Volatile Corrosion Inhibitors (VCI) Packaging Material Market

Volatile Corrosion Inhibitors (VCI) Packaging Material Market to Amass Notable Gains Over 2022 to 2030

Volatile Corrosion Inhibitors (VCI) Packaging Material Market: Description

Volatile Corrosion Inhibitors (VCI) Packaging Material is utilized in the automotive industry for the protection of vehicles from corrosion. Volatile Corrosion Inhibitors (VCI) Packaging Material is placed inside the vehicles, and it releases vapours which prevent corrosion of metal parts in vehicles.

Volatile Corrosion Inhibitors (VCI) Packaging Materials are available in various forms, such as bags, sheets and rolls. Besides, it can also be found in various sizes to fit the specific needs of the automotive industry. Volatile Corrosion Inhibitors (VCI) Packaging Material is used for the protection of vehicles during storage and transportation.

Segmental assessment of this marketplace

Based on product type, the market is bifurcated into film, liquid, paper, powder, and others. The liquid segment is poised to garner substantial returns over 2022-2030 due to the capability of water-based corrosion inhibitors to modify the characteristics of metals so as to prevent oxidation.

In terms of application, the market sphere is fragmented into water treatment, oil & gas production, and process & product additives.  The water treatment segment is predicted to capture a high revenue share over 2022-2030 owing to the increasing level of water pollution in the country.

On the basis of compound, the market is classified into organic corrosion inhibitors and inorganic corrosion inhibitors.  The organic corrosion inhibitors segment is expected to register notable gains over the estimated timeline attributable to their cost effective, temperature resistant, and compatible nature.

By end user, the industry is split into primary metal, heavy equipment, oil & gas, electrical & electronics, aerospace & defense, metal works, automotive, and others.  The oil & gas segment is showcasing lucrative growth trends ascribing to the significant rise in oil exploration activities in Maxico.

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Expounding the competitive landscape of Volatile corrosion inhibitors (VCI) packaging material market

The prominent players characterizing the competitive ambit of this industry vertical are Solenis LLC, Suez SA, BASF SE, Smurfit Kappa Group PLC., Branopac India Pvt. Ltd., Transcendia, Inc., Crayex Corporation, Cortec Corporation, Haver Plastics Co. Ltd., Patkar Extrusiontech Pvt. Ltd., Daubert Cromwell, LLC, Muller LCS, Inc., AICELLO Corporation, Armor Protective Packaging, Metpro Group, Nefab Group, Zerust Excor, The Dow Chemical Company, Ecolab, Inc., Henkel AG & Co. KGaA, Baker Hughes, and Lonza Group AG.

Notably, in June 2019, Cortec Corp announced the launch of its first eco-friendly VCI packaging film range named EcoCorr® Film.

Growth determinants and restraints of this market sphere

The major factors fueling the progression of this marketplace are prompt industrialization and economic developments in the nation. Besides, population expansion and surging adoption of metals like iron in the aerospace, automotive, and other end use industries are accelerating the demand for VCI packaging materials.

Additionally, rising focus of manufacturers towards the development of eco-friendly VCI packaging materials driven by the stringent regulations pertaining to environmental conservation is augmenting the market outlook.

Moreover, booming transportation and logistics sectors coupled with growing efforts of industries to minimize the deficit incurred by metal corrosion are creating lucrative market expansion opportunities. On the contrary, proliferation of counterfeit products along with the lack of cognizance about the benefits of VCI packaging are obstructing the industry remuneration scope.

Also, the emergence of the COVID-19 pandemic severely affected the sales of VCI packaging materials. Stringent regulations to curb the virus spread caused a massive disruption in the supply chain network of the industry. Further, the imposition of lockdowns brought all the manufacturing activities to a temporary halt. These factors in turn impeded the growth of the overall volatile corrosion inhibitors packaging material market in Mexico.

Rising Industrialization in the developing countries to fuel the market growth:

Surging Industrial development in rising economies such as Mexico, India, China, South Korea, and Brazil is anticipated to boost industrial development and increase the consumption of the Volatile Corrosion Inhibitors (VCI) Packaging Material consumption over the forecast period. Several countries spend a considerable amount of their GDP on constructing and maintaining the infrastructure. In 2020, as per china banking news, china spent around USD 1.07 trillion on infrastructure. The surge in Industrialization in the Mexico region is anticipated to propel the market growth of the Volatile Corrosion Inhibitors (VCI) Packaging Material Market.

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Volatile Corrosion Inhibitors (VCI) Packaging Material Market is anticipated to amplify with a significant CAGR over the forecast period of 2022-2030.

A volatile corrosion inhibitor is referred to as a type of chemical compound used to provide anti-corrosion properties to a wide array of metallic substances. It is added to the surface of a packaging paper which is then used to cover a particular metal. The chemicals present in the inhibitor instantaneously release molecules like amino salts, forming an invisible layer to protect the metal from rusting.

Volatile corrosion inhibitor induced packaging is predominantly used to ensure the protection of metals during their transit and storage. These inhibitors are commonly adopted in metal packaging, automotive packaging, and steel packaging, among others.

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