Global Basalt Fiber Market 2018-2023

Global Basalt Fiber Market is anticipated to grow significantly in the forecast period due to increase in demand from marine, electronics, building & construction and automotive industries. Basalt fiber is a relatively new element in the group of structural composites and (FRPs) fiber reinforced polymers. It is gaining traction due to features like abrasion resistance, high temperature, and environment friendliness. In comparison to other types of fibers, the production cost basalt fibers is very low. In multiple applications basalt fibers are an ideal material because of unique combination of their chemical and physical properties.

Basalt fiber market is witnessing growth due to explosion in automotive sector, especially from the developing economies like China, India, and Brazil. Moreover, rising application of basalt fiber as a substitute for reinforced composites, improved mechanical and physical properties along with cost, and spurring demand from civil and industrial construction are expected to drive the market. However, risk of growing substitutes and limited number of suppliers are predicted to hamper the growth of basalt fiber market.

The need for increased energy efficiency of equipment and new types of basalt is being discovered are expected to offer lucrative opportunities to the market in the near future. Basalt fiber market is categorized on the basis of type, manufacturing technique, end user, and geography. On the basis of type, basalt fiber market is divided into continuous and discrete. Continuous segment leads the market owing to eco-friendly nature and efficiency.

Based on application, basalt fiber market is split into construction, automation, chemical, and aerospace. Construction industry followed by automotive industry is projected to hold larger share of basalt fiber market due to increasing demand from several applications. Geographically, the market is segmented as North America, South America, Europe, Asia Pacific and Middle East & Africa. North America is expected to dominate the market owing to increasing technological developments in industries like automotive. The leading participants in basalt fiber market include Sudaglass Fiber Technology, Zhejiang GBF Basalt Fiber Co., Ltd, BASALTEX NV, Mafic SA, GMVChina, Shanxi Basalt Fiber Technology Co., Ltd. and Technobasalt.

Global basalt fiber market is anticipated to grow at a CAGR of 10.69% by 2023, according to a new report published by Gen Consulting Company. The report segments the market and forecasts its size, by volume and value, on the basis of application, by products, and by geography (North America, Europe, Asia-Pacific, MEA and South America).

The Global Market for basalt fiber to 2023 offers detailed coverage of basalt fiber industry and presents main market trends. The market research gives historical and forecast market size, demand and production forecasts, end-use demand details, price trends, and company shares of the leading basalt fiber producers to provide exhaustive coverage of the basalt fiber.

Report contents include
- Analysis of the basalt fiber market including revenues, future growth, market outlook
- Historical data and forecast
- Regional analysis including growth estimates
- Analyzes the end user markets including growth estimates.
- Profiles on basalt fiber including products, sales/revenues, and market position
- Market structure, market drivers and restraints.

Key regions
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America

Key Vendors
- Sudaglass
- Mafic
- Kamenny Vek
- Technobasalt-Invest
- Aerospace Tuoxin
- Shanxi Basalt Fiber
- GMV
- Jiangsu Tianlong
- Jilin Tongxin
- Jilin Jiuxin
- Zhejiang GBF
- request free sample to get a complete list of companies