Global Basalt Fiber Market was valued US$ XX Bn in 2018 and is expected to reach XX Bn by 2026, at a CAGR of XX % during a forecast period.
Global Basalt Fiber Market
Since the last decade, basalt fibers has developed as one of the strong competitor in fiber reinforcement composites. Basalt fibers have better physicomechanical properties than fiberglass, and considerably economical than carbon fiber.
Increasing demand for technical textile across construction and manufacturing setups is expected to drive the global basalt fiber market growth. Shifting preference of consumers towards basalt fiber reinforced polymer (BFRP) bars as a substitute for steel reinforcements in the construction sector is expected to boost the growth in the basalt fiber market. Factors like environmental friendly and easily recyclable material enhanced physical, mechanical, and chemical properties, which are offered by basalt fiber.
The dominant position in the market is attributed to increase demand for continuous basalt fibers owing to efficiency and environment-friendly nature. These fibers are predominantly employed in the construction industry because of high strength than steel, also they are resistant to electromagnetic radiations, ultraviolet rays and are preferred for soil and embankment stabilization. Equipment innovations, raw material development, and new techniques are projected to open new market opportunities for the basalt fiber industry.
The construction & infrastructure segment is expected to grow at a XX% rate of CAGR during the forecast period. Growing population, rapid urbanization and the presence of government support are some of the prominent factors, which are expected to increase demand for basalt fiber in the construction & infrastructure segment. Basalt fiber is widely used in the construction & infrastructure owing to its high strength and non-corrosive properties. The demand for basalt fiber is increasing owing to its environmentally friendly properties, good compatibility with concrete, and easy mixing at high concentration.
Growing environmental concerns have elicited a paradigm shift towards material compatible with the environment among key players. Factors like low cost, high mechanical & chemical strength are expected to propel the product penetration rate. Growing demand for naturally derived fibers over synthetically produced expected to create new growth opportunities for industry key players. Asia Pacific region is projected to be a leading region in the basalt fiber market. The leading position in the market is attributed to the growing population, increasing urban development, and favorable trade policies. Increasing construction expenditure owing to speedy infrastructure expansion and the presence of a strong automotive sector is expected to drive the regional demand.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global basalt fiber market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global basalt fiber market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
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The Scope of the Report for Global Basalt Fiber Market
Global Basalt Fiber Market, By Usage Type
• Basalt Fiber in Composites • Basalt Fiber in Non-Composites Global Basalt Fiber Market, By Form
• Continuous Basalt Fiber • Discrete Basalt Fiber Global Basalt Fiber Market, By End-Use Industry
• Construction & Infrastructure • Automotive & Transportation • Electrical & Electronics • Wind Energy • Marine • Others Global Basalt Fiber Market, By Region
• North America • Europe • Asia Pacific • Middle East & Africa • South America Key players operating in Global Basalt Fiber Market
• Incotelogy GMBH • Sudaglass Basalt Fiber Technology • Shanxi Basalt Fiber Technology Co. TD • Mudanjiang Jinshi Basalt Fiber Co. Ltd • Fiberbas Construction and Building Technologies
• Liaoning Jinshi Technology Group Co., Ltd. • Kamenny VEK • Zhejiang GBF Basalt Fiber Co. • Mafic SA • Technobasalt-Invest LLC • Russian Basalt • ISOMATEX S.A. • Jiangsu Green Materials Vally New Material T&D Co., Ltd (GMV) • Yingkou Hongyuan Fiberglass Technology Co., Ltd. • Jilin Province Huayang New Composite Material Co., Ltd. • Basalt Technology UK Limited • Sichuan Aerospace Tuoxin Basalt Industrial Co., Ltd • ASA. Tec GmbH • Sichuan Fiberglass Group Co., Ltd. • Nmg Composites Co., Ltd
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