The global basalt fiber market is expected to reach USD 447.6 Million by 2026, according to a new report by Reports and Data. Basalt, a kind of igneous rock, is formed by the fast cooling of lava at the surface of the earth. It is the most commonly found rock in the Earth's crust and basalt deposits with uniform chemical makeup form high-quality basalt fibers. Increasing demand for basalt fibers across various end-use industries such as construction, automotive, aerospace & defense, and electronics is estimated to drive market growth. Growing environmental concerns have initiated a paradigm swing to material compatible with the environment among manufacturers. Moreover, aspects including low cost, high mechanical & chemical strength are expected to fuel the product penetration rate. Surging demand for naturally derived fibers over synthetically produced is anticipated to create new growth opportunities for industry participants.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/basalt-fiber-market
Further key findings from the report suggest
- Continuous basalt fibers are projected to witness a higher growth rate of 11.1% in the forecast period. Continuous basalt fiber is extensively used in the construction and composites industry. The combination of high mechanical properties, resistance to harsh media, and high temperatures, makes the basalt fiber a suitable alternative for fibrous materials and metal.
- Key participants include Kamenney VEK, Zhejiang GFB Basalt Fiber Co., Mafic SA, Technobasalt-Invest LLC, Russian Basalt, ISOMATEX S.A., INCOTELOGY GmbH, Sudaglass Basalt Fiber Technology, Shanxi Basalt Fiber Technology Co. Ltd., and Mudanjiang Jinshi Basalt Fiber Co. Ltd, among others.
For the purpose of this report, Reports and Data have segmented the global basalt fiber market on the basis of product type, form, usage type, application, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Fabric
- Roving
- Chopped Strands
- Mesh & Grids
- Others
Form Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Continuous
- Discrete
Usage Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Composite
- Non-Composite
Application Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Construction
- Automotive
- Aerospace & Defense
- Electrical & Electronics
- Chemical
- Marine
- Others
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