During the forecast period of 2022–2032, the market for volatile corrosion inhibitor (VCI) shrink films is anticipated to grow at a healthy CAGR of 5%–6%. The need for VCI shrink films is predicted to increase due to the rapid use of protective films for wrapping valuable metal products, equipment, machinery, and other items across a variety of industries.
VCI shrink films, sometimes referred to as VCI shrink wraps, are transparent films with volatile, clear corrosion inhibitor molecules that help shield metal surfaces from outside influences like corrosion. These films come in a variety of sizes and are offered in sheets, rolls, bags, and tubing formats. They can be used to cover ferrous, non-ferrous, and multi-metal materials.
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Which Key Factors Are Driving the Global VCI Shrink Films Market?
VCI shrink films are made to prevent corrosion during production, storage, and transportation for metallic parts made of several metals, including iron & steel, copper, brass, tin, zinc & zinc galvanised, bronze, and nickel. These films’ advantageous qualities, such as their exceptional clarity, UV stability, cross-lamination, and cling capabilities, negate the need for additional cleaning and degreasing of the metal parts they cover.
Due to this, VCI shrink films are being used extensively in the logistical and transportation fields to store and move metal items. They are often utilised in case liners and coverings, lock-tip bags, single wound sheeting, elasticized bags, tubing, flat materials, centrefold sheeting
How is Western Europe Contributing to the Growth of the VCI Shrink Films Market?
Future Market Insights states that Western Europe is anticipated to account for a significant share in the global VCI shrink films market from 2022 to 2032.
A swift rise in import and export of automobiles and automotive goods are being witnessed across the countries such as Germany, the U.K., France, and others, creating strong demand for metal wrapping films.
According to a report by the Observatory of Economic Complexity, nearly US$ 123 Bn worth of automotive vehicles, including passenger cars and commercial vehicles, and US$ 54.6 Bn valued automobile parts were exported by Germany in the year 2020. As VCI shrink films are extensively being used for wrapping automotive vehicles and automobile parts for protecting them from corrosion and other external factors, such rise in exports is projected to bolster the demand in the Western Europe market.
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Market Competition
Some of the leading players in the VCI shrink films market are
- Superior Industries, Inc.,
- MAGNA INTERNATIONAL PTE LTD.,
- Cortec Corporation,
- Aicello Corporation,
- Daubert Cromwell, Inc.,
- MetPro Group,
- Harita-NTI Ltd.,
- BRANOpac GmbH,
- Propagroup, and others.
Prominent players in the global VCI shrink films market are aiming at launching sustainable products and capacity expansion to gain edge in the highly competitive market.
Key Segments Profiled in the VCI Shrink Films Market Survey
By Film Thickness:
- Below 25 micron
- 25 to 100 microns
- 100 to 200 microns
- Above 200 microns
By End Use Industry:
- Mining and Metallurgy
- Electronic & Electrical
- Automotive
- Transport & Logistic
- Aerospace
- Agriculture
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Middle East and Africa
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