Global Corrosion Under Insulation (CUI) & Spray-On Insulation (SOI) Coatings Market Trends For 2022-2031

The Business Research Company’s Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Global Market Report 2022-2026

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According to ‘Corrosion Under Insulation (CUI) & Spray-On Insulation (SOI) Coatings Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market size is expected to reach a value of nearly $ 1.72 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The global corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market is expected to reach $ 2.10 billion in 2026 at a CAGR of 5.2%. The rapid growth in end-use industries such as marine, oil & gas, and petrochemical, construction industries, is driving the growth of corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market.

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The corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market consists of sales of corrosion under insulation (CUI) & spray-on insulation (SOI) coatings by entities (organizations, sole traders, and partnerships) that are used for the protection of metal and metal components from degradation and decomposition due to exposure to moisture, oxidation, and heat exposure. Corrosion under insulation refers to corrosion of steel and iron equipment due to the entry of moisture from insulation vents. Spray-on insulation coating is an epoxy-based coating applied to the inner lining of insulation pipes in the form of compressed air. The coating can prolong the service life of the pipeline and protect it from corrosion.

Global Corrosion Under Insulation (CUI) & Spray-On Insulation (SOI) Coatings Market Trends
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 corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market. For instance, in June 2020, BASF, a German-based chemical manufacturing company specializing in coatings, entered into a partnership with GACNE. The partnership aims to improve GACNE’s paint shop operations and decision-making. BASF will supply technical know-how, including administration of the paint facility and thorough color development. BASF has taken over as GACNE’s only coating supplier, including e-coat, primer, the basecoat, and clear coat. GACNE is a China-based automotive manufacturing company. Moreover, in February 2020, PPG Industries Inc., a US-based paints, coatings, and specialty materials company, collaborated with Dow and its Sustainable Future Program for an undisclosed amount. The collaboration focuses on development to accelerate the adoption of low-carbon technologies. Further, it focuses on advances in anti-corrosion coating products for steel, designed to deliver reduced greenhouse gas (GHG) emissions through increased energy efficiency while helping to lessen the high maintenance costs of steel infrastructure. Dow is a US-based chemical company that manufactures coatings and insulation material and products.

Global Corrosion Under Insulation (CUI) & Spray-On Insulation (SOI) Coatings Market Segmentation

The global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market is segmented:

By Product: Solvent-Based Coating, Water-Based Paint, Powder Coating

By Material: Epoxy Anticorrosive Coating, Polyurethane Coating, Inorganic Zinc-Rich Coating, Alkyd Coating, Acrylic Coating, Chlorinated Rubber Coating, Other Materials

By End-User: Marine, Oil and Gas and Petrochemical, Energy and Power, Other End-Users

By Geography: The global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia-Pacific accounts for the largest share.

Read more on the global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market report here

Corrosion Under Insulation (CUI) & Spray-On Insulation (SOI) Coatings Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market overviews, analyzes and forecasts corrosion under insulation (CUI) & spray-on insulation (SOI) coatings size and growth for the global corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market growth, corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market share, corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market segments and geographies, corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market players, corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market leading competitor revenues, profiles and market shares. The corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.

TBRC’s Corrosion Under Insulation (CUI) & Spray-On Insulation (SOI) Coatings Global Market Report 2022 includes information on the following:

Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies

Key Market Players: 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., Mascoat, Syneffex Inc., Kaefer GmbH

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.

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