The global VCI paper market is likely to be valued at US$ 600.3 million in 2022 and is predicted to secure a sluggish CAGR of 1.5% through 2032. The sales of VCI paper are expected to grow at a value of US$ 696.5 million by 2032.
Corrosion is a common problem faced by industries dealing with metal products. Corrosion causes deterioration and reduces the lifespan of metal products, resulting in financial losses. To prevent corrosion, various methods such as coating, painting, and plating are used. However, these methods can be costly, time-consuming, and may not provide long-term protection.
VCI paper is a cost-effective and reliable solution for corrosion prevention. VCI paper contains volatile corrosion inhibitors that vaporize and form a protective layer on the metal surface, preventing corrosion. VCI paper is widely used in the automotive, aerospace, electrical, and metalworking industries.
The increasing demand for VCI paper from industries such as automotive, aerospace, and metalworking is a key driver of the market’s growth. The growth of these industries, especially in emerging economies such as India, China, and Brazil, is expected to fuel the demand for VCI paper in the coming years.
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Competitive Landscape-
Key Players Setting the Bar too High for New Entrants with their Innovation Capabilties
The key companies are seeking solutions that would make packaging seamless for the end users. Some of the recent developments by the market players are:
Natur-VCI, a biodegradable and compostable vapor corrosion inhibitor film, was introduced in May 2021 by the Northern Technologies International Corp. business unit to protect both ferrous and non-ferrous metals during shipment and short-term storage.
The key players in the VCI paper market are:
- Branopac
- OJI PAPE
- Daubert VCI
- Zerust
- RustxUS
- LPS Industries
- Transilwrap (Metpro)
- Protective Packaging Corporation
- RBL Industries
- Technology Packaging Ltd
- Protopak Engineering Corp
- Green Packaging
Recyclability of VCI Paper to Keep the Profit Margin High for Manufacturers
It is projected that the increase in the export of steel and iron parts and other similar components across the globe is one of the major factors driving the growth of the VCI Paper market. Moreover, the extensive need in the level of shipping and logistical activities of metal products is raising the demand for advanced anti-corrosion products, and the surge is adopting various development strategies by manufacturers to get an edge in the market, which is further accelerating the growth of the VCI paper market.
Furthermore, the factor propelling the VCI paper market is the recyclable characteristic of the paper. Along with having recyclable properties, the VCI papers are environment-friendly in nature and quite economical, that act as a promoting factor for the VCI paper market.
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VCI Paper Market- Market Dynamics
Anti-corrosive nature of VCI paper is the major driver for the VCI paper market which facilitates effective protection during transportation of metals. Another factor fueling the VCI paper market is the property of the paper which increases the life-cycle of products without interfering with their electrical or mechanical surface properties.
VCI paper is environment friendly and quite economic in nature thus acting as another promoting factor for the VCI paper market. Another factor propelling the VCI paper market is the recyclable characteristics of the paper.
VCI paper protects both ferrous and non-ferrous materials including steal, cast iron, aluminum, copper, zinc, nickel and chrome. Another factor aiding in the growth of VCI paper market is the easy and convenience of using VCI paper.
The flexibility of VCI paper aids in wrapping of metallic parts and components easily without any usage of packaging tapes hence making the packaging process economic and more productive. However, the major barrier to the VCI paper market is its compatibility with smaller parts and components. Moreover, the hindrance during visual inspection of machines restrains the growth of VCI paper market.
Key Factors Driving the Growth of the VCI Paper Market
1. Cost-Effective Solution for Corrosion Prevention- VCI paper is a cost-effective solution for corrosion prevention compared to traditional methods such as coating and plating. VCI paper requires no additional processing, and it is easy to use, reducing labor costs. Moreover, VCI paper is a one-time investment that provides long-term protection, reducing maintenance costs.
2. Environmentally Friendly- VCI paper is an environmentally friendly solution for corrosion prevention. VCI paper is made from recyclable materials, reducing waste and promoting sustainable practices. Additionally, VCI paper does not contain harmful chemicals, making it safe to use in various industries.
3. Easy to Use- VCI paper is easy to use and requires no special training or equipment. VCI paper can be easily wrapped around metal products or used as packaging material, providing corrosion protection during storage and shipment.
4. Wide Application Range- VCI paper can be used to protect a wide range of metal products such as tools, machinery, electronic components, and automotive parts. VCI paper is effective in preventing corrosion in harsh environments such as marine, industrial, and tropical conditions.
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Key Segments in the VCI Paper Market
By Product:
- VCI Paper
- VCI Films
- VCI Bags
- Foam
- Other
By Material:
- Paper
- Polythene
- Other
By End-User Industry:
- Aerospace & Defence
- Primary Metal
- Electricals & Electronics
- Automotive
- Heavy Equipment
- Metal Works
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