Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Research Report, Emerging Trends and Competitive Analysis During 2021-2031

Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market: Overview

End-use industries such as oil & gas, and petrochemical, marine, energy & power, and other industries are expected to drive growth of the global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market. As a result, the CUI & SOI coatings market is likely to benefit from rapid expansion of these industries.

Storage tanks, pipelines, reactors, and equipment in the oil and gas and industrial sectors are all safeguarded with corrosion protection coatings like CUI and SOI. These industries employ corrosive and hazardous chemicals, as well as high-temperature and high-heat procedures. In addition, the reactor surface is subjected to a variety of environmental conditions. In certain regions, the adoption of heavy-duty corrosion protective coatings can avoid or lessen the influence on reactor surfaces. As a result, the equipment's operating life is prolonged. Industry is reducing costs as a result of the highly competitive environment. Insulation made with heavy-duty corrosion protective coatings leads to ower running expenses, which is likely to drive drive revenue-generation opportunities in corrosion under insulation (CUI) & spray-on insulation (SOI) coatings industry.

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Type, end use, and region are significant market parameters that have been taken into account while categorizing the global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market.

Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market: Notable Developments

For instance, AkzoNobel completed the takeover of Grupo Orbis, a Colombian paints and coatings manufacturer, in June 2021. Such strategic moves are expected to trigger expansion of the market in the years to come.

Some of the major players in the global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market are as mentioned below

Nippon Paint Co., Ltd.
Akzo Nobel N.V.
The Sherwin-Williams Company
Kansai Paint Co., Ltd
RPM International Inc.
Hempel A/S
Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings
Market: Key Trends

Below-mentioned developments, restraints, opportunities, and drivers are anticipated to characterize the global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market

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Rising Demand for Epoxy CUI and SOI Coatings in End Use Industries to Trigger Growth of the Market

In the forthcoming years, epoxy-based CUI coatings are expected to lead the market. Because of its good grip and chemical resistance, it is commonly utilized in CUI and SOI coating. In order to satisfy the required criteria, epoxy-based coatings can be enhanced by adding the appropriate additives and modifiers. They are tough and can withstand moisture, acid, seawater, abrasion, water, and alkali. They have low volatility and may be cleaned with water. Demand analysis of corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market predict that these characteristics make them perfect for use on cast iron and also aluminum surfaces.

Epoxy CUI & SOI coatings are often used in shipbuilding and maritime maintenance and repair. Other important end-use sectors for epoxy-based CUI & SOI coatings include oil & gas, infrastructure,and petrochemical. Rise in demand from these end use industries are expected to drive sales of corrosion under insulation (CUI) & spray-on insulation (SOI) coatings.

The need for CUI & SOI coatings with greater characteristics and effectiveness has grown as operating circumstances in end-use sectors such as marine and oil & gas have changed. For instance, the growing usage of improved oil recovery (EOR) procedures in the oil and gas industry have necessitated the development of coatings that can withstand high pressure and temperatures while also providing long-term structural protection. The need for high-solid CUI coatings in the maritime, oil and gas, and infrastructure industries has boosted R&D efforts to produce these coatings that can withstand extreme circumstances. This is a temporary driver, but it has the ability to become more permanent. As a result, the rising demand for highly efficient CUI & SOI coatings is likely to provide considerable market growth prospects.

Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market: Geographical Analysis

In the Asia Pacific region, the market for CUI and SOI coatings is expected to increase significantly, and this trend is expected to remain in the years to come. This is attributable to economic expansion, which has been accompanied by huge investments in energy and power, oil and power, maritime, petrochemical as well as other industries. Asia Pacific is one of the most lucrative markets, and it will continue to be such in the years to come.

Due to low-cost labor and readily available land, APAC is the epicenter of international investment and burgeoning manufacturing industries. The rising maritime, oil & gas, and petrochemical sectors may be blamed for the increase in demand for CUI & SOI coatings.

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The market for CUI & SOI coatings in APAC is projected to register significant growth, and this trend is projected to continue during the forecast period. Asia Pacific is the fastest-growing CUI & SOI coatings market globally. This is attributed to economic growth, followed by large investments in various industries such as petrochemical, oil & gas, marine, energy & power, and others. APAC is the most lucrative market and should be the same in the near future.

APAC is the center of foreign investments and booming manufacturing sectors due to the low-cost labor and inexpensive availability of land. The rise in demand for CUI & SOI coatings can be ascribed to the growing marine, oil & gas, and petrochemical industries. These factors are contributing to the rising demand for CUI & SOI coatings in the Asia Pacific.

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