Abstract: A water resistant and vapour phase corrosion inhibitor composite material for wrapping around metallic items for protection and to reduce corrosion during storage and transportation. The composite material comprises a high strength, tear resistant, flexible scrim, a low density layer impregnated with a solid form vapour phase corrosion inhibitor, and a barrier layer to reduce the transmission of water, water vapour, oxygen and other environmental gases through the composite material. The barrier layer also reduces the atmospheric loss of gaseous vapour phase corrosion inhibitor from around the wrapped item. Each layer is formed from a polyolefin material to create a multi-layered polyolefin composite material that is easily recyclable.