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FRP Grating Market | Covid-19 Impact Analysis
Covid-19 has impacted the market dynamics, competition, and global supply chains. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
This report, from Stratview Research, studies the global FRP grating market over the period 2017 to 2022. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities in the market.
The Global FRP Grating Market: Highlights
There are healthy opportunities existing in the entire ecosystem of the FRP grating market which is projected to grow at a healthy CAGR of 5.1% during the forecast period of 2017 to 2022. An excellent corrosion and 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 of FRP grating in most of the end-use industries. FRP grating is gaining the market traction in most of the major end-use industries by replacing the traditional metal gratings.
The global FRP grating market is segmented based on the process type as molded grating and pultruded grating. Molded grating is expected to remain the most dominant segment of the FRP grating market during the forecast period, whereas pultruded grating is likely to witness higher growth during the same period, driven by its higher strength and stiffness. All major players are manufacturing FRP gratings utilizing the pultrusion process and are likely to stick with the technology in the foreseeable future as well. Pultruded gratings are used in all major industries including industrial, oil & gas, pulp & paper, and mining.
Based on the resin type, the global FRP grating market is segmented as polyester grating, vinylester grating, phenolic grating, and other gratings. Polyester is projected to remain the most dominant resin type in the global FRP grating market during the forecast period. The resin type is also likely to witness the highest growth over the next five years, driven by its low cost, excellent chemical resistance, and good mechanical performance. Phenolic resin is also experiencing a healthy growth in the market, especially in the oil & gas industry.
Based on the end-use industry, industrial sector is likely to remain the largest segment of the global FRP grating market during the forecast period. The segment is also likely to witness the highest growth during the same period, driven by higher preference of FRP grating over metal ones. The oil & gas segment is also expected to register a healthy growth during the same period, driven by rebounding oil & gas exploration activities and higher usage of FRP gratings.
Asia-Pacific is expected to remain the most dominant market for FRP gratings 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.
The supply chain of this market comprises raw material suppliers, FRP grating manufacturers, distributors, oil & gas exploration companies, industrial buyers, etc. The global FRP grating market is highly fragmented with the presence of more than 100 global and regional players. Most of the players have presence in other pultruded applications as well, such as rebars, structural profiles, and ladder rails.
Strongwell Corporation, Suzhou Grating Co., Ltd., Fibergrate Composite Structures Ltd., Bedford Reinforced Plastics, Inc., ChinaGrate Composite Structures (Nantong) Ltd., Valmont Industries, Inc., Meiser GmbH, and Grand Fiberglass Co., Ltd. are the major players in the global FRP grating market. Regional expansion, new product development, and an advancement in the pultrusion technology are the key strategies adopted by major players to gain a competitive edge in the market throughout the globe.
This report offers high-quality insights and is the outcome of 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 book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We usually conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
The FRP grating market is segmented into the following categories.
Global FRP Grating Market by Process Type:
Global FRP Grating Market by Resin Type:
Global FRP Grating Market by Application Type:
Global FRP Grating Market by End-Use Industry Type:
Global FRP Grating Market by Region:
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at [email protected]
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