Overview and Scope
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.
Sizing and Forecast
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 2024 to $1.96 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. 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 $2.57 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. 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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Segmentation & Regional Insights
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
Top 5 Major Players:
- Akzo Nobel N.V
- PPG Industries Inc.,
- Jotun A/S,
- The Sherwin-Williams Company,
- Hempel A/S
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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Major Driver Impacting Market Growth
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.
Key Industry Players
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.
The corrosion under insulation (cui) & spray-on insulation (soi) coatings market report table of contents includes:
1. Executive Summary
2. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Characteristics
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. Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size and Growth
…..
31. Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Competitive Benchmarking
32. Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market
34. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
…..
Table 74: Akzo Nobel N.V. Financial Performance
Table 75: PPG Industries Inc. Financial Performance
Table 76: Jotun A/S Financial Performance
Table 77: The Sherwin-Williams Company Financial Performance
Table 78: Hempel A/S Financial Performance
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