Fiberglass reinforced plastic (FRP) grating market size is forecast to reach $691.3 million by 2025, after growing at a CAGR of 5.1% during 2020-2025. With rise in the industries such as refineries, chemical industry, oil & petroleum industry, off shore platforms, Marine & shipping and others, the consumption of FRP grating will increase and drive the demand for FRP grating market. As FRP grating are ecofriendly and recyclable also, therefore public are showing interest towards sustainable and environment-friendly products, which will further enhance the overall market demand for fiberglass reinforced plastic (FRP) grating during the forecast period.
Type – Segment analysis
Pultruded FRP grating holds the largest market for FRP grating market. High quality, well designed, Pultruded Grating, which resembles metal bar grating, is stronger, lighter, equally corrosion resistant, and in most cases, is less expensive than molded grating. Because of these such qualities on comparison with molded FRP grating, most of the industries prefers pultruded FRP grating. One of the main advantages of FRP Grating is that, it includes anti-rust properties, owing to this, FRP grating is widely used over steel. That’s why we observe the usage of FRP grating in walkways, docks, and hand rails around saltwater sides. FRP grating includes other characteristics such as very low maintenance and higher durability.
Resin – Segment analysis
Phenolic FRP grating is the mostly used resin in both molded and pultruded FRP grating as it has properties such as good corrosion resistance and excellent fire & smoke resistant. Phenolic grating is an alternative to maintenance-intensive metal grating for applications where conventional pultruded grating cannot be used. Phenolic grating can withstand high temperatures and direct flame while maintaining its structural integrity. This feature makes the grating ideal for a wide range of offshore, marine, transportation and industrial applications.
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Applications – Segment analysis
Walkways/Walk Paths is the largest application for fiberglass reinforced plastic (FRP) grating market, as it is seen across various industries such as chemical, Power Plants and others. FRP grating are vastly used for walkways and owning to its highly flammable resistant property, FRP are majorly preferable over steel. FRP Rooftop Walkway System, which is specially designed for Safe & Controlled roof access, provides non-slip, safe and all-weather access for maintenance of solar panels and frequently accessed areas without any un-necessary damage on roofs. Walkways act as designated routes, which are very crucial to keep people away from all hazards. Compared to metal grating, FRP floor grating or FRP walkway grating is lightweight and easy to install.
End-Use – Segment Analysis
Industrial holds the largest share in the Fiberglass market due to increasing preference over metal substitutes. Due to its wide range of properties, the demand for FRP grating is growing drastically. Industries such as petrochemical, oil & gas, pharmaceutical with others are preferring the use of FRP grating for walkways in their industries instead of steel, as they are less expensive and due to its other various properties such as slip resistant, anti-corrosion, chemical resistant, no maintenance, they were preferred over steel. FRP Walkways are mostly manufactured in yellow color, as identification of specific physical hazards including falling, tripping and for designating caution.
Geography – Segment Analysis
APAC has dominated the fiberglass reinforced plastic (FRP) grating market with a share of more than xx%, as the countries such as India, China, Japan, with others have industries on larger scale which uses and manufactures FRP grating. As these countries includes large area, industries are getting setup in these countries rapidly. And even due to some governments’ regulations towards new startups, the establishment of industries are continuously growing among these countries, owning to this, the demand for Fiberglass Reinforced Plastic (FRP) grating will also grow. The increasing use of FRP grating in various applications to ensure long-term durability and increase the service life of infrastructure is expected to drive the growth of the market in Asia-Pacific.
Drivers – Fiberglass Reinforced Plastic (FRP) grating Market
Increasing demand for sustainable and environment friendly products
Stringent Government regulations toward using sustainable products has, likely aid the market demand of fiberglass reinforced plastic (FRP) grating, as they are eco-friendly. It has some other characteristics also such as very good durability, even after that it is recyclable also.
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Challenges – Fiberglass Reinforced Plastic (FRP) Grating market
Airborne fibers during re-gel coatings
Fiberglass reinforced plastic (FRP) grating needs to be re-gel coated about every five years and can result in airborne fibers which may be an issue to asthma sufferers. This process needs to be done in a very cautious manner. So, this can become a small hurdle for the Fiberglass Reinforced Plastic (FRP) Grating market.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Fiberglass Reinforced Plastic (FRP) Grating Market. In 2019, the market of Fiberglass Reinforced Plastic (FRP) Gratinng has been consolidated by the top five players accounting for xx% of the share. Major players in the Fiberglass Reinforced Plastic (FRP) Grating Market are Strongwell Corporation, Techno Composites Domine GmbH, McNichols Company, Bedford Reinforced Plastics, and AGC MAtex Co. Ltd. among others.
In June 2018, Fibergrate introduce the new DynaRound round tube guardrail and handrail product. The product provides extreme strength for durability and resistance to corrosion which strengthen the portfolio of the company.
Asia-Pacific dominates the FRP Grating market, as it has larger number of industries, which consumes FRP grating.
Properties such as slip resistant, anti-corrosion, chemical resistant, no maintenance, and economical are majorly driving the demand for fiber reinforced plastic (FRP) grating market.
Increasing adoption of sustainable and environment friendly products, will increase the market demand for fiberglass reinforced plastic (FRP) grating in the near future.
Airborne fiber may be an issue for asthma sufferers, as FRP gratings needs to be re-gel coated about every five years and can result in airborne fibers.
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