Corrosion Under Insulation and Spray-on Insulation Coatings Market: Global Industry Forecast (2022-2029) by Type, End-Use Industries and Region

Corrosion Under Insulation and Spray-on Insulation Coatings Market size was valued at US$ 1.91 Bn. in 2021 and it is expected to grow at a 4.8% from 2022 to 2029, reaching nearly US$ 2.78 Bn.
Corrosion Under Insulation and Spray-on Insulation Coatings Market Overview:
CUI refers to any sort of corrosion that develops on piping as a result of moisture within or underneath the insulation system. That insulation can be used for thermal or acoustic purposes, and it is notably common in the oil and gas industry, where steel piping is widely used, and because facilities are often located in CUI-prone areas. These include maritime and offshore locations, as well as hot/humid and heavy rainfall regions. Additionally, operational circumstances may cause temperature cycles, resulting in a buildup of water inside the system and temperature zones where CUI is worsened.

Spray-on Insulation (SOI) Coatings regulate humidity levels by providing a full air seal for both residential and commercial structures, preventing rust, corrosion, mold, mildew, and water damage if left untreated. CUI and SOI coatings are used to protect metal and other components against deterioration caused by moisture, oxidation, and chemical and saltwater exposure.

The global CUI & SOI coatings market is increasing as a result of end-use sectors such as marine, oil & gas, petrochemical, energy & power, and others. As a result, the rapid increase of these industries is expected to contribute to the growth of the CUI & SOI coatings market.

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Corrosion Under Insulation and Spray-on Insulation Coatings Market Dynamics:
Rising demand for Polysiloxane Based Spray-on Insulative Coating in petroleum refineries and chemical industries
Insulation is required in petroleum refineries and chemical industries. The shiny sheet metal jacketing of insulated pipes and containers is perhaps second only to massive storage tanks as an iconic picture of a typical petroleum refinery, yet it conveys two misleading messages. The first is that the three-step insulation system of corrosion-resistant coating, pieced-together insulation, and pieced-together shiny metal jacketing is the best way to insulate elevated temperature equipment; the second is that the shiny metal jacketing does not allow water ingress, and the insulation beneath does not absorb and hold water, and the CUI coating beneath the insulation resists corrosion successfully.

In comparison to organic polymer chemistries, polysiloxane is inorganic polymer chemistry with superior features such as temperature tolerance and UV resistance. New research and development efforts in the ambient cure and third-generation polysiloxane technology alleviate current post-cure polysiloxane coating concerns such as poor film hardness, anti-corrosion characteristics, and weathering resistance before post-curing >300 °F. Recent research and development efforts in polysiloxane matrix spray-on insulation have resulted in ultra-high-build and higher temperature capabilities, beyond the constraints of conventional spray-on insulation materials. Due to this characteristic, the demand is increasing and eventually driving the market growth.

 
Growing need for increased efficiency and prolonged equipment life
Corrosion protection coatings, such as CUI and SOI coating, are used in the oil and gas and industrial sectors to safeguard pipelines, equipment, reactors, and storage tanks. These industries use toxic and corrosive chemicals, as well as operations that require high temperatures and heat. Additionally, this equipment is subjected to a variety of meteorological conditions, which impact the reactor surface. In certain regions, the adoption of heavy-duty corrosion protective coatings may avoid or decrease the impact on the reactor surfaces. As a result, the equipment's operating life is prolonged. Because of the competitive market, industries are reducing expenses. The use of heavy-duty corrosion protective coatings for insulation reduces operational expenses.

 
Rising usage of vapor phase corrosion inhibitors (VCI) method for prevention of CUI
Vapor phase corrosion inhibitors (VCI) are an alternative corrosion control approach that is both effective and affordable. A vapor phase corrosion inhibitor is a volatile chemical that creates a stable link at the metal interface, preventing corrosive species from penetrating metal surfaces. VCI provides an alternate method of safeguarding stored equipment, facilities, and their contents. These inhibitors are simple to use, adaptable and may be used to protect a wide range of metals in several sectors. These materials have significant surface adsorption tendencies, as well as the capacity to create a relatively strong and stable binding with the metal surface.

VCI also has good wetting qualities and creates a clean, dry, hydrophobic coating on the surface that is stable up to 176°C. Adsorption of the inhibitor onto the metal surface creates a protective hydrophobic inhibitor layer that considerably slows corrosion. In comparison to conventional corrosion prevention strategies such as gas blanketing and dehumidification, vapor phase corrosion inhibitors (VpCI) provide significantly superior corrosion control at a lower cost and with a far lower dose rate.

 
Rigorous environmental requirements
According to the EU regulations, any product used for concrete repair Regulations was designed to limit volatile organic compound (VOC) emissions from coatings. LEED GreenSeal GC-03 2nd Ed., 1997 and REACH both stipulate the VOC content of CUI and SOI coatings in grams per liter (g/l). These laws have compelled coating producers to adhere to the guidelines by lowering VOC levels. Therefore, producers have to ensure the quality and functioning of these regulated items.

The influence of these restrictions on the pricing of CUI & SOI coating products was apparent since the regulations permitted a shift in the technology employed in the manufacturing of CUI & SOI coatings. The technology change necessitates a significant expenditure owing to the change in the manufacturing process, which influences the performance of CUI and SOI coatings. As a result, the rules offer a short-term restraint on market growth.

 
Rising demand for high-efficiency & high-performance CUI & SOI coatings across the end-use industries
Changes in operating circumstances in end-use sectors such as oil and gas and marine have created a need for CUI and SOI coatings with improved characteristics, better performance, and efficiency. For example, the growing usage of enhanced oil recovery (EOR) technologies in the oil and gas industry have created a demand for coatings that can withstand high temperatures and pressure while also providing long-term structural protection. Demand for high-solid CUI coatings from the oil and gas, maritime, and infrastructure industries has also stimulated R&D activity for the development of these coatings, which are ideal for use in severe environments.

This is a simple driver with the potential to become a long-term driver. As a result, the increased demand for high-efficiency CUI & SOI coatings is likely to create considerable possibilities for market growth.

 
Increasing demand for the Alternatives
Anti-corrosion coatings and non-corrosive pipe materials are utilized in a variety of end-user sectors to ensure corrosion resistance. To compete with these materials, coating makers must provide products with high thermal insulation and corrosion resistance. The existing CUI and SOI are more expensive. The technology utilized for coating application is also costly, raising the overall cost of the coating process. The development of a low-cost CUI & SOI coating will aid in lowering total coating costs and increasing market appeal. As a result, the market has a barrier to producing cost-effective coatings.
Corrosion Under Insulation and Spray-on Insulation Coatings Market Segment Analysis:
By Type, the Epoxy segment held the largest market share and dominated the market in 2021. This segment is expected to maintain its dominance at the end of the forecast period. This segment’s dominance is mostly due to the superior CUI protection, water resistance, and widespread use of epoxy-based CUI coatings. However, epoxy-based CUI & SOI coatings can be combined with other kinds in multi-component coatings attracting the industries and end-user and driving segment growth.



The industry is always looking for a better way of corrosion prevention, and four types of coatings have recently risen in terms of CUI mitigation in laboratory tests and real-world performance and the demand is increasing significantly. They are high-temperature epoxy phenolics, high-temperature epoxies, ultra-high solids novolac amine epoxies, and inert multipolymeric matrix (IMM) coatings. Each has a common ingredient – micaceous iron oxide (MIO) – that creates an interlocked shield of overlapping plates, providing a hard but flexible level of protection in service and during transport.

By End-use Industries, the Oil & Gas, and the Petrochemical segment is expected to hold the largest market share at the end of the forecast period. This is because this segment has a high volume of CUI & SOI coatings used in the industries in 2021 and is expected to have the same at the end of the forecast period. The equipment utilized in the oil and gas sector is subjected to several stresses regularly. The industry's activities include directing oil and gas to industries and drilling in the harsh environment of the ocean. The constant interaction with harsh and abrasive forces, both inside and outside, necessitates that the working equipment can withstand the rigors while still performing efficiently.

The coating material is essential to avoid degradation due to the rigorous treatment, pipes, and equipment required. Inadequate protection would then result in rapidly degraded equipment, which would hamper operations, resulting in lost revenue and potential mishaps that can be harmful to the environment and surrounding populations, as well as potentially damaging a company's reputation, which will cost thousands of dollars to repair. Thus the requirements for Coating are increasing rapidly.



CUI, which is caused by water penetration and involves the corrosion of vessels or pipes beneath insulation, is insidious because it can go unnoticed until the insulation is removed for examination or leaks occur. Water penetration can occur as a result of a variety of factors such as monsoons, rain, flooding, washdowns, and sprinkler systems, as well as exposure to steam, humidity, or repeated condensation and evaporation of atmospheric moisture.

Fighting CUI and major corrosion has been an uphill battle and a major cost in the operation of oil and gas facilities, according to NACE International's IMPACT (International Measures of Prevention, Application, and Economics of Corrosion Technology) study, from upstream wells, risers, drilling rigs, or offshore platforms, to midstream pipelines, storage, and liquefied natural gas (LNG) terminals, to downstream refineries.

Fortunately, even where conventional coatings have enabled CUI and corrosion to develop, a novel technique can stop the corrosion and significantly prolong the life of facilities and equipment in oil and gas sector applications. As a result, the demand for CUI and SOI coatings is rising exponentially.
Corrosion Under Insulation and Spray-on Insulation Coatings Market Regional Insights:
The Asia-Pacific market dominated the CUI & SOI Coatings market in 2021. The APAC CUI & SOI coatings market is expected to grow at the fastest rate in terms of volume. This growth is attributed to the increasing oil and gas, petrochemical, marine, and hydroelectric generator sectors. The growth of these industries drives demand for CUI & SOI coatings. Because of the region's rapid economic growth, Asia Pacific is a lucrative market for CUI and SOI coatings manufacturers.

India's oil & gas industry would see tremendous growth at the end of the forecast period, due to the increase in petroleum refining capacity coupled with an increasing number of refineries. Adoption of digital technology to improve operations and manufacturing costs in the business increases revenue, and eventually the demand for coatings increases, driving market revenue.



North America is expected to grow rapidly followed by Europe during the forecast period. This growth is attributed to the presence of the major companies in the region. In addition, the increasing maritime sector in North America has increased the need for CUI & SOI coatings with improved features and efficacy which would drive the market growth during the forecast period.
Corrosion Under Insulation and Spray-on Insulation Coatings Market Scope: Inquire before buying



Corrosion Under Insulation and Spray-on Insulation Coatings Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 1.91 Bn.


Forecast Period 2022 to 2029 CAGR:
4.8%
Market Size in 2029:
US $ 2.78 Bn.


 Segments Covered:
by Type
• Epoxy
• Acrylic
• Silicone
• Multi-Polymeric Matrix
• Others (multi-polymeric matrix, zinc silicate, oxide chemicals, titanium modified inorganic copolymer, and water-based CUI coatings)


by End-Use Industries
• Marine
• Oil & Gas, And Petrochemical
• Energy & Power
• Building & Construction
• Food
• Pharmaceuticals
• Automotive



Corrosion Under Insulation and Spray-on Insulation Coatings Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Corrosion Under Insulation and Spray-on Insulation Coatings Market Key Players
• Akzo Nobel N.V.
• PPG Industries, Inc.,
• Jotun A/S (Norway),
• The Sherwin-Williams Company
• Hempel A/S
• Kansai Paint Co., Ltd
• Nippon Paint Co., Ltd.
• RPM International Inc.
• Axalta Coating Systems
• BASF Coatings
• Asian Paints Limited.
• Kansai Paint Co. Ltd.
• Jotun
• Presserv Group
• Belzona
• APLIKA CONTROL
• PERMA-PIPE
• Presserv Group
• Sharpshell
• Resimac
• Lincoln Industries
• Syneffex

FAQs:

1. Which is the potential market for the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings in terms of the region?
Ans. APAC is the potential market for Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings in terms of the region.

2. What are the opportunities for new market entrants?
Ans. Rising demand for high-efficiency & high-performance CUI & SOI coatings across the end-use industries.

3. What is expected to drive the growth of the Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coating market in the forecast period?
Ans. Rising demand for Polysiloxane Based Spray-on Insulative Coating in petroleum refineries and chemical industries.

4. What is the projected market size & growth rate of the Corrosion Under Insulation and Spray-on Insulation Coatings Market?
Ans. Corrosion Under Insulation and Spray-on Insulation Coatings Market size was valued at US$ 1.91 Bn. in 2021 and the total Corrosion Under Insulation (CUI) & Spray-on Insulation (SOI) Coatings revenue is expected to grow at 4.8% from 2022 to 2029, reaching nearly US$ 2.78 Bn.

5. What segments are covered in the Corrosion Under Insulation and Spray-on Insulation Coatings Market report?
Ans. The segments covered are Type, End-Use Industries and, Region.