Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Market by Type (Epoxy, Acrylic, Silicone, and Others), End Use Industry (Oil and Gas, Energy & Power, Marine, and Others): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026665 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 2.0 billion mark in 2022 and is expected to hit US$ 2.8 billion by 2030, recording a CAGR of approximately 4.5% during the forecast period.

Rising demand for polysiloxane-based spray-on insulative coating in petroleum refineries and chemical industries

Insulation is necessary for petroleum refineries and chemical industries. Polysiloxane is inorganic polymer chemistry with enhanced features such as temperature tolerance and UV resistance to organic polymer chemistries. The research and development efforts in polysiloxane matrix spray-on insulation have resulted in ultra high-build and higher temperature capabilities beyond the limitations of conventional spray-on insulation materials. Due to the benefits of corrosion under insulation (CUI) & spray-on insulation (SOI) coatings, the demand is increasing and driving the market growth.

Within the report, the market is segmented into type, end use industry, and geography. By type, the market is further segmented into epoxy, acrylic, silicone, and others. Based on end use industry, the market is divided into oil and gas, energy & power, marine, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

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Rising usage of vapor phase corrosion inhibitors method for prevention of CUI

Corrosion under insulation (CUI) is corrosion that develops on piping due to moisture underneath or within the insulation system. That insulation can be utilized for thermal or acoustic purposes. It is notably popular in the oil and gas industry, extensively used steel piping, and facilities are often located in CUI-prone fields. These include offshore and maritime locations and hot or humid and heavy rainfall regions. Furthermore, operational circumstances may cause temperature cycles, resulting in a buildup of water inside the system and temperature zones where corrosion under insulation is worsened. Further, spray-on insulation (SOI) coatings regulate humidity levels by providing a complete air seal for residential and commercial structures, preventing corrosion, mold, rust, mildew, and water damage if left untreated. Corrosion under insulation & spray-on insulation coatings is used to protect metal and other components against deterioration caused by oxidation, moisture, and chemical and saltwater exposure.

Growing need for increased efficiency and prolonged equipment life is the major factor accelerating market growth

The equipment used in the oil and gas sector is subjected to several stresses regularly. The oil and gas industry activities include directing oil and gas to industries and drilling in the harsh environment of the ocean. The constant interaction with harsh forces, both outside and inside, necessitates that the working equipment can survive the rigors while still operating efficiently. Moreover, other end use industries, such as energy & power and marine, are also facing similar conditions where corrosion under insulation (CUI) & spray-on insulation (SOI) coatings are required.

Recent strategic developments in the corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market

The corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2022, Hempel launched Hempaprime CUI 275. Hempaprime CUI 275 is designed to increase productivity and improve corrosion protection at energy generation and oil & gas facilities with extremely short overcoating intervals and high-temperature resistance.
  • In February 2021, PPG Industries, Inc. launched its PPG HI-TEMP 1027 HD corrosion-under-insulation (CUI) coating.
  • In June 2021, Hempel A/S acquired Insulation Coatings Technology.

The corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Highland International, PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, and Hempel A/S are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Corrosion under insulation (CUI) & spray-on insulation (SOI) coatings -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • End users of corrosion under insulation (CUI) & spray-on insulation (SOI) coatings
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Epoxy
    • Acrylic
    • Silicone
    • Others
  • End Use Industry:
    • Oil and Gas
    • Energy & Power
    • Marine
    • Others
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Highland International
    • PPG Industries, Inc.
    • Akzo Nobel N.V.    
    • The Sherwin-Williams Company  
    • Hempel A/S   

The List of Companies
- Highland International
- PPG Industries, Inc.
- Akzo Nobel N.V.
- The Sherwin-Williams Company
- Hempel A/S

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