Impact of Covid-19 on Global FRP Grating Market

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Impact of Covid-19 on Global FRP Grating Market

The FRP grating market has developed significantly of late. This can be primarily ascribed to the high performance and increasing recognition of FRP grating globally. Rise in global population is driving the need for smart architecture, smart mobility, and smart energy solutions.

FRP Grating: Introduction

· Fiberglass Reinforced Plastic (FRP) grating is a grating structure entailing a matrix of resin and fiberglass. FRP is regarded as a green, sustainable, and energy-efficient material. Unlike steel, FRP grating does not corrode. It is a suitable alternative in corrosive environments to reduce maintenance costs. Demand for FRP grating is expected to rise substantially in the next few years due to the superior characteristics of FRP such as chemical resistance, corrosion resistance, thermal stability and low lifecycle costs.

Key Drivers and Restraints of Global FRP Grating Market

· The FRP grating market has developed significantly of late. This can be primarily ascribed to the high performance and increasing recognition of FRP grating globally. Rise in global population is driving the need for smart architecture, smart mobility, and smart energy solutions. FRP is anticipated to emerge as a high strength and lightweight alternative to steel and iron grating structures during the forecast period.

· Conventional wood and metallic gratings deteriorate rapidly in corrosive surroundings. FRP gratings are non-magnetic, non-conductive of electricity, feature good esthetics, involve ease installation, and are maintenance free. FRP gratings serve as reliable solutions for corrosion issues faced in industrial environments.

· Rise in demand for fiber reinforced plastic is estimated to result in high volume of manufacturing scrap. Implementation of stringent regulations concerning landfill disposal and extensive energy requirements for production of new virgin materials are anticipated to hamper the market to some extent.

FRP Grating: Resin Type Segment

· In terms of resin type, the global FRP grating market can be segmented into polyester, vinyl ester, phenolic resin, and others (including epoxy and polyurethane)

· The polyester segment is expected to account for significant share of the global FRP grating market during the forecast period. It is anticipated to be followed by the vinyl ester segment.

· The phenolic resin segment is likely to expand at a rapid pace during the forecast period, due to the expansion of the polymer industry around the globe

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FRP Grating: Application Segment

· In terms of application, the global FRP grating market can be divided into stair treads, walkways, platforms, and others

· The stair treads segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the walkways segment.

· The platforms segment is likely to expand at a healthy CAGR during the forecast period, owing to the growth of the global construction industry

FRP Grating: End-use Segment

· In terms of end-use, the global FRP grating market can be segregated into industrial, water management, cooling towers, marine, and others

· The industrial segment is estimated to expand at a rapid pace during the forecast period. It is projected to be followed by the water management segment.

· The cooling towers segment is likely to expand at a healthy CAGR during the forecast period, owing to the increase in usage of FRP grating in the segment

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COVID-19 Impact on FRP Grating Market

· On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.

· Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic

· Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the FRP grating market.

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Asia Pacific to Dominate FRP Grating Market

· In terms of region, the global FRP grating market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

· Asia Pacific dominated the global FRP grating market in 2020. This trend is anticipated to continue during the forecast period due to the improved global economic conditions in the region. The FRP grating market in North America is anticipated to expand at a rapid pace owing to the increase in demand for corrosion-free metals in Canada.

Key Manufacturers Operating in Global FRP Grating Market

The global FRP grating market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global FRP grating market include:

· FlexxCon BV

· STRONGWELL CORPORATION

· Gebrüder Meiser GmbH

· Techno Composites Domine GmbH

· FERROTECH INTERNATIONAL FZE

· Bedford Reinforced Plastics

· AGC MATEX CO. LTD.

· Liberty Pultrusions

· Valmont Industries, Inc.

· AMROCK

· AIMS INTERNATIONAL

· McNICHOLS CO., INC.