This Vci Shrink Films market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Vci Shrink Films market.
VCI Shrink Films Market: Overview
VCI shrink films is also known as VCI shrink wrap and is made up of LDPE and easy to apply and available in wide range of sizes. These films are available in non-ferrous, ferrous and multi protection types and in different rolls, sheets and bags & tubing. There are two ways in which to wind VCI shrink film onto a core that are singlewound and centerfold. VCI shrink films are primarily used to protect metal components against corrosion, rust & contamination. These films are nitrite-free and therefore are environment friendly. VCI shrink films contains active substance such as volatile corrosive inhibitor that penetrate into cavities in metal and creates protective atmosphere against corrosion. VCI shrink films provides dry method of protection to metals from both direct contact and vapor action. VCI shrink films are water resistant polyethylene films that finds application in packaging of automotive parts or components.
VCI Shrink Films Market: Dynamics
Rise in imports and exports of automotive goods driving the VCI Shrink Films market. For instance, according to the International Trade Administration, Department of Commerce, United States exported automotive goods valued at USD 85.6 billion in 2017, thereby increasing the demand for VCI shrink films market.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Demand for non-toxic and recyclable films are increasing which in turn rising the market of VCI shrink films. Another reason for manufacturers to opt these films are its transparent feature, which helps in visual checking of goods. In addition, VCI shrink films are eco-friendly that doesn’t afflict nature or human health. VCI shrink films provides cost effective packaging solution that is one of the reason that it is preferred over other films. According to International Measures of Prevention, Application and Economics of Corrosion Technology (IMPACT), the global cost of corrosion is estimated to be US$ 2.5 trillion which is equivalent to 3.4% of global GDP in 2013. It was observed that the major contribution of corrosion was from automotive and metallurgy industry which in turn filliping the demand from VCI shrink films across the globe. The corrosion control measures which includes VCI shrink films, coatings etc. can provides cost benefit solutions too.
Asia Pacific to register high sales in the VCI shrink films market during the forecast period
Geographically, the global VCI shrink films market can be segmented based on the region like Asia Pacific, North America, Western Europe, Latin America, Eastern Europe, MEA & Japan. Talking of developed countries like Germany, Italy and France in Europe are investing in automotive projects which in turn rising the demand for VCI shrink films market in the near future. Whereas developing countries such as China, India & Japan in Asia Pacific region to have high potential in the VCI shrink films market owing to the fact that China generated revenue of US$ 29 million in 2017 from semiconductors and LEDs in electronics thereby making China largest consumer of packaging equipment and materials in 2017, hence escalating the demand from VCI Shrink Films market.
VCI Shrink Films Market: Key Players
Some of the key players in the VCI shrink films market are as follows:
- MAGNA INTERNATIONAL PTE LTD.
- Northern Technologies International Corporation (NTIC)
- Season International Trading & Industries Company W.L.L.
- Aicello Corporation
- Superior Industries, Inc.
- Cortec Corporation
- MetPro Group
- Daubert Cromwell, Inc.
- BRANOpac GmbH
- Harita-NTI Ltd.
VCI Shrink Films Market: Key Players
Some of the key developments in the VCI shrink films market are as given below:
- In 2017, Cortec Corporation expanded its manufacturing facility in Croatia for vapor corrosion inhibitor films (VCI) and bags for packaging.
- Northern Technologies International Corporation (NTIC) is expanding through launching new products in the market. This film provides cost-effective and versatile protection against corrosion damage for metals in shipping and storage.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain of the global VCI shrink films market. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with VCI shrink films market attractiveness as per segments. The report also maps the qualitative impact of various factors on VCI shrink films market segments and geographies.
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VCI Shrink Films Market: Segmentation
On the basis of film thickness, VCI shrink films are segmented into:
- Below 25 micron
- 25-100 microns
- 100-200 microns
- Above 200 microns
On the basis of end use industry, VCI shrink films are segmented into:
- Mining and Metallurgy
- Electronical & Electrical
- Transport & Logistic
VCI Shrink Films Market: Report Highlights
- A detailed overview of the parent market of VCI shrink films
- Changing market dynamics in the industry
- In-depth segmentation of VCI shrink films market
- Historical, current, and projected market size regarding volume and value
- Recent industry trends and developments in VCI shrink films market
- Competitive landscape
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth