August 25, 2022 06:00 ET | Source: Market Research Future Market Research Future
New York, New York, UNITED STATES Mild Steel Grating
New York, USA, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Metal Grating Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Metal Grating Market Information by Product Type, Material Type, End-User, and Region - Forecast till 2027”, the market is estimated to grow at a 7% CAGR to reach USD 1,019.9 Million by 2027.
Metal gratings are elongated, and parallel elements that help cover up open spaces and are used in diverse industries. Metal grating owing to its higher reliability, durability, and stress resistance, compared to fiber grating as well as aluminum finds use in the development of stair treads, trenches, decks, and steel flooring. The grating system is completely dependent on the load it is generally subjected to and is extensively adopted due to its corrosion resistance and the need for less maintenance.
Metal grating finds widespread use across major industries owing to its corrosion resistance as well as minimal shrinkage characteristics. Some key applications of metal gratings include aircraft and automobile manufacturing facilities, water treatment plants, power plants, chemicals, and oil rigs.
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The important vendors in the metal grating industry are
Adoption of advanced manufacturing technologies, extensive R&D activities, and acquisitions are the top strategies used by the players in the market to elevate their standings.
The metal grating market is mostly favored by the escalating demand across numerous end-use industries, such as oil and gas, processing, and water and wastewater treatment. The focus on infrastructure advancements across several regions over the years has raised the adoption rate of metal gratings, for applications in highways, fencing of bridges, and walkways.
Metal gratings also find use in the manufacturing of staircases, wheelchair ramps, security & ventilation screens, fence panels, metal sunshades, handrail infill panels, decorative louvers, building facades, fountain floor grate, tree grates, and architectural accents. Therefore, given the burgeoning application range of the product and the thriving construction industry in various parts of the world, the metal grating industry is bound to see incredible growth in subsequent years.
Out of all the metals, the highest demand is seen by steel gratings, which have various industrial applications, including in the development of stair treads, platforms, walkways, trench coverings, and drainage covers. They are used in flooring applications owing to their significant load-bearing capacity. They are slip-resistant and easy to maintain and install. Platform steel gratings are the latest types of building materials with extensive use in the construction of power plants and boilers, as well as in chemical, petrochemical, and shipbuilding sectors. They further find use in the manufacturing of vehicle parts, coupled with handrails and stair treads in various sectors; since it requires little to no maintenance. As a result, steel grating has crucial applications in industries like vehicles, oil, and gas as well as construction, which should benefit the overall market of metal grating.
Factors including carbon emission during the process of developing steel grating and the surging preference for FRP grating given its lightweight properties will slow down the growth rate o the market.
However, the surge in the industrialization rate across emerging markets like China and India will offer lucrative opportunities to metal grating developers in the following years.
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The COVID-19 outbreak as well as the subsequent lockdown has had a brutal effect on the automotive industry, with the temporary shutdown of manufacturing facilities and a reduction in road traffic. The automotive industry is facing revenue losses following the SARS-CoV-2 pandemic due to travel bans and the overall economic downfall worldwide.
Steel consumption rate has dropped considerably in various countries following the pandemic outbreak. Weakened investments and exports are the latest trends, with the trend becoming more pronounced now with the rising trade tensions between countries. However, with the lockdown now being lifted up and a major focus on curbing the spread of the novel coronavirus, players are now able to continue with their business and also concentrate on strengthening their supply chains. This can mean a quicker recovery for the metal grating industry in the upcoming period.
Safe grating and bar grating are the top two segments, depending on product type.
Bar grating, with the biggest share of 53.6%, took the lead in 2019 and should continue to lead the worldwide market over the forecast period as well. the strong demand for bar grating is the result of its high gap ratio as well as the strength-to-weight ratio between the adjacent bars. These properties foster its use in diverse applications like safety fences and gates, fire escapes, bridges, grills, ventilation, trailer beds, and street drains.
Aluminum, stainless steel, galvanized steel, carbon steel, and others are the key material types covered in the MRFR study.
Carbon steel leads as the biggest segment in the market and will continue to do so throughout the given period. The mounting use of carbon steel grating on account of its high strength and wear resistance to corrosion will ensure the segment’s sustained growth.
Aluminum is yet another material type used extensively in trench covers, bridge flooring, platforms, mezzanine floors and ramps, in view of its lightweight, high strength, non-sparking, corrosion resistance, impressive load-bearing properties and rigidity.
Chemical, food, chemical, water and wastewater industries, and various other sectors like small-scale manufacturing plants, building and construction, marine, automotive, and aerospace are the top industry end-users.
The water & wastewater treatment industry segment should take up the highest share of 34.6% in the market by 2027. The escalating adoption of gratings in numerous designs and structures from filtration grills and walkways in water treatment facilities owing to their impressive physical properties like high rigidity as well as corrosion resistance fosters their use in the development of structural platforms, railings, and ladders.
The ‘others’ segments like small-scale manufacturing plants, building and construction, marine, automotive, aerospace, and others are also gaining a lot of traction in the worldwide market.
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Asia Pacific’s share in the worldwide market came to more than 35% in 2019 and the region will continue to remain dominant throughout the evaluation period. This could be owing to the extensive use of metal grating in diverse industries such as oil & gas, chemical, chemical, and power plants. The escalating product use in trench covers, bridge flooring, ramps, walkways, catwalks, mezzanine floors, and platforms will ensure growth in the use of metal gratings over the following years.
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