Market Trends of Consumer Electronics Packaging Industry
This section covers the major market trends shaping the Consumer Electronics Packaging Market according to our research experts:
Paper Packaging Accounted For Significant Market Share in Smartphone
- According to the International Telecommunication Union, it is estimated that 4.30 billion people, representing around 58.7% of the global population, use mobile phones. Surging demand for secured packaging of mobile phone accessories, such as earphones, chargers, and USB cables, is providing a significant momentum to the global mobile phone packaging market growth.
- Smartphones come in their original packaging from their manufacturers. Most of the smartphones are packed in corrugated or cardboard boxes. These are a special type of materials that provide the required protection to the phones packed inside.
- Rigid boxes (also called set-up boxes) are sturdier and do not fold or collapse as folding cartons do. They are used when the product is heavy and in need of extra support. An iPhone box is an example of a rigid box.
- The iPhone packaging is a form of paper over board packaging. The walls of the box are made of super thick chipboard. The outside is a soft touch wrapping paper. Further, the molds are made of heat-molded polystyrene.
- For iPhone, the box mostly is made of a thick fiberboard (paperboard) greater than 24 mils, and the plastic used is PS (polystyrene). Thin plastic components that are flexible are most likely LLDPE or LDPE.
- Most phone boxes are designed to hide the contents of the box, and the phone one just bought. Players are continuously innovating new designs for attracting customers. For instance, RAZR's, on the other hand, is one of the most stylish boxes. It's designed to stand up and comes fully unfolded and ready for the user to pull out. The box features a minimalistic aesthetic that is incredibly appealing.
- Further, according to IBEF, smartphone users in India are expected to increase to 450 million by 2020. This enhances the growth of paper packaging (corrugated) in the coming period.
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Asia-Pacific to Register a Significant Growth Rate
- An increase in spending by the middle class across the region on consumer electronics products such as smartphones, tablets, wearable electronics, televisions, etc. is driving the consumer electronics packaging market growth. The regional market is also witnessing a steadily increasing demand for low cost, less material, and lightweight packaging.
- According to gfu, the sales of television in 2019 were highest in this region, accounting for 83 million unit sales. This enhances the demand for corrugated carton packaging along with the demand of thermocol moulding, thermocol pipe section, thermocol sheet slabs.
- Further, many e-commerce companies are focusing on sustainable packaging solutions in order to reduce plastic wastes and moving towards paper-based packaging. The trend is also expected to hit the consumer electronics segment, which is sensitive to external impacts with better designing to make packaging more robust.
- The Indian e-commerce companies, such as Amazon, Flipkart, among others, are finding themselves alternatives to single-use plastic, as the Government of India is likely to restrict the use of plastic packaging. Walmart-owned Flipkart, in recent times, said that it has already reduced the use of single-use plastic by 25% and has set a target of using 100% recycled plastic by March 2021.
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