Product ID: UCMIG20L2025
Report ID:
UCMIG20L2025 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The FRP (Fiber Reinforced Plastic) grating market, valued at approximately USD 452 million in 2020, is poised to experience sustained growth with a projected Compound Annual Growth Rate (CAGR) exceeding 4.4% from 2021 to 2027. This expansion is propelled by the rapid industrialization observed in developing nations, which is anticipated to drive heightened demand for FRP grating across diverse industries such as pulp and paper, oil and gas, and mining. These industries require sturdy, corrosion-resistant, and lightweight materials that can withstand harsh operating environments. FRP grating, characterized by its durability, chemical resistance, and versatility, serves as an optimal solution for such demanding applications. As these industries expand to accommodate growing production needs, the need for reliable, cost-effective, and low-maintenance materials like FRP grating is expected to rise, further boosting its market presence. Market research analysis highlights the pivotal role of FRP grating in addressing industry requirements while capitalizing on the transformative impact of industrialization in emerging economies.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Environmental & Facilities Services by segment aggregation, the contribution of the Environmental & Facilities Services in Commercial & Professional Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG20L2025