Market Synopsis
According to MRFR analysis, the Fiber-Reinforced Plastic (FRP) Grating Market was valued at around USD 505.32 Million in 2018 and is expected to reach over USD 688.59 Million by the end of 2027 at a CAGR of 4.52%.
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Fiber-reinforced plastic (FRP) is a composite material produced by combining fiberglass and a matrix of resin. These FRP gratings are more durable from the conventional reinforcement grating materials such as steel and aluminum owing to their resistance to electrochemical corrosion. The key factors boosting the growth of the global fiber-reinforced plastic (FRP) grating market are the increasing investment in the infrastructure sector and rising demand for FRP gratings across various end-use industries.
Key Players
- Strongwell Corporation (US) — DURAGRATE
- Gebrüder Meiser GmbH (Germany) — I-Bar
- Bedford Reinforced Plastics (US) — PROgrate
- AGC Matex Co. Ltd. (Japan) — GS type grating
- Euro grade Fiberglass Grating (Italy) — EUROGRATE
- Ferrotech International FZE (UAE)
- LOCKERGROUP — Vinyl Ester ‘V’ Yellow Fibreglass Grating
- Fibergrate Composite Structures Inc. (US) — Safe-T-Span
- Techno Composites Domine GmbH (UK)
- Exel Composites (Finland)
- AMROCK (US)
- AIMS INTERNATIONAL (US)
Market Drivers
- Increasing investments in the infrastructure sector
- Growing demand for FRP grating across various end-use industries
- Low life cycle costs of FRP gratings
- Growing awareness regarding the advantages of FRP grating over conventional gratings
SEGMENTATION
By Product Type
- Molded Fiberglass Grating: Molded fiberglass grating is manufactured by placing the heated mold in an upside-down waffle iron. Usually, this mold consists of 65% fiberglass and 35% resin, owing to which the molded fiberglass grating receives its chief property, which is high corrosion resistance.
- Pultruded Fiberglass Grating: Pultruded fiberglass gratings are 65% glass and 35% resin, which provide the grating its primary property that is high strength to weight ratio. Moreover, these gratings have a superior advantage over the molded fiberglass as they can be customized to fit a wide range of profiles. These factors are expected to fuel their demand during the forecast period.
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By Region
- North America: The regional market growth is driven by the high demand for FRP gratings in wastewater treatment and building & construction industries.
- Europe: Significant consumption of FRP gratings in the food & beverage and chemical industries for applications such as stair treads and work platforms is expected to fuel the regional market growth.
- Asia-Pacific: Most opportunistic market owing to rapid industrialization.
- Latin America: It is expected to witness positive growth owing to increasing construction activities, which is fueling the demand for FRP grating in Latin America.
- Middle East & Africa: The growing infrastructure sector and surging oil and gas industry is expected to fuel the regional market growth.
By Material Type
- Vinyl Ester Resin: It held the largest market share in 2018. The growth is due to the excellent chemical resistance offered by these resins owing to which they are in high demand in multiple end-use industries, where the grating is subject to be in direct contact with harsh chemicals such as acids and caustics. It is primarily used in chemical processing, oil & gas, wastewater, and mining.
- Polyester Resin: Although polyester resin offers an intermediate level of chemical resistance as compared to vinyl ester resin, they are material of choice for gratings subjected to spill and splash in harsh chemical environments. They are economical and reduce the cost of grating as compared to vinyl ester resin.
By End-Use Industry
- Building and Construction: It is projected to be the largest segment owing to the high consumption of FRP gratings in applications such as sunscreens, rooftop solar panel walkways, fencings, and railings. The properties such as corrosion resistance, high strength-to-weight ratio, structural stability, and ease of installation have increased their demand in building and construction activities. The increasing building & construction activities in emerging economies is another factor favoring the growth of the global FRP gratings market.
- Wastewater Treatment: The growth of the segment is due to the consumption of FRP grating in building tanks & equipment access platforms, decking, and in equipment that are exposed to potentially corrosive environments.
- Chemical: Corrosion in chemical processing facilities negatively impact the bottom-line growth of the industry. FRP gratings are used throughout chemical facilities as they are corrosion resistant, slip-resistant, and require low maintenance. They find applications in stair treads, stairways, and crossover systems.
- Food & Beverage: The growth of the segment is due to the use of these gratings in work platforms, trench gratings, walkways, accessways, screening, conveyor systems, and pit covers.
- Oil & Gas: The increasing demand for lightweight and corrosion-resistant gratings in offshore platforms, floating facilities, land-based and offshore drilling rigs, and marine terminals is expected to be the major factor driving the growth of the segment.
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Pricing and Regulatory Analysis
The environmental and governmental regulations have increased the adoption of green materials, which is expected to boost the growth of the global FRP gratings market during the forecast period. This is due to the plastics from FRP gratings can be recycled.
- The European Standards – EN 16245, for ‘Declaration of raw material characteristics’
- The International Organization for Standardization – ISO 846, for ‘Evaluation of the action of microorganisms’
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