The global volatile corrosion inhibitor (VCI) shrink films market is estimated to exhibit growth at a healthy CAGR of around 5% to 6% during the forecast period 2022-2032. VCI shrink films, also known as VCI shrink wraps, are clear films composed of transparent and volatile corrosion inhibitor molecules that aid in protecting metal surfaces from external factors such as corrosion.
VCI shrink films are widely used across industries where metal components are involved, such as automotive, aerospace, electronics, and machinery. These films create a protective barrier around the metal parts, preventing the formation of rust, corrosion, and other damages caused by moisture, humidity, and environmental factors. The VCI shrink films market has been witnessing substantial growth due to the increasing demand for corrosion-resistant packaging materials.
These films can be used for ferrous, non-ferrous, and multi-metal protection and are available in a variety of sizes in sheets, rolls, bags, and tubing formats.
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Factors Driving the Growth of the VCI Shrink Films Market
The growth of the VCI shrink films market can be attributed to several key factors:
- Rising Demand for Corrosion Protection: In industries where metal components are exposed to harsh environments, the need for effective corrosion protection has become paramount. VCI shrink films offer a reliable solution to safeguard valuable metal parts, thereby driving their demand.
- Expanding Industrial Sector: With the rapid growth of industrialization worldwide, the demand for VCI shrink films has surged. Industries such as automotive, aerospace, and manufacturing heavily rely on metal components, thereby fueling the demand for VCI shrink films.
- Growing International Trade: The globalization of trade has led to an increase in the transportation of metal products across borders. VCI shrink films ensure that these products reach their destination in optimal condition, free from corrosion and damage.
- Environmental Considerations: VCI shrink films are known for their eco-friendly properties. They are recyclable, non-toxic, and do not pose a threat to the environment. As sustainability becomes a key focus in packaging, VCI shrink films have gained popularity as a greener alternative.
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.
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Challenges Faced by the VCI Shrink Films Market
1. Volatility in Raw Material Prices- The volatility in raw material prices is a major challenge faced by the VCI shrink films market. The prices of raw materials used in VCI shrink films, such as polyethylene, polypropylene, and VCI chemicals, are subject to fluctuations, which affects the profitability of the industry players.
2. Environmental Concerns- The environmental concerns associated with the disposal of VCI shrink films are also a challenge for the industry players. The disposal of these films can lead to environmental pollution, which has led to the development of eco-friendly VCI shrink films.
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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Market Benefits
- The study provides an in-depth analysis of the global VCI Shrink Films Market along with the current trends and future estimations to elucidate the imminent investment pockets.
- The key market players along with their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
- An extensive analysis of the market based on application assists in understanding the trends in the industry.
- The report presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing market opportunities.
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