Published Date : 25 Nov 19 | Views: 38 | 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