Home Press Releases Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Industry worth $2.3 billion by 2027

Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Industry worth $2.3 billion by 2027

by Press Room


 


(EMAILWIRE.COM, February 27, 2023 ) The global Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market  is projected to grow from USD 1.9 billion in 2022 to USD 2.3 billion by 2027, at a CAGR of 4.7%, between 2022 and 2027. CUI & SOI coatings are used for protecting metal, and other components from degradation caused by moisture, oxidation, and exposure to chemicals and saltwater. In this report, CUI & SOI coatings cover acrylic, epoxy, and silicone CUI coatings. The demand for CUI & SOI coatings is increasing in the marine; oil & gas, and petrochemical; energy & power, and other industries. These CUI & SOI coatings are applied to substrates exposed to highly corrosive environments.

Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=250047061

Based on type, the CUI & SOI coatings market is segmented into epoxy, acrylic, silicone, and others. Epoxy is a major type of CUI coating, which accounted for the largest share. This is mainly attributed to excellent CUI coating, water resistance, and widespread applications of epoxy-based coatings. In addition, epoxy-based CUI coatings can be used in multi-component coatings with other types.

Based on the end-use industry, the CUI & SOI coatings market is segmented into the marine; oil & gas, and petrochemical; energy & power; and others. The rapid growth of these industries is expected to contribute to the growth of the CUI & SOI coatings market. The oil & gas, and petrochemical industry dominated the CUI & SOI coatings market in 2021. This dominance is due to the high volume of CUI & SOI coatings used in this industry. The development of oil fields in the South China Sea and investments in oil & gas infrastructure in China, Japan, Indonesia, India, and other countries are projected to increase the demand for CUI & SOI coatings. The war between Ukraine and Russia is estimated to prove to be a short-term restraint for the CUI & SOI coatings market.

Don’t miss out on business opportunities in Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=250047061   

Browse In-Depth TOC On “Corrosion Under Insulation (CUI) & Spray-On Insulation (SOI) Coatings Market”

270 – Market Data Tables

50 – Figures

207 – Pages

The CUI & SOI coatings market in APAC is projected to register the highest CAGR, in terms of value, between 2022 and 2027. This growth is attributed to the growing petrochemical, oil & gas, marine, energy & power industries. The high growth of emerging economies in the region makes APAC an attractive market for CUI & SOI coatings manufacturers. In addition, the growing industrial activities, investments, and labor costs in these countries are the main drivers for the CUI & SOI coatings market.

The CUI & SOI coatings market has various small, medium, and large players. Some of the major market players include 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), and RPM International Inc (US) among others, have framed their strategies to penetrate and create bases in these emerging markets. Moreover, major companies are focusing on strengthening their R&D facilities to provide efficient and sustainable products. These products are manufactured adhering to regulations implemented by associations and governments. All such developments are expected to lead to the sustainable development of players in the CUI & SOI coatings market over the next five years.

Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=250047061

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.



Source link

You may also like

About Us

Arab Africana™ publishes and aggregates business, socio-economic, Tech and industrial news on Arab countries in Africa.

 

We provide press release distribution to media in Africa including Arab countries, the Arab world and the GCC/MENA regions. To submit a press release for distribution, contact us today.

Trending Now

Newsletter

    ArabAfricana logo-white

    Arab Africana is part of GroupWeb Media Network. ©  2024 GroupWeb Media LLC