Business

VCI Shrink Films Market to Expand Substantially Owing to Technological Innovations During 2018 – 2028

Press Release

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.

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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.

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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 Propagroup 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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