According to IMARC Group’s latest report, titled “Basalt Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global basalt fiber market size reached US$ 300.8 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 565.7 Million by 2027, exhibiting at a CAGR of 10.7% during 2022-2027.
Basalt fiber refers to naturally occurring reinforced composites and polymers. They are processed and composed of pyroxene and various minerals, including plagioclase and olivine. As compared to glass and carbon fibers, basalt fiber exhibits higher tensile strength, resistance to combustion and superior electromagnetic properties and offers better thermal protection and lower hygroscopic quotient. Consequently, it is extensively used as a composite to produce tubes, bars, pipes, cameras, tripods, and multiple constructions and automotive parts.
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Market Trends and Drivers:
One of the key factors driving the basalt fiber market growth is the increasing number of construction activities across the globe. This is further supported by the rising investments in various infrastructural projects, coupled with the growing need for better performance building materials. Basalt fiber is widely incorporated as a strengthening agent in concrete mixes, road bases, railroad ballast, and filter stone in drain fields. Moreover, the rising environmental concerns have promoted the uptake of sustainable construction materials, such as basalt fiber, which is propelling the market growth. Apart from this, the shifting inclination of manufacturers toward basalt fiber reinforced plastic (BFRP) over steel rebar to extend the shelf-life of civil engineering structures is contributing to the market growth.
Basalt Fiber Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the basalt fiber market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
ASA.TEC GmbHBasaltex NVINCOTELOGY GmbHIsomatexKamenny VekMaficShanxi Basalt Fiber Technology Co. Ltdsjn AG Suchmaschine der TechnikSudaglass Fiber TechnologyTechnobasalt-Invest LLCZhejiang Hengdian Imp. & Exp. Co. Ltd.Key Market Segmentation:
The report has segmented the global basalt fiber market on the basis of product, type, form, method, end use industry and region.
Breakup by Product:
RebarFabricRovingChopped StrandsMesh and GridsOthersBreakup by Type:
CompositesNon-CompositesBreakup by Form:
ContinuousDiscreteBreakup by Method:
PultrusionPrepregsCompression MouldingHand LayupResin MouldingVacuum InfusionSpray GunFilament WindingOthersBreakup by End Use Industry:
Automotive and TransportationConstruction and InfrastructureElectrical and ElectronicsWind EnergyMarinesOthersBreakup by Region:
North AmericaAsia PacificEuropeLatin AmericaMiddle East and AfricaAsk Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2618&flag=C
Key Highlights of the Report:
Market Performance (2016-2021)Market Outlook (2022-2027)Market TrendsMarket Drivers and Success FactorsImpact of COVID-19Value Chain AnalysisComprehensive mapping of the competitive landscapeIf you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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