Press release
Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market size, Status And Forecast 2024 To 2033
Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market
The Business Research Company presents an extensive market research report on the "Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Global Market Report 2024," furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings industry. This report on Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The corrosion under insulation (cui) & spray-on insulation (soi) coatings market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to increased demand for industrial infrastructure maintenance, increased need for corrosion prevention and protection, increased requirement for energy efficiency and insulation, growth of oil and gas industry needs, and petrochemical and chemical plants.The corrosion under insulation (cui) & spray-on insulation (soi) coatings market size is expected to see strong growth in the next few years. It will grow to $2.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%.
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Key Market Players:
Akzo Nobel N.V., PPG Industries Inc., Jotun A/S, The Sherwin-Williams Company, Hempel A/S
Market Drivers:
According to the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Report 2024 by The Business Research Company, The rapid growth in end-use industries such as marine, oil and gas, and petrochemical, construction industries, is driving the growth of corrosion under insulation (CUI) and spray-on insulation (SOI) coatings. Marine industries, the oil and gas industry, construction and the petrochemical industry have been rising in recent years due to economic growth and industrialization. These industries are equipped with large numbers of pipelines that are continuously exposed to corrosive chemicals and moisture. Thus, they constantly need coatings to protect pipelines from corrosion, which drives the corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market forward. For instance, in June 2022, according to a recent estimate by the International Energy Agency (IEA), global energy investment is expected to expand by 8% in 2022 to reach USD 2.4 trillion, with the anticipated increase coming mostly from renewable energy.
More information about the Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Report -
https://www.thebusinessresearchcompany.com/report/corrosion-under-insulation-cui-and-spray-on-insulation-soi-coatings-global-market-report
Market segments for Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings include:
1) By Product: Solvent-Based Coating, Water-Based Paint, Powder Coating
2) By Material: Epoxy Anticorrosive Coating, Polyurethane Coating, Inorganic Zinc-Rich Coating, Alkyd Coating, Acrylic Coating, Chlorinated Rubber Coating, Other Materials
3) By End-User: Marine, Oil and Gas and Petrochemical, Energy and Power, Other End-Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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