Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global market for corrosion under insulation (CUI) and spray-on insulation (SOI) coatings is experiencing robust growth, fueled by the escalating demand for durable protective solutions across multiple industrial sectors. A comprehensive research publication added to an authoritative website provides insight into this market's current dynamics and forecasts its trajectory through to 2028.
The report reveals a standout growth rate in the Asia-Pacific region. Several factors contribute to the expansions, such as increased industrial infrastructure investments, burgeoning oil and gas activity, and advancements in insulation materials. Key insights from the in-depth analysis highlight the significance of CUI and SOI coatings in protecting critical assets from the persistent challenge of corrosion under insulation.
Analysts cite the rapid evolution of the market, referencing the spike in the consumption of oil and gas as a key driver. With heightened global energy demands and the subsequent development of pipeline infrastructure, the need for advanced protective coatings is emphasized. Industry trends point to the growing adoption of eco-friendly and sustainable coating solutions, reflecting the global shift towards environmental stewardship in industrial practices.
The report also identifies strategic partnerships and mergers as pivotal strategies employed by leading companies to consolidate their market positions and enhance their product portfolios. Innovations, such as waterborne basecoat systems, indicate substantial progress toward reducing the environmental impact of coatings, opening new avenues for market expansion.
Market Insights
- Projected growth from $1.96 billion in 2024 to $2.57 billion in 2028 at a CAGR of 7.1%.
- Technological advancements and digital inspections are expected to shape future market trends.
- Strategic industry collaborations solidify competitive positioning and enable comprehensive solution offerings.
- Asia-Pacific maintains the largest market share while demonstrating rapid growth.
This detailed market research document presents an array of data points and statistics, contributing to the body of knowledge facilitating decision-making for industry players. It charts the market landscape, provides profiles of major companies, and explores the economic factors influencing growth patterns.
The report underscores the criticality of corrosion under insulation (CUI) & spray-on insulation (SOI) coatings in safeguarding the longevity of industrial equipment. As organizations grapple with maintaining operational efficiency and sustainability, the insights garnered from this research serve as a valuable tool for optimizing strategic directions.
Regional Spotlight: Accelerated Growth in Asia-Pacific
The Asia-Pacific region is becoming a focal point for the CUI & SOI coatings market, with an upsurge in industrial activities driving demand. The report delves into the performances of various countries within the region, assessing the impact of local economic developments on market progress.
With such strategic knowledge at their disposal, stakeholders are positioned to leverage these insights to adapt and succeed in the ever-changing landscape of the corrosion under insulation (CUI) & spray-on insulation (SOI) coatings market.
A selection of companies mentioned in this report includes
- Akzo Nobel N.V.
- PPG Industries Inc.
- Jotun A/S
- The Sherwin-Williams Company
- Hempel A/S
- Kansai Paint Co. Ltd.
- Nippon Paint Co. Ltd.
- RPM International Inc.
- Mascorp LLC
- Syneffex Inc.
- Kaefer GmbH
- Belzona Inc.
- Resimac Ltd.
- Carboline Company
- International Paint Ltd.
- Rust-Oleum Corporation
- Induron Protective Coatings
- A&A Coatings
- Advanced Polymer Coatings Inc.
- Tnemec Company Inc.
- Axalta Coating Systems Ltd.
- H.B. Fuller Company
- BASF SE
- Ameron International Corporation
- Denso North America Inc.
- ENECON Corporation
- Flowcrete Group Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/a2ddpx
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