Market Size of FRP Grating Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 4.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
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FRP Grating Market Analysis
The market for FRP grating is expected to grow at a CAGR of 4% during the forecast period. The major factor driving the growth is the increasing demand for the FRP gratings over traditional iron and steel gratings due to its advantages like high strength, lightweight, corrosion resistance, etc. On the flip-side, the sudden outbreak of the COVID-19 is expected to impact the growth of the market in years to follow.
- Pultruded FRP Grating is anticipated to dominate the overall market during the forecast timeline.
- Asia-Pacific region is expected to be the largest market for the FRP grating market during the period of forecast.
FRP Grating Industry Segmentation
The FRP Grating Market report includes:
Type | |
Polyester | |
Vinyl Ester | |
Phenolic | |
Epoxy |
Manufacturing Process | |
Pultruded | |
Molded |
Application | |
Stair Treads | |
Walkways | |
Platforms | |
Floor Systems |
End-User | |
Oil & Gas | |
Plant & Chemical Processing | |
Waste & Water Treatment | |
Pulp & Paper | |
Construction | |
Others |
Geography | |||||||
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FRP Grating Market Size Summary
The FRP grating market is poised for growth, driven by the increasing preference for FRP gratings over traditional materials like iron and steel. This shift is attributed to the superior properties of FRP, such as high strength, lightweight, and corrosion resistance. Despite the positive outlook, the market faces challenges due to the lingering effects of the COVID-19 pandemic. Pultruded FRP grating is expected to lead the market, offering advantages like longer spans and enhanced durability, making it a suitable alternative to steel and aluminum gratings. The pulp and paper industry also contributes to the demand for pultruded gratings, further bolstering market growth.
The Asia-Pacific region is anticipated to be the largest market for FRP grating, driven by robust construction activities and increasing demand from various industries. The region's construction sector is experiencing significant growth, with countries like China, India, and Indonesia playing pivotal roles. Additionally, the region's expanding wastewater treatment and oil refining capacities contribute to the rising demand for FRP gratings. The market is characterized by partial fragmentation, with key players including Bedford Reinforced Plastics, STRONGWELL CORPORATION, and Fibergrate Composite Structures, Inc., among others, competing for market share.
FRP Grating Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand for FRP Gratings over Iron and Steel Gratings
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Sudden Impact of COVID-19 Outbreak
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Polyester
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2.1.2 Vinyl Ester
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2.1.3 Phenolic
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2.1.4 Epoxy
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2.2 Manufacturing Process
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2.2.1 Pultruded
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2.2.2 Molded
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2.3 Application
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2.3.1 Stair Treads
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2.3.2 Walkways
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2.3.3 Platforms
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2.3.4 Floor Systems
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2.4 End-User
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2.4.1 Oil & Gas
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2.4.2 Plant & Chemical Processing
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2.4.3 Waste & Water Treatment
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2.4.4 Pulp & Paper
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2.4.5 Construction
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2.4.6 Others
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2.5 Geography
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2.5.1 Asia-Pacific
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2.5.1.1 China
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2.5.1.2 India
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2.5.1.3 Japan
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2.5.1.4 South Korea
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2.5.1.5 Rest of Asia-Pacific
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2.5.2 North America
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2.5.2.1 United States
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2.5.2.2 Canada
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2.5.2.3 Mexico
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2.5.3 Europe
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2.5.3.1 Germany
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2.5.3.2 United Kingdom
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2.5.3.3 France
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2.5.3.4 Italy
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2.5.3.5 Rest of Europe
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2.5.4 South America
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2.5.4.1 Brazil
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2.5.4.2 Argentina
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2.5.4.3 Rest of South America
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2.5.5 Middle-East and Africa
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2.5.5.1 Saudi Arabia
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2.5.5.2 South Africa
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2.5.5.3 Rest of Middle-East and Africa
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FRP Grating Market Size FAQs
What is the current FRP Grating Market size?
The FRP Grating Market is projected to register a CAGR of 4% during the forecast period (2024-2029)
Who are the key players in FRP Grating Market?
Bedford Reinforced Plastics, STRONGWELL CORPORATION, FERROTECH INTERNATIONAL FZE, SEASAFE, INC. and Fibergrate Composite Structures, Inc. are the major companies operating in the FRP Grating Market.