According to the FMI report analysis, the global VCI paper market is projected to reach a valuation of US$ 600.3 million in 2022, exhibiting a slow CAGR of 1.5% until 2032. The sales of VCI paper are anticipated to rise to US$ 696.5 million by 2032.
The North American VCI (Volatile Corrosion Inhibitor) paper market is poised for substantial growth, with the region anticipated to secure the second position in the global market. Currently, North America collectively accounts for 18% of the total market share of VCI paper.
In North America, the automotive industry plays a significant role in driving the adoption of VCI paper for protecting metal parts. Additionally, VCI paper finds application in various sectors such as musical components, aerospace parts, gears, motors, bearings, and more, further expanding the market size of VCI paper in the region.
Meanwhile, Europe is expected to maintain its stronghold as the dominant player in the global VCI paper market throughout the forecast period. Currently, Europe holds a substantial share of 28% in the VCI paper market.
The demand for VCI paper in Europe is on the rise, leading to increased investments in the region. Economic labor and government grants for research and development activities are contributing factors driving market growth for VCI paper. In Europe, the need to protect ferrous components due to their corrosive nature and their application in commercial vehicles and automobiles is expected to propel the market’s growth. The combination of these factors positions Europe as a leader in the VCI paper market.
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Competitive Landscape-
Key Players Setting the Bar too High for New Entrants with their Innovation Capabilties
The key companies are seeking solutions that would make packaging seamless for the end users. Some of the recent developments by the market players are:
Natur-VCI, a biodegradable and compostable vapor corrosion inhibitor film, was introduced in May 2021 by the Northern Technologies International Corp. business unit to protect both ferrous and non-ferrous metals during shipment and short-term storage.
The key players in the VCI paper market are:
- Branopac
- OJI PAPE
- Daubert VCI
- Zerust
- RustxUS
- LPS Industries
- Transilwrap (Metpro)
- Protective Packaging Corporation
- RBL Industries
- Technology Packaging Ltd
- Protopak Engineering Corp
- Green Packaging
Recyclability of VCI Paper to Keep the Profit Margin High for Manufacturers
- Cost-Efficient Production: VCI paper can be manufactured from recycled materials, reducing the cost of raw materials. This cost efficiency allows manufacturers to maintain healthy profit margins while offering competitively priced products to customers.
- Environmental Responsibility: Recycling materials for VCI paper aligns with environmental sustainability goals. Manufacturers can promote their eco-friendly practices and appeal to environmentally conscious consumers, potentially commanding premium prices for their products.
- Reduced Waste Disposal Costs: Recycling VCI paper and using eco-friendly materials minimizes waste and disposal costs. Manufacturers can benefit from reduced waste management expenses, contributing to higher profitability.
- Market Demand: With the growing emphasis on sustainable and recyclable packaging solutions, VCI paper made from recyclable materials can meet the demand of environmentally aware customers. This increases the marketability of VCI paper products and, in turn, profit margins.
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Applications of VCI Paper
VCI Paper finds applications in a wide range of industries, each benefiting from its exceptional corrosion protection. Some common applications include:
- Automotive Industry: Protecting auto parts, engines, and components during manufacturing and shipment.
- Electronics: Preserving sensitive electronic equipment, circuit boards, and components from corrosion.
- Aerospace: Shielding critical aircraft components and spare parts from rust and degradation.
- Machinery and Equipment: Preventing corrosion in machinery, tools, and industrial equipment.
- Military and Defense: Safeguarding weapons, ammunition, and other military assets from corrosion.
- Metalworking and Fabrication: Preserving metal sheets, coils, and finished products during storage and transit.
Key Segments in the VCI Paper Market
By Product:
- VCI Paper
- VCI Films
- VCI Bags
- Foam
- Other
By Material:
- Paper
- Polythene
- Other
By End-User Industry:
- Aerospace & Defence
- Primary Metal
- Electricals & Electronics
- Automotive
- Heavy Equipment
- Metal Works
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