Basalt Fiber Market worth $200 Million by 2020

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MarketsandMarkets Presents
Basalt Fiber Market worth 200 Million by 2020

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The report Basalt Fiber Market by Type
(Continuous and Discrete), By Application
(Building Construction, Automotive, Wind
Energy, Electronics, Marine, and others), and By
Region - Global Trends and Forecasts to 2020
defines and segments the basalt fiber market with
an analysis and forecast of the volumes and
values of types i.e. continuous and discrete
individually. Browse gtgt 79
data tables 52 figures
160 pages and in-depth TOC on
Basalt Fiber Market http//www.marketsandmarke
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The global basalt fiber market is estimated to
grow at a CAGR of 13.1 from 2015 to 2020. At the
estimated growth rate, the market is expected to
be worth 200 million by 2020. Along with this,
the volume value of materials by applications
such as building construction, electronics,
automotive, wind energy, marine and others are 
also discussed. It also identifies the driving
and restraining factors for the basalt fiber
market with an analysis of trends, opportunities,
burning issues, and winning  imperatives. The
market is segmented and the volume value have
been forecasted on the basis of major regions
such as North America, Asia-Pacific, Europe, and
Rest of the World (ROW). Increase in demand of
basalt fibers from various application
industriesComprised of single-ingredient raw
material melt, basalt fibers are superior to
other fibers in terms of thermal stability, heat
and sound insulation properties, vibration
resistance and durability. Basalt fibers and
composites have potential advantages for
application in construction, compared with
conventional structural and the other fiber
materials.
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The fields of applications of basalt fiber
products are extremely broad, depending on the
specific properties of the fiber, including
automotive, sporting goods, boat building, wind
turbine blades, and civil engineering. In wind
turbine blade and boat-building applications,
basalt rovings are used to produce woven, and
multiaxial fabrics. Here, the high corrosion
resistance and high mechanical properties of
basalt play the main role. So there is increase
in demand of basalt fibers depending upon the
specific need and requirement. Global basalt
fiber market was approx. More than 100 million
in 2014The market for basalt fiber in terms of
value is expected to grow at a significant CAGR
from 2014 to 2019. The Asia-Pacific region is
expected to grow at a higher CAGR, from 2014 to
2020. Large building construction industry and
increasing automotive and wind energy in
Asia-Pacific region is expected to drive the
basalt fiber market. Electronic industry is also
one of the growing potential application industry
of basalt fiber.
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Europe North America accounted for more than
60 share in the basalt fibre market in terms of
value in 2013North America has a large appetite
for consumption of basalt fibre globally followed
by Europe. Europe and North America together
accounted for more than 60 of the basalt fiber
in terms of value in 2014. Asia-Pacific is also
expected to grow at a highest CAGR and have a
significant market share by 2020, with developing
new application areas in aerospace and automotive
market. In Europe the use of basalt fiber
continues to increase in automotive industries to
replace the other conventional composites in
order to have performance benefits.
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