The global plastic battery containers market size is expected to reach USD 28.90 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 6.7% from 2022 to 2030. The growing number of electric vehicles and the rising renewable industry around the world are the factors expected to drive the growth. Plastic battery containers are used in power backup, telecom, and valve-regulated lead acid battery (VLRA) among others. Plastic battery containers hold the battery plates, cast-on straps, and electrolytes and reduce the impact of vibration and improve the battery lifecycle.
Plastic Battery Containers Market Report Highlights
- Lead acid dominated the battery segment with a share of more than 49% in 2021 and is expected to maintain a healthy growth rate over the forecast period
- The growing demand for electric and hybrid vehicles is expected to drive the demand for plastic battery containers over the forecast period
- Polypropylene (PE) led the resin segment with a revenue share of more than 73% in 2021 due to its better functional properties as compared to other resins
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Growing renewable energy development around the world has increased the demand for battery energy storage systems (BESS). These systems are available in a wide range of storage and power capacity and can serve small-scale household devices to large-scale systems used for industrial applications and utilities. According to International Energy Agency, the number of electric vehicles sold in 2021 was 6.6 million which accounts for ten percent of global car sales.
The total number of electric cars in the world reached around 16.5 million, which is triple the number in 2018. The demand for electric cars is strong in 2022 with two million cars sold in the first quarter, up seventy-five percent from the same period in 2021. This rapid growth in electric vehicles is going to drive the plastic battery container market over the forecast period.
The COVID-19 pandemic and the Russia-Ukraine war have disrupted the supply chains worldwide, and heavily impacted the automotive industry. Because of this reason, the market may experience lesser growth in the short term. However, in the long term, corporate and government efforts to decarbonize transportation are providing strong support for the growth in EV sales which in turn will drive the plastic battery container market.
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List of major companies in the Plastic Battery Containers Market
- LyondellBasell Industries Holdings B.V.
- VIKING PLASTICS
- SGL Carbon
- TIRTH POLYMERS PVT. LTD.
- Biasin Srl
- Xiamen Tmax Battery Equipments Limited
- Kdpolymers
- Sanatan
- AkumsanDesigned
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Segmented the global plastic battery containers market based on battery, resin, and region:
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
Chapter 2. Executive Summary
2.1. Market Summary
2.2. Segmental Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.3.2. Manufacturing Trends
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.7. Business Environment Analysis
3.7.1. Industry Analysis - Porter’s
3.7.1.1. Supplier Power
3.7.1.2. Buyer Power
3.7.1.3. Substitution Threat
3.7.1.4. Threat from New Entrant
3.7.1.5. Competitive Rivalry
3.7.2. PESTEL Analysis
3.7.2.1. Political Landscape
3.7.2.2. Environmental Landscape
3.7.2.3. Social Landscape
3.7.2.4. Technology Landscape
3.7.2.5. Economic Landscape
3.7.2.6. Legal Landscape
Chapter 4. Plastic Battery Container Market: Battery Estimates & Trend Analysis
4.1. Battery movement analysis & market share, 2021 - 2030
4.2. Lead Acid
4.2.1. Global Plastic Battery Container market, in the lead - acid estimates and forecasts, 2019 - 2030 (USD Million)
4.3. Lithium Ion
4.3.1. Global Plastic Battery Container market, in lithium-ion estimates and forecasts, 2019 - 2030 (USD Million)
4.4. Others
4.3.1. Global Plastic Battery Container market, in other estimates and forecasts, 2019 - 2030 (USD Million)
Chapter 5. Plastic Battery Container Market: Resin Estimates & Trend Analysis
5.1. Resin movement analysis & market share, 2021 - 2030
5.2. Acrylonitrile Butadiene Styrene (ABS)
5.2.1. Global Plastic Battery Container market, in acrylonitrile butadiene styrene estimates and forecasts, 2019 - 2030 (USD Million)
5.3. Polypropylene (PE)
5.3.1. Global Plastic Battery Container market, in Polypropylene estimates and forecasts, 2019 - 2030 (USD Million)
5.4. Others
5.4.1. Global Plastic Battery Container market, in other estimates and forecasts, 2019 - 2030 (USD Million)
