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

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size and Segment by Type (Epoxy, Acrylic, Silicone, Others), By end-use industries (Marine, Oil & gas, and petrochemical, Energy & Power, Others), and by Regions | Global Market Forecast 2022-2028

Report Id: SNS/C&M/1695 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size was valued at USD 1.5 billion in 2021, and expected to reach USD 2.13 billion by 2028, and grow at a CAGR of 4.5% over the forecast period 2022-2028.  During the projection period, epoxy-based CUI coatings are expected to lead the market. Because of its good grip and chemical resistance, it is commonly utilised in CUI and SOI coating. To satisfy the needed criteria, the characteristics of epoxy-based coatings can be improved by adding the appropriate additives and modifiers. They're tough and can withstand moisture, abrasion, acid, water, alkali, and saltwater. They are water-cleanable and have a low volatility. They are suited for use on metal surfaces such as cast iron and aluminium because of their characteristics.

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

Epoxy CUI & SOI coatings are widely used in the maritime industry for shipbuilding and maintenance and repair. Other important end-use sectors for epoxy-based CUI & SOI coatings include infrastructure, oil & gas, and petrochemical.

Market Dynamics:

Drivers:

  • The demand for efficient processes is growing.

  • Equipment with a longer lifespan.

Restraints

  • Environmental rules are very strict.

Opportunity:

  • Demand for high-efficiency CUI and SOI coatings is on the rise.

Challenge:

  • Coating process high cost.

  • Substitutes are becoming more popular on the market.

Impact of Covid-19:

The COVID-19 outbreak has an influence on the CUI & SOI coatings market's end-use industries all over the world. Due to social distancing conventions, the influence can be seen in the economy, with lockdowns and suspensions of production operations. In the face of the COVID-19 epidemic, several businesses have devised short-term solutions to keep their operations going. The businesses began selling their wares through online channels that allowed for contactless delivery. Companies decreased their workforce by 50%, with the majority of employees working from home. The pandemic had disrupted paints and coatings supply chains, as well as dynamic demand patterns, which had a significant impact on raw material prices. The worldwide CUI and SOI coating market was further impacted by crude oil price volatility and its impact on global feedstock pricing.

Because it is primarily dependent on the oil & gas, petrochemical, maritime, and energy & power industries, the CUI & SOI coatings industry has to deal with the issue. Because of the economic downturn, governments have significantly decreased protective coating material tenders.

Key players:

Hempel A/S, Akzo Nobel N.V., The Sherwin-Williams Company, PPG Industries Inc, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd, RPM International Inc and Jotun A/S, and other players.

Market Segmentation:

By Type

  • Epoxy

  • Acrylic

  • Silicone

  • Others

By End-Use Industries

  • Marine

  • Oil & gas, and petrochemical

  • Energy & Power

  • Others 

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

Regional Analysis:

Between 2022 and 2027, the Asia Pacific CUI & SOI coatings market is expected to grow at a faster rate in terms of value. The region's growth can be attributed to the expanding oil & gas, petrochemical, marine, and energy & power industries. Asia Pacific is an attractive market for CUI and SOI coatings manufacturers due to the region's strong economic expansion.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 1.5 Billion
Market Size by 2028 US$ 2.13 Billion
CAGR CAGR of 4.5% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Epoxy, Acrylic, Silicone, Others)
• By end-use industries (Marine, Oil & gas, and petrochemical, Energy & Power, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Hempel A/S, Akzo Nobel N.V., The Sherwin-Williams Company, PPG Industries Inc, Nippon Paint Co. Ltd., Kansai Paint Co. Ltd, RPM International Inc and Jotun A/S, and other players.
DRIVERS • The demand for efficient processes is growing.
• Equipment with a longer lifespan.
Restraints • Environmental rules are very strict.


Frequently Asked Questions (FAQ) :

Ans: Manufacturers, Consultant, aftermarket players, association, Research institute, private and universities libraries, suppliers and distributors of the product.

Ans: Hempel A/S (Denmark), Akzo Nobel N.V. (Netherlands), The Sherwin-Williams Company (US), PPG Industries, Inc., (US), Nippon Paint Co., Ltd. (Japan), Kansai Paint Co., Ltd (Japan), RPM International Inc (US) and Jotun A/S (Norway) are the major key players of Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market.

 

Ans: The COVID-19 outbreak has an influence on the CUI & SOI coatings market's end-use industries all over the world. Due to social distancing conventions, the influence can be seen in the economy, with lockdowns and suspensions of production operations. In the face of the COVID-19 epidemic, several businesses have devised short-term solutions to keep their operations going. The businesses began selling their wares through online channels that allowed for contactless delivery. Companies decreased their workforce by 50%, with the majority of employees working from home.

Ans: The demand for efficient processes is growing and Equipment with a longer lifespan are the drivers forCorrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market.

Ans: Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size was valued at USD1.5 billion in 2021, and expected to reach USD 2.13 billion by 2028, and grow at a CAGR of 4.5 % over the forecast period 2022-2028.

 


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Segment, By Type

8.1 Epoxy

8.2 Acrylic

8.3 Silicone

8.4 Others

 

9. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Segment, By end-use industries

9.1 Marine

9.2 Oil & gas, and petrochemical

9.3 Energy & Power

9.4 Others 

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

 

11. Company Profile

11.1 Hempel A/S

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Akzo Nobel N.V.

11.3 The Sherwin-Williams Company

11.4 PPG Industries, Inc.,

11.5 Nippon Paint Co., Ltd.

11.6 Kansai Paint Co., Ltd

11.7 RPM International Inc

11.8 Jotun A/S

 

12.Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Segment, By Type

8.1 Epoxy

8.2 Acrylic

8.3 Silicone

8.4 Others

 

9. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Segment, By end-use industries

9.1 Marine

9.2 Oil & gas, and petrochemical

9.3 Energy & Power

9.4 Others 

 

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

 

 

11. Company Profile

11.1 Hempel A/S

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Akzo Nobel N.V.

11.3 The Sherwin-Williams Company

11.4 PPG Industries, Inc.,

11.5 Nippon Paint Co., Ltd.

11.6 Kansai Paint Co., Ltd

11.7 RPM International Inc

11.8 Jotun A/S

 

12.Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share analysis

12.3 Recent Developments

 

13. Conclusion

 

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Secondary Research

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