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 reached a value of 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.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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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.
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 GmbH
- Basaltex NV
- INCOTELOGY GmbH
- Isomatex
- Kamenny Vek
- Mafic
- Shanxi Basalt Fiber Technology Co. Ltd
- sjn AG Suchmaschine der Technik
- Sudaglass Fiber Technology
- Technobasalt-Invest LLC
- Zhejiang 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:
- Rebar
- Fabric
- Roving
- Chopped Strands
- Mesh and Grids
- Others
Breakup by Type:
- Composites
- Non-Composites
Breakup by Form:
- Continuous
- Discrete
Breakup by Method:
- Pultrusion
- Prepregs
- Compression Moulding
- Hand Layup
- Resin Moulding
- Vacuum Infusion
- Spray Gun
- Filament Winding
- Others
Breakup by End Use Industry:
- Automotive and Transportation
- Construction and Infrastructure
- Electrical and Electronics
- Wind Energy
- Marines
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If 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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