Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Analysis (2023): Impressively Growing Latest Trends with Business Opportunities Along with Top Key Players by 2027

The corrosion under insulation (CUI) and spray-on insulation (SOI) coatings market is a segment of the overall coatings industry, which includes the production and sale of various types of coatings that are used to protect and decorate surfaces. CUI coatings are used to protect metal surfaces from corrosion that can occur when they are covered by insulation. SOI coatings, on the other hand, are used to insulate surfaces, typically to reduce heat loss or gain. The Corrosion Under Insulation and Spray-on Insulation Coatings Market size is projected to grow from USD 1.9 billion in 2022 to USD 2.3 billion by 2027, at a CAGR of 4.7%. The report Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market provides analysis by Type (Epoxy, Acrylic, Silicone, and Others), End-Use Industry Oil & Gas, and Petrochemical, Marine, Energy & Power) and Region.

The demand for CUI and SOI coatings is driven by the need to protect and insulate various types of infrastructure, including pipelines, tanks, and vessels, as well as buildings and other structures. These coatings are used in a variety of industries, including oil and gas, petrochemical, power generation, and construction.

The CUI and SOI coatings market is expected to grow in the coming years due to increasing investment in infrastructure and the need to protect and maintain existing assets. The adoption of advanced coatings technologies, such as spray-applied coatings, is also expected to drive market growth. However, the market may be impacted by factors such as changes in regulations, competition from alternative materials, and fluctuating raw material prices. 

The demand for CUI and SOI coatings is expected to grow as industries continue to invest in maintaining and protecting their assets. The increasing focus on sustainability and the need to reduce maintenance costs is also driving demand for these coatings.

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Corrosion Under Insulation (CUI) refers to the corrosion that occurs on the surface of pipes and equipment that are insulated, often due to water or moisture that is trapped between the insulation and the metal surface. CUI can cause significant damage to the equipment and can result in safety hazards if not properly addressed.

Spray-on Insulation (SOI) Coatings, on the other hand, are a type of insulation that is sprayed directly onto the surface of pipes and equipment. These coatings can provide both thermal insulation and corrosion protection, and can be applied in a variety of industrial settings.

The Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings industry is therefore focused on developing solutions to prevent and mitigate the effects of CUI, as well as providing high-performance SOI coatings that can protect equipment and reduce energy consumption. 

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Key Players

  • Akzo Nobel N.V. (Netherlands),
  • PPG Industries, Inc., (US),
  • Jotun A/S (Norway),
  • The Sherwin-Williams Company (US),
  • Hempel A/S (Denmark),
  • Kansai Paint Co., Ltd (Japan),
  • Nippon Paint Co., Ltd. (Japan),
  • RPM International Inc (US).

The demand for CUI and SOI coatings is expected to increase in the coming years due to the growing need for energy efficiency and the increasing use of insulated equipment in various industries. The growth of the oil and gas industry, in particular, is expected to drive demand for these coatings.

There are several factors that could affect the market for CUI and SOI coatings. These include changes in the price of raw materials, advances in technology, and changes in regulations and standards. The level of competition in the market and the availability of alternative coatings could also affect the market.

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

The market for CUI and SOI coatings is segmented based on the on type, end-use industry, and region.

Based on Type

  • Epoxy
  • Acrylic
  • Silicone
  • Others (multi-polymeric matrix, zinc silicate, oxide chemicals, titanium modified inorganic copolymer, and water-based CUI coatings)

The epoxy-based CUI & SOI coatings to lead the market, by type, during the forecast period.

Epoxy-based CUI coatings have been estimated to lead the market during the forecast period. It is widely used in CUI & SOI coating because of its excellent grip, and chemical resistant properties. The properties of epoxy-based coatings can be improved by the suitable addition of additives and modifiers to meet the required specifications. They are hard and resist humidity, abrasion, acid, water, alkali, and seawater. They hold low volatility and are water cleanable. These features make them ideal for use on metal surfaces such as cast iron and aluminum.

Based on End-use industries

  • Marine
  • Oil & gas, and petrochemical
  • Energy & Power
  • Others (building & construction, food, pharmaceuticals, and automotive)

The oil & gas, and petrochemical segment are estimated to be the largest end-use industry in the CUI & SOI coatings market during the forecast period.

Intense and hazardous operations are conducted in the oil & gas industry. CUI & SOI coatings are used for oil & gas pipelines (new & repair), which include onshore & offshore operations. This industry is growing rapidly, as many refineries globally are converting into integrated plants.

Based on the Region

  • North America
  • Europe
  • APAC
  • Middle East & Africa
  • South America

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The CUI & SOI coatings market in the Asia Pacific is expected to register the highest CAGR during the forecast period.

The market for CUI & SOI coatings in APAC is projected to register significant growth, and this trend is projected to continue during the forecast period. Asia Pacific is the fastest-growing CUI & SOI coatings market globally. This is attributed to economic growth, followed by large investments in various industries such as petrochemical, oil & gas, marine, energy & power, and others. APAC is the most lucrative market and should be the same in the near future.

APAC is the center of foreign investments and booming manufacturing sectors due to the low-cost labor and inexpensive availability of land. The rise in demand for CUI & SOI coatings can be ascribed to the growing marine, oil & gas, and petrochemical industries. These factors are contributing to the rising demand for CUI & SOI coatings in the Asia Pacific.

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