Explore VCI Packaging Market that is Expected tom
Explore VCI Packaging Market that is Expected to Grow at a CAGR of Around 6% During 2019 - 2029
VALLEY
COTTAGE, N.Y. , (GLOBE NEWSWIRE) -- As per the recent research study of Future
Market Insights (FMI), the global sales of VCI packaging was valued at ~US$ 600
Mn in 2018. According to the report, the global VCI packaging market is
projected to expand at a CAGR of ~6% during the forecast period. According to
FMI’s report, the rising export of primary metal & products from emerging
economies is offering momentum to the global VCI packaging market. The growing need for efficient & secured
metal packaging solutions is expected to be a primary factor for the growth of
the market. Manufacturers of VCI packaging are grabbing the attention of end
users by offering new designed VCI packaging products, which are highly
suitable for specific applications.
To satisfy consumers’ demand, manufacturers are adopting the
strategy of product development, customer support & expansion. The
packaging industry leaders across the globe are expanding product portfolio
based on VCI packaging. The Mondi Group is also focusing on developing VCI
packaging solutions to take benefits from the growing demand. The increasing
demand for eco-friendly & sustainable VCI packaging is attributed to be beneficial
for the paper packaging industry leaders to enter the market.
VCI
bags are expected to witness an increased in market share owing to large volume
bags offered by manufacturers. The quick adoption of VCI bags by metal parts
and components manufacturers is a vital factor for the rising demand for VCI
bags in the market. Manufacturers are adding new types and formats in the VCI
packaging product portfolio by understanding the end users’ need. The VCI paper
is attributed to be the best alternative in the fulfillment of sustainable and
low-cost packaging products. The VCI paper is expected to expand at a maximum
CAGR while VCI film is projected to witness sluggish growth during 2019-2029.
The VCI packaging product growth in the global market closely depends upon the
rising need for packaging of different metal products and current & future
packaging products available in the market. For instance, VCI film was highly
used for packaging in the past, which is expected to a slowly replaced by VCI
paper & bio-based VCI products in the future.
Investment of Emerging Economies in Manufacturing Sectors
The
VCI packaging market is highly based on industries where metal parts and
components are mostly used. Globally, the VCI packaging market is likely to
grow due to demand from the primary metal & metal works industries. Owing
to the adoption of VCI liquids and powders, the automotive industry is expected
to witness a sluggish growth in the future. The aerospace & components
industries are projected to increase the consumption of VCI packaging during
the forecast period. The emerging countries are boosting the demand for VCI
packaging by investing in the aerospace, metal, and electrical &
electronics industries. Other processing industry are also shifting towards VCI
liquid and powder to protect metal products & components due to new easy
techniques for removal & applicators.
FMI’s
also highlights noteworthy insights into the competitive scenario of the VCI
packaging market along with the key player’s main strategies. Key players in
the VCI packaging market are engaging in product developments and introductions
in new markets. For instance, in June 2019, the leading VCI packaging
manufacturer, Cortec Corporation, launched biodegradable VCI packaging film
(EcoCorr® Film), which provides contact, barrier, and vapor corrosion
inhibition. In May 2019, the company also developed bioplastics and
anticorrosion films plant in Baranja, Croatia.
Press Release Source:https://www.globenewswire.com/news-release/2019/10/09/1927235/0/en/VCI-Packaging-Market-is-projected-to-grow-at-CAGR-of-6-during-2019-to-2029-Future-Market-Insights.html
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About Us
Future
Market Insights (FMI) is a leading market intelligence and consulting firm. We
deliver syndicated research reports, custom research reports and consulting
services which are personalized in nature. FMI delivers a complete packaged
solution, which combines current market intelligence, statistical anecdotes,
technology inputs, valuable growth insights and an aerial view of the
competitive framework and future market trends.
Contact Us
Mr.
Abhishek Budholiya
Future Market Insights
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Valley Cottage, NY 10989,
United States
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