Introduction
In a world where metals are integral to various industries, corrosion poses a significant threat. Rust not only affects the aesthetics of machinery and equipment but can also compromise their functionality. Enter Volatile Corrosion Inhibitors (VCI) packaging, a cutting-edge solution that shields your assets from corrosion, ensuring they remain in optimal condition. This article will take you on a journey through the VCI Packaging Market, revealing its importance, applications, and the myriad ways it safeguards against corrosion.
Volatile Corrosion Inhibitors (VCI) Packaging Market Overview
VCI packaging is a revolutionary technology designed to combat corrosion effectively. It involves the use of special materials that release volatile corrosion inhibitors, forming an invisible protective shield around metal surfaces. This shield prevents moisture and oxygen from coming into contact with the metal, thus thwarting the corrosion process.
Anticipated to reach a valuation of US$ 825.4 million by 2023, the global volatile corrosion inhibitors (VCI) packaging market is poised for substantial growth. With continuous technological enhancements in VCI formulations, the market’s potential expands even further, showcasing a projected compound annual growth rate (CAGR) of 6.1% from 2023 to 2033. This trajectory is expected to culminate in a cumulative market worth of approximately US$ 1.4 billion by 2033.
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Key Takeaways:
- Europe, with Germany as a prominent player, holds the largest market share in the VCI packaging market, driven by growing demand for VCI inhibitors packaging in the region.
- The Asia-Pacific region is expected to witness the fastest growth rate in the VCI packaging market, with India experiencing 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 GroupView the Complete Report for a Thorough Understanding
Applications of VCI Packaging
VCI packaging finds wide-ranging applications across industries, each benefiting from its corrosion-inhibiting prowess.
Automotive Industry
In the automotive sector, VCI packaging plays a crucial role in safeguarding spare parts, engines, and components during storage and transportation. This not only ensures the longevity of the parts but also reduces maintenance costs and extends the overall lifespan of vehicles.
Electronics and Technology
Sensitive electronic devices and components are susceptible to corrosion. VCI packaging provides a reliable solution to protect these delicate items, ensuring their functionality and reliability even in high-humidity environments.
Aerospace and Defense
In the aerospace and defense sectors, where equipment is exposed to extreme conditions, VCI packaging shines. It prevents corrosion in aircraft parts, weaponry, and communication systems, contributing to the safety and effectiveness of military operations.
Regional Analysis:
Impact of Primary Metal Industry Expansion on Volatile Corrosion Inhibitors Packaging in India
The primary metal industry expansion in India is expected to have a significant impact on the demand for volatile corrosion inhibitors packaging in the country. By 2029, India is projected to hold a substantial 34% share of the South Asian market for such packaging. The growth and penetration of value-added manufacturing industries in India provide lucrative opportunities for volatile corrosion inhibitors packaging manufacturers to increase their revenue.
High Demand for Volatile Corrosion Inhibitors Packaging in Germany
Meanwhile, 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.
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Volatile Corrosion Inhibitors Packaging Market by Category
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 Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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