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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.

Market Dynamics

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

  • Asia Pacific is expected to witness highest growth in the global VCI packaging material market, owing rising demand for anti-corrosion packaging from various end-use industries including electronics and automotive among others.
  • According to SEMI, an industry association of providers of materials, equipment and services for manufacturing of semiconductors, LED, photovoltaic panels and others, integrated circuit packaging and testing market in China generated revenue of US$ 29 million in 2017 thereby making China largest consumer of packaging equipment and materials in 2017. This growing demand for packaging of electronic components is propelling growth of the VCI packaging materials market in the country.
  • According to Coherent Market Insights study, Asia Pacific held highest market share in 2016.
  • North America held a significant market share in the global VCI packaging material market in 2016. Furthermore, the U.S. is the major contributor to growth of this market in North America.
  • According to NACE International, an organization of the corrosion control industry, the cost of corrosion to the U.S. economy in 2016 was over US$ 1.1 trillion in 2016 and contributed over 6.2% to the U.S. economy in 2016. This, in turn is increasing demand for various anti-corrosive agents including VCI packaging materials in this region.
  • Furthermore, in 2017, the U.S. exported automotive parts globally valued at US$ 85.6 billion, according to the International Trade Administration, Department of Commerce, the U.S. thereby, increasing demand for automotive packaging materials including volatile corrosion inhibitors packaging materials. This is expected to aid in significant growth of the market in the region over the forecast period.

Key Players

  • Key players operating in the global volatile corrosion inhibitors packaging material market include Cortec Corporation, Branopac GmbH, Armor Protective Packaging, Protective Packaging Corporation, Nefab Group, Daubert Industries, Inc., Zerust Excor, and Metpro Group.

Key Developments

  • Manufacturers operating in the global VCI packaging materials are launching innovative products and expanding manufacturing capacities to cater to growing demand for volatile corrosion inhibitors packaging materials. For instance, in August 2015, ALFA Solution launched ProGARDO range of VCI products including bags and shrink wrap film for wrapping components and machinery.
  • In November 2015, EcoCortec, a subsidiary of Cortec Corporation, launched Corpak Static Dissipative bubble film with volatile corrosion inhibitors. In addition to this, in November 2017, EcoCortec announced construction of new production facility in Beli Manastir, Croatia, for vapor corrosion inhibitor films and bags for packaging.
  • In February 2017, Daubert Cromwell, manufacturer of corrosion inhibitors and protective packaging, opened a new plant in Brazil, Daubert Brasil. This new plant will manufacture the company’s globally tested volatile corrosion inhibitors poly and paper packaging brands, devices and rust preventive liquids.

Market Taxonomy

Global volatile corrosion inhibitors (VCI) packaging material market is segmented into:

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.)

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Italy
    • France
    • Russia
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Middle East
    • GCC
    • Israel
    • Rest of Middle East
  • Africa
    • Northern Africa
    • Central Africa
    • South Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users