Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size, Share, Segment Analysis And Forecast To 2033

The new report published by The Business Research Company, titled ""Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, 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 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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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.

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.

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

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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.

Contents of the report:
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

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