In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Conductive bags or anti-static bags are ideal for shipping electronic items which may be affected by electrostatic. A wide range of conductive bags are available in the market to meet every shipping and packaging needs of the consumers. Further, the industries are adopting such bags to prevent and accidents or explosion due to electrostatic discharge (ESD) effects.
Global conductive bags market is poised to grow at a considerable CAGR over the forecast period. Further, the conductive bags market is expected to ride on the back of increasing demand for conductive bags in various industries for transporting materials which may affected by electrostatic discharge.
Regionally, global conductive bags market is segmented into North America, Latin America, Europe, Asia Pacific and Middle East & Africa regions. Further, Asia Pacific region is anticipated to capture major market shares by the end of forecast period i.e. 2017-2024. Further, rapid industrialization in Asia countries and growing safety concerns amongst the industries are expected to be the major factors behind the rapid expansion of conductive market in Asia Pacific region. Further, booming consumer electronics market in Asia Pacific is also a major factor which is predicted to bolster the growth of market in upcoming years.
Apart from Asia Pacific, North America conductive bags market is also projected to grow at satisfactory pace over the forecast period. This growth in North America region can be attributed to a number of factors such as increasing environment and safety concerns among the industries and reusability features of conductive bags. Further, the global conductive bags market is segmented by end use industry, which includes automotive, semiconductor & electronics industry, health equipment industry, chemical industry and others.CLICK TO DOWNLOAD FREE SAMPLE
Semiconductor & electronics industry segment by end-use industry is likely to grow at maximum pace over the forecast period. High chance of explosion due to electro static discharge during transporting bulk electronic goods is a major factor which is fuelling the growth of this segment.
Our in-depth analysis has segmented global conductive bags market into the following segments:
Global conductive bags market is further classified on the basis of region as follows:
The global conductive bags market is primarily driven by rapid industrialization across the globe, especially in developing countries such as China and South Korea. Further, the demand for conductive bags is increasing in applications such as transportation of chemicals, explosive and electronics goods.
Further, rising environmental and safety concerns amongst industries is a dynamic factor which is expected to intensify the growth of global conductive bags market in upcoming years.
Industries are continuously looking for safer and effective packaging solutions and unmatchable features of conductive bags to prevent expositions and other hazardous are expected to bolster the growth of market of conductive bags in upcoming years.
Additionally, growing consumer electronics market and increasing demand for electronics goods are also fuelling the growth of market. China is a leading supplier of electronic goods and it exports bulk electronic goods to various countries. Further, increasing globalization and rising transportation activities of electronic goods are projected to bolster the growth of market in upcoming years.
However, presence of alternative packaging solutions such as static bags and others and lack of strict government regulation to ensure use of conductive bags for transportation of electronic goods are expected to be the major restraints behind the decline in growth of global conductive market.