FRP Grating Market Worth 574.2 Million USD by 2021
PUNE, India, May 12, 2017 /PRNewswire/ --
The report "FRP Grating Market by Resin Type (Polyester, Vinyl Ester, Phenolic), Process (Molded, Pultruded), Application (Stair Treads, Walkways, Platforms), End-use Industry (Industrial, Water Management, Cooling Towers, Marine), and Region - Global Forecast to 2021", Published by MarketsandMarkets™, the FRP Grating Market is projected to reach USD 574.2 Million by 2021, at a CAGR of 4.24% between 2016 and 2021.
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Browse 71 market data tables and 69 figures spread through 149 pages and in-depth TOC on "FRP Grating Market"
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The FRP Grating Market is driven by the increasing demand for corrosion-resistant and thermally stable materials in various industries. The need to replace steel/metal materials with lightweight and high strength materials is a key factor expected to drive the growth of the FRP Grating Market in the near future. FRP Grating are resistant to a range of chemicals, water, and corrosion, and are lightweight, due to which they are increasingly being used in stair treads, walkways, and platforms covers, among others.
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Based on resin type, the polyester segment of the FRP Grating Market is expected to witness the highest growth during the forecast period
Based on resin type, the polyester segment of the FRP Grating Market is expected to witness the highest growth during the forecast period, owing to the increasing use of polyester resins in the marine, industrial, and water management end-use industries. Polyester resins have high strength and resistance to corrosion and a range of chemicals.
The industrial segment is estimated to be the largest segment of the FRP Grating Market in 2016
FRP Gratings are increasingly being used in various industries, due to the low maintenance cost of these gratings and their resistance to corrosion, water, and a range of chemicals. FRP Grating are used in the oil & gas, paper & pulp, pharmaceutical, and food & beverage industries.
Asia-Pacific is expected to be the fastest-growing market for FRP Grating during the forecast period
Asia-Pacific is expected to be the fastest-growing market for FRP Grating, due to the presence of increasing industrialization in several countries in the region. China, India, and Japan are the major consumers of FRP Grating in the region. 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.
Key players operational in the FRP Grating Market are Strongwell Corporation (U.S.), Techno Composites Domine GmbH (U.K.), McNichols Company (U.S.), Meiser GmbH (U.K.), Bedford Reinforced Plastics (U.S.), and AGC MAtex Co. Ltd. (Japan).
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