Title: Basalt Fiber Market - Forecast (2022 - 2027)
1Basalt Fiber Market Market size, Industry
outlook, Market Forecast, Demand Analysis, Market
Share, Market Report (2022 - 2027)
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- Basalt Fiber Market size is forecast to
reach 429 million by 2025, after growing at
a CAGR of 11.2 during 2020-2025. - Basalt fiber is gaining popularity owing to its
excellent properties, such as thermal and cold
resistance, tensile strength, and chemical
resistance to corrosion compared to Fiberglass
and other FRP products. - It is also environmentally friendly and easily
recyclable. Low energy consumption, low cost of
basalt, and associated process equipment, high
durability and resulting fiber strength,
increased demand for high chemical-resistant
fibers are driving the market growth of basalt
fiber.
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Key Takeaways
- Asia Pacific dominates the basalt fiber market,
owing to the increasing demand from the
automotive transportation industries. According
to OICA, the production of light commercial
vehicles has augmented by 10.2 in 2018 in the
APAC region. - Increased use of basalt fiber in nuclear
applications is likely to increase the demand for
basalt fiber. Basalt fiber does not absorb
nuclear radiation. This makes it suitable for use
in the processing and transport of radioactive
materials used in nuclear power plants. Thus, the
demand for basalt fiber in nuclear applications
is high.
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- By Distribution Channel- Segment Analysis
- The construction infrastructure segment held
the largest share in the basalt fiber market in
2019 and is growing at a CAGR of 11.6 during the
forecast period, owning to increased application
of basalt fiber in the construction
infrastructure segment due to its high strength,
non-corrosive properties, environmentally
friendly properties, good compatibility with
concrete, and easy mixing at high concentration. - Basalt fiber provides higher mechanical strength
that is required for construction in extreme
conditions.
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- Basalt Fiber Market Industry Outlook
- Basaltex NV,
- Sudaglass Fiber Technology Inc.,
- Kamenny Vek, Zhejiang GBF Basalt Fiber Co., Ltd,
- Technobasalt Invest LLC,
- Shanxi Basalt Fiber Technology Co., Ltd,
- JiangSu TianLong Continuous Basalt Fiber
High-tech Co., Ltd., - Jiangsu Green Materials Vally New Material TD
Co., Ltd, - Mafic SA,
- and Mineral 7 CJSC, among others.
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Basalt Fiber Market - Forecast(2022 -
2027) Learn More About the Report
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-fiber-market.html
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- Data Tables
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