New investments in the construction sector will generate growth opportunities in the FRP grating market. Fiberglass reinforced plastic (FRP) grating exhibits excellent mechanical properties & stiffness-to-weight ratio, making it viable for use in the construction sector. Large government investments in construction projects could spur the demand for FRP grating.
Economic development across the globe has supported industrialization and urbanization, subsequently supporting the demand for raw materials in the construction domain. Moreover, FRP grating is also used in oil and gas and marine industry due to its affordability and superior properties.
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As per a report by Global Market Insights Inc. the global FRP grating market size could amass USD 605 million in terms of value through 2027.
High adoption of molded grating
Molded FRP grating market is witnessing promising growth. The material is developed in layers of continuous glass fibers that have been oriented to offer strength, with resin joining the fibers and establishing the shape along with offering resistance from corrosion.
Molded grating has showcased considerable demand owing to its bidirectional strengths that facilitate cutouts in the panels around the entrance that may be made without the need for any extra support and pipe. Moreover, the product is known to offer superior chemical resistance along with the tolerance of any fiberglass grating.
Key use in diverse sector
With respect to end-use, the industrial segment has emerged as a key application for FRP grating over the years. FRP grading is extensively used in oil and gas, food and beverage, pulp and paper, and mining sector. Additionally, rapid industrialization in developing countries is one of the main factors boosting the demand for the product in the industrial sector.
Evolving marine sector of North America
Developing marine sector in North America will support the adoption of FRP grating solutions. Increasing construction activities in the U.S. supported by new economic development in the region has complemented the need for FRP gratings as they are cost-effective when compared to aluminum and steel gratings.
The non-corrosive and non-conductive properties of the product are most useful and best suited for harsh weather conditions. According to the Construction Association, U.S. constructs close to USD 1.4 trillion worth of structures annually.
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FRP grating companies are actively investing to improve their product quality along with achieving a competitive edge. Some of the prominent market players include AGC Matex Co. Ltd., Strongwell Corporation, Ferrotech International FZE, Webforge, and Delta Composites, among various others.
To sum up, rapid industrialization and urbanization in various developing nations will drive industry growth through 2027. Moreover, growing applications of FRP grating in oil and gas and marine industry owing to cost-effectiveness and superior properties will continue to offer new growth opportunities to the industry.
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