Battery Packaging Market Grow with CAGR of 12.4% Focuses on Top Companies, Region and Opportunities | Nefab Group, United Parcel Service Inc., DHL, Zarges Group

The global battery packaging market is forecast to reach USD 53.04 Billion by 2026, according to a new report by Reports and Data. The packaging industry has spread its feet in practically all areas, regardless of whether it is food, pharmaceutical, customer products, and so forth. Cells, or more commonly known as batteries, are an integral part of our daily lives. The expanding entrance of batteries in practically all the prominent industries has led to a rising demand for safe battery packaging solutions. Battery packaging makers are now focusing on customizable packaging solutions for batteries, depending on size requirements.

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The market for battery packaging is influenced by the rising demand for battery packs from electric vehicle manufacturers and energy storage industries. Increasing awareness of users towards zero-emission vehicles and favorable government policies are significantly helping the market to grow. However, higher cost and low efficiency of sustainable technology are slowing down the market growth.

Key participants include
Nefab Group, United Parcel Service Inc., DHL, Zarges Group, Heitkamp & Thumann Group, FedEx, Rogers Corporation, DS Smith, Smurfit Kappa, and Umicore, among others.

The green revolution in the Asia Pacific region and incentives offered by the government towards the electric vehicle manufacturers as well as the customers are set to drive the market in this region. Most of the developing countries are looking at China as the global market. China's population is equivalent to 18.59% of the total world population, and the market is expected to record the highest growth during the forecast period, due to the presence of leading battery manufacturers in the region

For the purpose of this report, Reports and Data have segmented into the global battery packaging market on the basis of type of battery, material, type of packaging, level of packaging, and region:

Type of Battery Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Lithium-Ion
Lead-Acid

Material Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Metals
Plastics
Cardboards
Others

Type of Packaging Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Corrugated
Blister
Others

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Level of Packaging Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Cell & Pack Packaging
Transportation Packaging

Regional Outlook (Revenue, USD Million, 2016 - 2026)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

Further key findings from the report suggest

-Lithium-Ion held the largest market share of 57.9% in the year 2018. Due to higher efficiency and higher energy density in a compact size, lithium-ion batteries are favorable choices for various end-users such as automotive, energy storage, and consumer electronics industries.
-In terms of the level of packaging, the cell & pack packaging is expected to account for the majority of the global battery packaging industry during the forecast period. Increased adoption of EVs has resulted in growth in the production of batteries. The cell and pack packaging are forecasted to grow with a higher CAGR of 12.6% throughout the forecast period.
-Corrugated packaging held the largest market share of 36.5% in the year 2018. As these are cheaper in comparison to blister packs and more number of batteries can be fitted and transported easily, the developing countries such as India and China have a high demand for this type of packaging...Continued

The report emphasizes the following key questions

Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?
Q.5. What are the hurdles and challenges curtailing the industry growth in the forecast period?

Find the extensive Report Description, TOC and Table of Figure @ https://www.reportsanddata.com/report-detail/battery-packaging-market

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