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Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Report Scope & Overview:

The 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.

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

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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.

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.

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 Segmentation Analysis

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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

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.

Akzo Nobel N.V-Company Financial Analysis

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market Report Scope:
Report Attributes Details
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
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
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

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

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 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

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

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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