The Business Research Company’s report on the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How are market drivers shaping the future growth trajectory of the corrosion under insulation (cui) & spray-on insulation (soi) coatings industry?
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.
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What is the estimated market size of the corrosion under insulation (cui) & spray-on insulation (soi) coatings sector by 2029, based on current forecasts?
The corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market size has grown strongly in recent years. It will grow from $1.94 billion in 2024 to $2.07 billion in 2025 at a compound annual growth rate (CAGR) of 6.3%. 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 $2.81 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%. 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.
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#Who are the top players 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
#What are the major trends in the corrosion under insulation (cui) & 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.
Which geography holds the highest corrosion under insulation (cui) & spray-on insulation (soi) coatings market share?
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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How do different segments contribute to the overall expansion of the corrosion under insulation (cui) & spray-on insulation (soi) coatings market?
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
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What defines the structure and scope of the corrosion under insulation (cui) & spray-on insulation (soi) coatings market?
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. Corrosion under insulation (CUI) And spray-on insulation (SOI) coatings are used for the protection of metal and metal components from degradation and decomposition due to exposure to moisture, oxidation, and heat exposure.
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