Volatile Corrosion Inhibitors (Vci) Packaging Material Market is Estimated to Witness High Growth Owing to Increasing Demand from Automotive Industry

Market Overview:

Volatile Corrosion Inhibitors (Vci) Packaging Material are used to protect ferrous and non-ferrous metals from corrosion during storage and transportation. They are widely used in automotive, aerospace and defense industries to protect valuable metal components and parts.

Market Dynamics:

The growth of the global automotive industry is the major factor driving the demand for Vci packaging material. According to International Organization of Motor Vehicle Manufacturers, around 93 million vehicles were produced globally in 2018. In addition, increasing defense budgets of emerging countries is also propelling the growth of aerospace and defense industries, which in turn is supporting the Vci packaging material market growth. Rising international trade is increasing transportation of industrial goods, causing high demand for effective corrosion inhibiting packaging solutions. Stringent regulations regarding use of environmental friendly chemical compounds are prompting manufacturers to develop bio-based and recycled Vci packaging materials.

Market Driver: Increased Demand For Corrosion Protection From Various End-Use Industries

The volatile corrosion inhibitors (VCI) packaging material market is being driven by rising demand from various end-use industries such as automotive, machinery & equipment manufacturing, electrical & electronics, and defense & military equipment among others. The need for corrosion protection has grown significantly in these industries to prevent corrosion damage during manufacturing, transportation, and storage. VCIs provide effective and cost-efficient corrosion protection to metal parts and components. They emit corrosion inhibiting chemicals in the vapor phase inside an enclosed package that condense and adhere to metal surfaces forming a protective molecular layer. This helps protect metals from corrosion for extended periods without requiring dismantling of packaging. The growth of end-use industries globally is fueling the need for reliable and advanced corrosion inhibiting solutions like VCI packaging materials.

Get a Sample Copy of the Report : https://www.coherentmarketinsights.com/insight/request-sample/1925

Key Players Covered In This Report:

Cortec Corporation, Branopac GmbH, Armor Protective Packaging, Protective Packaging Corporation, Nefab Group, Daubert Industries, Inc., Zerust Excor, and Metpro Group.

Market Segmantation:

By Product Type

Film
Paper
Liquid
Powder
Others (Foams, Nettings, Chipboards etc.)

By End-use Industry

Mining and Metallurgy
Oil and Gas
Automotive
Aerospace
Electronics
Others (Defense etc.)

Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Buy this Report: https://www.coherentmarketinsights.com/insight/buy-now/1925

Market Driver: Stringent Regulations Regarding Use Of Environmentally-Friendly Packaging

Stringent government regulations around the world regarding use of environmentally-sustainable and recyclable packaging materials are another key factor propelling demand in the VCI packaging material market. Traditional corrosion preventive packaging often uses petroleum-based coatings and substances that are not biodegradable and cause pollution. However, VCI films, papers, and laminates are manufactured using bio-based and non-toxic corrosion inhibitors that have minimal environmental impact. They are increasingly being preferred as a greener alternative to conventional corrosion preventive packaging. Manufacturers are also developing innovative bio-based and recycledcontent VCI packaging in response to stringent regulations. The growing environmental awareness and emphasis on sustainability are driving increased adoption of eco-friendly VCI packaging globally.

Market Restrain: High Cost Of Vci Packaging Compared To Traditional Methods

One major factor constraining the global VCI packaging material market is the relatively higher cost of VCI packaging compared to traditional methods of corrosion prevention like coatings and rust preventive oils. While VCI packaging offers improved efficacy, convenience and eco-friendliness, its production involves additional process steps and corrosion inhibiting chemicals that increase overall cost. The price differential discourages its usage in some cost-sensitive application areas. Furthermore, established usages of conventional corrosion preventives also make customers hesitant to switch to the new VCI technology unless a strong value proposition is provided. Manufacturers thus face challenges regarding pricing pressures and changing customer mindsets to gain widespread market acceptance, which currently limits the growth potential of the VCI packaging material market to some extent.

Market Opportunity: Growing Usage In Healthcare And Pharmaceutical Industries

The volatile corrosion inhibitors (VCI) packaging material market has strong opportunities for growth in the healthcare and pharmaceutical industries. Corrosion protection plays an important role in these sectors to ensure sterile conditions and avoid contamination during transportation and storage of medical devices, implants, and drugs. VCI packaging effectively inhibits corrosion of packages' metallic components like screws and latches. They also provide a moisture barrier and help maintain a controlled environment inside packages. This prevents degradation of packaged products and helps adhere to stringent quality and safety regulations. With growing healthcare spending and infrastructure development in emerging economies, demand for medical devices and drugs is rising rapidly. This presents an opportunity for VCI packaging materials to gain widespread usage in healthcare logistics and gain a new customer segment. Manufacturers can focus on developing novel VCI films and papers customized for healthcare applications.

Market Trend: Innovation In Bio-Based And Self-Healing Vci Formulations

A key trend gaining momentum in the volatile corrosion inhibitors (VCI) packaging material market is the growing innovation in development of bio-based and self-healing VCI formulations. Traditionally, VCI formulations used chemically synthesized corrosion inhibitors. However, manufacturers are increasingly investing in R&D to design renewable and sustainable VCIs derived from plant and other bio-resources. This helps address environmental and regulatory pressures. Additionally, advanced 'self-healing' VCI formulations that can repair minor damages in the packaging barrier over time without compromising corrosion protection are also being researched. Such innovations will make VCI packaging more effective, durable and environment-friendly. New bio-based and self-healing VCI formulations thus present an important product differentiation opportunity for manufacturers. They also align well with the sustainable development priorities of end-users. The trend signifies the dynamic nature of VCI technology development and points towards a prosperous future scope.

Request For Customization at: https://www.coherentmarketinsights.com/insight/request-customization/1925

Key Benefits For Stakeholders

The report provides an in-depth analysis of the global bromine derivatives market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the bromine derivatives industry for strategy building.
A comprehensive global bromine derivatives market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
The report answers a number of crucial questions, including:

➥ Which companies dominate the global Volatile Corrosion Inhibitors (Vci) Packaging Material market ?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
✉ Email: sales@coherentmarketinsights.com
📞United States of America: +1-206-701-6702
📞United Kingdom: +44-020-8133-4027
📞Japan: +050-5539-1737
📞India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.