The business intelligence report titled ‘FRP Grating Market Size by Resin Type (Polyester, Vinyl Ester, Phenolic), By Process (Molded, Pultruded), By Application (Stair Treads, Walkways, Platforms), By End-use (Industrial, Marine, Waste & Water Treatment, Cooling Towers), Industry Analysis Report, Regional Outlook, Competitive Market Share and Forecast, 2021 – 2027’, available with MarketStudyReport, the FRP grating market is expected to garner strong returns during 2021-2027.
 

Global FRP grating market is mainly driven by product proliferation across various end-use verticals, including marine, oil & gas, and cooling towers. Furthermore, advantages such as anti-corrosion properties, lightweight nature, high resistance against chemicals and fire are compelling manufacturers to opt for the product in flooring activities.

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For the unversed, FRP grating is a type of industrial flooring mostly utilized in overhead platforms and walkways as fiberglass plastic is highly durable and a non-conductor of electricity, making it the safest flooring material for high risk and harsh surroundings.

Despite the positive industry outlook, high costs associated with production may impede the surge in the market during the assessment timeline.

Based on form, the phenolic sub-segment held 5% of FRP grating industry share in 2020 and is expected to register an appreciable growth rate through the analysis period. This can be ascribed to the product’s durability against direct flame and high temperatures, which has led to its extensive use across various industrial, offshore, transport, and marine applications.

From the perspective of application, the stair threads sub-segment is projected to record a CAGR exceeding 4.8% in the stipulated time period. Meanwhile, the cooling towers sub-segment held around 22% of the total market share in 2020 and is estimated to garner 3.3% CAGR through 2027.

From a regional frame of reference, the Europe FRP grating market held a CAGR of more than 24% in 2020 and is anticipated to continue an upward growth trend in the future. On the other hand, Latin America accounted for 5% of the total market share in 2020 and is slated to record a stable growth rate of 3.8% over the forecast period.

Middle East & Africa market is also touted to exhibit substantial growth in the forthcoming years, mainly due to increasing product application in oil & gas and mining sectors.

Webforge, Fibrolux GmBH, Sea Safe Inc., National Grating Inc., Strongwell Corporation, Excel Composites Oyj, Fibergate Composite Structures Incorporated, Eurogate Fiberglass Gratings, Ferrotech International SZE, Delta Composites LLC, Bedford Reinforced Plastics, Agc Matex Co., Ltd., Aeron Composite, and Creative Pultrusions, Inc. are the major players powering the industry trends.