Pune India, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Water Resistant Packing Cubes market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Water Resistant Packing Cubes market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Type, Application, and Region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Water Resistant Packing Cubes market are Vasco Bags, Away, eBags, Eagle Creek, Red Oxx Mfg Inc, Anatomie Store, Tumi Inc, Pro Packing Cubes, Osprey Packs Inc, among others. To achieve a substantial market share in the worldwide Water Resistant Packing Cubes market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Due to shifting consumer lifestyles and the increasing need for small, convenient packaging, the market for water-resistant packing cubes is growing. With the growth of travel and tourism across the world, it is projected that the need for water-resistant packing cubes would rise. Water-resistant packing cubes can help keep clothing and other goods more compact so that there is more room in the bags. The brick-like Type of packing cubes makes them easy to stack and helps for proper fit in baggage. Water-resistant packing cubes are great for storing additional items like electronics, cosmetics, and other goods in addition to clothing. The materials utilized to create Water Resistant Packing Cubes, such as plastic, rubber, or their byproducts, are not environmentally friendly. The global market for water resistant packing cubes is being constrained by customers' environmental concerns as well as the fact that these materials are tough to decompose. Due to their water resistance, packing cubes are a great choice for packaging in bad weather. Packing cubes that are water resistant makes it easier to pack, repack, and find items since they may be lifted out of the bag to get the particular item required. This factor is anticipated to expand the market for water-resistant packing cubes internationally during the following ten years.
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Scope of Water Resistant Packing Cubes Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Vasco Bags, Away, eBags, Eagle Creek, Red Oxx Mfg Inc, Anatomie Store, Tumi Inc, Pro Packing Cubes, Osprey Packs Inc, among others among others. |
Segmentation Analysis
Silicone Elastomers Type are expected to be the fastest-growing segment in 2022.
The Type segment is Silicone Elastomers Type, Polyurethane Type, Polyvinylchloride (PVC) Type, Rubber Type, Wax Type, and Others. Silicone Elastomers Type is expected to be the fastest-growing segment in 2022. It is incredibly strong, long-lasting, and flexible. Since silicone elastomers are also non-toxic and odourless, they are ideal for usage. The demand for them is predicted to rise even more during the course of the forecast period.
Electronics is expected to be the fastest-growing segment in 2022.
he Application segment is Marine, Defense, Packaging, Electronics, and Others. Electronics is expected to be the fastest-growing segment in 2022. The purpose of these cubes is to protect these devices from environmental dangers like water damage. The usage of electronics is predicted to increase in the market for selling water-resistant cubes globally. This is a result of the increasing need for water resistant packing cubes in the electronics sector.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Water Resistant Packing Cubes include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. Thanks to the fast growing electronics sector in the area, North America accounts for the highest share of the global market for water resistant packing cubes. due to the region's growing tourist and beachgoer populations. It contributes to the expansion of the market for water-resistant packing cubes globally..
Country Analysis
- Germany
Germany's Water Resistant Packing Cubes Market size was valued at USD 0.8 billion in 2022 and is expected to reach USD 1.5 billion by 2030, at a CAGR of 6.3% from 2023 to 2030. It is anticipated that the significant increase in tourism taking place in Germany would increase demand for water-resistant packing cubes in the area.
- China
China’s Water Resistant Packing Cubes Market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 1.13 billion by 2030, at a CAGR of 6.1% from 2023 to 2030.
Asia-Pacific is the region where the electrical and electronics industry is concentrated, with China leading this market. Another development driver for the Water Resistant Packing Cubes industry in China is the necessity for them in the electronics sector.
- India
India's Water Resistant Packing Cubes Market size was valued at USD 0.7 billion in 2022 and is expected to reach USD 1.8 billion by 2030, at a CAGR of 6.3% from 2023 to 2030. In the plastic and rubber sector, India is predicted to seize the lead. The need for water-resistant packing cubes for electronics is rising along with the popularity of water sports like river rafting, which is now driving the growth of the global market for these containers.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by an increase in the expansion of travel and tourism throughout the world.
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