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The Global Volatile Corrosion Inhibitor Packaging Market was valued at US$ XX in 2019 and is expected to exhibit a CAGR of 5.7% to reach the market value of US$ 1.12 BN till 2028.
Corrosion processes are accountable for various damages mostly in the manufacturing scope. By taking preventative measures such as coating the raw materials and products manufacturers can limit the corrosion. The corrosion inhibitor is an excellent technique to protect metal products from corrosion and one of the most beneficial products in the industry. Volatile Corrosion Inhibitors are a kind of significant variety in corrosion inhibitors. Volatile corrosion inhibitors packaging is generally in the form of paper, films, and plastic, which is infused with corrosion inhibitors. It can give maximum security of metal parts, assemblies, components, and fittings from corrosion.
Rise in shipping & logistics activities of metal products due to the increase in requirement for various metals for several industries is the major driver for the volatile corrosion inhibitor packaging market.
The increasing demand for packaging material that is utilized to protect metal exteriors from corrosion decays and cracks is propelling the growth of the market. Techniques like galvanization and painting are used to inhibit the product from rust, yet, the application of these coatings surges the production expense of products. Furthermore, the application of paint along with galvanizing requires the use of machines as well as workers and enlarges the expense of the paint to the production expense, which further raises the price of commodities. Consequently, producers find coating products with volatile corrosion inhibitor packaging materials to be more cost-efficient than painting and galvanizing. The growing inclination of manufacturers towards the volatile corrosion inhibitors is anticipated to propel the market growth in the projection period.
In the past few years, the worldwide business of steel, iron, and other metals has been booming, as a result of the growing acceptance in processing, automotive, and aerospace industries. The substantial rise in the demand for metals from various end-user industries has generated a necessity for efficient packaging arrangements to preserve the metal quality and inhibit corrosion. In the manufacturing sector, to tackle the eroding characteristics of ferrous and non-ferrous metal goods the application of volatile corrosion inhibitor packaging is extremely effective. As the cargo of metals is exposed to moisture and temperature conditions suitable for corrosion stimulating agents, it requires the corrosion inhibitor, which further assists to boost the demand for volatile corrosion inhibitor packaging.
Development in the transportation & logistics activities of metal commodities is producing a demand for superior anti-corrosion products. Corporations are opting for a product improvement policy to stand better in the market competition. Customers’ particular demand for metal packaging is ascribed to be the principal factor in product improvement. Moreover, companies are focusing on providing all volatile corrosion inhibitors products rather than giving only one particular product. They are seeking to enhance the product lifetime & persistence in volatile corrosion inhibitors packaging.
However, volatile corrosion inhibitor packaging materials are not useful in protecting all metals from corrosion. This packaging material gets affected by heat and light which hampers their efficiency. This circumstance restricts the growth of the volatile corrosion inhibitors market.
Automotive industry is expected to register a prominent growth rate in the projection period
The automotive subdivision is anticipated to hold a prominent market share in the assessment period. Volatile corrosion inhibitor packaging methods are extensively utilized in the automotive industry to protect metal components like shafts, spark plugs, gears, and others. As a result, there is a rise in the usage of these packaging methods for automotive parts, and this is powering the volatile corrosion inhibitor packaging market.
Asia Pacific region is anticipated to register maximum growth in the projection period
The Asia Pacific is projected to observe the most eminent extension in the volatile corrosion inhibitor packaging material market, as a result of the growing requirement for anti-corrosion packaging from many end-use industries comprising automotive and electronics amongst others. The Asia Pacific region proceeds to provide more excellent opportunities for volatile corrosion inhibitor packaging market corporations attributable to the rise of Japan and China as the world’s leading exporters of steel. Growing exportation of steel has been initiating the necessity for satisfactory transportation and warehouse supplies, which consequently helps to boost the demand for volatile corrosion inhibitor packaging.
North America secured a notable market portion in the global volatile corrosion inhibitor packaging material market in 2019. Furthermore, the United States is the major contributor to the expansion of this market in North America.
Companies functioning in the global volatile corrosion inhibitor packaging market are introducing inventive products and increasing production capabilities to satisfy the increasing requisition for volatile corrosion inhibitors packaging materials.
Key players functioning in the global volatile corrosion inhibitor packaging market are KEYSUNC, Branopac, Green Packaging, Zerust, Oji F-Tex, Transilwrap (Metpro), Protective Packaging Corporation, RustxUS, Technology Packaging, Daubert VCI, CVCI, Armor Protective Packaging, and ORTEC.
Global Volatile Corrosion Inhibitors Packaging Market Segmentation
Global Volatile Corrosion Inhibitors Packaging Market, by Type
- VCI Paper
- VCI Film
- VCI Bag
Global Volatile Corrosion Inhibitors Packaging Market, by Applications
- Metallurgy Industry
- Aerospace Industry
- Automotive Industry
- Oil, Gas and Process Industries
- Electronics Industry
Global Volatile Corrosion Inhibitors Packaging Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa