Plastic Battery Containers Market: Current Analysis and Forecast (2022-2030)

Plastic Battery Containers Market: Current Analysis and Forecast (2022-2030)

A plastic battery container is defined as a battery holder made of shaped plastic and ideally framed in a solitary unitary construction. Battery compartments made of shaped plastic, by and large, have inside parcels framed as basic pieces of the base and side walls of the holder and stretch out the entire way to the top edge of the holder to forestall the spillage of fluid between neighboring cells. These compartments are normally shaped as unitary designs in a solitary embellishment activity, with most shape centers characterizing the inside holes which structure the parts. The shape is normally gated at the focal point of the lower end of each segment framing depression and the equal end walls of the compartment.

The Plastic Battery Containers Market is expected to grow at a steady rate of around 5% owing to the growing demand for lightweight and durable products. Major companies in the market offer plastic battery containers with better features for keeping batteries. For instance, in Apr 2021, Novel Materials approached EV battery-box design. A battery enclosure that features a single-piece, metal-reinforced composite tray, and one-piece composite cover is a step closer to an electric vehicle (EV) production application.

• Based on battery type, the market is bifurcated into lead acid and lithium ion. Lithium Ion category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to the rising demand for lithium ion in various industries, such as telecommunications, aerospace, military, automotive, and consumer electronics. Additionally, the increasing demand for lithium ion is used while making electric vehicle batteries. Therefore, Lithium-ion batteries are used in more than a hundred automotive applications, such as hybrid cars and electric cars. Thus, increasing demand for vehicles has increased the number of lithium-ion battery production in turn increasing the market value of plastic battery containers.
• On the basis of Resin, the market is categorized into acrylonitrile butadiene styrene (ABS), polypropylene (PP), and others. Among these, polypropylene is expected to grow with a significant CAGR during the forecast period. This is mainly due to Most of the auto battery compartments and their covers being made of polypropylene as it offers a high-solidarity-to-weight proportion and brilliant compound obstruction. Furthermore, Polypropylene holders can be shaped with flimsy walls and parcels which builds the accessible corrosive volume and makes it conceivable to have higher capacities with respect to given sizes and new minimized battery plans. Moreover, polypropylene (PP) battery cases have a high reusing rate.
• Based on application, the plastic battery containers market has been classified into automotive, consumer electronics, and industrial. The automotive category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to the increasing demand for electric vehicles. As electric vehicles are lightweight and have compact battery containers to improve the overall efficiency of the vehicle. Also, the automotive industry is also witnessing a shift from lead-acid batteries to lithium-ion batteries which is expected to have a positive impact on market growth.
• For a better understanding of the market adoption of the plastic battery containers industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing prevalence of electric vehicles backed by growing disposable income and surging per capita spending of individuals in the emerging economies of the region is driving the growth of the market. Moreover, the growing demand for portable devices and the presence of leading manufacturers are further expected to support market growth within the region. Also, major players in the market continue to add more products to increase their business portfolio. For instance, In Sep 2022, Amara Raja Batteries proposed backward integration of the plastic molding business. The plastics component for the battery business of MIL caters exclusively to ARBL, providing plastic containers, covers, small parts, handles, and jars that are used in batteries.
• Some of the major players operating in the market include DuPont; LyondellBasell Industries Holdings B.V.; VIKING PLASTICS; SGL Carbon; TIRTH POLYMERS PVT. LTD.; Biasin Srl; Xiamen Tmax Battery Equipments Limited.; Sanatan Autoplast Pvt Ltd.; Akumsan; Mold-Rite Plastics.