Global Market Insights has recently added a report on FRP Grating Market Share 2019 – 2025 which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.
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North America is expected to generate high revenue as it represents a central economic zone for several businesses. Presence of key manufacturers and substantial development in the end-user industries will support the regional industry growth. Rise in usage of FRP building materials as they are well recognized for restoration of tainted concrete structures will boost product demand. In addition, these materials improve strength and performance of infrastructures and are appropriate under severe environmental circumstances.
Increase in government budgets on repairing and construction in several developing countries has positively impacted FRP grating market growth. For instance, China construction spending was more than 1.6 trillion in 2015, while Japan spent over 730 billion in the same year. Ongoing industrialization and urbanization leading to elevate infrastructure and manufacturing facilities will support product penetration.
Walkway is expected to be the leading application amongst stair treads and platform covers during the forecast time period. This latest trend gaining momentum in the industry particularly owing to evolution of smart airports. Rise in advancement of energy efficient walkways offering attractive opportunities to optimize energy through reduced friction by scraping solutions will propel FRP grating market expansion.
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Other prominent players are Techno Composites Domine, Amico Seasafe, McNichols, AGC MAtex, Kemrock Industries & Exports, Daikure, Ferrotech International, Liberty Pultrusions and Exel Composites. New product launches, regional expansion coupled with development of pultrusion technology are major strategies adopted by several FRP grating market players to gain a competitive edge over the forecast timespan.
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