The volatile corrosion inhibitors (VCI) packaging market is projected to grow at a compound annual growth rate (CAGR) of 6.1% from 2022 to 2029, reaching an estimated value of USD 1,175 million by 2029. In 2018, the global VCI packaging market was valued at over USD 600 million, according to a market research study by Future Market Insights (FMI).
The growth of the VCI packaging market can be attributed to several factors. One of the key drivers is the increasing price of essential metals and products, particularly from developing countries. This has led to a rising demand for effective and appropriate metal packaging solutions, which VCI packaging provides.
Manufacturers in the VCI packaging industry are focusing on product development, customer support, and expanding their product portfolios to meet consumer demands. The Mondi Group, along with other packaging industry leaders, is actively developing VCI packaging solutions to tap into the growing market. Additionally, the demand for eco-friendly and sustainable VCI packaging is creating opportunities for paper packaging industry leaders to enter the market.
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VCI packs, especially in the form of large volume bags, are experiencing increased market share due to their adoption by manufacturers of metal components and parts. As manufacturers better understand the needs of consumers, they are expanding the range of VCI packaging products by introducing new types and combinations. VCI paper is considered the preferred option for inexpensive and low-cost packaging materials.
Among the various VCI packaging products, VCI paper is expected to grow at the highest CAGR, while VCI film is projected to experience more modest growth between 2019 and 2029. The development of VCI packaging products is closely tied to the availability of packaging supplies in the market and the increasing demand for packaging solutions for different metal products. Over time, it is anticipated that VCI paper and other bio-based VCI products will replace VCI film, which was previously used only occasionally for packaging.
Overall, the VCI packaging market is expected to witness steady growth, driven by factors such as rising metal prices, increasing demand for effective metal packaging solutions, and the development of new VCI packaging products to meet consumer needs.
Investment of Emerging Economies in Manufacturing Sectors
The VCI packaging market is highly based on industries where metal parts and components are mostly used. Globally, the VCI packaging market is likely to grow due to demand from the primary metal & metal works industries. Owing to the adoption of VCI liquids and powders, the automotive industry is expected to witness a sluggish growth in the future.
The aerospace & components industries are projected to increase the consumption of VCI packaging during the forecast period. The emerging countries are boosting the demand for VCI packaging by investing in the aerospace, metal, and electrical & electronics industries. Other processing industry are also shifting towards VCI liquid and powder to protect metal products & components due to new easy techniques for removal & applicators.
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Competitive Landscape
Companies operating in the volatile corrosion inhibitors packaging market are aiming at expansions and strategic partnerships with other manufacturers to expand their product manufacturing capabilities, product portfolio and global presence.
- In May 2021, Northern Technologies International Corp. business unit launched Natur-VCI a biodegradable and compostable vapor corrosion inhibitor film which is manufactured to shield both types of metals which showcase ferrous and non-ferrous properties during shipment and short-term storage.
- On June 2019, Cortec Corp. launched EcoCorr® Film, which is a biodegradable, compostable VCI packaging film that provides contact, barrier, and vapor corrosion inhibition.
- In April 2019, Daubert Cromwell Inc. introduced environmental-friendly Clear Pak brand VCI films with Clear Pak 5000 to protect steel, aluminum, and copper.
Key Players:
- Cortec Corporation
- Armor Protective Packaging
- Branopac India Pvt. Ltd.
- Daubert Cromwell, LLC
- Haver Plastics Co Ltd.
- Muller LCS Inc.
- NTIC (Zerust Excor)
- Mondi Group
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Volatile Corrosion Inhibitors Packaging Market by Categor
By Product:
- VCI Paper
- VCI Film
- Stretch
- Shrink
- Sheet
- VCI Bags
- Flat
- Gusseted
- Zipper
- Foam
- Others
By Material:
- Paper
- Polyethylene
- Others
By End-user Industry:
- Aerospace & Defense
- Primary Metal
- Electricals & Electronics
- Automotive
- Heavy Equipment
- Metal Works
- Others
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