Global VCI Film Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global VCI Film Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Vapor corrosion inhibitors (VCIs) are substances that slowly release a corrosion preventative compound into sealed air space, effectively protecting exposed metal surfaces. VCIs are often used in situations where it is impractical or undesired to use rust preventative liquids or other surface treatments. The compounds that VCIs release into airspace actively prevent corrosion by forming strong bonds with a metal surface, promoting and maintaining the natural and healthy passive oxide layer on the metal. The VCI layer that forms are invisible, dry, and do not affect the physical properties or functionality of the metal in any way. The protected metal can be painted, treated and/or used straight out of the package without further cleaning.

Market Overview:

The latest research study on the global VCI Film market finds that the global VCI Film market reached a value of USD 89931.7 million in 2022. It’s expected that the market will achieve USD 115448.9 million by 2028, exhibiting a CAGR of 4.25% during the forecast period.

Influence of COVID-19 Outbreak on VCI Film Industry Development

The outbreak of COVID-19 is affecting almost every region in the world. Each region has been affected by a significant growth and demotion. East Asia and the Pacific will grow by only 0.5%. South Asia will contract by 2.7%, Sub-Saharan Africa will contract by 2.8%, the Middle East and North Africa will contract by 4.2%, Europe and Central Asia will contract by 4.7%, and Latin America will contract by 7.2%. These downturns are expected to reverse years of progress towards achieving development goals and plunge thousands of people into extreme poverty. Emerging markets and developing economies will be hit by economic resistance from multiple quarters: a weak medical system, losses in trade and tourism, reduced remittances, insufficient capital flows, and increasing debt pressures that have led to tight financial conditions. Developed economies are expected to reduce 7%. This crisis has exceeded the speed of the global economy, and a global recession has become inevitable.
Due to the pandemic of COVID-19, the global economy is expected to lose nearly US$8.5 trillion in output value in the next two years, which will erase almost all the gains of the previous four years. The sharp economic contraction marked the worst contraction since the Great Depression in the 1930s, while the economic downturn at the beginning of the year was only 2.1%. And the outbreak of COVID-19 will aggravate the phenomenon of poverty and inequality. By 2030, 130 million people may join the ranks of the extremely poor, which has hit the global efforts to eliminate extreme poverty and hunger. This epidemic has greatly damaged low-skilled and low-paying jobs, while at the same time making high-skilled jobs less affected, which will further increase income inequality within and between countries.

Market Constraints and Challenges

With major manufacturers and suppliers in the VCI film industry competing at globally, the intensity of competition within the VCI film industry has increased. The vendors adopt strategies like price premiums to stay competitive in the market. Meanwhile, the local vendors in developing nations are providing tough competition to the global players based on product pricing. The fierce competition is not conducive to the sustainable development of the industry. At the same time, small companies or small retailers enter the business consequently as venturing into a VCI film business does not require immense capital or investment. However, this leads to the proliferation of sub-standard or duplicate products which then hampers the competitive scenario in the market as established VCI film manufacturers are compelled to lower the price of their products, which ultimately impacts their profit margins and sales volumes. The fierce competition is not conducive to the sustainable development of the industry
A review on TOXNET, a database maintained by the National Institutes of Health on chemical safety, shows nearly all VCI and solvent chemicals to be hazardous by OSHA definition. OSHA Standard 1910.1200(c) defines hazards to include irritants, sensitizers, and flammables.

Beyond the chemicals themselves, some VCIs and many solvents used in these products emit volatile organic compounds (VOCs). VOCs are determined by some governments to be toxic smog components. Efforts are underway in many countries to significantly reduce them. Even the preservatives sodium nitrite, sodium molybdate, BHA, and BHT, which are incorporated into some VCIs, are not safe. While these preservatives may be FDA approved for some food applications, they pose significant skin absorption and inhalation threats in the higher concentrations required for corrosion prevention.

VCIs pose a further threat because, as a recent study by the German Workers Safety Association showed, carcinogenic nitrosamines were formed from the combination of secondary amines and nitrites in 23 of 40 VCI packaging products tested. This was a well-known problem with some metalworking fluids but only just discovered in VCI packaging. The outcome resulted in the German government issuing a regulation (TRGS-615) banning throughout Germany certain VCI formulations and restricting certain other VCI chemical concentrations.

VCI molecules form an invisible, thin protective film on all surfaces, including cracks and crevices. This VCI film adheres to the item, helping it resist the corrosive action of dissolved corrosive gas ions contained within water vapor. Corrosion usually is prevented as long as the chemicals remain active. VCI effectiveness depends on many factors, including package integrity and porosity, temperature, humidity, acidity, and UV exposure. Often, however, VCI packaging is not air tight and VCI vapors leak into personnel workspaces and cargo carriers.

In addition, VCI manufacturers rarely list the chemicals used in their formulations. VCIs can contain many organic and inorganic hazardous chemicals, including those categorized as aromatic and aliphatic amines, nitrites, chromates, borates, zinc salts, polyphosphates, azoles, preservatives, toluene derivatives, phosphonates, and special formulas. To increase the naturally low vapor pressure of some VCIs, solvents may be added. These added solvents may include alcohols, ethers, mineral spirits, acetates, naphthenic distillates, glycols, and others. VCIs must vaporize to be beneficial. Certain VCI formulations and products have been proven hazardous via the accumulation of a rigorous body of scientific evidence.

In the finished product the VCI additive is mostly located inside the polymer film, but some quantity of it is always on the surface. The quantity of additives in the polymer is usually higher than their solubility in the polymer. This is why the polymer - VCI systems formulations could be considered as non-equilibrium products. The less soluble the additive is in the polymer, the more probable is its forcing out to the surface during the cooling of the polymer after extrusion. As a result, a statement to the effect that the VCI film is not completely safe. The potential risks and side effects may drive consumers away from VCI film products

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

Aicello Corporation is one of the major players operating in the VCI Film market, holding a share of 19.65% in 2020.

AICELLO was founded in 1933 as “the MISUZU CELLOPHANE Company” is always conducting business with a spirit of honesty by following the corporate mission statements. AICELLO CORPORATION identifies environmental conservation as one of the key business challenges. Aicello Corporation will contribute towards a sustainable society through design and manufacturing technologies of environmentally-friendly products. The Company's line of business includes the manufacturing of unsupported plastics film and sheet.

Cortec Corporation is committed to providing world class corrosion solutions for industries across the globe. As the global leader in innovative, environmentally responsible VpCI and MCI corrosion control technologies, Cortec seeks to deliver cost-effective, user-friendly integrated solutions for corrosion problems in packaging, metalworking, construction, electronics, oil and gas, and many other industries. Cortec focuses on providing individualized solutions that meet the specific needs of the customer, paired with responsive customer service and a strong record of quick turnarounds and on-time shipments.

Segmentation Overview:

Among different product types, VCI Stretch Film segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2018 to 2022.

Key Companies in the global VCI Film market covered in Chapter 3:

Qingdao Xinyingxin Packaging Material Co., Ltd.
Longkaida
Suzhou Jie Xiu Protection Technology Service Co., Ltd
Wuxi Shinyue Rustproof Materials Co., Ltd
Nokstop Chem
Suzhou Keysun New Materials Technology CO., LTD
BRANOpac
Qingdao RuitaiJia packing materials Co., Ltd.
Nantong Yongyu Anti-rust material Co., Ltd.
Wuxi Xintaizheng Anti-rust Packaging Material Co., Ltd.
BetPak
Daubert Cromwell
NTIC
MetPro Group (Transcendia)
Shenyang Rustproof Packaging Material Co., Ltd
Qingdao TMW Anti-rust Material Co.Ltd
Armor
Qingdao Huitian Packaging Materials Co., Ltd.
Cortec Corporation
Zavenir Daubert
Jiangsu VCIPACK Anti-rust packing material Co., Ltd.
Aicello Corporation
Vappro
Wuxi Yuehan Antirust Packaging Material Co., Ltd.
Suzhou VCIPACK Anti-rust packing material Co., Ltd.
Suprabha

In Chapter 4 and Chapter 14.2, on the basis of types, the VCI Film market from 2018 to 2029 is primarily split into:

VCI Stretch Film
VCI Shrink Film
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the VCI Film market from 2018 to 2029 covers:

Automotive
Steel
Machinery
Electronic
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)