Key Challenges and Growth Strategies in the FRP Grating MarketPosted by Stephen Lobo on May 29th, 2023 Fiber Reinforced Plastic (FRP) grating has emerged as a versatile and high-performance alternative to traditional materials in various industries. FRP grating, also known as fiberglass grating, offers a range of benefits such as superior strength, durability, corrosion resistance, and low maintenance. As a result, the global FRP grating market has experienced significant growth in recent years. The report "FRP Grating Market by Resin Type (Polyester, Vinyl Ester, Phenolic), Process (Molded, Pultruded), Application (Stair Treads, Walkways, Platforms), End-use Industry (Industrial, Water Management, Cooling Towers, Marine), and Region - Global Forecast to 2021", The FRP grating market is projected to reach USD 574.2 Million by upcoming years, at a CAGR of 4.24%. Browse 71 market data tables and 69 figures spread through 149 pages and in-depth TOC on "FRP Grating Market by Resin Type (Polyester, Vinyl Ester, Phenolic), Process (Molded, Pultruded), Application (Stair Treads, Walkways, Platforms), End-use Industry (Industrial, Water Management, Cooling Towers, Marine), and Region - Global Forecast. FRP Grating Market Key Players
Key players operational in the FRP grating market are Strongwell Corporation (U.S.), Techno Composites Domine GmbH (U.K.), McNichols Company (U.S.), Meiser GmbH (U.K.), Bedford Reinforced Plastics (U.S.), and AGC MAtex Co. Ltd. (Japan). Strongwell Corporation (U.S.) is one of the key manufacturers of FRP gratings and offers a wide range of GRP, FRP, and heavy duty FRP gratings. The company has successfully completed projects to install FRP gratings in various industries with the required specifications. Strongwell Corporation (U.S.) focuses on differentiated business models, proprietary technologies, and competitive cost structures to gain a competitive edge. In December 2015, the company installed DURAGRID HD-4000 2.5 grating panels as trench covers in the Utah State University (USU) Electric Vehicle and Roadway (EVR) research facility in Logan, Utah. Fibrolux GmbH (Germany) is also a major manufacturer of FRP gratings. The company completed the modernization of its Kaliningrad wastewater treatment plant in 2014. Fibrolux replaced the existing dilapidated steel components with FRP during the restorations. The project comprised of manufacturing, supply, and installation of approximately 400 meters of FRP grating walkways, railings, and platforms. This market research report delves into the factors driving this expansion and explores the diverse applications and future prospects of FRP grating. Rapid Growth Drivers:
Applications of FRP Grating:
Based on resin type, the polyester segment of the FRP grating market is expected to witness the highest growth during the forecast period Based on resin type, the polyester segment of the FRP grating market is expected to witness the highest growth during the forecast period, owing to the increasing use of polyester resins in the marine, industrial, and water management end-use industries. Polyester resins have high strength and resistance to corrosion and a range of chemicals. The industrial segment is estimated to be the largest segment of the FRP grating market FRP grating are increasingly being used in various industries, due to the low maintenance cost of these grating and their resistance to corrosion, water, and a range of chemicals. FRP grating are used in the oil & gas, paper & pulp, pharmaceutical, and food & beverage industries. Request for New Version: https://www.marketsandmarkets.com/RequestNewVersion.asp?id=196188355 Asia-Pacific is expected to be the fastest-growing market for FRP grating during the forecast period Asia-Pacific is expected to be the fastest-growing market for FRP grating, due to the presence of increasing industrialization in several countries in the region. China, India, and Japan are the major consumers of FRP grating in the region. The increasing use of FRP grating in various applications to ensure long-term durability and increase the service life of infrastructure is expected to drive the growth of the market in Asia-Pacific. Future Outlook: The future of the FRP grating market looks promising, driven by increasing investments in infrastructure development, industrial expansion, and environmental initiatives. The adoption of FRP grating is likely to surge across emerging economies, where the demand for cost-effective, long-lasting, and low-maintenance materials is high. Additionally, ongoing advancements in manufacturing technologies are expected to enhance the performance characteristics of FRP grating, further expanding its application scope. Like it? Share it!More by this author |