The global anti-corrosion bags market is anticipated to reach a valuation of US$ 14.7 billion in 2023, driven by industry expansion and diversification. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 7.1% between 2023 and 2033, and reaching a total valuation of approximately US$ 29.3 billion by 2033.
The European anti-corrosion bags market is poised for significant growth due to the presence of well-established industries in the region. Industries such as food and beverages, building and construction, and automotive are thriving, contributing to a robust demand for anti-corrosion bags. The automotive sector in Europe, as per the European Commission, is the world’s largest producer of motor vehicles and employs millions of people, which is expected to drive the market further. Europe is projected to maintain its leading position, with a forecasted CAGR of 7.0% over the analysis period.
In North America, the usage of anti-corrosion bags for transporting medical devices, particularly in the United States, is on the rise. The government in the U.S. is actively promoting the use of advanced packaging materials, creating opportunities for the anti-corrosion bag market. The pharmaceutical industry in the United States is strong, with significant investments in research and development. The region is anticipated to witness a CAGR of 6.9% over the analysis period, driven by the growth in medical device transportation and pharmaceutical development. These trends indicate promising prospects for the anti-corrosion bags market in both Europe and North America.
One of the major factors contributing to the growth of the anti-corrosion bags market is the rise in international trade and cross-border shipments, which has exposed products to varying environmental conditions during transportation. Anti-corrosion bags provide a cost-effective and reliable solution to protect goods from corrosion-related damage, making them essential for export-oriented industries that operate in diverse climatic regions.
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Advancements in materials science, manufacturing processes, and packaging technologies have led to the development of highly effective and innovative anti-corrosion bag formulations. The bags are designed to provide extended protection and compatibility with a wide range of materials, addressing the evolving needs of industries to safeguard their products from corrosion.
Many industries are subject to regulations and quality standards that require corrosion protection during storage, transportation, and use. Anti-corrosion bags help businesses adhere to these standards and ensure that their products meet the required quality and safety specifications.
Key Takeaways from the Market Study
- Global anti-corrosion bags market was valued at US$ 13.8 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 3.4%.
- Europe is expected to hold a dominant CAGR of 7.0% during the forecast period.
- By product type, zipper bags segment is expected to constitute a CAGR of 7.0% in 2033.
- On the basis of end use, electronics & electrical segment is expected to dominate the market with a CAGR of 7.0% in 2033.
- From 2023 to 2033, anti-corrosion bags market is expected to flourish at a CAGR of 7.1%.
- By 2033, the market value of anti-corrosion bags is expected to reach US$ 29.3 billion.
“Demand for sustainable packaging, across the globe, is a major factor that is expected to propel the growth of the anti-corrosion bags market in the near future,” remarks an FMI analyst.
Competitive Landscape
Prominent players in the anti-corrosion bags market are
- Gulmohar Pack-Tech India Pvt. Ltd.,
- Northern Technologies International Corporation (NTIC),
- Smurfit Kappa,
- H L Saw Mill,
- NEFAB Group,
- Acme Packaging,
- Modi Polyfab Pvt Ltd.,
- Pontus Pack Private Limited,
- Metpro Group,
- Suprabha,
- AGM Container Controls, Inc.,
- Benz Packaging,
- Cortec Corporation,
- Daubert Cromwell, Inc.,
- Safepack Industries Ltd.,
- Intertape Polymer Group,
- Sealed Air,
- Rose Plastic AG,
- EMBALEX, S.L.U.
- among others.
Recent Developments:
- In 2022, Gulf Coast Packaging announced the development of a new technology for anti-corrosion bags that improves their durability and puncture resistance.
- In 2021, BOC Group launched its new “CorroSafe” line of anti-corrosion bags made from a proprietary material that is resistant to a wide range of corrosive chemicals.
- In 2021, Ecolab acquired the anti-corrosion bags business of a leading manufacturer in Europe.
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Key Segments Profiled in the Global Anti-corrosion Bags Market
By Product Type:
- Zipper Bags
- Flat Bags
- Gusseted Bags
- Other Customized Bags
By Layer Type:
- Mono-layer
- Multi-layer
By Application:
- Households
- Building and Construction
- Consumer Goods
- Electronics and Electrical
- Automotive
- Pharmaceuticals and Medical Devices
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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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