Report Scope & Overview:
Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Size was valued at USD 1.56 billion in 2022, and expected to reach USD 2.22 billion by 2030, and grow at a CAGR of 4.5% over the forecast period 2023-2030. 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.
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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.
The demand for efficient processes is growing
Equipment with a longer lifespan
Environmental rules are very strict
Demand for high-efficiency CUI and SOI coatings is on the rise
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.
By End-Use Industries
Oil & gas and petrochemical
Energy & Power
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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.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
Akzo Nobel N.V-Company Financial Analysis
|Market Size in 2022||US$ 1.56 Billion|
|Market Size by 2030||US$ 2.22 Billion|
|CAGR||CAGR of 4.5% From 2023 to 2030|
|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.|
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
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
22.214.171.124 United Kingdom
126.96.36.199 South Korea
188.8.131.52 Rest of the World
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
9. Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Segment, By end-use industries
9.2 Oil & gas, and petrochemical
9.3 Energy & Power
10. Regional Analysis
10.2 North America
10.3.6 The Netherlands
10.3.7 Rest of Europe
10.4.2 South Korea
10.4.6 Rest of Asia-Pacific
10.5 The Middle East & Africa
10.5.3 South Africa
10.6 Latin America
10.6.3 Rest of Latin America
11. Company Profile
11.1 Hempel A/S
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
12.1 Competitive Benchmark
12.2 Market Share analysis
12.3 Recent Developments
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