(MENAFN- EIN Presswire)
The rise in industrialization and manufacturing drives growth as key players in the anti-corrosive packaging industry expand to strengthen their global presence
WILMINGTON, DE, UNITED STATES, December 18, 2024 /EINPresswire / -- Anti-Corrosive Packaging Market: Growth, Trends, and Insights
A recent report by Allied
market Research, titled “Anti-Corrosive Packaging Market,” reveals the sector's significant growth potential. The market, valued at $683.3 million in 2021, is projected to reach $1,223.6 million by 2031, growing at a compound annual growth rate (CAGR) of 5.9% from 2022 to 2031.
Download PDF Sample Copy:
Market Overview
Anti-corrosive packaging is critical for protecting automotive, electrical, and electronic products during transportation. Temperature fluctuations can create condensation, leading to corrosion. This packaging safeguards both visible and hidden metal surfaces from moisture, salt air, acids, and other contaminants. Additionally, it leaves no residue, odor, or impact on the electrical or mechanical properties of the items it protects.
Rising Adoption and Key Innovations
The demand for anti-corrosive packaging is growing in industries like automotive, industrial goods, and consumer products. Companies such as Sealed Air Europe are leading the charge with innovative, cost-effective solutions. In August 2020, Sealed Air partnered with Germany-based COMP Trade Technologies to incorporate INTERCEPTS Technology into its product range, further driving market growth.
Paper and polyethylene are the most commonly used materials in anti-corrosive packaging. The choice of format depends on factors like the type of metal, product shape, duration of protection, and environmental conditions. These materials also protect against biological damage, UV light, acids, alkalis, and odor transfer.
Regional Market Insights
In 2021, Asia-Pacific dominated the global anti-corrosive packaging market, accounting for the largest revenue share. The region's high CAGR is driven by rapid manufacturing and industrial development in countries like China, India, and Japan. Expanding automotive, shipbuilding, and defense industries further fuel growth, along with advantages like a skilled workforce and low manufacturing costs.
Application Insights
The electrical and electronics segment is anticipated to grow at the highest CAGR during the forecast period. Harsh environments can cause electrochemical damage and corrosion to metallic wire terminals and current-carrying parts. This impacts the reliability of electrical systems and production facilities. Carefully selected coatings and substrate materials can enhance the performance and cost-effectiveness of these systems, increasing demand for anti-corrosive packaging in the sector.
Challenges and Recovery Post-Pandemic
The COVID-19 pandemic significantly impacted the anti-corrosive packaging market. Manufacturing halts in key regions like China, the U.S., and India disrupted supply chains and sales. Additionally, labor shortages and raw material scarcity further constrained market growth. However, the reopening of production facilities and widespread vaccination efforts have enabled companies to recover, restoring momentum to the market.
Purchase Enquiry:
Key Findings
Material Type: The polyethylene (PE) segment dominated the market in 2021, while other materials are projected to grow at a significant CAGR during the forecast period.
Product Type: The foils segment generated the highest revenue in 2021, reflecting its widespread adoption.
Application: The automotive segment led in revenue in 2021, driven by increased use of anti-corrosive packaging to safeguard vehicle components during transportation.
Regional Insights: Asia-Pacific is expected to register the highest growth rate due to robust industrial development and favorable market conditions.
Competitive Landscape
Key players profiled in the report include:
Sealed Air Corporation
Intertape Polymer Group Inc.
Cortec Corporation
Propagroup S.p.A.
Daubert Cromwell, Inc.
Branopac GmbH
Protective Packaging Corporation
Armor Protective Packaging
MetPro Group
Nefab AB
These companies are employing strategies such as innovation, partnerships, and geographical expansion to strengthen their market position.
Future Outlook
The anti-corrosive packaging market is poised for substantial growth, driven by technological advancements, expanding industrial applications, and rising demand in emerging economies. As industries like automotive, electronics, and defense continue to grow, the need for reliable corrosion protection will remain critical.
The report provides an in-depth analysis of current trends, emerging opportunities, and key segments, offering valuable insights into the market's future trajectory. With increasing global industrialization and technological advancements, the anti-corrosive packaging market is set to witness robust growth in the coming decade.
David Correa
Allied Market Research
+ 1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN18122024003118003196ID1109005358
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.