Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size study, byType (Epoxy, Acrylic, Silicone, and Others), End-Use (Marine, Oil & Gas, and Petrochemical, Energy & Power, others)and Regional Forecasts 2022-2028

Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size study, byType (Epoxy, Acrylic, Silicone, and Others), End-Use (Marine, Oil & Gas, and Petrochemical, Energy & Power, others)and Regional Forecasts 2022-2028

Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market is valued approximately USD 1.8 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2022-2028.Corrosion protection coatings, such as CUI and SOI coating, are used in the oil and gas and industrial sectors to safeguard pipelines, equipment, reactors, and storage tanks. These industries use toxic and corrosive chemicals, as well as operations that involve high temperatures and heat. Furthermore, this equipment is subjected to a variety of meteorological conditions, which impact the reactor surface. Key players are making strategic moves to enhance their footprint in market. In June 2021n AkzoNobel announced the acquisition of Grupo Orbis, a Colombian paints and coatings manufacturer,. In November 2019,
AkzoNobel built a research and innovation facility in Felling, Gateshead, UK, with an investment of USD 10 million for product testing in simulations of the world's most harsh conditions. The adoption of heavy-duty corrosion protective coatings may prevent or decrease the impact on the reactor surfaces. As a result, the equipment's operating life is extended.According to the EU regulations, any product used for concrete repair regulations was designed to limit volatile organic compound (VOC) emissions from coatings. LEED GreenSeal GC-03 2nd Ed., 1997 and REACH both stipulate the VOC content of CUI and SOI coatings in grammes per litre (g/l). These laws have compelled coating manufacturers to adhere to the guidelines by lowering VOC levels. However, the increased demand for high-efficiency CUI & SOI coatings is likely to create considerable prospects for market expansion.

The key regions considered for the global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Marketstudy includes Asia Pacific, NA, LA, Europe and ROW. APAC is a hotbed of foreign investment and thriving manufacturing sectors because to low-cost labour and cheap land availability. The increasing marine, oil and gas, and petrochemical industries are driving up demand for CUI and SOI coatings. These reasons are driving the demand for CUI and SOI coatings in Asia Pacific. The APAC CUI & SOI coatings market is expected to grow at the fastest rate in terms of value between 2022 and 2028. This expansion is attributed to the expanding oil and gas, petrochemical, marine, and power generation industries. The expansion of these business fuels demand for CUI & SOI coatings. Because of the region's rapid economic expansion, Asia Pacific is a lucrative market for CUI and SOI coatings makers.

Major market player included in this report are:
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 (US)
Mascoat
Syneffex Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
ByType:
Epoxy
Acrylic
Silicone
Others

By End-use industries:

Marine
Oil & gas, and petrochemical
Energy & Power
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

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 (US)
Mascoat
Syneffex Inc.

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