Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The fiberglass reinforced plastic gratings is expressed as the gratings structure which comprised of a matrix of resin along with fiberglass. They are considered as green, sustainable and energy efficient material. Unlike steel gratings, these are composite material which does not corrode and is therefore applicable in corrosive environments for minimization of cost of maintenance. The properties of FRP gratings such as high strength, light weight and corrosion resistance makes them more demandable in the market. Additionally, they have excellent light transmission, radar transparency, conductivity and high dielectric strengths.
The FRP gratings market is anticipated to grow at CAGR of 5.12% during forecast period of 2021 to 2027. Owing to less cost of maintenance the FRP gratings are gaining market attentions. The key factors such as increasing demand for non-corrosive and high-performance gratings form major industries are propelling the growth of FRP gratings market. The rising uses of FRP gratings in different industries is also refuelling the growth of FRP grating market. However, recyclability and disposable cost of FRP grating is hindering the growth of FRP grating market.
The exclusive COVID-19 impact analysis report by axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the FRP gratings market. In addition, complete analysis of changes on FRP gratings expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The COVID-19 pandemic have disturbed all the supply chains in almost every market. As the circumstance of lockdown and widespread of virus among various populations also hampered the market as the complete shutdown in different countries were implemented. These hindered the trade of FRP gratings across the various regions as because of that the FRP gratings market is having the negative impact of the COVID-19. As the situation of COVID-19 is getting normalized the market is estimated to boost up like before.
The FRP gratings market is segmented by resin type, process, application, end user and geography.
The resin type such as polyester, vinyl ester, phenolics and other are comprised in the FRP gratings market. In which, Polyester resins are expected to dominate the market in 2020. The polyester resin are the synthetic resign formed by the reaction of dibasic organic acids and polyhydric alcohols. The polyester resin is used widely with FRP grating for manufacturing of lightweight and high strength materials. They have different applications in making decorative objects such as costume jewellery, paperweights and encapsulation of flowers, coins or biological specimens.
The process such as molded FRP gratings and pultruded FRP gratings are comprised in the FRP gratings market. In which pultruded is estimated to dominate the market in 2020. The pultrusion is a continuous process for manufacture of fiber-reinforced plastics with constant cross sections. The pultruded FRP gratings have different properties such as high stiffness, corrosion resistance and superior strength than the molded FRP gratings.
The different applications of FRP gratings such as stair treads, walkaways, platforms, flooring and others are comprised in the FRP gratings market. In which walkaways are expected to dominate the market in 2020. The FRP gratings are used for both aesthetic and functional purposes in the various industries such as construction, architecture, contract companies as owing to easy installations, require low maintenance and light weight properties.
The end user industries such as industrial, water management, cooling towers, oil and gas, marine and other are comprised in the FRP grating market. In which water management industries is anticipated to dominate the market in 2020. Owing to properties such as corrosion resistance, high strengths, impact resistance and light weight these properties they are widely used in water management industries. Following to the water management industries they are also used in industrial sectors, cooling tower and marine industry.
The FRP gratings market is studied for key regions such as North America, Europe, Asia Pacific and Rest of the World. In which Asia Pacific region is anticipated to dominate the market in 2020. Owing to high rate of growth of industrial sectors the FRP gratings market is observing growth. The rising economic development of the region is also refuelling the growth of FRP gratings market. The rising government initiative for expanding industrial sectors is also contributing in the growth of FRP gratings market.
The major key players in FRP gratings market such as Strongwell Corporation, Techno Composites Domine GmbH, Meiser GmbH, Bedford Reinforced Plastics, AGC Matex Co. Ltd, Liberty Pultrusions, Delta Composites LLC, Mcnichols Co., National Grating, Lionweld Kennedy, Kemrock Industries & Exports Ltd., Locker Group, Eurograte Fiberglass Grating, Ferrotech International FZE, Suzhou Grating Co. Ltd. (iGrid), Fibergrate Composite Structures Ltd., Exel Composites, Arham Hi-Tech Design and Solution Pvt. Ltd., Indiana Group, Diakure Co. Ltd., Jiangyin Runlin Molding New Materials Co. Ltd., Fibrolux GmbH, Amico Seasafe Inc., Flexxcon Bv and Webforge among others.
The study comprised of the FRP gratings market. In which various segment of the market such as resin type, process, application and end user. The study also comprised of the dominating segment of the market. The resin type segment is dominated by polyester resins. Based on process, pultruded FRP gratings are propelling the fastest market growth. By application the market is dominated by walkaways and by end user the water management is dominating the market of FRP gratings. The study also covers the geographical section of the market and concludes that the Asia Pacific is estimated to dominate the market in 2020. The study imparts the impact of COVID-19 on FRP grating market and it is found that COVID-19 pandemic have disturbed all the supply chains in almost every market. As the circumstance of lockdown and widespread of virus among various populations also hampered the market as the complete shutdown in different countries were implemented. These hindered the trade of FRP gratings across the various regions as because of that the FRP gratings market is having the negative impact of the COVID-19. As the situation of COVID-19 is getting normalized the market is estimated to boost up like before. The study also cover major key players active in the market.
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