Anti-Corrosive Packaging Market Expected to Reach $1,223.6 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Anti-Corrosive Packaging Market," The anti-corrosive packaging market size was valued at $683.3 million in 2021, and is estimated to reach $1223.6 million by 2031, growing at a CAGR of 5.9% from 2022 to 2031.

Automotive and electrical & electronics products can go through many changes in climate during transportation. Temperature fluctuation can be a significant factor in the formation of condensation, leading to corrosion. Hence, anti-corrosive protects both accessible and inaccessible metal surfaces from attack by corrosion accelerating agents such as moisture, salt air, airborne acids and contaminants. They provide clean protection that produces no residue or aroma and has no effect upon the electrical or mechanical properties of the product.

Anti-Corrosion packaging is quickly becoming an important trend in packaging automotive parts, industrial goods and consumer goods. Moreover, Sealed Air Europe prides itself in its ability to provide its customers with innovative and cost-effective packaging solutions. In August 2020, Sealed Air, a world leading provider of protective packaging solutions, has announced an exciting new agreement with German-based COMP trade Technologies; a company specializing in corrosion prevention technologies, to incorporate INTERCEPTS Technology into its expanding product range. Such factors are fueling the anti-corrosive packaging market growth.

Paper and polythene are the most commonly used format of anti-corrosive packaging. The format applied will depend upon the metal type, product shape, duration of protection and whether the VCI will be required to protect from abrasion & shock damage as well as corrosion and the climatic conditions. It also protects products against damage from biological sources, ultraviolet light, acids, alkalis and odor transfer.

In 2021, Asia-Pacific dominated the global market, in terms of revenue, accounting for majority of anti-corrosive packaging market share, followed by Europe and North America. Moreover, the market in Asia-Pacific is growing at a high CAGR, owing to manufacturing and industrial development in countries such as China, India, and Japan.

In addition, anti-corrosive packaging market in Asia-Pacific has gained traction in recent years, owing to ongoing metal & steel industry development, expansion of automotive, shipbuilding, and defense industries in China, Japan, and India. Furthermore, factors such as availability of workforce and low-cost manufacturing are expected to fuel the growth of anti-corrosive packaging market forecast period.

Furthermore, on the basis of application, the electrical & electronics segment is expected to register highest CAGR during the forecast period. Harsh environments can cause electrochemical deterioration and chemical attack on metallic wire terminals. Overall, the corrosion of current-carrying parts and switching, as well as controlling equipment, affects the reliability and uninterrupted operation of all kinds of electrical components and production facilities. The careful selection of coatings and substrate materials based on the service exposure of electrical equipment and controls can improve the reliability and cost effectiveness of the entire system.

However, during the COVID-19 pandemic, various manufacturers in the anti-corrosive packaging market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of anti-corrosive packaging companies. In addition, lack of manpower and raw materials also constricted supply for equipment of anti-corrosive packaging system, which negatively influenced growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of anti-corrosive packaging companies.

Key Findings of The Study

• The report provides an extensive analysis of the current and emerging global anti-corrosive packaging market trends and dynamics. 
• Depending on material type, the PE (Polyethylene) segment dominated the market, in terms of revenue in 2021 and others segment is projected to grow at a significant CAGR during the anti-corrosive packaging forecast period.
• By product type, the foils segment is expected to registered the highest revenue in 2021.
• In terms of application, the automotive segment has the highest revenue in 2021.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the global anti-corrosive packaging market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand competitive outlook of the anti-corrosive packaging industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market.
• In-depth global anti-corrosive packaging market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.