A recent report published by Infinium Global Research on basalt fiber market provides in-depth analysis of segments and sub-segments in the global as well as regional basalt fiber market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional basalt fiber market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global basalt fiber market. According to the report, the global basalt fiber market is projected to grow at a CAGR of 9.8% over the forecast period of 2019-2025.
Basalt fiber is a good quality fiber material, made from best fibers of basalt. It has the same chemical composition as fiberglass but has better strength quality as compared to the fiberglass. It is a good resistant to acidic, alkaline and salt attack, which facilitates its application for concrete, bridge and shoreline structures. It has wider application temperature range -452° F to 1,200° F, higher radiation resistance, higher oxidation resistance, higher shear strength, and higher compression strength owing to these properties it has wider applications in infrastructure, construction, automotive, transportation, electronic and electric industries.
The growing application of basalt fiber in the construction and infrastructure sector is helping to grow the demand for basalt fiber market around the world. Owing to its high strength and the non-corrosive property its application in the construction and infrastructure industry is growing rapidly in developed and developing countries. Additionally, it's other beneficial qualities such as the environment-friendly product, good mixing capability with concrete is making it most favored the raw material ingredient for construction and infrastructure industry. Further, the growing application of basalt fiber in the automotive industry is helping to boost the demand of the basalt fiber products in the developing countries as India, China. Owing to its unique and amazing resisting power for varying degree of temperature, good resisting power from different chemical material, high mechanical strength, and durability its demand is growing in wind energy, automotive, electronics and electrical, and other industries.
The Asia-Pacific market is the leading market of basalt fiber, owing to the growing demand of the basalt fiber in numerous sector as automotive, wind energy, electrical and electronics and construction and infrastructure industry. China is the leading market in the Asia-Pacific region. Additionally, the new technology developed in China, which is more focused on the manufacturing of low-cost continuous basalt fiber is expected to catalyze the demand of the basalt fiber in the world. North America is the second largest market after Asia-Pacific, owing to the growing demand for basalt fiber for the construction & infrastructure, and automotive sector.
The report on global basalt fiber market covers segments such as form, end-use industry, and usage. On the basis of form, the sub-markets include continuous and discrete. On the basis of end-use industry, the sub-markets include construction and infrastructure, automotive and transportation, electrical and electronics, marine, and other End-use Industry. On the basis of usage, the sub-markets include composites and non-composites.
The report provides profiles of the companies in the market such as Basalt Technology UK Limited., Shanxi Basalt Fiber Technology Co., Ltd, Sudaglass Fiber Technology, INCOTELOGY GmbH, Isomatex, Basalt Projects Company, TECHNO BASALT-INVEST LLC, MAFIC, Zhejiang GBF Basalt Fiber Co., Ltd, and Kamenny Vek.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of basalt fiber market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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