The battery packaging market is projected to grow from USD 20.6 billion in 2018 to USD 36.2 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 12.0% during the forecast period. The growth of the battery packaging market can be attributed to the increased consumption of batteries in the automotive, energy storage, and consumer electronics industries.
Nefab Group (Sweden), United Parcel Service Inc. (US), DHL (Germany), Zarges Group (Germany), Heitkamp & Thumann Group (Germany), FedEx (US), Rogers Corporation (US), DS Smith (UK), Smurfit Kappa (Ireland), and Umicore (Belgium) are some of the leading players operating in the Battery packaging market. These players have adopted expansion, investment, acquisition, partnership, agreement, and joint venture strategies. The battery packaging market is witnessing high growth as various companies have expanded their areas of operation and production capacities to strengthen their market position. Expansions and acquisitions have been the most dominant strategy adopted by major players from 2014 and 2018. In July 2018, Smurfit Kappa acquired Reparenco (Netherlands) for USD 538.4 million. This acquisition is in line with the company’s strategy to increase its capacity for recycled containerboard in Europe. This strategy was also undertaken by DS Smith in June 2018, when it acquired Europac (Italy), a leading player in the Western European packaging market, for USD 2.2 billion. This acquisition will bolster DS Smith’s presence in Western Europe’s fast-growing packaging market.
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To capitalize the growing demand for batteries, leading players are expanding their production capacities. In June 2018, UPS opened a new shipping center in Arlington, Texas (US) by investing USD 200 million. This facility created employment for around 1,400 workers to facilitate shipments. This expansion comes as a strategic investment by UPS to improve its efficiency and connectivity across UPS hubs and transportation network. In May 2017, UPS constructed a new distribution center in Edgerton, US. This development helped the company expand its Kansas operations and facilitate smoother shipments. In January 2017, H&T Nevada (US), a business unit of H&T, started its production facility in Gigafactory jointly with Tesla (US). This new production facility is embedded in the production line of Tesla, creating a synergy. This development helped H&T increase its market presence in the cell packaging segment.
In January 2014, H&T Dongguan (China) expanded the production capacity for cans as well as for flat parts used in batteries. This production facility helped H&T achieve its ambitious growth strategy, making it become a leading player in the supply of metal components for the lithium-ion battery technology used in hybrid and battery electric vehicles.
Battery Packaging Market by Type of Battery (Lithium-ion, Lead-acid), Level of Packaging (Cell & Pack Packaging, Transportation Packaging), and Region (APAC, North America, Europe, South America, Middle East and Africa) - Global Forecast to 2023
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