Volatile Corrosion Inhibitors Packaging Market: Value Chain and Trends by 2029
The volatile corrosion inhibitors packaging market is esteemed at USD 778 Million out of 2022 and is supposed to arrive at USD 1,175 Million by 2029, at a CAGR of 6.1% from 2022 to 2029.
According to the new exploration investigation of Future Market Insights (FMI), the worldwide deals of VCI packaging was esteemed at ~US$ 600 Mn in 2018. As indicated by the report, the worldwide VCI packaging market is projected to extend at a CAGR of ~6% during the gauge time frame. As indicated by FMI’s report, the rising commodity of essential metal and items from arising economies is offering energy to the worldwide VCI packaging market.
The developing requirement for effective and got metal packaging arrangements is supposed to be an essential element for the development of the market. Makers of VCI packaging are getting the notice of end clients by offering new planned VCI packaging items, which are profoundly reasonable for explicit applications.
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“To satisfy consumers’ demand, manufacturers are adopting the strategy of product development, customer support & expansion. The packaging industry leaders across the globe are expanding product portfolio based on VCI packaging. The Mondi Group is also focusing on developing VCI packaging solutions to take benefits from the growing demand. The increasing demand for eco-friendly & sustainable VCI packaging is attributed to be beneficial for the paper packaging industry leaders to enter the market.”
VCI packs are supposed to observe an expanded in market share attributable to enormous volume sacks presented by producers. The fast reception of VCI sacks by metal parts and parts makers is an essential element for the rising interest for VCI packs in the market. Makers are adding new sorts and configurations in the VCI packaging item portfolio by understanding the end clients’ need. The VCI paper is ascribed to be the best option in the satisfaction of economical and minimal expense packaging items.
The VCI paper is supposed to extend at a greatest CAGR while VCI film is projected to observe slow development during 2019-2029. The VCI packaging item development in the worldwide market intently relies on the rising requirement for packaging of various metal items and current and future packaging items accessible in the market. For example, VCI film was exceptionally utilized for packaging before, as would be considered normal to a gradually supplanted by VCI paper and bio-based VCI items later on.
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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FMI’s also highlights noteworthy insights into the competitive scenario of the VCI packaging market along with the key player’s main strategies. Key players in the VCI packaging market are engaging in product developments and introductions in new markets. For instance, in June 2019, the leading VCI packaging manufacturer, Cortec Corporation, launched biodegradable VCI packaging film (EcoCorr® Film), which provides contact, barrier, and vapor corrosion inhibition. In May 2019, the company also developed bioplastics and anticorrosion films plant in Baranja, Croatia.
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.
Volatile Corrosion Inhibitors Packaging Market by Categor
- VCI Paper
- VCI Film
- VCI Bags