FRP Grating Market: A practical green energy source
- FRP grating or Fiberglass Reinforced Plastic grating is a grating structure entailing a matrix of resin and fiberglass.
- FRP is regarded as a green, sustainable, and energy-efficient material. Unlike steel, FRP grating does not corrode. It is a suitable alternative in corrosive environments to reduce maintenance costs.
- Demand for FRP grating is expected to rise substantially in the next few years due to the superior characteristics of FRP such as chemical resistance, corrosion resistance, thermal stability and low lifecycle costs.
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Key Drivers and Restrains of FRP Grating Market
- Increase in global population calls for smart architecture, smart mobility, and smart energy solutions. FRP is anticipated to emerge as a high strength and lightweight alternative to steel and iron grating structures during the forecast period.
- Conventional wood and metallic gratings deteriorate rapidly in the corrosive surroundings. FRP gratings are non-magnetic, non-conductive of electricity, feature good aesthetics, involve ease installation, and are maintenance free. FRP gratings serve as the reliable solution for corrosion issues faced in industrial environments.
- Rise in demand for fiber reinforced plastic is estimated to result in high volumes of manufacturing scrap. Implementation of stringent regulations concerning landfill disposal and extensive energy requirements for production of new virgin material are anticipated to hamper the market to some extent.
Vinyl Ester Resin Segment to Mark Robust Demand
- Based on resin type, global FRP grating market can be divided into polyester, vinyl ester, phenolic resin, and others (including epoxy and polyurethane). Demand for vinyl ester based FRP gratings is projected to be high in industrial applications involving aggressive environments where specific chemical resistance is required.
- A range of industries such as chemical processing, waste-water treatment, and oil & gas have been facing the key challenge of corrosion of metal-based grating structures. Vinyl esters are likely to serve as the optimum solution to the corrosion challenges, with their better performance characteristics as compared to other conventional resins
- Vinyl ester based FRP gratings feature unique characteristics such as low permeability, higher chemical resistance, and abrasion resistance. Owing to these characteristics, vinyl esters are estimated to have robust demand as matrix materials to fabricate FRP gratings during forecast period
- Based on manufacturing process, the global FRP grating market can be segregated into pultruded and molded. Pultruded FRP grating involves unidirectional strength and higher glass content, which results in a greater span capability compared to molded variants.
- Molded FRP grating exhibits unique features such as anti-slip, high strength, low maintenance, and versatility. Demand for FRP gratings is expected to rise in applications such as flooring, walkways, platforms, and staircases in the near future.
Walkways to be the prominent application segment during forecast period
- In terms of application, the FRP grating market can be classified into stair treads, walkways, platforms, flooring, and others (including drainage gutters, mezzanines, and machine housings). Walkways is anticipated to be the leading segment during the forecast period. Evolution of smart airports and rise in demand for energy-efficient walkways are expected to augment the market in the near future.
- Based on end-use, the global FRP grating market can be divided into pharmaceutical, marine, food processing, pulp & paper, oil & gas, chemical, mining, and others (including transportation and agriculture). Rise in demand for high-performance and non-corrosive grating solutions in these industries is likely to provide immense potential for the FRP grating market in the near future.
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Asia Pacific to be the Key Region in Global FRP Grating Market
- In terms of region, the global FRP Grating market can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- Asia Pacific region is expected to exhibit strong economic performance during the next decade. Improved global economic conditions are likely to provide further impetus to the dynamism of the regional infrastructure.
- Several Asia Pacific governments are planning to escalate infrastructure financing and development by simplifying the regulations for private and foreign investor participation.
- Australia, Singapore and India are projected to emerge as stable economies by 2027, depicting long-term benefits to the investors. FRP grating market is likely to observe strong potential in Asia Pacific from various end-use industries, in accordance with the uplifting of the regional infrastructure sector.
- Asia Pacific is expected to be the leading region of the global market during the forecast period. Increase in government investments in new infrastructure and resurrection of the old construction in countries in Asia Pacific such as China, Singapore, India, and Thailand are estimated to present ample opportunities for the FRP grating market in the near future
Key Manufacturers Operating in the Market
The global FRP grating market was highly fragmented in 2018. Key manufacturers operating in the FRP Grating market include
- FlexxCon BV
- STRONGWELL CORPORATION
- Gebrüder Meiser GmbH
- Techno Composites Domine GmbH
- FERROTECH INTERNATIONAL FZE
- Bedford Reinforced Plastics
- AGC MATEX CO. LTD.
- Liberty Pultrusions
- Valmont Industries, Inc.
- AIMS INTERNATIONAL
- McNICHOLS CO., INC.
- Lionweld Kennedy Flooring Ltd.
Global FRP Grating Market: Research Scope
Global FRP Grating Market, by Resin
- Vinyl Ester
- Phenolic Resin
- Others (epoxy, polyurethane, etc.)
Global FRP Grating Market, by Manufacturing Process
Global FRP Grating Market, by Application
- Stair Treads
- Others (drainage gutters, mezzanines, machine housings, etc.)
Global FRP Grating Market, by End-use Industry
- Food Processing
- Pulp & Paper
- Oil & Gas
- Others (transportation, agriculture, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.