The global industrial electronics packaging market currently enjoys a valuation of US$ 1.9 Bn, and is predicted to expand at a CAGR of 4.1% to attain a net worth of US$ 2.5 Bn by the end of 2029.
| Industrial Electronics Packaging Market Size (2022) | US$ 1.9 Bn |
| Estimated Market Worth (2029) | US$ 2.5 Bn |
| Global Market Growth (2022-2029) | 4.1% CAGR |
| Dominant Material for Packaging Industrial Electronic Products | Plastic – 57.4% Share |
Nearly 3.5% annual growth is expected in the volume consumption of industrial electronics packaging solutions, in 2022. As indicated by a new market research study of Future Market Insights (FMI), nearly 70% of the demand for industrial electronics packaging is generated by industrial controls and power electronics.
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More than 90% of the overall industrial electronics packaging solutions are in the rigid format. Flexible packaging formats, although rapidly gaining ground across industries, holds a negligible share in packaging of industrial electronics.
Material-wise, plastics currently hold nearly 60% share in industrial electronics packaging materials and are likely to retain dominance in the global industrial electronics packaging market. The report opines that polyethylene (PE) will remain the most rewarding segment in the industrial electronics packaging market, followed by polyvinyl chloride (PVC), according to the report.
Asian Economies Hold Promising Investment Opportunities for Industrial Electronics Packaging Companies
North America is estimated to be the most prominent industrial electronics packaging market, the report also points to the robust growth in East Asia’s market attractiveness over the years to come. The East Asian market for industrial electronics packaging will thus remain a significant regional contender in the industrial electronics packaging landscape, according to FMI’s analysis.
In East Asia, Japan holds more than 50% of the market share, followed by China. South Asia is also cited as a highly lucrative investment pocket for manufacturers of industrial electronics packaging solutions, potentially outpacing other regional markets in terms of growth rate. Growth of South and East Asian market is attributed to robust manufacturing of consumer electronics and swelling demand for impact-resistant protective packaging solutions.
Europe is another prominent market for industrial electronics packaging, more than 60% of which is accounted by Germany. The country will continue to spearhead European market owing to towering rate of production of semiconductor components and equipment.
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Europe & the US Account for a Massive Share in Global Production of Industrial Electronics
Manufacturers of industrial electronics packaging are eyeing business expansion across countries with high consumer electronics production, as an effort to strengthen their foothold in the global industrial electronics packaging market. Leading manufacturers of industrial electronics packaging are either based out of the US or Europe, or have a strong presence in these regions, as both the markets hold a collective share of more than 60% in the global production of industrial electronics.
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About Packaging Division at Future Market Insights
The Packaging division at FMI provides an in-depth historical analysis and granular projections of the global packaging market. Ranging from packaging materials to designs & formats, FMI has an exhaustive market research database, serving clients with unique offerings and strategic recommendations. With a repository of 750+ reports, the team analyzed the packaging industry comprehensively in 70+ countries.