New York, USA, March 29, 2022 (GLOBE NEWSWIRE) — According to the report published by Research Dive, the global electrostatic discharge (ESD) foams market is expected to register a revenue of $895.2 million by 2030 and grow at a healthy CAGR of 9.5% over the analysis period from 2021-2030. The comprehensive report offers a concise layout of the electrostatic discharge (ESD) foams market’s current framework including prime facets of the market such as growth factors, hindrances, restraints and several opportunities during the predicted period of 2021-2030. The report also provides all the market figures to help new entrants understand the market easily.
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Dynamics of the Market:
Drivers: Growing demand for ESD foams by consumer electronics and automotive industries is expected to drive the global electrostatic discharge (ESD) foams market by 2030. Additionally, increasing product launches and business expansion by key market players is further accelerating the market development during the forecast period.
Opportunities: Increasing utilization of ESD foams in end-user industries like manufacturing, healthcare, defense and military, etc. is predicted to offer abundant growth opportunities for the global electrostatic discharge (ESD) foams market by 2030. Moreover, increasing investments by market players in biodegradable electrostatic discharge package is estimated to further augment the market growth during the analysis years.
Restraints: High costs of electrostatic discharge foams is the main factor estimated to impede the growth of the global electrostatic discharge (ESD) foams market.
Covid-19 Impact on the Market:
The Covid-19 pandemic has adversely affected the global electrostatic discharge (ESD) foams market, just like other businesses and industries. Governments imposed strict lockdowns in several countries to curb the spread of the coronavirus that led to multiple consumer electronics industrial sites staying shut for months. In addition, labor shortages, lack of availability of raw materials, and disruptions in supply chains delayed productions of electronic devices, thus declining the demand for ESD foams. However, the market is projected to revive its growth rate due to uplifting of lockdowns and gradual increase in the demand for ESD foams by end-user industries.
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Segments of the Market:
The report has fragmented the market into a few segments based on end-user and regional outlook.
End-user: Consumer Electronics and Computer Peripheral Sub-segment to be Most Dominant
By end-user, the consumer electronics & computer peripheral sub-segment of the global electrostatic discharge (ESD) foams market is estimated to have an enormous market share and grow at a healthy CAGR of 9.6% in the 2021-2030 timeframe. This immense growth rate is due to the growing utilization of ESD packages by consumer electronics and computer peripheral to safely transfer electronic products from one place to another.
Region: Market in the North America Region to be Highly Lucrative
By regional outlook, the electrostatic discharge (ESD) foams market in the North America region is projected to have the highest market share and grow at 9.0% CAGR in the 2021-2030 timeframe. Increasing adoption of technological devices by manufacturing and automobile industries is boosting the transportation of consumer electronics devices, thus accelerating the demand for ESD foams. Moreover, presence of some prominent manufacturing units of ESD foams in the North America region is also expected to propel the market growth in the region by 2030.
Report Overview & TOC: https://www.researchdive.com/8558/electrostatic-discharge-esd-foams-market
Key Market Players:
Some key players of the electrostatic discharge (ESD) foams market include Elcom (UK) Ltd., BASF, DowDuPont, Smurfit Kappa Group, Tandem Equipment Sales Inc., PPG Industries, TIP Corporation., Global STATCLEAN SYSTEMS, Desco Industries, Conductive Containers Inc., and many more. These players are working on building strategies such as product developments, merger and acquisitions, partnerships and collaborations to assist the market enhancement.
For instance, in February 2022, PPG Industries, a global supplier of paints, coatings, and specialty materials, announced its acquisition of Arsonsisi, a leading industrial coatings company in Italy, to expand its powder coatings offering in the EMEA region. The acquisition will also enable PPG Industries to include metallic bonding, which is the fastest growing market for powder coatings, therefore, further enhancing its portfolio.
The report also sums up many vital aspects of the global market including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic enhancements.
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Analyst Review: https://www.researchdive.com/8558/Anlyst-Review/electrostatic-discharge-esd-foams-market