Plastic Battery Containers Market Overview, Application, Revenue and Forecast 2030

Quadintel recently added a new market research report named “Plastic Battery Containers Market.” The research provides a thorough analysis of the global market in relation to the major growth-influencing opportunities and drivers. The study also maps emerging trends and their effects on current and forthcoming market developments.

The research sheds light on the industry-specific difficulties that the major companies and the Plastic Battery Containers market as a whole are now experiencing. This will eventually assist market players in making profitable investment decisions. Market analysts have researched the market using numerous market segmentations in order to help the main players comprehend its structure.

Global Plastic Battery Containers Market is valued at approximately USD 17.23 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 6.7% over the forecast period 2022-2029.

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Plastic battery containers are battery covers and containers that are designed to clutch the battery plates, electrolytes, and cast-on straps, in order to reduce the impact of vibration and enhance the lifecycle of the battery. Factors such as increasing demand for electric vehicles, rising focus on renewable industry, and rising government support are primarily attributed to the market demand across the world.

According to Statista, in 2020, nearly 2.9 million hybrid electric vehicles are produced globally, which is projected to reach 5.4 million vehicles by the year 2025. Therefore, the rising production of electric vehicles is escalating the demand for plastic battery containers, which, in turn, accelerates the market growth. In addition, the development of emerging economies, as well as growing investment in R&D activities are presenting lucrative opportunities for market growth over the forecasting years. However, fluctuations in the prices of raw materials and the imposition of a stringent framework are hindering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Plastic Battery Containers Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the space in terms of revenue, owing to the increasing adoption of electric vehicles and growth of the emerging countries such as India, China, and Vietnam. As per IBEF, the Indian electric vehicle (EV) market is anticipated to reach USD 7.09 billion (INR 50,000 crore) by the year 2025. Whereas, North America is expected to grow significantly during the forecast period. Factors such as substantial development of the renewable energy sector, as well as, rising investment in research and development activities, are burgeoning the market growth in the forecasting years.

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Major market players included in this report are:

• LyondellBasell Industries Holdings B.V.
• Viking Plastics
• SGL Carbon
• Tirth Polymers Pvt. Ltd.
• Biasin Srl
• Xiamen Tmax Battery Equipments Limited
• Kdpolymers
• Sanatan
• AkumsanDesigned
• LG Chem

Recent Developments in the Market:

In May 2022, LG Chem announced that the company introduced its new advanced plastic material, which is designed to prevent battery thermal runaway.

The detailed segments and sub-segment of the market are explained below:

By Battery Type:

Lead Acid

Lithium Ion

Others

By Resin:

Acrylonitrile Butadiene Styrene (ABS)

Polypropylene (PE)

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

What is the key information extracted from the report?

• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter’s Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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