According to a research 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 Market Study Report, FRP grating market is projected to generate substantial returns over the forecast period 2021-2027.
 

As per the report findings, surging adoption across several end-use industries such as mining, marine, oil & gas, and cooling towers, along with exceptional product characteristics including resistance towards chemicals, fire, and slip, lightweight structure, and anti-corrosion nature are promoting worldwide FRP grating industry growth. Furthermore, rapid growth in paper & pulp sector is also stimulating overall market expansion.
 

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For the record, FRP (fiberglass reinforced plastic) grating is industrial flooring, primarily found in walkways and overhead platforms. This flooring material is usually made by mixing fiberglass and resin, and is highly durable, non-corrosive, and does not conduct electricity. These characteristics make it one of the safest alternatives for harsh as well as high-risk environments.
 

Despite the positive outlook, high manufacturing costs, and issues with sustainability & innovation are likely to hamper market growth in the upcoming years.
 

Based on form, FRP grating market is classified into polyester, phenolic, vinyl ester and others. Of these, phenolic segment captured approximately 5% of the market share in 2020 and is slated to record substantial growth in the coming years due to factors such as high temperature resistance and ability to maintain structural integrity when exposed to direct flame.
 

Considering application ambit, the industry segmentation comprises stair treads, platforms, walkways, and others. Among these, stair treads sector is projected to witness a CAGR of 4.8% over the analysis timeframe.
 

Moving on to end-user scope, the business vertical is classified into industrial, cooling towers, marine, waste & water treatment, and others. Cooling towers segment captured nearly 22% industry share in 2020 and is expected to observe a similar trend in the upcoming years, while others end-user segment is touted to register a CAGR of 3.3% during the forecast period.
 

From a regional frame of reference, Europe accounted for over 24% market share in 2020 and is poised to garner substantial returns in the forthcoming years. Meanwhile, Latin America FRP grating market size is expected to expand at 3.8% CAGR through 2027.
 

Parallelly, Middle East & Africa industry is reckoned to witness remarkable growth over 2021-2027, owing to surging application of the product in mining and oil & gas sectors.
 

Prominent players in FRP grating market sphere are Seasafe Inc., Strongwell Corp., Webforge (Valmont Industries Inc.), Fibrolux GmbH, National Grating, Fibergrate Composite Structures Inc., Ferrotech International FZE, Exel Composites Oyj, Eurograte® (Ticomm & Promaco S.r.l.), Delta Composites LLC, Creative Composites Group, Bedford Reinforced Plastics Inc., Aeron Composite Pvt. Ltd., and AGC Matex Co. Ltd.