The VCI (volatile corrosion inhibitors) packaging market is poised to witness a steady compound annual growth rate (CAGR) of 6.1% from 2022 to 2029, reaching an estimated value of USD 778 million in 2022 and USD 1,175 million in 2029, according to a report by Future Market Insights (FMI). The global VCI packaging market was valued at over USD 600 million in 2018, with a projected CAGR of 6% during the forecast period.
The market’s growth is primarily fueled by the increasing prices of essential metals and products, particularly in developing countries. As a result, there is a rising demand for effective and suitable metal packaging solutions, leading to manufacturers focusing on developing new, cost-effective VCI packaging products tailored to specific applications.
To cater to consumer demands, VCI packaging manufacturers are employing strategies such as product development, customer support, and expansion. Industry leaders in the packaging sector, including the Mondi Group, are expanding their product portfolios to capitalize on the growing demand for VCI packaging solutions. Additionally, there are opportunities for leaders in the paper packaging industry to enter the market by offering eco-friendly and sustainable VCI packaging options.
VCI packs, especially large-volume bags, are expected to gain market share due to their availability and adoption by manufacturers of metal components and parts. Manufacturers are also diversifying their VCI packaging product range by introducing new types and combinations based on a better understanding of consumer needs. Among the different VCI packaging materials, VCI paper is anticipated to exhibit the highest CAGR, while VCI film is expected to experience moderate growth between 2019 and 2029.
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The development of VCI packaging products is closely linked to the availability and future supply of packaging materials, as well as the growing demand for packaging various metal products. As a result, VCI paper and other bio-based VCI products are expected to gradually replace VCI film, which has been used sporadically for packaging in the past.
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.
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.
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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
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
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