Increasing Demand for lightweight and durable products has Propelled the Growth of the Plastic Battery Containers Market in the APAC Region!

The Asia-Pacific region has experienced rapid economic growth in the last few years. Due to leading to an increase in demand for lightweight and durable products. This is mainly from the automotive and electronic industries as the industries require both kinds of products lightweight and strong that can sustain for a longer period. Such materials that are a surge in demand for plastics are increasingly being used for battery containers due to their excellent properties such as durability, corroding, resistance, and cost-effectiveness. The lightweight nature of plastic also reduces the overall weight of the battery, making it more efficient and easier to handle. Thus, many new manufacturers are establishing their business setups in the market. Also, investing in advanced technologies to produce high-quality plastic products that in turn increases the demand for plastic battery containers across the region.

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Further, the APAC Plastic Battery Containers Market is expected to grow at a steady CAGR of 5% during the forecast period (2022-2030). APAC is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the increasing prevalence of electric vehicles backed by growing disposable income and surging per capita spending of individuals in the emerging economies of the region is driving the growth of the market. Moreover, the growing demand for portable devices and the presence of leading manufacturers are further expected to support market growth within the region.

Based on battery type, the market is bifurcated into lead acid and lithium ion. Lithium Ion category is expected to grow with a significant CAGR during the forecast period. This is mainly owing to the rising demand for lithium ion in various industries, such as telecommunications, aerospace, military, automotive, and consumer electronics. Additionally, the increasing demand for lithium ion is used while making electric vehicle batteries. Therefore, Lithium-ion batteries are used in more than a hundred automotive applications, such as hybrid cars and electric cars. Thus, increasing demand for vehicles has increased the number of lithium-ion battery production in turn increasing the market value of plastic battery containers.

On the basis of Resin, the market is categorized into acrylonitrile butadiene styrene (ABS), polypropylene (PP), and others. Among these, polypropylene is expected to grow with a significant CAGR during the forecast period. This is mainly due to Most of the auto battery compartments and their covers being made of polypropylene as it offers a high solidarity to-weight proportion and brilliant compound obstruction. Furthermore, Polypropylene holders can be shaped with flimsy walls and parcels which builds the accessible corrosive volume and makes it conceivable to have higher capacities with respect to given sizes and new minimized battery plans. Moreover, polypropylene (PP) battery cases have a high reusing rate.

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Global Plastic Battery Containers Market Segmentation

Market Insight, by Battery Type

· Lead Acid

· Lithium Ion

Market Insights, by Resin

· Acrylonitrile Butadiene Styrene (ABS)

· Polypropylene (PP)

· Others

Market Insights, by End-User

· Automotive

· Consumer Electronics

· Industrial

Market Insight, by Region

· North America

o U.S.

o Canada

o Rest of North America

· Europe

o Germany

o U.K.

o France

o Spain

o Italy

o Rest of Europe

· APAC

o China

o India

o Japan

o Rest of APAC

· Rest of the World

Top Company Profiles

· DuPont

· LyondellBasell Industries Holdings B.V.

· VIKING PLASTICS

· SGL Carbon

· TIRTH POLYMERS PVT. LTD.

· Biasin Srl

· Xiamen Tmax Battery Equipments Limited.

· Sanatan Autoplast Pvt Ltd.

· Akumsan

· Mold-Rite Plastics