The global volatile corrosion inhibitors (VCI) packaging market size is expected to be valued at USD 825.4 million in 2023. Technological advancements in VCI formulations, bolsters the overall scope for volatile corrosion inhibitors (VCI) packaging market, which is projected to grow at a CAGR of 6.1% between 2023 and 2033, totaling around USD 1.4 billion by 2033.
| Data Points | Key Statistics |
|---|---|
| Volatile corrosion inhibitors (VCI) packaging Market Value 2023 | USD 825.4 million |
| Volatile corrosion inhibitors (VCI) packaging Market Projected Value (2033) | USD 1.4 billion |
| Volatile corrosion inhibitors (VCI) packaging Market CAGR (2023 to 2033) | 6.1% |
The expansion of the oil and gas industry has significantly contributed to the growth of the volatile corrosion inhibitors (VCI) packaging (VCIs) market. The industry relies on a vast network of metal equipment and infrastructure that are exposed to challenging operating conditions, including high temperatures, humidity, corrosive substances, and saltwater environments. The constant exposure to these harsh elements makes corrosion a significant concern in the oil and gas sector.
VCIs play a crucial role in protecting the metal components used in the oil and gas industry from corrosion. The inhibitors release vapor-phase corrosion inhibitors that create a protective layer on the metal surface, preventing the formation of corrosion and rust. VCIs help maintain the integrity, functionality, and safety of critical equipment and infrastructure, by inhibiting the electrochemical reactions that cause corrosion.
In the oil and gas industry, pipelines, storage tanks, offshore platforms, drilling equipment, and other metal structures are exposed to corrosive elements, such as hydrogen sulfide, carbon dioxide, and saltwater. Corrosion in these components can lead to structural failures, leaks, and environmental hazards, resulting in costly repairs, production interruptions, and safety risks.
The use of VCIs in the oil and gas industry offers several benefits. VCIs provide long-lasting corrosion protection. It is essential to have reliable and durable corrosion protection solutions, as oil and gas operations involve long-term projects with equipment and infrastructure subjected to continuous exposure. VCIs release inhibitors that form a protective layer on metal surfaces, even in harsh and aggressive environments, ensuring prolonged protection against corrosion.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The global demand for volatile corrosion inhibitors (VCI) packaging is projected to increase at a CAGR of 3.0% during the forecast period between 2018 and 2022, reaching a total of USD 1.4 billion in 2033.
According to Future Market Insights, a market research and competitive intelligence provider, the volatile corrosion inhibitors (VCI) packaging market was valued at USD 778.0 million in 2022.
From 2018 to 2022, the global market witnessed steady growth, owing to the advancements in VCI (Volatile Corrosion Inhibitor) technology, which have significantly contributed to the growth of the VCI market. Manufacturers in the industry are continually investing in research and development to improve the formulation, performance, and application methods of VCIs. The advancements have led to the development of more efficient, effective, and specialized VCI products that cater to the specific needs of different industries.
One of the key advancements in VCI technology is the formulation of high-performance VCIs. Manufacturers are constantly refining the composition of VCIs to enhance their corrosion inhibiting properties, which includes the incorporation of corrosion inhibitors that are more effective in preventing the electrochemical reactions that lead to corrosion. High-performance VCIs provide superior protection, even in challenging and aggressive environments where corrosion is most likely to occur.
Advancements in VCI technology have resulted in the development of specialized VCI products that target specific applications and industries. Manufacturers now offer a wide range of VCIs tailored to meet the unique requirements of various sectors such as automotive, electronics, oil and gas, and packaging. The specialized VCIs take into consideration factors such as the type of metal, exposure conditions, and industry regulations to provide optimal corrosion protection.
Manufacturers have introduced innovative application techniques that ensure efficient and effective VCI coverage on metal surfaces, which includes the use of VCI films, papers, emitters, and powders that can be easily applied and integrated into packaging or applied directly to metal components. The application methods help to ensure uniform and long-lasting protection against corrosion.
Increasing Demand from Automotive Industry is Likely to be Beneficial for Market Growth
The automotive industry relies heavily on metal components and parts that are vulnerable to corrosion. Corrosion can lead to structural damage, compromised performance, and decreased lifespan of automotive parts, resulting in costly repairs and replacements. Effective corrosion protection solutions are crucial in the automotive sector to ensure the durability and reliability of vehicles.
Volatile corrosion inhibitors (VCI) packaging (VCIs) have emerged as a preferred choice for corrosion protection in the automotive industry. VCIs work by releasing corrosion-inhibiting molecules into the surrounding atmosphere, creating a protective layer on metal surfaces.
The layer acts as a barrier, preventing moisture and corrosive substances from reaching the metal and causing corrosion. VCIs are effective in various automotive applications, including the protection of engine components, electrical connections, braking systems, and body panels.
One of the key advantages of VCIs in the automotive industry is their long-lasting protection. VCIs provide continuous and uniform protection, even in hard-to-reach areas, unlike traditional corrosion protection methods such as oil coatings.
They are designed to release corrosion inhibitors over an extended period, ensuring that the metal surfaces remain protected during transportation, storage, and assembly processes, which helps to minimize the risk of corrosion-related failures and extends the lifespan of automotive parts.
Rapid Growth in Electronics Industry to Fuel the Market Growth
The rapid growth of the electronics industry has led to an increased demand for effective corrosion protection solutions. Electronics manufacturers and consumers alike recognize the importance of protecting electronic devices and components from corrosion, as it can lead to malfunctions, decreased performance, and even complete failure of the equipment.
Volatile corrosion inhibitors (VCI) packaging (VCIs) have emerged as a preferred choice for corrosion protection in the electronics industry. VCIs provide a convenient and efficient method of protecting sensitive electronic equipment, circuit boards, connectors, and other electronic components.
The use of VCIs helps to prevent corrosion-related issues, such as signal interference, short circuits, and device malfunction, thereby ensuring the reliability and longevity of electronic devices.
The electronics industry encompasses various sectors, including telecommunications, consumer electronics, automotive electronics, industrial automation, and more.
Each of these sectors has witnessed significant growth and technological advancements, resulting in a higher demand for electronic devices and components. The vulnerability to corrosion also rises, as the complexity and miniaturization of electronic devices increase, which has fueled the need for effective corrosion protection solutions, with VCIs being a preferred choice due to their convenience and reliability.
Principal Consultant
VCI Bags to Take the Lion’s Share
Volatile corrosion inhibitors (VCI) packaging bags are widely used in the automotive, electrical & electronics sectors because of their anti-corrosive properties and convenience in packaging due to which it controlled more than 51% of the market share in 2021. Across the globe, demand for heavy metals and automotive parts has increased exponentially which has completely transformed its packaging.
The usage of VCI packaging bags in volatile corrosion inhibitors (VCI) packaging packaging, as a result, is expected to expand by 1.6 times and is expected to lose -20 BPS by the end of 2033. The segment is expected to hold a CAGR of 6.0% during the forecast period.
Primary Metal to Take the Lion’s Share
The primary metal industry will lead the end-user industry segment in global volatile corrosion inhibitors (VCI) packaging packaging holding a market share of about 23.3% in 2021. Primary metal will continue to lead the end-user industry segment of the target market due to the high demand for food packaging machinery because of the anti-corrosive properties of the volatile corrosion inhibitors (VCI) packaging packaging. Metalworks and automotive segments will show a respective incremental opportunity of USD 73.5 million and USD 71.2 million during the forecast period.
In emerging economies, an increase in government expenditure on manufacturing value-added industries has spiked in the last few years, and it is expected that it’ll impact the primary metal end-user industry segment by an expansion rate of 1.6 times its current market value. The segment is expected to hold a CAGR of 5.9% during the forecast period.
Penetration of Manufacturing Value-Added Industries to Propel Marlet Prospects
India will be the largest shareholder with almost 34% of the South Asian volatile corrosion inhibitors (VCI) packaging packaging market by the end of the year 2033. The expansion and penetration of the manufacturing value-added industries will present lucrative opportunities for volatile corrosion inhibitors (VCI) packaging packaging manufacturers to augment their revenue generation in India.
According to analysts at Future Market Insights, India has seen a steady increase in demand for bio-based volatile corrosion inhibitors (VCI) packaging packaging over the last decade. The country is expected to hold a CAGR of 6.0% over the analysis period.
The ever-increasing production from heavy equipment, metal works, and the automotive industry in India, has gradually risen the demand for volatile corrosion inhibitors (VCI) packaging packaging. The need for eco-friendly, biodegradable solutions has increased the growth of the global volatile corrosion inhibitors (VCI) packaging packaging market.
Focus on Eco-Friendly Solutions to Boost the Market Growth
Germany is a major manufacturer in the field of automotive parts, heavy equipment, and metals work in Europe which will subsequently affect the rise in demand for volatile corrosion inhibitors (VCI) packaging packaging in Europe, which accounted for a market value of almost about USD 246.9 Million by end of 2033.
Key manufacturers from Germany are majorly focused on developing an environment-friendly product with anti-corrosive properties. The German volatile corrosion inhibitors (VCI) packaging packaging market will rise by an incremental opportunity of USD 19.3 million during the forecast period. The country is expected to hold a CAGR of 5.9% over the analysis period.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Volatile corrosion inhibitors (VCI) packaging market startup players are adopting various marketing strategies such as new product launches, geographical expansion, merger and acquisitions, partnerships and collaboration to create a larger customer base. For instance,
Key players in the volatile corrosion inhibitors (VCI) packaging market are strongly focusing on profit generation from their existing product portfolios along while exploring potential new applications. The players are emphasizing on increasing their volatile corrosion inhibitors (VCI) packaging production capacities, to cater to the demand from numerous end use industries. Prominent players are also pushing for geographical expansion to decrease the dependency on imported volatile corrosion inhibitors (VCI) packaging.
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD Million for value and Tons for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; East Asia & Pacific; South Asia; and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel. |
| Key Segments Covered | Product, Material, End-user Industry, and Region |
| Key Companies Profiled | Cortec Corporation; Armor Protective Packaging; Branopac India Pvt. Ltd.; Daubert Cromwell, LLC; Haver Plastics Co Ltd.; Muller LCS Inc.; NTIC (Zerust Excor); Mondi Group; Transcendia Inc.; AICELLO CORPORATION; Smurfit Kappa Group PLC; NEFAB GROUP; CGP Coating Innovation; Crayex Corporation; Patkar Extrusiontech (Pvt.) Ltd. |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, DROT analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at USD 825.4 million in 2023.
Mondi Group, Transcendia Inc., AICELLO CORPORATION are the key market players.
By 2033, the market is estimated to be worth USD 1.4 billion.
The market is anticipated to expand at a 6.1% CAGR through 2023.
India’s market is estimated to develop at a CAGR of 6% during the evaluation period.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. VCI Paper 5.2. VCI Film 5.2.1. Stretch 5.2.2. Shrink 5.2.3. Sheet 5.3. VCI Bags 5.3.1. Flat 5.3.2. Gusseted 5.3.3. Zipper 5.4. Foam 5.5. Others 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 6.1. Paper 6.2. Polyethylene 6.3. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-user Industry 7.1. Aerospace & Defense 7.2. Primary Metal 7.3. Electricals & Electronics 7.4. Automotive 7.5. Heavy Equipment 7.6. Metal Works 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Cortec Corporation 18.2. Armor Protective Packaging 18.3. Branopac India Pvt. Ltd. 18.4. Daubert Cromwell, LLC 18.5. Haver Plastics Co Ltd. 18.6. Muller LCS Inc. 18.7. NTIC (Zerust Excor) 18.8. Mondi Group 18.9. Transcendia Inc. 18.10. AICELLO CORPORATION 18.11. Smurfit Kappa Group PLC 18.12. NEFAB GROUP 18.13. CGP Coating Innovation 18.14. Crayex Corporation 18.15. Patkar Extrusiontech (Pvt.) Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Packaging Insights
View Reports
Volatile Corrosion Inhibitors (VCI) Packaging Market
