Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Industry Set to Achieve $2.73 Billion Milestone by 2029 | Steady 7.6% CAGR

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What Is the Long-Term Growth Forecast for the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size 2025?
The market size for corrosion under insulation (cui) & spray-on insulation (soi) coatings has seen a consistent growth in the past years. Projected to rise from $1.94 billion in 2024 to $2.03 billion in 2025, it exhibits a compound annual growth rate (CAGR) of 4.6%. The past growth in the market can be linked to a rising demand for maintenance of industrial infrastructure, a growing need to prevent and protect against corrosion, an increasing importance placed on energy efficiency and insulation, and the expanding requirements of the oil and gas industry, including petrochemical and chemical plants.

What CAGR is Forecasted for the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Through 2029?
The market size for corrosion under insulation (cui) & spray-on insulation (soi) coatings is predicted to experience a substantial increase in the upcoming years. By 2029, the market is anticipated to reach a value of $2.73 billion, with a compound annual growth rate (CAGR) of 7.6%. This surge in the forecast period can be credited to factors like the refurbishment of old structures, offshore and marine applications, development in insulation materials, rising demand for sustainable and eco-friendly coatings, an uptick in asset integrity management, and expansion into emerging markets. Key market trends to watch out for during the forecast period include the advent of digital inspections and monitoring, the fusion of smart coatings and the Internet of Things (IoT), advanced coating technologies, as well as an increased focus on sustainable and eco-friendly coatings.

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What Are the Critical Factors Driving Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Development?
The exponential rise in sectors such as marine, oil and gas, petrochemical, and construction is catalysing the growth of the corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market. The burgeoning growth of these industries has been fueled by economic growth and industrialization. These sectors are equipped with massive numbers of pipelines that are consistently exposed to corrosive chemicals and humidity. Thus, there is a perpetual demand for coatings to safeguard these pipelines from corrosion, propelling the CUI and SOI coatings market. For instance, in June 2022, the International Energy Agency (IEA) projected a global energy investment surge by 8% in 2022 to reach USD 2.4 trillion, predominantly from renewable energy. Additionally, the U.S. Census Bureau's monthly report on construction spending in 2022 revealed that construction expenditure ascended to $1,744.8 billion in April 2022, marking a 0.8% increase from the revised March estimate of $1,740.6 billion. Consequently, the expansion of end-use industries is anticipated to drive the growth of the corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market.

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How Does the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Break Down Across 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

Subsegments:
1) By Solvent-Based Coating: Epoxy Solvent-Based Coatings, Polyurethane Solvent-Based Coatings, Alkyd Solvent-Based Coatings
2) By Water-Based Paint: Acrylic Water-Based Paints, Latex Water-Based Paints, Water-Based Epoxy Coatings
3) By Powder Coating: Thermoset Powder Coatings, Thermoplastic Powder Coatings, Specialty Powder Coatings

What Are the Major Trends Transforming the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Industry?
The trend of forging strategic alliances is becoming increasingly prevalent in the corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market. Notable firms in these sectors are utilizing partnerships as a tool to broaden their market presence. For instance, in August 2023, BASF SE, a German chemicals company that specializes in corrosion protection under insulation and coatings, allied with Nippon Paint Holdings Co. Ltd. The goal of the partnership is to concentrate on establishing a green industrial chain for enduring development in the packaging industry. Nippon Paint Holdings Co. Ltd, based in Japan, offers paints and coatings. Furthermore, in March 2023, Safi-Alcan, a French chemicals company offering paints and coatings, collaborated with the Paints & Coatings division of Shimmer & Schwarz, Inc. Through this partnership, Safi-Alcan's objective is to diversify its product portfolio and give customers a broader choice of solutions. Shimmer & Schwarz Inc., German chemicals firm, is also a provider of paints and coatings.

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Which Players Are Driving Innovation in the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market?
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., 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

Which Regions Are Driving Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Expansion?
Asia-Pacific was the largest region in the corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market in 2024. 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.

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