Volatile Corrosion Inhibitors (VCI) Packaging Market Set to Reach US$ 1.4 Billion by 2033 with 6.1% CAGR
The packaging volatile corrosion inhibitors (VCI) market was valued at US$ 778 million in 2020 and is projected to grow at a CAGR of 6.1% from 2022 to 2029, reaching US$ 1.18 billion.
Primary drivers of the rising demand for VCI packaging are rapid industrialization in industries like aerospace, automotive, and processing, as well as the architecture, building, and construction (ABC) sector. The global manufacturing value is estimated to see a GDP rise of nearly 16% in 2020, further contributing to the demand for metals like steel and iron.
In response to environmental concerns and strict plastics laws, the VCI packaging market is expected to shift towards biodegradable or bio-based packaging, aligning with the growing focus on sustainable packaging practices.
The shipping and logistics industry, driven by export activities, also plays a significant role in boosting the demand for durable packaging solutions like VCI packaging, known for its ability to protect against corrosion.
Future Market Insights conducted a comprehensive market study, employing a bottom-up approach, including primary, secondary, and tertiary research, to gather and analyze data for their report titled “Volatile Corrosion Inhibitors (VCI) Packaging Market.”
According to an analyst from Future Market Insights, the global VCI packaging market is expected to witness continued growth in the coming years, considering the corrosion-reducing properties of VCI packaging.
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Competitive Volatile Corrosion Inhibitors (VCI) Packaging Market
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Report Benefits & Key Questions Answered• Volatile Corrosion Inhibitors (VCI) Packaging Historical Market Analysis: The detailed survey by FMI, examines key factors in the Water Resistant Packaging market that affected the growth in the market for the last assessment period 2014–2021 and also studies their consequent impact. It also provide refined the sales projection of the Water Volatile Corrosion Inhibitors (VCI) Packaging market for the forecast period 2022 to 2032• Volatile Corrosion Inhibitors (VCI) Packaging Demand Outlook Analysis: Future Market Insight’s (FMI’s) exhaustive study provides crucial insights into key drivers and upcoming opportunities driving the demand for Volatile Corrosion Inhibitors (VCI) Packaging for the assessment period. As per the study, the demand for Volatile Corrosion Inhibitors (VCI) Packaging will grow at a robust CAGR between 2022 to 2029.• Volatile Corrosion Inhibitors (VCI) Packaging Market Trend Analysis: The latest study by FMI on the Volatile Corrosion Inhibitors (VCI) Packaging market offers compelling insights into key expansion strategies adopted by top-tier players with respect to current trends. It discloses details regarding upcoming trends in the packaging industry to assist market players in constructing an effective strategy to capitalize on them.
Impact of Primary Metal Industry Expansion on Volatile Corrosion Inhibitors Packaging in India
The primary metal industry expansion in India is expected to have a significant impact on the demand for volatile corrosion inhibitors packaging in the country. By 2029, India is projected to hold a substantial 34% share of the South Asian market for such packaging. The growth and penetration of value-added manufacturing industries in India provide lucrative opportunities for volatile corrosion inhibitors packaging manufacturers to increase their revenue.
High Demand for Volatile Corrosion Inhibitors Packaging in Germany
Meanwhile, Germany is expected to demonstrate high demand for volatile corrosion inhibitors packaging due to its prominent position as a major manufacturer in Europe, particularly in automotive parts, heavy equipment, and metals work. The German market accounted for a market value of nearly US$ 246.9 million in volatile corrosion inhibitors packaging by the end of 2029.
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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