The factor such as increasing demand for non-corrosive and high-performance grating from major industries and increase in use of FRP grating in various industries are likely to contribute to the healthy growth of the market.
New York, July, 2021: Axiom Market Research & Consulting™ added a report on global FRP grating market which includes study on resin type, process, application, and end user across various countries of key regions across the globe. The global FRP grating market was projected to grow at a CAGR of 5.12% for the forecast period 2021 to 2027. The global market is estimated and forecasted in terms of revenue (USD Million) generated by the FRP grating market.
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The report analyses the global FRP gratings industry based on resin type, process, application, end user and geography. Various resin type covered in the global FRP gratings are polyester, vinyl ester, phenolics and other. By process, the market is segmented into molded FRP grating and pultruded FRP grating. Based on application, the market is segmented into the stair treads, walkways, platforms, flooring and other. Based on end user, the market is segmented into industrial, water management, cooling tower, oil and gas, marine and other. The global FRP gratings market is studied across various key countries of regions such as North America, Europe, Asia Pacific and Rest of the World.
The key competitors of this market include Strongwell Corporation, Techno Composites Domine GmbH, Meiser GmbH, Bedford Reinforced Plastics, AGC Matex Co. Ltd, Liberty Pultrusions, Delta Composites LLC, Mcnichols Co., National Grating, Lionweld Kennedy, Kemrock Industries & Exports Ltd., Locker Group, Eurograte Fiberglass Grating, Ferrotech International FZE, Suzhou Grating Co. Ltd. (iGrid), Fibergrate Composite Structures Ltd., Exel Composites, Arham Hi-Tech Design and Solution Pvt. Ltd., Indiana Group, Diakure Co. Ltd., Jiangyin Runlin Molding New Materials Co. Ltd., Fibrolux GmbH, Amico Seasafe Inc., Flexxcon Bv and Webforge among others.
FRP Gratings Market Regional Trends
North America is expected to witness the fastest growth in upcoming years owing to hold significant share in terms of value. The US and Canada are expected to dominate the market in the coming years. The key factors that attributed to the market growth are rising economic development, rising government initiatives for expanding industrial sectors.
FRP Gratings Market Segmental Highlights
- The polyester resin is expected to dominate the FRP gratings market during the forecast period of 2021 to 2027. The growth of this segment is rapidly improving owing to high use of polyester resin and various applications in making of decorative objects like costume jewellery, paperweights and encapsulation of flowers, coins or biological specimens.
- In 2020, Pultruded segment is accounted for the major market share. The pultrusion is a continuous process for manufacture of fiber-reinforced plastics with constant cross sections. The pultruded FRP gratings have different properties such as high stiffness, corrosion resistance and superior strength than the molded FRP gratings.
- Walkaway application segment is expected to observe lucrative growth opportunities in the coming years. Key factors attributed to this growth are rising function purposes of FRP gratings such as construction, architecture, contract companies as owing to easy installations, require low maintenance and light weight properties.
- Water management industries end user segment dominated the market in 2020. Major factors such as high corrosion resistance, high strengths, impact resistance and light weight along with wide applications in industrial sector, cooling tower and marine industry.
- North America dominated FRP gratings market in 2020 and is expected to witness the fastest growth in upcoming years.
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Research Objectives of FRP Gratings Market Report:
- Analyzing the outlook of the market with the recent trends and Porter’s five forces analysis
- Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period
- Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects
- Country-level analysis, integrating the demand and supply forces that are influencing the growth of the FRP Gratings Market
- Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years
- Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players
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Axiom Market Research & Consulting
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Wilmington DE 19804
U.S.:- + 1 (845) 875-9786
U.K.:- + 44 (0) 20 3286 9707
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