VOLATILE CORROSION INHIBITORS (VCI) PACKAGING MATERIAL MARKET ANALYSIS

Volatile Corrosion Inhibitors (Vci) Packaging Material MarketSize and Trends

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.

Growing industrial packaging industry is supporting high adoption of VCI packaging materials. According to a Coherent Market Insights’ study, global industrial packaging market is estimated to exhibit a CAGR of 6.1% between 2017 and 2025 to reach US$ 97.2 billion.

Volatile Corrosion Inhibitors (VCI) Packaging Material Market Outlook