Battery Packaging Market Forecasts to 2030 – Global Analysis By Material Type (Metal, Cardboard, Plastics and Other Material Types), Packaging Type (Corrugated, Blister and Other Packaging Types), Packaging Level, Battery Type, Casing Type, Application an

Battery Packaging Market Forecasts to 2030 – Global Analysis By Material Type (Metal, Cardboard, Plastics and Other Material Types), Packaging Type (Corrugated, Blister and Other Packaging Types), Packaging Level, Battery Type, Casing Type, Application and by Geography

According to Stratistics MRC, the Global Battery Packaging Market is accounted for $34.14 billion in 2024 and is expected to reach $66.32 billion by 2030 growing at a CAGR of 11.7% during the forecast period. Battery packaging is a vital component of the battery supply chain, particularly for lithium-ion batteries used in electric vehicles, consumer electronics, and renewable energy storage. Batteries, classified as dangerous goods due to their chemical makeup, need to ensure both safety and regulatory compliance. UN-certified packaging options are crucial, taking into account the battery's weight, mode of transportation, and condition. Moreover, businesses that provide customized packaging that reduces transportation risks and stops leaks include Wellplast and Corplex.

According to the International Energy Agency (IEA), global electric car sales reached nearly 14 million in 2023. Electric car sales are projected to reach around 17 million by the end of 2024.

Market Dynamics:

Driver:

Increase in consumer electronics

The market for battery packaging is also significantly influenced by the widespread use of portable electronics like tablets, laptops, and smartphones. The need for compact batteries with effective packaging is growing as the market for these devices keeps growing. Additionally, a substantial majority of households use internet-connected devices, according to the Australian Bureau of Statistics, underscoring the expanding consumer electronics market. With more and more battery types requiring creative and effective packaging solutions, this trend offers manufacturers of battery packaging significant opportunities.

Restraint:

Elevated cost of raw materials

One major obstacle is the growing price of the raw materials, which include metals, plastics, and specialty composites, that are used in battery packaging. Price fluctuations for these materials have the potential to impact manufacturers overall production costs. Furthermore, the pressure to keep costs low may result in compromises in packaging quality or safety features as businesses work to maintain profitability while upholding quality standards, which could have a negative effect on the market.

Opportunity:

Developments in battery technologies

The chemistry and technological advancements of batteries bring opportunities and challenges for battery packaging. Solid-state batteries, lithium-sulfur batteries, and sodium-ion batteries are examples of emerging battery types that need special packaging to suit their particular needs. It is necessary for manufacturers to modify their packaging strategies in order to guarantee secure handling, transportation, and incorporation of these cutting-edge batteries into diverse applications. Moreover, packaging companies will have opportunities to develop cutting-edge solutions as battery technology continues to evolve and the need for creative and efficient packaging grows.

Threat:

Supply chain interruptions

The battery packaging sector is largely dependent on an intricate international supply chain for its components and raw materials. Production schedules and costs can be greatly impacted by supply chain disruptions, such as shortages of vital materials like nickel, cobalt, and lithium. These disruptions, which cause delays and higher costs for manufacturers, can be brought on by trade restrictions, natural disasters, or geopolitical tensions. Additionally, the continuous difficulties in obtaining a steady supply of necessary materials pose a threat to businesses' capacity to meet consumer demand, which could stifle opportunities for the industry to grow.

Covid-19 Impact

The COVID-19 pandemic had a major effect on the battery packaging market by stopping production, upsetting supply chains, and lowering demand in a number of industries. The production of batteries for electric vehicles and consumer electronics faced delays as a result of global business closures and transportation restrictions, which decreased demand for battery packaging solutions. Stay-at-home directives and quarantine restrictions led to closed mines and idled factories, which made supply chain problems worse. Furthermore, massive layoffs and economic uncertainty reduced consumer spending, which had an impact on electric cars and high-end smartphones in particular.

The Cardboard segment is expected to be the largest during the forecast period

Due to its economical and sustainable qualities, the cardboard segment of the battery packaging market is anticipated to hold the largest market share. Cardboard packaging is a popular choice for manufacturers looking for environmentally friendly solutions because of its lightweight nature, which lowers shipping costs and has a positive environmental impact. Moreover, cardboard is biodegradable and readily recyclable, which is consistent with the industry's growing focus on sustainability. Because of its adaptability, it can be used in a variety of designs and configurations that work with different kinds of batteries, such as lead-acid and lithium-ion batteries.

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

In the battery packaging market, the corrugated packaging segment is anticipated to grow at the highest CAGR. The primary reason for this growth is corrugated cardboard's exceptional protective and cushioning properties, which significantly reduce impact resistance during handling and transportation. Batteries are shielded from impact during transit by the air cushion created by the fluted layer of corrugated packaging. Furthermore, corrugated materials' appeal is increased by the growing need for environmentally friendly and recyclable packaging options.

Region with largest share:

The market for battery packaging is dominated by the Asia-Pacific region. The main causes of this dominance are the existence of significant battery producers like South Korea, Japan, and China, who have made significant investments in battery production and technology. Additionally, the demand for effective battery packaging solutions is greatly fueled by the rapid growth of consumer electronics and electric vehicles (EVs) in this region. Supportive government programs that encourage sustainable transportation and renewable energy also contribute to the market's growth.

Region with highest CAGR:

Due to the rising demand for consumer electronics and electric vehicles (EVs), the North American region is anticipated to have the highest CAGR in the battery packaging market. Major battery producers like LG Chem, Panasonic, and Tesla are driving this growth by increasing their production capacity to meet the growing demands of the electronics and automotive industries. Furthermore, the market's potential is further enhanced by government initiatives that support electric mobility and renewable energy, as they foster an environment that is favorable to battery innovation and packaging solutions.

Key players in the market

Some of the key players in Battery Packaging market include Mondi Group Plc., DS Smith Plc, Nefab Group, Amcor Plc, Covestro AG, Heitkamp & Thumann Group, Zarges Group, Ball Corporation, Umicore SA, Sonoco Products Company, Wellplast AB, Toppan Inc., Söhner Kunststofftechnik GmbH, Amperex Technology Limited, Smurfit Kappa Group Plc. and EaglePicher Technologies.

Key Developments:

In July 2024, German polymer materials manufacturer Covestro has entered a long-term power purchase agreement (PPA) with energy giant BP. Under the ten-year agreement, bp will supply Covestro with a substantial gigawatt hours volume of renewable electricity, along with guarantees of origin to certify the energy’s green credentials.

In April 2024, Sweden-based Nefab Group, through its US division Nefab Packaging, has completed the acquisition of Plastiform and its subsidiary Precision Formed Plastics. The acquisition is intended to bolster the company’s global market position and its commitment to resource-saving supply chains.

In March 2024, UK-based packaging company Mondi has announced an agreement in principle for a potential all-share offer to acquire its smaller rival DS Smith for £5.14bn ($6.57bn). The agreement follows after Mondi confirmed last month that it was considering a possible all-share offer for its competitor DS Smith.

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

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

Packaging Levels Covered:
• Cell & Pack Packaging
• Transportation Packaging

Battery Types Covered:
• Lead Acid Battery
• Lithium Ion Battery
• Nickel Metal Hydride Battery
• Nickel Cadmium Battery
• Lithium Titanate Oxide (LTO) Battery
• Other Battery Types

Casing Types Covered:
• Pouches
• Cylindrical
• Prismatic
• Other Casing Types

Applications Covered:
• Automotive
• Consumer Electronics
• Industrial
• Medical Devices
• Military & Defense
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
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 2022, 2023, 2024, 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