New York, USA, Jan. 31, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global electrostatic discharge (ESD) foams market is anticipated to generate a revenue of $895.2 million and rise at a CAGR of 9.5% over the estimated timeframe from 2021 to 2030.
As per our analysts, with the increasing use of electrostatic discharge foams in multiple end-use industries, the electrostatic discharge (ESD) foams market is expected to experience a remarkable growth during the forecast period. Besides, the ESD foams protect the product against flammable substances and gases which is predicted to fortify the growth of the market over the estimated timeframe. Moreover, the increasing investments in biodegradable electrostatic discharge foams by several companies are expected to create massive growth opportunities during the analysis timeframe. However, the high cost of electrostatic discharge foams may hamper the growth of the market throughout the forecast period.
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Segments of the Electrostatic Discharge (ESD) Foams Market
The report has divided the market into segments based on end-user, and region.
End-User: Consumer electronics & computer peripheral sub-segment to be Most Productive
The consumer electronics & computer peripheral sub-segment is projected to grow at a CAGR of 9.6% during the analysis timeframe. The increasing use of ESD foams in consumer electronics and computer peripherals to buy and transfer electronic devices from one place to another is expected to bolster the growth of the market sub-segment over the estimated period.
North America Region to Hold the Largest Share of the Market
The North America region is predicted to grow at a CAGR of 9.0% during the forecast period. This is mainly due to the increasing demand for electrostatic-sensitive gadgets in this region. Furthermore, the strong existence of manufacturing facilities in this region to produce ESD foams is expected to drive the regional growth of the market during the analysis timeframe.
Covid-19 Impact on the Electrostatic Discharge (ESD) Foams Market
The outbreak of the Covid-19 pandemic has had a negative impact on the electrostatic discharge (ESD) foams market. Most of the consumer electronic industrial facilities were shut down as the governments of many nations have imposed shutdowns due to the spontaneous spread of the deadly coronavirus. Moreover, the shortage of labor, raw materials, and various other challenges have restricted the production of electrical gadgets. All these factors have declined the growth of the market during the pandemic period.
Key Players of the Market
The major players of the electrostatic discharge (ESD) foams market include
- TIP Corporation
- PPG Industries
- Conductive Containers Inc.
- DowDuPont
- Elcom (UK) Ltd.
- Desco Industries
- Tandem Equipment Sales Inc.
- BASF
- Global STATCLEAN SYSTEMS
- Smurfit Kappa Group
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
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Further, the report also presents other crucial aspects including SWOT analysis, product portfolio, the financial performance of the key players, and the latest strategic development.
More about Electrostatic Discharge (ESD) Foams Market:
- The Role of Electrostatic Discharge (ESD) Foams in Safeguarding Electronic Gadgets
- Global Electrostatic Discharge (ESD) Foams Market to Surpass $895.2 Million by 2030 Due to the Increasing Investments in Biodegradable ESD Package by Various Companies
