The global VCI films market is anticipated to grow from US$ 255 Mn in 2022 to US$ 430 Mn by 2032, with the overall sales accelerating at 5.4% CAGR throughout the forecast period. Rising application of VCI films across diverse industries including automotive, electronics, and healthcare is a key factor driving growth in the global VCI films market.
VCI (Vapor Corrosion Inhibitor) films stand out as cutting-edge packaging solutions designed to combat corrosion effectively, shielding metal components from rust, corrosion, and contamination. These corrosion-resistant films are typically engineered through the infusion of vapor corrosion inhibitors into linear low-density plastics. They have emerged as the preferred and reliable method for safeguarding a diverse array of metal tools, equipment, and various products against the detrimental effects of corrosion. Consequently, VCI films are gaining significant traction and are experiencing rising adoption across a multitude of industries, including automotive, electronics, healthcare, aerospace, and more.
The continued growth of the VCI (Volatile Corrosion Inhibitor) films market is expected to be driven by the rising adoption of VCI films across diverse industries to combat the corrosion of metal and metal components. This trend is anticipated to persist and contribute to the sustained expansion of the VCI films market throughout the forecast period.
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Key Trends Driving the Global VCI Films Market
Significant Increase in Demand for Metal to Bolster the VCI Films Market Growth
The automotive industry is experiencing remarkable expansion on a global scale, driven by notable factors such as the increasing influence of globalization and the rising disposable incomes of consumers. This growth is compelling automotive manufacturers to leverage advanced resources to craft products that align precisely with the diverse and intricate needs and expectations of their customer base.
Growth in Trade and Export Packaging is Augmenting the Sales of the VCI Films
Simultaneously, the surging production and global export of steel, iron, and various metal equipment are set to fuel a surge in demand for storage logistics facilities. The escalation in production and export of these materials is remarkable, yet it comes with a significant challenge. Annually, an estimated $10 billion in damages is incurred during the transport of steel, iron, parts, and equipment, and this figure is expected to rise in tandem with production increases, underscoring the need for enhanced logistics and transportation solutions.
Market Drivers:
- Corrosion Prevention Demand: The primary driver is the increasing demand for VCI films across industries to protect metal parts and components from corrosion during storage and transportation.
- Metal Manufacturing and Processing: The growth of industries involved in metal manufacturing, processing, and export drives the need for effective corrosion protection solutions, such as VCI films.
- Global Supply Chain Expansion: The expansion of global supply chains and international trade has led to longer shipping durations, making corrosion protection crucial, further boosting the demand for VCI films.
- Regulatory Compliance: Compliance with environmental regulations and the need for eco-friendly corrosion protection solutions have led to the adoption of VCI films as they are non-toxic and recyclable.
- Customization and Versatility: VCI films can be customized to fit various metal shapes and sizes, providing a versatile solution for different industries.
Key Takeaways from global VCI Films Market
- By product type, shrinks films segment holds a market share of almost 60% in the global VCI films market and is expected to grow at a CAGR of 4.9% during the forecast period.
- Based on application, the automotive parts segment in the VCI films market is projected to foresee a remarkable CAGR of 5.7% over the forecast period.
- North America will continue to remain one of the leading markets for VCI films during the assessment period.
- The U.S. VCI films market is anticipated to grow at 5.6% CAGR through 2032.
- Demand for VCI films in India is likely to grow at the highest CAGR of 7.5% between 2022 and 2032.
- The VCI films market in China is expected to accelerate at a CAGR of 3.8% during the forecasted period.
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Key Players
Major competitors in the global VCI films are players like Daubert Cromwell, Transcendia Inc., Armor Protective Packaging, BRANOpac, Zavenir Daubert, Cortec Corporation, Aicello Corporation, NTIC, Branopac, MetPro Group, Nantong Yongyu Anti-Rust, Shenyang VCI, Nokstop Chem, Nefab Group, Crayex Corporation, Intertape Polymer Group, Patkar Extrusiontech (Pvt.) Ltd, James Dawson Enterprises Inc., RBL Industries, Tewes Corporation and others.
These players are adopting strategies such as new product launches, investments in R&D, partnerships, collaborations, and mergers to gain a competitive edge in the market.
Global VCI Films Market by Category
By Product Type:
- Stretch VCI Films
- Shrink VCI Films
By Material:
- Polyethylene (PE)
- Polyethylene Terephthalate (PET)
- Polypropylene (PP)
- Polyvinyl Chloride
- Others
By Application:
- Aerospace & Military Application
- Heavy Plant Machinery
- Electricals & Electronic Components
- Automotive Parts
- Import & Export Packaging
- Other (Agriculture, etc.)
By Region:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
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