(MENAFN- P&S Intelligence) The CUI and SOI coatings market is estimated to generate USD 1,965.4 million in 2023, which is expected to increase to USD 2,731.8 million by, with a 5.0% CAGR, by 2030.

The progression in this industry is primarily because of the extensive industrialization, advancement in technologies, and strong economic development in both developing and developed nations.

As various sectors evolve or expand, the requirement for CUI and SOI coatings to defend old or new pieces of infrastructure will surge. Industrial development led to more funding for corrosion safety solutions, therefore, boosting the acceptance of these coatings.

Additionally, as industrialization increases, the effort to avoid damage from corrosion that occurs beneath the layer of insulation will rise. Various sectors now consider it essential to adopt active corrosion prevention approaches, to defend themselves against downtime, safety risks, and maintenance, all of which can be expensive.

Furthermore, strict rules as well as guidelines are being implemented to tackle corrosion-under-insulation, resulting in the necessary utilization of CUI and SOI coatings.

In addition, with constant R&D, companies have developed coatings with improved application effectiveness. Coatings that can be easily sprayed on equipment provide quicker action, suitability for complex systems & shapes, and reduced labor expenses.

The epoxy category, based on type, is the largest contributor to the CUI and SOI coatings market in 2023, with a 40% share, and it is further expected to remain the largest throughout this decade.

This is because epoxy-based coatings play a key role in defending industrial infrastructure and equipment from corrosion as well as insulating them against temperature changes. Moreover, this type of coating has arisen as a preferred substitute because of its high-quality advantages as well as overall high performance in extreme settings.

The APAC industry is growing at the fastest rate. The strong economic development and substantial infrastructure funding, coupled with the high awareness of the importance of corrosion safety & insulation, assist in this progression.

North America will progress at a significant rate during this decade. This is because of the strict government guidelines for environmental protection, as well as the extensive R&D to improve the CUI and SOI coatings technology.

With the growing industrialization rates and technological developments, the CUI and SOI coatings industry will continue to progress in the years to come.

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