The volatile corrosion inhibitor bags market size is estimated to be worth USD 383.8 million in 2024 and is anticipated to reach a value of USD 520.9 million by 2034. Sales are projected to rise at a CAGR of 3.1% over the forecast period between 2024 and 2034. The revenue generated by volatile corrosion inhibitor bags in 2023 was USD 368.1 million.
Volatile corrosion inhibitor zipper bags have specific advantages and practical applications compared to other products in various industries including automotive, electronics, machinery, and aerospace, capturing a market share of 43.8% in 2024.
This rise is amid its convenience and reusability of volatile corrosion inhibitor zipper bags for effective storage and metal components or products and its ability to maintain the volatile corrosion inhibiting atmospheric atmosphere which offers continuous corrosion protection over a longer period compared to other products.
Volatile Corrosion Inhibitor Bags Industry Forecast
| Attributes | Key Insights |
|---|---|
| Historical Size, 2023 | USD 368.1 million |
| Estimated Size, 2024 | USD 383.8 million |
| Projected Size, 2034 | USD 520.9 million |
| Value-based CAGR (2024 to 2034) | 3.1% |
Although it has applications across several end-use industries, the metallurgy industry has showcased the highest market share of 37.6% in the volatile corrosion inhibitor bags market in 2024 than other end users. This rise is because metallurgy is one of the foundational industries related to several manufacturing industries that involve the extraction, processing, and manipulation of metals and alloys.
As these materials form the basis for several sectors like automotive, aerospace, construction, electronics, and machinery, the volatile corrosion inhibits bags are used majorly for protecting iron and steel or metals that contain zinc, magnesium, and copper from corrosion to ensure metal and metal products with high quality and performance to the above-mentioned industries.
Among multiple materials used for making volatile corrosion inhibitor bags, the polyethylene segment is dominating the market with a market share of 71.4% in 2024.
This is due to its unique combination of properties which make them ideal for corrosion protection applications during storage and shipment without the need for additional coatings or treatments and versatility to be made in various forms including zipper bags, gusseted bags, and flat bags catering packaging needs with different shapes and sizes to diverse end-use industries.
The volatile corrosion inhibitor bags market is set to experience profitable growth during the forecast period. It is projected to create an incremental opportunity of USD 152.8 million and is predicted to rise 1.41 times the current value through 2034.
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The below table presents the expected CAGR for the global volatile corrosion inhibitor bags market over several semi-annual periods spanning from 2024 to 2034.
| Particular | Value CAGR |
|---|---|
| H1 | 2.9% (2023 to 2033) |
| H2 | 3.3% (2023 to 2033) |
| H1 | 2.7% (2024 to 2034) |
| H2 | 3.5% (2024 to 2034) |
In the first half (H1) of the year from 2023 to 2033, the business is predicted to surge at a CAGR of 2.9%, followed by a slightly higher growth rate of 3.3% in the second half (H2) of the same year.
Moving into the subsequent period, from H1 2024 to H2 2034, the CAGR is projected to decrease slightly to 2.7% in the first half and remain relatively moderate at 3.5% in the second half. In the first half (H1) the market witnessed a decrease of 20 BPS while in the second half (H2), the market witnessed an increase of 20 BPS.
Burgeoning Global Demand for Metal from Expanding Manufacturing Sectors
Globalization and increased disposable incomes are propelling the growth of the manufacturing sector globally. Burgeoning industrialization has driven the demand for metal. Iron, steel, and other metals have huge demand because of it increase in adoption in the automotive, aerospace, and processing industries.
The manufacturing sector contributed with a valuation of USD 2.89 trillion in 2023 to the USA economy, as reported by The National Association of Manufacturers (NAM). As various metals are the base of major manufacturing industries, there has been a need for protecting these metals during storage and transport from different environmental conditions mainly oxygen and moisture that cause deterioration of the metals leading to loss of their mechanical properties and functionality.
The manufacturing sector involves complex global supply chains where metals are stored, warehoused and transported over different locations where they are exposed to varying environmental conditions.
With the objective of protecting these metals from environmental conditions, volatile corrosion inhibitor bags are used because of the potential of these bags to form a protective layer on metal surfaces that prevents oxidation and other chemical reactions by blocking moisture, oxygen, and other corrosive elements from reaching the metal.
Thus, the growing manufacturing sector globally and the need for protecting the metals from corrosion for extended service life, optimized performance and reduced maintenance costs are driving the volatile inhibitor corrosion bags market.
Escalating Cross-Border Trade and Export Activities Drive Demand
With the rise in export activities from major iron and steel-producing countries such as China, India, Japan, the USA and Russia, there has been a necessity for effective packaging solutions during warehousing, logistics and shipping of these metals all over the world.
As per the data analyzed by the International Trade Center (ITC) the global export of steel & iron was valued at around USD 476 billion in 2023. The most possible reason for the corrosion of these metals is at the time of transport as they are prone to the effect of the surrounding conditions respective to that country or region such as rainfall, moisture humidity, etc.
These cases of corrosion during shipments can be minimized by using volatile corrosion inhibitor bags made from polyethylene, paper and others. Manufacturers engaged in the making of volatile corrosion inhibitor bags are highly focused on the making of such bags considering the trade standards for packaging owing to the regulatory standards and regulations related to the packaging material and products in various countries.
The volatile corrosion inhibitor bags also protect automotive parts & components, electrical & electronic parts, metal containers, and others, which are exported and have threats of corrosion. Increasing exports of steel, iron, and parts & components and the need for adequate shipping & warehousing resources are propelling the demand for volatile corrosion inhibitor bags.
Limited Awareness Regarding Volatile Corrosion Inhibitor Bags among End Users
As these volatile corrosion inhibitor bags and technology have been in use past few years, many end users are not aware of the benefits of extending the lifespan of metal components during storage and transportation.
Also, there has been a misconception among some users about the proper application and usage of these bags due to prevailing corrosion protection methods that have been followed past few decades. These factors may cause hesitation while choosing volatile corrosion inhibitor bags as a corrosion prevention solution and lead to the hampering of the market.
Principal Consultant
The global volatile corrosion inhibitor bags market recorded a CAGR of 2.2% during the historical period between 2019 and 2023. Market growth of volatile corrosion inhibitor bags was positive as it reached a value of USD 368.1 million in 2023 from USD 336.9 million in 2019.
The volatile corrosion inhibitor bags market is experiencing growth due to its increased demand for corrosion-resistant packaging products from diverse manufacturing industries. Aerospace and defense industries often store and transport sensitive metal components that are susceptible to corrosion.
Volatile corrosion inhibitor bags well known for their protective environment that prevents corrosion during storage and shipment are used extensively in these industries. Various military equipment like vehicles, weapons systems, and communication devices are exposed to severe environmental conditions and operational stresses during their life.
Also, metal components related to aircraft such as engine parts, avionics systems, and structural elements are removed from their main assembly for inspection, repairs and replacements. Volatile corrosion inhibitor bags here play very crucial in effectively storing these products without causing any damage from corrosion or any other factors that may degrade the performance and reliability.
These beneficial characteristics encourage volatile corrosion inhibitor bag manufacturers to regularly develop protective packaging products with improved features. The rise in demand for safe packaging options from aerospace, defense and many other industries is expected to create opportunities for the market.
Tier 1 companies comprise market leaders with a market revenue of above USD 8 million capturing significant market share of 20% to 25% in global market. These market leaders are characterized by high production capacity and a wide product portfolio. These market leaders are distinguished by their extensive expertise in manufacturing across multiple packaging formats and a broad geographical reach, underpinned by a robust consumer base.
They provide a wide range of series including recycling and manufacturing utilizing the latest technology and meeting the regulatory standards providing the highest quality. Prominent companies within tier 1 include Cortec Corporation, Northern Technologies International Corporation (NTIC)., Transcendia, AICELLO CORPORATION and NEFAB GROUP.
Tier 2 companies include mid-size players with revenue of USD 3 to 8 million having presence in specific regions and highly influencing the local market. These are characterized by a strong presence overseas and strong market knowledge.
These market players have good technology and ensure regulatory compliance but may not have advanced technology and wide global reach. Prominent companies in tier 2 include Daubert Cromwell, Haver Plastics Co Ltd., Ströbel GmbH, CGP Coating Innovation, Smurfit Kappa Group plc, PATKAR EXTRUSIONS (PVT.) LTD., Zavenir Daubert, Rust-X, International Plastics Inc. and PolyCover Ltd.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche markets having revenue below USD 3 million. These companies are notably oriented towards fulfilling local market demands and are consequently classified within the tier 3 share segment.
They are small-scale players and have limited geographical reach. Tier 3, within this context, is recognized as an unorganized market, denoting a sector characterized by a lack of extensive structure and formalization when compared to organized competitors.
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The section below covers the future forecast for the volatile corrosion inhibitor bags market in terms of countries. Information on key countries in several parts of the globe, including North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe and MEA is provided. USA is anticipated to remain at the forefront in North America, with a CAGR of 1.9% through 2034. In East Asia, China is projected to witness a CAGR of 4.6% by 2034.
| Countries | Value CAGR (2024 to 2034) |
|---|---|
| USA | 1.9% |
| Germany | 1.6% |
| China | 4.6% |
| UK | 1.7% |
| Spain | 2.1% |
| India | 5.5% |
| Canada | 1.3% |
The volatile corrosion inhibitor bags industry in India is projected to grow at a CAGR of 5.5% compared to other countries in the South Asia and Pacific region by 2034.
The manufacturing sector in India has been one of the growing and contributing sectors of the country’s economy in the past few years due to the availability of essential resources like water and energy across all states and the implementation of different programs and policies. According to India Brand Equity Foundation, the manufacturing sector contributes to 17% of the nation’s GDP and export activities generating a valuation of USD 447.46 billion in 2022.
The major manufacturing industries require a variety of metals, alloys and other metal components as their basic raw material. These metals pass through various stages after their production which include storage, warehousing, packaging and transportation.
In order to maintain the high functionality and effective properties of these metals, there is a need for secured packaging solutions that prevent the degradation of these metals due to the attack or effect of certain factors. Volatile corrosion inhibitor bags are thus used on a large scale to prevent the chemical reactions between these metals and surrounding elements like moisture, oxygen and other chemical elements which cause corrosion and in turn, impair the quality of the metals.
China’s volatile corrosion inhibitor bags industry experiences huge opportunities amid the growing electronics industry and the need for protective packaging solutions in the country. The country is anticipated to record a CAGR of 4.6% during the evaluation period.
China is considered the hub for the domestic consumer market for electronic goods, driven by a rising middle class and urbanization. The key electronic manufacturing companies in China showcased a rise of 13.8% per year-on-year growth in 2023, as per the survey from The World Bank. The country has established excellent, manufacturing capabilities because of advanced capabilities and skilled workforce.
With the growth of the electronic industry in China, the demand for volatile corrosion inhibitor bags is also boosting to safeguard electronic components from corrosion.
The electronic manufacturing sector in the country being a part of the global supply chain shows a high preference for these bags as a cost-effective and efficient method to protect sensitive electronic components from corrosion damage throughout the supply chain. The bags possess the ability to be customized in different shapes and sizes for multiple electronic components, leading to an ideal corrosion-resistant packaging solution.
The German automotive industry offers a lot of opportunities for the market. The country is anticipated to grow at a CAGR of 1.6% during the evaluation period.
According to Germany Trade & Invest (GTAI), the automotive industry in Germany recorded 24% of the total domestic industry revenue in 2022. The automotive industry encompasses various metal components related to the engine, chassis, braking components, body panels and many other spare parts.
Not all of these parts are made at a single location some of them are imported or ordered from other specialty producers. As these parts travel distances, from the place of production to the car assembly location, they are prone to different environmental conditions that may affect their compositions.
To avoid such cases volatile corrosion inhibitor bags are used for safe and barrier-resistant packaging to ensure all the products used in the manufacturing of automobiles are of high quality and don’t require unnecessary maintenance costs for the replacement of these products due to their improper functioning.
Due to the need for corrosion barrier packaging needs from the high-tech automotive industry in Germany, the volatile corrosion inhibitors bags market is expected to gain impetus demand over the forecast period.
The section contains information about the leading segments in the industry. In terms of product, zipper segment is estimated to account for a share of 43.2% by 2034. By end use, the metallurgy segment is projected to dominate by holding a share of 37.6% by the end 2034.
| Product | Zipper |
|---|---|
| Value CAGR (2034) | 2.8% |
Among products in the volatile corrosion inhibitors bags market, the zipper segment is expected to lead the market during the forecast period. The zipper segment is anticipated to rise at a CAGR of 2.8% till the end of 2034.
Bags are one of the major flexible packaging solutions that have applications across several industries. Among different products such as flat bags, gusseted bags and zipper bags, the volatile corrosion inhibitor zipper bags are used more often because of their distinctive features.
The zipper bags are preferred because of their secured seal ability and reusability which help to maintain the integrity of the VCI environment inside the bag and ultimately reduce the overall packaging costs compared to single-use alternatives.
This cost efficiency allows businesses to optimize their operational expenses while ensuring effective corrosion protection. Zipper bags can be easily integrated into automated packaging systems, streamlining manufacturing and distribution processes also they compatibility with a wide range of metals and alloys, including ferrous and non-ferrous metals.
Such factors like convenience and versatility to accommodate a wide range of metals with differences in size and shapes for various industries like aerospace, electrical and electronics, etc. the demand for volatile corrosion inhibitor zipper bags is expected to boost in the assessment period.
| End Use | Metallurgy |
|---|---|
| Value CAGR (2034) | 2.4% |
The metallurgy segment among other end users like aerospace and defense, electrical and electronics, automotive, heavy equipment and other industries is estimated to lead the volatile corrosion inhibitor bags market with a CAGR of 2.4% till 2034.
Metallurgical industries deal with a variety of metals and alloys daily and they require secured packaging options at the time of storage and transport of these metals as they are susceptible to corrosion when exposed to environmental conditions.
For this purpose volatile corrosion inhibitor bags are used as they ensure the quality degradation of metals by creating an atmosphere in the bags that prevents the oxidation of metals with moisture, water and any other types of gases in the environment.
The effective corrosion properties associated with volatile corrosion inhibitor bags reduce maintenance costs associated with corrosion-related repairs, replacements, and downtime.
The metallurgical industries have a deep understanding of material properties and the impact of corrosion on metal performance and the customizable ability of volatile corrosion inhibitor bags to accommodate various types of metals, sizes of components, and specific storage requirements within metallurgical processes makes it an ideal choice of packaging for a wide range of metallurgical products.
Due to the need for corrosion resistance packaging solutions in the metallurgical industries and the ideal properties of these bags satisfying their demand, the demand for volatile corrosion inhibitor bags is expected to experience high demand in the assessment period.
Key players of volatile corrosion inhibitor bags industry are developing and launching new products in the market. They are integrating with different firms and extending their geographical presence. Few of them are also collaborating and partnering with local brands and start-up companies for new product development.
Key Developments in Volatile Corrosion Inhibitor Bags Market
In terms of product, the volatile corrosion inhibitor bags market is divided into flat, gusseted and zipper.
Few of the materials in volatile corrosion inhibitor bags polyethylene, paper and others.
Some of end users related to volatile corrosion inhibitor bags market include aerospace and defense, metallurgy, electrical and electronics, automotive, heavy equipment and other industrial.
Key countries of North America, Latin America, East Asia, South Asia and Pacific, Western Europe, Eastern Europe, Middle East and Africa are covered.
The volatile corrosion inhibitor bags industry is projected to witness CAGR of 3.1% between 2024 and 2034.
The global volatile corrosion inhibitor bags industry stood at USD 368.1 million in 2023.
Global volatile corrosion inhibitor bags industry is anticipated to reach USD 520.9 million by 2034 end.
East Asia is set to record a CAGR of 4.4% in assessment period.
The key players operating in the volatile corrosion inhibitor bags industry are Cortec Corporation, Northern Technologies International Corporation (NTIC)., Transcendia, AICELLO CORPORATION and NEFAB GROUP.
1. Executive Summary 2. Industry Introduction 2.1. Market Taxonomy 2.2. Market Definition 3. Market Trends and Success Factors 4. Market Background 4.1. Macro-economic and Industry Outlook 4.2. Market Dynamics 4.3. Value Chain Analysis 4.4. List of Key Market Participants (Manufacturers/Channel Partners) 4.5. Analysis of Key Industry Matrices 4.6. Industry Development Roadmap 5. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034 5.1. Historical Market Volume Analysis 5.2. Future Market Volume Projections 6. Pricing Analysis 7. Global Market Value (USD) Analysis 2019 to 2023 and Forecast 2024 to 2034 7.1. Historical Sales Analysis 7.2. Future Market Size and Growth Projections 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Product 8.1. Flat 8.2. Gusseted 8.3. Zipper 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Material 9.1. Paper 9.2. Polyethylene 9.3. Others 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by End Use 10.1. Aerospace & Defence 10.2. Metallurgy 10.3. Electricals & Electronics 10.4. Automotive 10.5. Heavy Equipment 10.6. Other Industrial 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, by Region 11.1. North America 11.2. Latin America 11.3. Eastern Europe 11.4. Western Europe 11.5. South Asia and Pacific 11.6. East Asia 11.7. Middle East and Africa 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market and Country 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 14. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 15. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 17. South Asia and Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 18. Middle East and Africa Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Market Segments and Country 19. Sales Analysis 2024 & 2034 by Key Market Segments for 30 Countries 20. Competition Outlook including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 21. Company Profile 21.1. Cortec Corporation 21.2. Daubert Cromwell 21.3. Haver Plastics Co Ltd. 21.4. Northern Technologies International Corporation (NTIC) 21.5. Transcendia 21.6. AICELLO CORPORATION 21.7. Smurfit Kappa Group plc 21.8. NEFAB GROUP 21.9. Ströbel GmbH 21.10. CGP Coating Innovation 21.11. PATKAR EXTRUSIONS (PVT.) LTD. 21.12. Zavenir Daubert 21.13. Rust-X 21.14. International Plastics Inc. 21.15. PolyCover Ltd
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Volatile Corrosion Inhibitor Bags Market
