Market Insights
“The FRP grating market size was US$ 0.5 Billion in 2023 and is likely to grow at a decent CAGR of 4.9 % in the long run to reach US$ 0.7 Billion in 2030.”
Market Dynamics
Introduction
FRP gratings are composite materials made of a combination of resin and fiberglass. These gratings are corrosion-resistant and lightweight in comparison with other traditional materials, such as steel and aluminum. With their high strength-to-weight ratio, durability, and resistance to many environmental and chemical factors, FRP gratings currently find enormous applications in industries related to construction, marine activities, chemical processing, oil & gas, and wastewater treatment. Excellent fatigue resistance, high strength and stiffness, high durability, low life-cycle cost, low maintenance cost, and low weight are the major factors driving the demand for FRP grating in most end-use industries.
The FRP grating market is projected to grow at a rapid rate, driven by evolving material science, infrastructural developments, and a trend toward sustainable construction practices. With industries moving toward durable, cost-effective, and green solutions, the demand for FRP gratings will rapidly increase on a global scale. FRP grating is gaining market traction in most of the major end-use industries by replacing traditional metal grating.
Segment Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Process-Type Analysis
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Molded Grating and Pultruded Grating
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Molded grating is expected to remain highly produced, and the pultruded grating may have a high growth rate.
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Resin-Type Analysis
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Polyester Grating, Vinyl ester Grating, Phenolic Grating, and Other Gratings
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Polyester is expected to remain the dominant and have the highest growth rate.
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End-Use Industry Analysis
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Industrial, Transportation, Oil & Gas, Water Management, and Others
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Industrial is expected to remain the largest and the highest-growing end-use industry.
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Region Analysis
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North America, Europe, Asia-Pacific, and The Rest of the World
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Asia-Pacific is expected to remain the biggest market for the FRP grating.
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By Process Type
“Molded grating is expected to remain the widely used process for FRP grating during the forecast period, whereas pultruded grating is likely to witness higher growth during the same period.”
- The global FRP grating market is segmented based on the process type into molded grating and pultruded grating.
- Molded grating is mainly driven by its properties like higher strength and stiffness.
- All major players are manufacturing FRP grating utilizing the pultrusion process and are likely to stick with the technology in the foreseeable future as well. Pultruded grating is used in all major industries including industrial, oil & gas, pulp & paper, and mining.
By Resin Type
“Polyester grating is expected to remain the most dominant and fastest-growing resin during the forecast period.”
- Based on the resin type, the global FRP grating market is segmented into polyester grating, vinyl ester grating, phenolic grating, and other gratings.
- The polyester resin is likely to witness the highest growth over the next six years, driven by its low cost, excellent chemical resistance, and good mechanical performance.
- Phenolic resin is also experiencing healthy growth in the market, especially in the oil & gas industry.
By End-Use Industry Type
“Based on the end-use industry, industrial is likely to remain the largest end-use industry of the FRP grating market during the forecast period.”
- The market is segmented into Industrial, Transportation, Oil & Gas, Water Management, and Others.
- The industrial is also likely to witness the highest growth during the same period, driven by a higher preference for FRP grating over metal ones. The oil & gas industry is also expected to register healthy growth during the same period, driven by rebounding oil & gas exploration activities and higher usage of FRP grating.
Regional Analysis
“Asia-Pacific is expected to remain the largest market for FRP grating during the forecast period.”
- China and India would remain the growth engines of the Asia-Pacific’s FRP grating market and are continuously creating a greater demand for FRP grating in industrial, oil & gas, and cooling tower applications.
- The region is also likely to witness the highest growth during the same period.
key Players
The market is fragmented with the presence of over 200 players across the region. Most of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the FRP grating market.
Here is the list of the Top Players (Based on Dominance)
- Bedford Reinforced Plastics
- Creative Composite Group(H&S Group)
- ChinaGrate Composite Structures (Nantong) Ltd.
- Exel Composites Oyj
- Fibergrates Composites Structures
- Fiberline Composites A/S
- McNICHOLS Corporation
- Meiser GmbH
- Strongwell Corporation
- Valmont Industries, Inc. (Webforge and Locker Group)
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at sales@stratviewresearch.com
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve.
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The global FRP grating market is segmented into the following categories.
FRP Grating Market, by Process Type
- Molded Grating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Pultruded Grating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
FRP Grating Market, by Resin Type
- Polyester Grating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Vinyl Ester Grating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Phenolic Grating (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Other Gratings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
FRP Grating Market, by Application Type
- Stair Treads (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Walkways (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Platforms (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Other (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
FRP Grating Market, by End-Use Industry Type
- Industrial (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Oil & Gas (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Water Management (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
FRP Grating Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s FRP grating market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Customization Option
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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