The global volatile corrosion inhibitors (VCI) packaging market was valued at US$ 778 million in 2020 and is projected to reach US$ 1.18 billion by 2029, with a compound annual growth rate (CAGR) of 6.1% between 2022 and 2029.
The increasing demand for metals, particularly steel, iron, and other metals, is driven by rapid industrialization in sectors such as aerospace, automotive, and processing industries. The architecture, building, and construction (ABC) vertical is also a significant end-user. According to the World Bank, the global manufacturing value witnessed a GDP growth of approximately 16% in 2020.
To address environmental concerns and comply with stringent regulations on plastics, the VCI packaging market is expected to shift towards biodegradable or bio-based volatile corrosion inhibitors packaging. This trend aligns with the increasing focus on sustainable packaging practices.
The growth of the shipping and logistics vertical, driven by export activities, further boosts the demand for durable packaging. VCI packaging, known for its ability to protect against corrosion, becomes a vital solution in this context.
Future Market Insights conducted a comprehensive market study titled “Volatile Corrosion Inhibitors (VCI) Packaging Market” to provide these insights and facts. Their team of analysts and consultants employed a bottom-up approach, conducting primary, secondary, and tertiary research to gather and analyze data.
An analyst from Future Market Insights commented, “Considering the corrosion-reducing properties of VCI packaging, the global VCI packaging market is expected to witness continued growth in the coming years.
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Key Takeaways from Volatile Corrosion Inhibitors (VCI) Packaging Market
- Europe holds the largest market share with Germany ruling the roost. This could be credited to growing demand for VCI inhibitors packaging herein.
- The Asia-Pacific is expected to grow at the quickest rate in the VCI packaging market with India witnessing an increasing penetration of manufacturing industries.
Competitive Volatile Corrosion Inhibitors (VCI) Packaging Market
- Daubert Cromwell Inc., in April 2019, came up with eco-friendly Clear Pal brand VCI films abreast with 5000 for protecting copper, aluminum, and steel.
- Cortec Corp., in June 2019, tabled EcoCorr Film. It comes across as a compostable VCI packaging film providing barrier, contact, and vapor corrosion inhibition (VCI).
- Northern Technologies International Corp., in May 2021, did launch Natur-VCI. It’s a compostable vapor corrosion inhibitor film manufactured with the objective of shielding metals showcasing non-ferrous and ferrous properties during short-term storage and shipments.
- Smurfit Kappa, in May 2022, completed acquisition of Atlas Packaging – one of the independent corrugated packaging provider.
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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Report Benefits & Key Questions Answered
• Volatile Corrosion Inhibitors (VCI) Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the Water Resistant Packaging market that affected the growth in the market for the last assessment period 2014–2021 and also studies their consequent impact. It also provide refined the sales projection of the Water Volatile Corrosion Inhibitors (VCI) Packaging market for the forecast period 2022 to 2032
• Volatile Corrosion Inhibitors (VCI) Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Volatile Corrosion Inhibitors (VCI) Packaging for the assessment period. As per the study, the demand for Volatile Corrosion Inhibitors (VCI) Packaging will grow at a robust CAGR between 2022 to 2029.
• Volatile Corrosion Inhibitors (VCI) Packaging Market Trend Analysis: The latest study by FMI on the Volatile Corrosion Inhibitors (VCI) Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Regional Analysis:
Impact of Primary Metal Industry Expansion on Volatile Corrosion Inhibitors Packaging in India
The expansion of India’s primary metal industry is set to significantly impact the demand for volatile corrosion inhibitors packaging in the country. India is projected to hold a substantial 34% share of the South Asian market for such packaging by 2029. The growth and penetration of value-added manufacturing industries in India create lucrative opportunities for volatile corrosion inhibitors packaging manufacturers to increase their revenue.
Moreover, there has been a consistent rise in demand for bio-based volatile corrosion inhibitors packaging in India over the past decade. This trend aligns with the country’s increasing production in heavy equipment, metal works, and the automotive industry, which drives the need for effective corrosion protection. Additionally, the market growth is further fueled by the growing preference for eco-friendly and biodegradable packaging solutions.
High Demand for Volatile Corrosion Inhibitors Packaging in Germany
Germany is expected to demonstrate high demand for volatile corrosion inhibitors packaging due to its prominent position as a major manufacturer in Europe, particularly in automotive parts, heavy equipment, and metals work. The German market accounted for a market value of nearly US$ 246.9 million in volatile corrosion inhibitors packaging by the end of 2029.
German manufacturers are actively focused on developing environmentally friendly products with anti-corrosive properties, contributing to the rising demand for volatile corrosion inhibitors packaging. Consequently, the German market for such packaging is projected to grow by an incremental opportunity of US$ 19.3 million during the forecast period from 2022 to 2029.
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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
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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