Volatile corrosion inhibitors packaging material is obtained by impregnation of volatile corrosion inhibitors (VCI) or vapor corrosion inhibitors on packaging materials such as paper and plastic. Volatile corrosion inhibitors mainly consists of amino salts or nitrile compounds. It forms a thin barrier on packaging surface to protect metal surfaces by preventing rust and corrosion.
VCI packaging material is used to protect metals against corrosion during transportation and storage. It is commonly used in steel packaging, automotive packaging, metal packaging and others.
According to International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT), published by NACE International, global cost of corrosion was US$ 2.5 trillion, which was equivalent to 3.4% of the global Gross Domestic Product (GDP) with major contribution from the industrial sector in 2013. Thus, significant burden of corrosion globally is driving growth of the global VCI packaging material market.
Volatile corrosion inhibitors packaging material is effectively used for packaging of automotive parts such as gears, axles, and differential units. Furthermore, according to World Trade Organization (WTO), percent share of the global automotive exports in the total merchandized manufactured goods exports was 9% in 2016. This significant demand from the automotive industry is fuelling growth of the global volatile corrosion inhibitors packaging material market.
Growing industrial packaging industry is supporting high adoption of VCI packaging materials. According to a Coherent Market Insights’ study, global industrial packaging market is estimated to exhibit a CAGR of 6.1% between 2017 and 2025 to reach US$ 97.2 billion.
Volatile Corrosion Inhibitors (VCI) Packaging Material Market Outlook
Global volatile corrosion inhibitors (VCI) packaging material market is segmented into:
By Product Type
By End-use Industry
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