Volatile Corrosion Inhibitors Packaging Market Trends [2031]

Report Description

Volatile Corrosion Inhibitors Packaging Market Outlook 2031

The global volatile corrosion inhibitors packaging market size was USD XX Bn in 2022 and is likely to reach USD XX Bn by 2031, expanding at a CAGR of XX% during 2023–2031. Increasing the usage of corrosion technologies such as waxing, oiling, and coating metal surfaces with relevant inhibitors is driving the market.

Volatile corrosion inhibitors (VCI) packaging is a vital prevention strategy used by the industrial sector. It is applied to prevent corrosion on the metal surface, which increases the lifespan and durability of the metal. The VCI offers an eco-friendly approach to prevent corrosion protection coating and safeguard metal assets during storage and transportation. These factors are boosting the market.

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The growing need for chemical compounds that vaporize and release corrosion-inhibiting molecules is driving the market. The VCI forms a protective layer on the metal surface, preventing it from oxidation and rusting. These are non-toxic chemicals that are incorporated into papers, bags, and others, forming an enclosed environment to safeguard the metal from corrosion. VCI is used in various vertical industries such as automotive, oil & gas, and others, due to their anti-corrosion properties to extend the shelf-life and durability of metal parts in various conditions. for instance,

• In October 2022, Daubert Cromwell launched the Sustainable Series in corrosion inhibitor packaging. It provides a low-carbon footprint, recyclability, and low-toxicity targets.

COVID-19 Analysis

COVID-19 has hampered the global volatile corrosion inhibitors (VCI) packaging market. During the pandemic, government restrictions such as social distancing resulted in halts of the production of industrial components. The distribution of the supply chain has affected the retail, logistical, and manufacturing sectors as the import and export services stopped during that period. In addition, the shortage of metal demand had resulted in a decline in metal prices in the market. Therefore, the COVID-19 outbreak stopped ongoing projects, and manufacturing companies had to bear heavy losses in investments.

Volatile Corrosion Inhibitors (VCI) Packaging Market Dynamics

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Drivers

Increasing focus on the prevention of corrosion is driving the market. The rising awareness of the damaging effects of corrosion on metals leads to the subsequent losses of investments. The manufacturing companies are focusing on using effective prevention solutions to protect it against the oxidation of metals. Additionally, these are mainly used in the production of metal parts and components where they are exposed to the harsh environment of long-term storage conditions. This results in the adoption of a sustainable corrosion inhibitor that boosts the growth of the market. For instance,

• In February 2022, Hexigone introduced Intelli-ion AX1 corrosion inhibition, co-formulated with metal phosphates that are used in protective measures across various industries such as aerospace, industrial, and others meeting strict government standards.

Growing demand for globalization and international trade in the manufacturing industry is boosting the market. The rising adoption of volatile corrosion inhibitors-based packaging has resulted in the transportation of metal goods across long routes with various climatic conditions. The VCI provides an effective solution to protect goods from corrosion during storage and transportation, which fuels the demand for volatile corrosion inhibitor-based packaging.

Restraints

High purchasing costs and maintenance of volatile corrosion inhibitors are hampering the market. These packaging compounds are made of special materials, which makes them expensive as compared to conventional ones, restricting the market.

Lack of standardization and technical advancement is a major concern for the volatile corrosion inhibitors market. Manufacturers are facing difficulties, due to the irregular packaging of the metal goods that results in corrosion of the materials, hindering the market. 

Opportunities

Rising awareness about the economic impact of corrosion is expected to create lucrative opportunities in the market during the forecast period. The need for effective corrosion protection is very crucial, as industries rely on metal assets for various applications. This includes maintenance, cost of repairs, and replacement of corroded infrastructure. In addition, VCI provides a primitive approach that contributes to sustainability efforts and cost savings to enhance productivity.

Growing advancements in VCI technology are a major trend that is anticipated to augment market growth in the coming years. The manufacturers are constantly investing in R&D activities to enhance the effectiveness and performance of the volatile corrosion inhibitors. Additionally, advanced formulation and application methods are being developed to cater to the specific needs of different industries such as long-term protection and rust-preventive application. Thus, the technical advancements are propelling the adoption of VCIs across industries, which is boosting the market during the forecast period. For instances,

• In August 2023, Cortec launched VpCI-126 compostable VCI film corrosion protection that offers rust-preventive packaging solutions. This film is used in automotive preservation and other industries.

Scope of the Volatile Corrosion Inhibitors Packaging Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Volatile Corrosion Inhibitors Packaging Market Segment Insights

Product Type Segment Analysis

On the basis of product type, the global volatile corrosion inhibitors packaging market is divided into papers, films, bags, foams, and others. The film segment is expected to dominate the market during the forecast period. Methods such as painting and galvanization are effective in preventing the product from corrosion and crevices. Many manufacturers are using inhibitor films, which reduce the cost of products and increase the shelf-life of the metal assets. Furthermore, the adoption of volatile corrosion films within industries such as automotive, oil & gas, and others is projected to create a positive outlook for the growth of the segment.

The paper segment is anticipated to witness significant growth during the forecast period. Paper inhibitors are increasingly used in various industries, due to their eco-friendly properties and sustainable packaging development. Manufacturers adopted to use of paper as packaging materials as they are safe for the environment and have recyclable properties.

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Material Type Segment Analysis

Based on material type, the global market is segregated into paper, polythene, and others. The polythene segment is projected to dominate the market during the forecast period. It offers excellent protection against corrosion, as it creates a protective layer around the metal, blocking corrosive elements. The flexibility of VCI polythene allows manufacturers to use VCI in various forms such as sheets, bags, and foam according to the different packaging. Moreover, the VCI polythene is transparent, therefore, it is easy for visual inspection when regular checks of metal parts are needed.

The paper segment is expected to witness significant growth during the forecast period. It is a kraft paper coated with volatile corrosion inhibitors that are widely used for protecting and packaging metals during storage and transportation. The VCI paper provides various features such as effective absorbency properties that act as a barrier, providing direct contact protection to metal surfaces. Additionally, the VCI paper is eco-friendly and compatible with a wide range of metal alloys and types. These factors are projected to fuel the market growth in the upcoming period.

Vertical Industry Segment Analysis

In terms of vertical industry, the global volatile corrosion inhibitors (VCI) packaging market is segmented into mining & metallurgy, oil & gas, automotive, aerospace & military, electronics, and others.  The automotive industry is expected to dominate the market. It is an effective solution used by manufacturers to ensure the reliability and durability of the vehicles and their parts. They are highly preferred, due to their cost-effective and anti-corrosive properties that create a thin layer of VCI molecules that restrict the oxidation of metals.

The aerospace & military segment is expected to witness significant growth during the forecast period. The demand for VCI packaging materials to keep vehicles and weapons safe from corrosion is increasing, as they are used in national security and wars. Any amount of degradation is intolerable, as the best quality of long-lasting materials and equipment is necessary in the segment. Thus, the VCIs are employed to form a protective layer on all the weapons, vehicles, and others resulting in the growth of the market. 

Regional Analysis

In terms of region, the global volatile corrosion inhibitors packaging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the global market during the forecast period. The presence of large manufacturing bases across the region increases international trade, which raises the demand for effective corrosion protection solutions such as VCI packing. Furthermore, the region is driven by emerging economies, rapid industrialization, and supporting government initiatives that encourage advanced packaging technologies that are eco-friendly and cost-effective. These factors are projected to boost the market in the region during the forecast period.

The market in Europe is estimated to witness growth in the coming years. Factors such as increasing industrial growth and growing concerns for the environment are driving the demand for eco-friendly and cost-effective VCI packaging materials in the region. The presence of the automotive industry in Europe directly influences the demand for volatile corrosion inhibitors. Moreover, the ability of VCI packaging to provide long-lasting corrosion protection without surface coating or treatment further increases its adoption within end-user industries in the region. These factors are estimated to fuel the market growth during the forecast period. For instance,

• In January 2021, Daubert Cromwell introduced corrosion solutions that were designed specifically for the Europe metalworking market. The user-friendly product for VCI packaging solutions helps businesses to navigate and solve corrosion challenges.

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