Global Battery Packaging Market Report and Forecast 2024-2032

Global Battery Packaging Market Outlook

The global battery packaging market size was approximately USD 32.73 billion in 2023. The market is further projected to grow at a CAGR of 8.8% between 2024 and 2032, reaching a value of USD 71.71 billion by 2032.

Key Trends in the Market

Within the battery pack, the energy is stored in cells that are interconnected. An energy storage system (ESS) or an electric vehicle (EV) are two examples of electrical systems that rely on battery packs to supply power. Battery packs are composed of several smaller components known as sub packs or battery modules. Typically, they are handled safely because they are at a lower voltage.

• The rising requirement for electric and hybrid vehicles and the growth of the sports car sector globally are propelling the battery packaging market demand. EV batteries are large, full-sized batteries designed to power the car's traction motor and accessories, as well as the whole range. Present-day EV batteries can use 90% to 95% of the total energy, which is a significantly higher percentage than traditional battery solutions.

• The growth of the consumer electronics sector and medical devices market supports the market growth for battery packaging, as everything from massive hospital capital equipment to tiny implantable devices is powered by lithium-ion batteries. The rising smartphone penetration, coupled with the growing demand for tablets and laptops is further supporting the market expansion.

• Increasing initiatives by various governments to reduce carbon emissions, coupled with advancements in battery technology, including the development of lightweight and high-performing lithium ion batteries, are further supporting the market expansion.

Battery Packaging Market Segmentation

Based on battery type, the market is divided into lithium ion, lead acid, and nickel cadmium, among others. On the basis of material type, the market is segmented into metal and plastics, among others. Based on the type of packaging, the market is classified into blister packaging and corrugated packaging, among others.

On the basis of casing type, the market is segregated into cylindrical, prismatic, and pouch, among others. Based on the level of packaging, the market is bifurcated into cell and pack packaging, and transport packaging. The major regional markets for battery packaging are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global battery packaging market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Covestro AG 

• Trinseo Plc 

• DS Smith Plc 

• Nefab AB 

• Wellplast AB 

• TriEnda Holdings, LLC 

• Sohner Kunststofftechnik GmbH 

• C.L. Smith Company 

• Heitkamp & Thumann Group 

• Others

Market Share by Battery Type

According to the battery packaging market analysis, lithium-ion batteries hold a significant share in the market. From smartphones to electric cars, lithium-ion batteries are now widely used as an energy source for a wide range of consumer gadgets. They can be made to fit into any size of electronic equipment. Additionally, they are appropriate for portable electronic devices such as digital watches, laptops, and medical equipment because of their lightweight design and long-lasting battery life. Furthermore, the technology of rechargeable lithium-ion batteries is rapidly gaining popularity for portable power banks, allowing people to continuously supply power to their devices while travelling. These batteries come in standardized sizes, which further supports the segment growth.

Market Share by Region

North America holds a significant battery packaging market share owing to the presence of leading battery manufacturers and automotive companies such as Tesla, Inc., BMW AG, and Honda Motor Company in the region. The increasing consumer demand for electric and hybrid vehicles is further fostering the growth of the market.

Meanwhile, Europe is another growing market for battery packaging due to the European Commission’s aspirational goal to reduce carbon emissions and achieve carbon neutrality by 2050. Stringent government regulations and consumer demand for electric and hybrid vehicles fuel the battery packaging market growth.

Competitive Landscape

Covestro AG, founded in 2015, is a chemical manufacturing company that is involved in the manufacture of high-quality polymer materials and their components. The company also specialises in battery packaging, adhesives, coatings, and polyurethane, among others.

Heitkamp & Thumann Group, founded in 1978, is a renowned worldwide collaborator for the creation and provision of premium precision-formed plastic and metal components. Robust innovation and established proficiency guarantee prosperous, enduring collaborations, which strengthens the market position of the company.

DS Smith plc, founded in 1940, is a global packaging company that provides integrated recycling services, sustainable paper products, and packaging that is free of plastic. The company has its shares listed on the London Stock Exchange with ticker symbol SMDS (LON: SMDS).

Other battery packaging market players include Trinseo Plc, Nefab AB, Wellplast AB, TriEnda Holdings, LLC, Sohner Kunststofftechnik GmbH, and C.L. Smith Company, among others.

Key Highlights of the Report