Fiber-Reinforced Plastic (FRP) Grating Market Scope
Fiber-reinforced plastic (FRP) grating is a type of lightweight and corrosion-resistant grating material made from a combination of fiberglass reinforced plastic (GRP) and other composite materials. FRP grating is commonly used in applications where traditional materials like steel or aluminum are not suitable due to their susceptibility to corrosion or chemical attack. It is also ideal for use in places where weight is a concern, such as offshore oil platforms or industrial walkways. and FRP grating is highly durable and has a high strength-to-weight ratio, making it ideal for applications that require high load capacity. It is also resistant to chemicals, UV radiation, and fire, making it a safe choice for many applications. In addition to its durability and strength, FRP grating is also easy to install and requires little maintenance. It can be easily cut to fit any shape or size, and can be installed using simple hand tools.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | FERROTECH INTERNATIONAL FZE (United Arab Emirates), Bedford Reinforced Plastics (United States), AGC MATEX CO.LTD. (Thailand), Liberty Pultrusions (United States), Volmont Industries, Inc. (United States), AMROCK (United States), AIMS COMPOSITES (United States), McNICHOLS CO., INC. (United States), Lionweld Kennedy Flooring Ltd. (United Kingdom) and LOCKERGROUP (Australia) |
CAGR | % |
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality to cater to the ever-growing demand for fiber-reinforced plastic grating. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Fiber-Reinforced Plastic (FRP) Grating market throughout the predicted period.
FERROTECH INTERNATIONAL FZE (United Arab Emirates), Bedford Reinforced Plastics (United States), AGC MATEX CO.LTD. (Thailand), Liberty Pultrusions (United States), Volmont Industries, Inc. (United States), AMROCK (United States), AIMS COMPOSITES (United States), McNICHOLS CO., INC. (United States), Lionweld Kennedy Flooring Ltd. (United Kingdom) and LOCKERGROUP (Australia) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are FlexxCon BV (Netherlands), STRONGWELL CORPORATION (United States) and Gebruder Meiser GmBH (Germany).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Fiber-Reinforced Plastic (FRP) Grating market by Type , by Application (Walkways, Platforms, Stairs, Trench covers and Others) and Region with country level break-up.
On the basis of geography, the market of Fiber-Reinforced Plastic (FRP) Grating has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In 2020, Amico Industrial Group, a manufacturer of steel grating and other industrial products, acquired Alabama Metal Industries Corporation (AMICO), a manufacturer of FRP grating and other composite products.
In 2020, Strongwell is one of the leading companies in the FRP grating market, and it has been expanding its product offerings in recent years, the company introduced a new line of lightweight FRP grating panels that are designed for use in platforms, walkways, and other applications.
Influencing Trend:
Growing use of 3D printing technology in the manufacturing of FRP grating.
Market Growth Drivers:
High demand from end-use industries such as oil and gas, water and wastewater, and marine. and Growing awareness about the benefits of FRP grating over traditional materials.
Challenges:
Lack of standardization and regulations for FRP grating products.
Restraints:
High initial cost of FRP grating compared to traditional materials.
Opportunities:
Growing demand for FRP grating in emerging economies, and Increasing use of FRP grating in the construction industry
Key Target Audience
Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries