The VCI (volatile corrosion inhibitors) packaging market is projected to experience a 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 Future Market Insights (FMI), the global VCI packaging market was valued at over USD 600 million in 2018. FMI's analysis predicts a CAGR of 6% for the global market during the forecast period, primarily driven by increasing prices of essential metals and products in developing countries.
The market's growth is fueled by the rising demand for effective and suitable metal packaging solutions. VCI packaging manufacturers are concentrating on developing new, cost-effective products tailored to specific applications, thereby attracting consumer attention.
To meet consumer demands, manufacturers are employing strategies such as product development, customer support, and expansion. Packaging industry leaders worldwide are expanding their product portfolios in VCI packaging, with companies like the Mondi Group focusing on the development of VCI packaging solutions to capitalize on the growing demand. The increasing demand for eco-friendly and sustainable VCI packaging also presents opportunities for leaders in the paper packaging industry to enter the market.
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VCI packs are expected to gain market share due to the availability of large-volume bags offered by businesses. The rapid adoption of VCI bags by manufacturers of metal components and parts is a significant driver for the increasing demand for VCI packs. Manufacturers are diversifying the range of VCI packaging products by introducing new types and combinations as they gain a better understanding of consumer needs. VCI paper is considered the most cost-effective option for packaging materials.
VCI paper is anticipated to exhibit the highest CAGR, while VCI film is expected to experience moderate growth between 2019 and 2029. The development of VCI packaging products in the global market is closely linked to the availability and future supply of packaging materials, as well as the growing demand for packaging various metal products. Consequently, it is expected that VCI paper and other bio-based VCI products will eventually replace VCI film, which has been sporadically used 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.
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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.
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
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
