asia Pacific, except Japan, is likely to emerge as the most promising regional market over the report’s forecast period.
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The market is likely to benefit from the rising adoption of internet of things (IoT) across the globe and the corresponding rise in uptake of a variety of small and large electronics and electrical devices that require proper transportation to ensure that tiny components are not harmed.
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