Stratview Research announces the launch of a new research report on Global FRP Grating Market by Process Type (Molded Grating and Pultruded Grating), by Resin Type (Polyester Grating, Vinylester Grating, Phenolic Grating, and Other Gratings), by Application Type (Stair Treads, Walkways, Platforms, and Others), by End-Use Industry Type (Industrial, Transportation, Oil & Gas, Water Management, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2017-2022.
This 250-pages market report, from Stratview Research, studies the global FRP grating market over the period 2011 to 2022. The report provides detailed insights on the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Global Fiber Reinforced Plastic (FRP) Grating Market: Highlights
As per Stratview Research, the global FRP grating market offers healthy growth and is likely to grow at 5.1% CAGR during the forecast period of 2017 to 2022, which offers an opportunity to the industry players to align themselves with the market growth. FRP grating has usage in a wide array of end-use industries, such as chemical plants, food & beverage processing units, utility plants, water treatment facilities, oil & gas industry, pulp & paper plants, transportation industry, and recreational areas. Most of these end-use industries are highly cost-sensitive, where cost of the final product plays a very crucial role in the selection of materials.
There are several factors bolstering the growth of the global FRP grating market. The author of the report cited an excellent corrosion and fatigue resistance, high strength and stiffness, high durability, low life-cycle cost, low maintenance cost, and low weight as the major factors driving the demand of FRP grating in most of the end-use industries.
Based on the process type, 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.
In terms of application type, walkway is expected to remain the most dominant application over the next five years. The application type is also likely to witness the highest growth for FRP gratings over the next five years.
The research findings suggest that 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.
Based on 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.
In terms of region, 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 global FRP grating market is highly fragmented with the presence of more than 100 global and regional players. 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 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 on 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:
Market structure: Overview, industry life cycle analysis, supply chain analysis.
Market environment analysis: Growth drivers and constraints, Porter's five forces analysis, SWOT analysis.
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