Battery Packaging Market Size To Elevate USD 105.9 Billion By 2034

(MENAFN- GlobeNewsWire - Nasdaq) The global battery packaging market size is calculated at USD 37.73 billion in 2025 and is expected to elevate USD 105.9 billion by 2034, growing at a CAGR of 12.15% from 2024 to 2034.

Ottawa, Nov. 27, 2024 (GLOBE NEWSWIRE) -- The global battery packaging market size was appraised at USD 33.64 billion in 2024 and is predicted to hit around USD 94.43 billion by 2033, a study published by Towards Packaging a sister firm of Precedence Statistics.

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Battery Packaging Market: An Overview and Industry Potential

Battery packaging refers to conductive materials used to encase batteries. These materials prevent contact between terminals and provide moisture resistance, which further prevents battery erosion. Battery packaging protects battery cells from extreme temperature changes by avoiding contact with external factors like light, oxygen, and moisture. The inner packaging of fibreboard prevents short circuits, and the outer packaging of materials like metals protects against heavy impact.

It is important to note that different battery types, like cells, modules, and packs, need different types of packaging that ensure battery transit. For instance, shipping lithium batteries are dangerous, which is why rechargeable lithium-ion and lithium polymer cells and batteries need to be packaged properly to prevent damage. With the rising usage of electronic devices, such as smartphones, laptops, and IoT devices, the need for batteries is increasing, boosting the demand for battery packaging.

Battery packaging is designed to prevent battery discharge during transit and provide protection against physical damage, short circuits, and other hazards. Materials like polypropylene (PP) are excellent for battery packaging due to their low electrical conductivity, good chemical resistance, and high temperature tolerance. Battery packaging reduces battery damage and increases their shelf life.

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Battery Packaging Market Trends

• Rising Adoption of Electric Vehicles (EVs): With the rapid shift toward EVs, the demand for long-lasting batteries is increasing. However, battery packaging minimizes leakage of chemical substances and prevents fire risks, thereby enhancing the performance and shelf life of batteries.
• Advancements in Materials: Advancements in packaging materials have enabled manufacturers to develop efficient packaging solutions. Materials such as aluminum foil, thermoplastics, and composites guarantee battery safety, address thermal issues, and help reduce battery weight.
• Focus on Sustainability: There is a shift toward environmentally friendly packaging solutions . This encourages manufacturers to use recyclable and sustainable materials in battery packaging, further reducing the environmental impact of battery packaging waste.
• For instance, In July 2024 , Panasonic Energy, a subsidiary of Panasonic Group, introduced new paper-based packaging for its consumer batteries in Australia, significantly reducing plastic usage by 75%.
• Lightweight Packaging: The demand for lightweight packaging solutions is rising due to the increasing usage of portable electronic devices, such as mobile devices and wearables. Lightweight materials used in battery packaging further reduce the overall weight of batteries.
  

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Insights from Key Regions

Asia Pacific's Sustained Dominance in the Market: Growth Prospects to Support Future Market Growth

In 2023, Asia Pacific dominated the battery packaging market with the largest share due to the increased consumption of electronic devices and the rapid expansion of IT and telecom businesses. Countries like South Korea, China, and India are the manufacturing hubs of electronic devices. The expansion of the EV and electronics sectors is a major factor contributing to regional market growth.

Japan's tech-savvy lifestyle has increased the demand for electronic devices, consequently boosting the demand for batteries and battery packaging. India's EV sector is witnessing rapid growth due to government subsidies and investments in boosting the production of lithium batteries and building charging stations. Government initiatives like the FAME Scheme in India encourage the adoption of electric and hybrid vehicles. Moreover, China is the largest producer of lithium-ion batteries, which contributes to regional market growth.

• In June 2023, PPG established a battery pack application center (BPAC) in Tianjin, China. The facility features a full range of capabilities to test the application of PPG coatings technologies, materials, and systems for electric vehicle (EV) battery packs, allowing customers to accelerate the development of new EV technologies.
  

Increasing Adoption of Smart Electronics to Boost the North America's Market

North America is expected to witness the fastest growth in the battery packaging market during the forecast period. A highly skilled labor force in engineering and technology fields to support innovations in battery packaging solutions. Strict regulations for lithium-based batteries and the rising adoption of EVs and smart electronics boost the market growth.

The rising focus on sustainable packaging materials creates immense opportunities for regional market players. In addition, the rising number of solar and wind power plants boosts the need for batteries to store power, significantly contributing to regional market growth.

• In October 2024, Fortescue Zero announced plan to establish Advanced Manufacturing Centre in the U.S. state of Michigan to produce battery packs that leverage its scalable battery module (SBM) technology.
  

Battery Packaging Market Opportunity

The rising need for batteries to store surplus power creates immense opportunities in the market. With the rising number of solar, wind, and thermal power plants, there is a high demand for batteries, which propels market growth. Moreover, rising technological advancements in packaging methods boost the market. Integrating technologies like AI and ML automates the packaging process by aiding in design optimization.

Technological advancements can lead to advanced packaging solutions that comply with strict environmental regulations and ensure the effective use of materials, ultimately reducing packaging waste. The upcoming trend of graphene batteries, a major replacement of lithium-based batteries, will improve and enhance battery performance in EVs. The use of zinc-based batteries is rising due to their low-rate self-discharge and maximum energy storage capacity. The rising use of iron-based batteries in large energy storage plants further boosts the market.

Battery Packaging Market Segment

• By battery type, the lithium-ion segment dominated the market with the largest share in 2023. This is primarily due to the lower costs and the ability of lithium-ion batteries to store a large amount of energy. These batteries are widely used in EVs, given their ultra-fast charging feature and suitability for the storage of renewable energy. The increasing production of EVs significantly contributes to segmental growth.
• By level of packaging, the cell and pack packaging segment held the largest market share in 2023 due to its cost-effectiveness. Cell and pack packaging uses advanced packaging techniques to streamline the manufacturing process, thereby reducing time and production costs. This packaging provides better thermal protection and minimizes the risk of short circuits, enhancing battery performance and shelf life.
• By type of packaging, the corrugated packaging segment held the largest share of the battery packaging market in 2023. This is mainly due to the efficiency of this packaging in providing superior protection against moisture and vibrations. This packaging reduces the risk of overheating by allowing better air circulation. The increasing demand for sustainable packaging solutions contributes to segment growth. However, corrugated packaging can be recycled.
• By casing, the cylindrical segment dominated the market in 2023 by capturing a large share. The cylindrical design provides enhanced robustness and protection against external impact. Cylindrical batteries do not swell or change their shape during charging-discharging processes.
• By material, the cardboard segment held the dominant share of the market in 2023 due to its cost-effectiveness. The easy availability of this material makes it the most preferred material for battery packing.
  

Competitive Landscape

Major players operating in the battery packaging market are NEFAB GROUP, Wellplast AB, C.L. Smith, DGM, Söhner Kunststofftechnik GmbH, GWP Protective, Manika Plastech Pvt. Ltd., Covestro AG, Labelmaster, VIKING PLASTICS, Trinseo, CHEP, EaglePicher Technologies, Anchor Bay Packaging, TOPPAN Inc., Corplex; Air Sea Containers (US), Econovus, Epec, LLC, Great Northern Corporation, and Amperex Technology Limited. These companies are making efforts to drive innovation and expand their geographical presence.

TOPPAN Inc.'s subsidiary TOPPAN INFOMEDIA received the Diamond Award for its paper-based bag for dry batteries to reduce packaging material use by 38% to 60% depending on size and CO2 emissions by over 50%.

Recent Developments in the Market

• In October 2024, IONETIC, a UK-based EV battery pack technology start-up, unveiled an AI-supported development system, Arc, that reduces battery pack development costs and time-to-market for custom battery packs.
• In April 2024, Chinese battery giant CATL and bus maker Zhengzhou Yutong Bus Co. recently launched a 'long-life' EV battery pack meant for new-energy commercial vehicles. The pack has a lifespan of about 15 years and 1.5 million kilometers.

More Insights in Towards Packaging:

• The global automotive packaging market size is estimated to grow from USD 8.18 billion in 2022 to reach an estimated USD 13.87 billion by 2032, at 5.4 % CAGR between 2023 and 2032.
• The global frozen food packaging market size is predicted to grow from USD 43.36 billion in 2022 to reach USD 71.67 billion by 2032, at 5.2% CAGR from 2023 to 2032.
• The global flexible packaging market size is estimated to grow from USD 283 billion in 2022 to reach an expected USD 445.82 billion by 2032, at 4.7% CAGR during the forecast period 2023 to 2032.
• The global food packaging market size was valued at USD 356.5 billion in 2022 and is expected to reach USD 659.80 Billion by 2032 and is poised to grow at a CAGR of 6.4% during the forecast period 2023 to 2032.
• The global smart packaging market size was estimated at USD 36.04 billion in 2022 to set a foot on USD 68.99 billion by 2032 with a registered CAGR of 6.8% from 2023 to 2032.
• The global plastic packaging market size reached USD 381.57 billion in 2022 and is projected to hit around USD 584.09 billion by 2032, growing at a CAGR of 4.4% from 2023 to 2032.
• The global intelligent packaging market size accounted for USD 24.23 billion in the year 2023 and it is predicted to hit around USD 54.38 billion by 2032, registering at a CAGR of 9.4% from 2023 to 2032.
• The global reusable packaging market size was estimated at USD 113.77 billion in 2022 and is projected to reach a revised size of USD 197.11 billion by 2032, growing at a CAGR of 5.7% from 2023 to 2032.
• The global recyclable packaging market size accounted for USD 28.7 billion in 2022 and it is predicted to hit around USD 46.15 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.
• The global pharmaceutical packaging market size is estimated to grow from USD 117.23 billion to reach an estimated USD 322.50 billion by 2032, growing at a CAGR of 10.7% from 2023-2032.

Battery Packaging Market Segments

By Battery Type

• Lithium Ion
• Lead Acid
• Nickel Cadmium
• Mercury
• Silver Oxide
• Nickel Metal Hydride
• Alkaline
• Others

By Level of Packaging

• Cell and Pack Packaging
• Transport Packaging

By Type of Packaging

• Corrugated Packaging
• Blister Packaging
• Others
  

By Casing

• Cylindrical
• Pouch
• Prismatic
• Coin
• Others
  

By Material

• Metals
• Aluminum
• Steel
• Copper
• Plastics
• Polypropylene
• Polyethylene
• Polyvinyl Chloride
• Polystyrene
• Polyamide
• Polyethylene Terephthalate
• Cardboard
• Others
  

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)
  

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About Us

Towards Packaging is a leading global consulting firm specializing in providing comprehensive and strategic research solutions. With a highly skilled and experienced consultant team, we offer a wide range of services designed to empower businesses with valuable insights and actionable recommendations. We stay abreast of the latest industry trends and emerging markets to provide our clients with an unrivalled understanding of their respective sectors. We adhere to rigorous research methodologies, combining primary and secondary research to ensure accuracy and reliability. Our data-driven approach and advanced analytics enable us to unearth actionable insights and make informed recommendations. We are committed to delivering excellence in all our endeavours. Our dedication to quality and continuous improvement has earned us the trust and loyalty of clients worldwide.

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