Global VCI Packaging Market: Overview
VCI packaging market is expected to witness robust growth in the near future, thanks to rising e-commerce, shipping, and sales of consumer electronics. VCI packaging is an abbreviation of Volatile Corrosion Inhibitor. It includes various packaging options like plastics, and paper material which provide extreme corrosion resistance with the help of inhibitors. These are widespread in demand as these make for ideal materials for transport and storage. Additional testing and research in VCI packaging is resulting in new methods for ensuring safety of transports. Advancement testing methods include accelerated climate test, razor blade test, and VIA test. With these testing apparatus, and effective application of the product, the VCI packaging market continues to provide tremendous growth opportunities. However, there is also a growing need in the market to standardize testing method to ensure more reliability and safety for end-products.
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Global VCI Packaging Market: Notable Developments
The global VCI packaging market is witnessing new application in coatings of metal work. Corrosion of metals is a widespread issue for the manufacturing as well as several other sectors. Additionally, during transport, and other temporary arrangements, metal corrosion can result in significant damages. The VCI packaging provides the ability to vaporize, and condense on the surface. This makes ferrous and non-ferrous materials less susceptible to corrosion. Additionally, it provides a confined space for metals to go to work during operations. Moreover, the packaging also provides a layer of monomolecular surface which prevent electrochemical reactions.
India’s largest carmaker Maruti Suzuki has announced that it will follow EU guidelines to reduce its carbon footprint through the use of extensive VCI packaging materials. The new measures will see conform to the packaging, labelling and classification needs for chemical substances. The company in recent years has accounted for more than 50% share in domestic passenger vehicle segment. Maruti Suzuki has also announced that it will use international material data capturing systems to weed out prohibitive substances in packaging. The rising benchmark for industries such as EU norms, growing concerns about carbon emissions, and rising effectiveness of VCI packaging for transporting vehicles, especially during rainy seasons are expected to drive tremendous growth.
Global VCI Packaging Market: Drivers and Restraints
Rising demand for automobiles, and increasing regulations, and rising applications like metal coatings are expected to remain major drivers in the VCI packaging market. Additionally, the rise of e-commerce is expected to create several opportunities for growth in the VCI packaging market. The VCI packaging market products also provide robust application for rising sectors like heavy-industries, aerospace, and defense. The rising demand from these sectors and growing trends such as rising use of biodegradable materials in the packaging industry are expected to drive growth.
Global VCI Packaging Market: Geographical Analysis
The global VCI packaging market is expected to register significant growth in North America region. The market is likely to ride as high in the region, thanks to expansion of e-commerce, automation, and growing demand in the packaging industry. Apart from e-commerce giants like Amazon, other major companies like Walgreens have also started delivery services for consumers. The need for safety, and reliability in pharmaceutical products will result in more growth for the VCI packaging market. Moreover, the global VCI packaging market is also expected to register significant growth in Asia Pacific. The rising manufacturing and packaging activity in the region, bans on single-use plastics, and changing processes among major automakers are expected to drive significant growth in the region.
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The following regional segments are covered comprehensively:
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