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Global Volatile Corrosion Inhibitor Packaging Market it is anticipated to reach at market value of US$ 1.02 BN by 2027
Bizizz Market Research has recently published a research report, “Volatile Corrosion Inhibitor Packaging Market By Type (VCI Paper, VCI Film, VCI Bag, Others), by Application (Metallurgy Industry, Aerospace Industry, Automotive Industry, Oil, Gas and Process Industries, Electronics Industry) and Region-Global Industry Trends, Estimation & Forecast, 2019 - 2027”.
As per the report, Global Volatile Corrosion Inhibitor Packaging Market was valued at US$ XX BN in 2018 and it is anticipated to reach at market value of US$ 1.02 BN by 2027, witnessing a CAGR of 6.1 % during the forecast period. Rise in shipping & logistics activities of metal products due to the increase in requirement for various metals from several industries is the key driver for the volatile corrosion inhibitor packaging market. However, volatile corrosion inhibitor packaging materials are not useful in protecting all metals from corrosion. These packaging materials gets affected by heat and light which hampers their efficiency. These circumstances restrict the growth of the volatile corrosion inhibitors market.
The increasing demand for packaging material that is utilized to protect metal exteriors from corrosion decays and cracks is propelling the growth of the market. Techniques like galvanization and painting are used to inhibit the product from rust, yet, the application of these coatings surges the production expense of products. Furthermore, the application of paint along with galvanizing requires the use of machines as well as workers and enlarges the expense of the paint to the production expense, which further raises the price of commodities. Consequently, producers find coating products with volatile corrosion inhibitor packaging materials to be more cost-efficient than painting and galvanizing. The growing inclination of manufacturers towards the volatile corrosion inhibitors is anticipated to propel the market growth in the projection period.
The Volatile Corrosion Inhibitor Packaging Market Is Anticipated To Register A CAGR Of Over 6.1% During The Forecast Period.
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By Applications, Automotive industry Based Volatile Corrosion Inhibitor Packaging Market Segment Held A Prominent Share In Global Volatile Corrosion Inhibitor Packaging Market In 2018.
The automotive subdivision is anticipated to hold a prominent market share in the assessment period. Volatile corrosion inhibitor packaging methods are extensively used in the automotive industry to protect metal components like shafts, spark plugs, gears, and others. As a result, there is a rise in the usage of these packaging methods for automotive parts, and this is expected to favor the segment growth.
Asia Pacific region Is Anticipated To Dominate The Global Volatile Corrosion Inhibitor Packaging Market During The Forecast Period.
Asia Pacific is projected to observe the most eminent extension in the volatile corrosion inhibitor packaging material market, as a result of the growing requirement for anti-corrosion packaging from many end-use industries comprising automotive and electronics amongst others. The Asia Pacific region proceeds to provide more excellent opportunities for volatile corrosion inhibitor packaging market corporations attributable to the rise of Japan and China as the world’s leading exporters of steel. Growing exportation of steel have been initiating the necessity for satisfactory transportation and warehouse supplies, which consequently helps to boost the demand for volatile corrosion inhibitor packaging.
Prominent players operating in the Global Volatile Corrosion Inhibitor Packaging Market are: KEYSUNC, Branopac, Green Packaging, Zerust, Oji F-Tex, Transilwrap (Metpro), Protective Packaging Corporation, RustxUS, Technology Packaging, Daubert VCI, CVCI, Armor Protective Packaging, and ORTEC among others.
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