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FRP Grating Market size worth over $605 million by 2027
- Published Date: May 24, 2021
According to a new research report by Global Market Insights Inc., the FRP Grating Market size is forecast to exceed USD 605 million by 2027 owing to the rapid adoption in various end-user industries due to its versatile properties such as cost-effectiveness, lightweight, durability, corrosion resistance, and fire resistance.
FRP grating is made up of fiberglass and resin combination. The addition of fibers to FRP helps reduce the overall weight and improves the mechanical strength and elastic modulus. FRP offers excellent acoustic and thermal insulation, is corrosion resistant, and does not get affected by the impact of sea wave, humid conditions, and storm winds/waters. The application of FRP grating is rapidly increasing across various industries such as pulp & paper, food & beverage, oil & gas, and mining, among others.
With rapid industrialization in emerging economies, such as China, India, and Japan, the demand for FRP grating is likely to propel in the coming years. Additionally, FRP grating is gaining popularity in many sectors including marine and wastewater treatment due to its lightweight and anti-corrosion properties and cost-effectiveness. The consumption of FRP grating is also expected to boom due to the increasing demand for sustainable products.
FRP grating consumes less energy and emits less greenhouse gas, therefore, it is largely adopted by various industries across the globe. Furthermore, surging construction activities in developing countries including China, Indonesia, India, and Brazil are expected to spur the demand for FRP grating. Additionally, initiatives by various authorities and governments to promote green and sustainable products and solutions are likely to boost the demand for the FRP grating market.
The molded grating segment is projected to grow at a CAGR of 4.5% during the forecast period. Molded grating is a non-conductive, corrosion-resistant material that costs less than pultruded grating. Additionally, molded grating is more flexible than pultruded grating, which is stiff in nature.
Pultruded gratings offer superior advantages including high strength, corrosion resistivity, electrical & thermal non-conductivity, dimensional stability, and light weight sections. Pultruded gratings are highly suitable for harsh industrial environments where traditional materials such as aluminum, steel, or wooden have failed to meet all of the above requirements.
Browse key industry insights spread across 315 pages with 253 market data tables & 12 figures & charts from the report, “FRP Grating Market Size, By Resin Type (Polyester, Vinyl Ester, Phenolic) By Process (Molded, Pultruded) By Application (Stair Treads, Walkways, Platforms) By End-user (Industrial, Marine, Waste & Water Treatment, Cooling Towers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021-2027” in detail along with the table of contents:
Increasing consumption of polyester gratings
The polyester segment dominated the global FRP grating market share and is projected to grow at a CAGR of 4.4% through 2027. Polyester offers excellent properties such as low material cost, room temperature cure, good chemical, electrical, and mechanical performance, excellent dimensional stability, ease of handling or processing, and low molding cost. Furthermore, vinyl ester is likely to grow significantly owing to its better handling/faster cure times typical of unsaturated polyester resins. They are commonly produced by reacting epoxy resin with acrylic or methacrylic acids. Additionally, they offer mechanical toughness and excellent corrosion resistance. Vinyl ester gratings are widely used for walkways and platforms.
Rising application of FRP grating for walkways
The walkways segment dominated the global market and is projected to grow at a CAGR of 4.6%. FRP walkways are insulating, acid-base corrosion resistant, and easy to install. They are installed in chemical plants, power plants, water treatment and oil platforms and other corrosion environments. Strong growth in oil & gas and water treatment industries is likely to boost the FRP grating market growth for walkways. Additionally, the development of smart airports coupled with the rise in demand for energy-efficient walkways is further projected to propel the consumption of FRP gratings.
Strong growth in industrial sectors in the emerging economies
The industrial segment is projected to reach around USD 200 million by 2027. FRP grating is widely used in industrial sectors such as pulp & paper, food & beverage, mining, oil & gas, etc. In the pulp & paper industry, FRP grating is used due to its reliability, strength, abrasion and corrosion resistance, low maintenance, affordability, and design flexibility. The waste & water treatment segment is projected to grow significantly in the upcoming years. FRP gratings are ideal solutions for water and wastewater treatment industries due to their excellent physical and chemical stability.
Asia Pacific to exhibit a steady growth during the forecast period
In 2020, the Asia Pacific FRP grating market held the largest share of around 36% and is projected to grow at a CAGR of 4.7% from 2021 to 2027 driven by growing investments in infrastructural development and rapid industrialization in emerging economies.
Rising applications of FRP grating in the industrial sectors are major factors driving the regional market. Furthermore, the North America FRP grating industry is expected to reach around 29% of the market share by 2027. The growing application of FRP gratings in marine and water treatment industries, especially in the U.S., is likely to boost the overall FRP grating market growth.
Some of the top players in the FRP grating industry include Fibergrate Composite Structures Ltd, Aeron Composite, Ferrotech International FZE, Bedford Reinforced Plastics, Creative Pultrusions, Delta Composites, LLC, AGC Matex Co. Ltd., Eurograte Fiberglass Grating, Fibrolux GmbH, National Grating, Sea Safe Inc, Exel Composites, Strongwell Corporation, and Webforge, among others.