Published Date : 25 Nov 19 | Views: 130 | Industry : Miscellaneous
Stainless
Steel Grating Usage in Various Industries to Foster Growth of Product Segment
Based on the
product, the market is bifurcated into carbon steel grating and stainless steel
grating. Stainless steel grating is extensively used in applications which
require anti-corrosive and hygienic gratings. The industries which have
extensive usage of stainless steel grating are pharma, food processing,
petrochemicals, chemicals, hydroprocessing, water treatment, breweries, and
offshore platforms.
Based on the
application, the market is segregated into petrochemical, architecture, and
sewage disposal. In sewage disposal, steel gratings are used extensively as it
is designed to withstand corrosion in high moisture environments.
Rapid
Industrialization Offer Scope of Growth for the Market in Asia Pacific Region
North America and Europe
accounted for a significant share of the market. Both the regions have the
presence of relatively mature markets and are likely to register a sluggish
growth rate. Due to developing economies of countries such as China, India,
Japan, and South Korea the market of the Asia Pacific region is expected to
witness growth at a substantial pace. Rapid industrialization is expected to
offer new opportunities in the Asia-Pacific region.
Market
Players Keen on Incorporating Technological Innovation to Boost the Growth of
the Market
Nucor, AMICO, NJMM,
Webforge, Yantai Xinke, Meiser, P&R Metals, Interstate gratings, Ohio
gratings, Lionweld Kennedy, Grating Pacific, Macro Speciality, Beijing Dahe,
Sinsteel, Nepean, Ningbo Lihongyuan, Chengdu Xinfangtai, Guangdong Nanhai Jimu,
Borden Meta, and Anping Runtan are some of the major players operating in the
global Steel Grating Market. Due to huge competition, global market players are
keen on incorporating technological innovation.
Availability
of Alternative to Hamper the Growth of Steel Grating Market
Increasing
applications in end-use industries and technological innovations are major
factors driving the growth of the global Steel Grating Market. It is used in
factories and buildings where ease of movement and safety is required. However,
carbon emissions produced during the manufacturing of Steel Grating is likely
to hinder the market growth. Customers’ preference for other alternatives such
as fiberglass grating, which offers more durability is predicted to hinder the
growth of the market.
For further information, check: https://www.qyrconsulting.com/reports/steel-grating-market