Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Global Market Report 2024 by The Business Research Company | Akzo Nobel N.V., PPG Industries Inc., Jotun A/S, The Sherwin-Williams Company, Hempel A/S, Kansai Paint Co. Ltd., Nippon Pai

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%. The growth in the forecast period can be attributed to aging infrastructure renewal, offshore and marine applications, advanced insulation materials, increasing sustainable and eco-friendly coatings, increasing asset integrity management, and emerging market expansion. Major trends in the forecast period include introduction of digital inspections and monitoring, smart coatings and iot integration, advanced coating technologies, smart coatings and iot integration, and sustainable and eco-friendly coatings.

Request A Sample Of This Report - https://www.thebusinessresearchcompany.com/sample.aspx?id=7623&type=smp

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Major Segments
The corrosion under insulation (cui) & spray-on insulation (soi) coatings market covered in this report is segmented -

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

Key Driver - End-Use Industry Growth Fuels Corrosion Under Insulation (CUI) And Spray-On Insulation (SOI) Coatings Market Expansion

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. Furthermore, according to the U.S. Census Bureau report on monthly construction spending in 2022, construction spending reached $ 1,744.8 billion in April 2022, a 0.8% rise from the revised March estimate of $ 1,740.6 billion. Therefore, the growth of end-user industries is expected to propel the growth of the corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market going forward.

Customise This Report As Per Your Requirements - https://www.thebusinessresearchcompany.com/Customise?id=7623&type=smp

Prominent Trend - Strategic Partnerships Driving Growth In Corrosion Under Insulation (CUI) And Spray-On Insulation (SOI) Coatings Market

Strategic partnerships have emerged as a key trend gaining popularity in the corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market. Major companies operating in the corrosion under insulation (CUI) and spray-on insulation (SOI) coatings sectors are entering into a partnership to expand their market. In August 2023, BASF SE, a Germany-based chemicals company that provides corrosion protection under insulation and coatings, made a partnership with Nippon Paint Holdings Co. Ltd. With this partnership, BASF SE aims to focus on building a green industrial chain for sustainable development in the packaging industry. Nippon Paint Holdings Co. Ltd. is a Japan-based provider of paints and coatings. Additionally, in March 2023, Safi-Alcan, a France-based chemicals company that provides paints and coatings, partnered with the Paints & Coatings division of Shimmer & Schwarz, Inc. With this partnership, Safi-Alcan aims to expand its product offerings and provide its customers with a wider range of solutions. Shimmer & Schwarz Inc. is a Germany-based chemicals company that also provides paints and coatings.

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Players
Major companies operating in the corrosion under insulation (cui) & spray-on insulation (soi) coatings market include Akzo Nobel N.V., PPG Industries Inc., Jotun A/S, The Sherwin-Williams Company, Hempel A/S, Kansai Paint Co. Ltd., Nippon Paint Co. Ltd., RPM International Inc., Mascorp LLC, Syneffex Inc., Kaefer GmbH, Belzona Inc., Resimac Ltd., Carboline Company, International Paint Ltd., Rust-Oleum Corporation, Induron Protective Coatings, A&A Coatings, Advanced Polymer Coatings Inc., Tnemec Company Inc., Axalta Coating Systems Ltd., H.B. Fuller Company, BASF SE, Ameron International Corporation, Denso North America Inc., ENECON Corporation, Flowcrete Group Ltd.

View The Full Report Here - https://www.thebusinessresearchcompany.com/report/corrosion-under-insulation-cui-and-spray-on-insulation-soi-coatings-global-market-report

Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the corrosion under insulation (cui) & spray-on insulation (soi) coatings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Report Structure
3. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Trends And Strategies
4. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market - Macro Economic Scenario
5. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size And Growth
…..
27. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.