VOLATILE CORROSION INHIBITORS (VCI) PACKAGING MATERIAL MARKET ANALYSIS

Volatile Corrosion Inhibitors (VCI) Packaging Material Market, by Product Type (Film, Paper, Liquid, Powder, and Others) by End-use Industry (Mining and Metallurgy, Oil and Gas, Automotive, Aerospace, Electronics, and Others) – Size, Share, Outlook, and Opportunity Analysis, 2022-2028

To Be Published : Dec 2024
Code : CMI1925
Formats :
Excel and PDF
Industry : Advanced Materials

Market Challenges And Opportunities

Market Dynamics

According to International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT), published by NACE International, global cost of corrosion was US$ 2.5 trillion, which was equivalent to 3.4% of the global Gross Domestic Product (GDP) with major contribution from the industrial sector in 2013. Thus, significant burden of corrosion globally is driving growth of the global VCI packaging material market.

Volatile corrosion inhibitors packaging material is effectively used for packaging of automotive parts such as gears, axles, and differential units. Furthermore, according to World Trade Organization (WTO), percent share of the global automotive exports in the total merchandized manufactured goods exports was 9% in 2016. This significant demand from the automotive industry is fuelling growth of the global volatile corrosion inhibitors packaging material market.