Fact.MR has adopted multi-disciplinary approach to shed light on the evolution of the global basalt fiber market during the historical period of 2013 – 2017. The study presents a deep-dive assessment of the current growth dynamics, major avenues in the estimation year of 2019, and key prospects over the forecast period 2018 – 2026.
Light weight composite materials are increasingly used in automotive industry to manufacture different components. Manufacturing of different aircraft bodies’ continuously increase the demand for basalt fibers. Basalt rock is crushed and melted to create basalt fiber. The production process is eco-friendly in nature which does not emit any harmful radiation. Basalt fibers are eyed as viable alternative of finer reinforcements and steel that have been used conventionally. It is demanded for its excellent properties in terms of mechanical strength and thermal behavior.
Europe leads the global market for basalt fiber in production along with consumption. Russia holds a prominent position in the European Basalt fiber market. Automotive industry in the region is major consumer of basalt fiber owing to the stringent regulations formed by EU in association with emissions from vehicles and greenhouse gases emissions. Growth in concern regarding energy conservation has positively influenced the growth in the renewable wind energy segment. This creates a huge momentum in global basalt fiber market. The North American market for Basalt fiber is anticipated to expand at 8.3% CAGR in the coming years. Relatively, China is projected to grow at a higher CAGR in the near future. Numerous new players have entered the Basalt fiber market in China and other regions near it. Fact.MR report highlights regions including MEA and Latin America to be the regions that will witness high growth in spite of low volume during the forecast years.
After reading the basalt fiber market report, readers get insight into:
- Major drivers and restraining factors, opportunities and challenges, and the competitive landscape
- New, promising avenues in key regions
- New revenue streams for all players in emerging markets
- Focus and changing role of various regulatory agencies in bolstering new opportunities in various regions
- Demand and uptake patterns in key industries of the basalt fiber market
- New research and development projects in new technologies in key regional markets
- Changing revenue share and size of key product segments during the forecast period
- Technologies and business models with disruptive potential
The basalt fiber market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period. Key regions covered comprise:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico)
- Europe (U.K., Germany)
- APEJ (China, India)
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The evaluation of the competitive landscape in the basalt fiber market covers the profile of the following top players:
- TECHNOBASALT-INVEST LLCOverview
- BASALTEX NV
- Sudaglass Fiber Technology
- Zhejiang GBF Basalt Fiber Co., Ltd (GBF)
- Kamenny Vek
- Shanxi Basalt Fiber Technology Co., Ltd
- JiangSu Tianlong Continuous Basalt Fuber Co.Ltd
- Mafic SA
- Isomatex SA
- Shanxi Basalt Fibre Technology Co., Ltd
To expand the understanding of opportunities in the global basalt fiber market report looks at close quarters into the opportunities and new avenues in following key segments:
- Building and Construction
- Automotive
- Aerospace and Defense
- Ship Building
- Wind Energy Generation
- Sports accessories and others
In addition to understanding the demand patterns of various end users, the report on the basalt fiber market also enumerates trends expected to attract investments by other various associated industries.
Basalt fibers are known to have different enhanced properties like mechanical strength, thermal resistance, chemical resistance and insulation. Different positive attributes like excellent corrosion properties along with light-weight nature makes basalt fiber a better material than steel reinforcements. Basalt fibers are preferred over e-glass fibers also as composites which are used in construction. Basalt fiber exhibits great qualities like excellent breaking load capacity and enhanced stiffness. Basalt fibers are cheap as the raw materials procurement is considered to be very easy. All these factors are projected to collectively surge the demand for Basalt fibers in the coming years.
Enhanced use of light-weight materials in industries like automotive industry is expected to drive the global market for basalt fiber. The steep growth and application rate of basalt fiber faces challenges in terms of production as its chemical composition is found only in specific regions of Eastern Europe.
On the basis of product type, the basalt fiber market report offers insight into major adoption trends for the following segments:
- Roving
- Chopped strands
- Fabric
- Mesh and grid
The global basalt fiber market report offers detailed assessments and quantitative evaluations that shed light on numerous key aspects that have shaped its evolution over the historical period. In coming years, some o