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FRP Cable Tray Market Size, Share & COVID-19 Impact Analysis

Cable trays  are fabricated in various designs to withhold a bulk bunch of wires & cables laid in different structures to maintain the operational safety and aesthetic appeal of the location.

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The products are manufactured with different raw materials, including aluminum, steel, stainless steel, and reinforced plastic. These are installed as components to the support systems and allow easy heat dispersion for repair and replacements.

Growing Industrial Operations in Corrosive Environment to Favor the Market Dynamics

The increasing production & processing capacities of chemical plants across the globe has resulted in the adoption of special products with efficient operations.

Additionally, construction of new near sea structures and chemical facilities that necessitate the installation of Fibre-reinforced plastic (FRP) products to endure caustic atmosphere and winds.

In June 2020, BP published Statistical Review of World Energy 2020, stating that the total global oil refinery throughput equaled 82.99 million barrels per day (MBPD) in 2019, rising from 80.22 MBPD in 2019 observing about 3.2% increment.

 

The market in North America is favored mainly with the presence of long-standing FRP cable tray manufacturers along with growing industrial operations. Additionally, the regional expansion is supported by the growing investments by various oil & gas majors in exploring onshore and offshore reservoirs along with discovering new conventional and unconventional reserves.

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