As per the report titled ‘Battery Packaging Material Market Size By Battery Type, By Packaging Materials By Packaging Cases, Industry Analysis Report, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026’, available with Market Study Report, global battery packaging market is expected to register a healthy growth rate throughout the forecast duration.
 

Escalating battery usage in consumer electronics and high demand for lithium ion batteries in automotive sector, particularly in electric vehicles, are the major growth drivers of global battery packaging material.
 

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For the uninitiated, battery packaging material play a vital role in effective functioning of the batteries. These materials keep the batteries durable, reliable, and safe. Majority of the companies utilize plastic based materials such as polycarbonate that can fulfill the customer’s battery packaging requirements.
 

A multitude of packaging and boxes are used globally for shipping batteries and electronic based components. Batteries like Li-ion ones fall under the dangerous good category, making packaging material to be UN-certified.
 

Thus, focus towards avoiding fire accidents will continue to fuel the demand for battery packaging materials. However, strict government directives regarding battery packaging along with disruptions caused by the Covid-19 pandemic on the manufacturing industry may negatively impacting the business landscape, cites the study.  
 

Elaborating on battery type, global battery packaging material market is divided into nickel cadmium, nickel meta hydride, lithium ion, and lead acid. Of these, the report claims that nickel metal hydride segment is projected to expand with a y-o-y growth rate of 5.6% between 2020 and 2026.
 

Speaking of packaging materials, global battery packaging material market is segmented into plastics, cardboard, foam, and wood. As per credible data, foam segment generated revenues amounting to over $1 billion in 2019 and it is anticipated to witness substantial gains over the analysis period.
 

On the geographical front, battery packaging materials market in Latin America accounted for a volume share of over 7% in 2019 and is expected to experience modest growth during the assessment period. Meanwhile, Middle East & Africa battery packaging materials market is set to register a growth rate of over 2.5% through 2026.
 

Key players operating in global battery packaging material market are Zarges GmbH, Umicore N.V., United Parcel Service, Rogers Corp., DHL International GmbH, FedEx Corp., Nefab Packaging Inc., DS Smith plc, Reynolds Group Holdings Ltd., Owens-Illinois Inc., International Paper Co., Ball Corp., Crown Holdings Inc., and Amcor plc.