Basalt Fiber Market Top Companies, Trends and Future Details for Business Opportunity 2023-2028

Author: Elena Anderson

Marketing Manager

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Global Basalt Fiber Market Research Report 2023-2028:

According to the latest report by IMARC Group, titled " Basalt Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2 028

," the global basalt fiber market reached a value of US$ 340.5 Million in 2022.

Basalt fiber refers to a product derived from naturally occurring complex basalt rock. It is very similar to glass in composition and is considered to be an excellent alternative to glass fiber and carbon fiber. It is composed of pyroxene and minerals, including plagioclase and olivine. It is characterized by high structural integrity and excellent mechanical properties.

It is also widely used for its high tensile and impact strength, a wide range of thermal performance and superior electromagnetic properties. Commonly used as a replacement for asbestos, it is employed in numerous industries, such as electrical, construction and automotive sectors, due to its exceptional adhesive capabilities, excellent resistance to chemicals and ultraviolet (UV) radiations, and low hygroscopic quotient..

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Global Basalt Fiber Market Trends:

The global market is primarily driven by considerable growth in the construction sector. This can be accredited to rapid industrialization and significant expansion of residential spaces. Since basalt fibers are highly cost-efficient with excellent physical properties, they are widely utilized by builders as an essential building material. This is also supported by the favorable initiatives undertaken by several governments to promote the use of these fibers for construction purposes across the commercial, residential and industrial segments. Moreover, the increasing utilization of discrete basalt fiber in the automotive and aerospace industries is also acting as a major growth-inducing factor.

These materials are widely employed as preferable substitutes for steel and other fiber reinforcements in the manufacturing of light-weight automobile and aircraft components, thereby creating a positive outlook for the market. The market is further driven by the introduction of basalt fiber reinforced plastic (BFRP) in the market, which is extensively employed in building activities due to its excellent corrosion-resistant property. Some of the other factors contributing to the market include the launch of recyclable and eco-friendly basalt fiber and the continual research and development (R&D) activities conducted by key players.

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On account of the aforementioned factors, the market is expected to grow at a CAGR of 8.7% during 2023-2028. View Report TOC, Figures and Tables: https://www.imarcgroup.com/basalt-fiber-market

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Key Market Segmentation

The research report includes the following segments:

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

Competitive Landscape with Key Players:

• 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.

1. What was the size of the global basalt fiber market in 2022?

2. What is the expected growth rate of the global basalt fiber market during 2023-2028?

3. What has been the impact of COVID-19 on the global basalt fiber market?

4. What are the key factors driving the global basalt fiber market?

5. What is the breakup of the global basalt fiber market based on the product?

6. What is the breakup of the global basalt fiber market based on the type?

7. What is the breakup of the global basalt fiber market based on the form?

8. What is the breakup of the global basalt fiber market based on the method?

9. What is the breakup of the global basalt fiber market based on the end use industry?

10. What are the key regions in the global basalt fiber market?

11. Who are the key players/companies in the global basalt fiber market?

Click here to visit the complete table of content with list of figures and tables: https://www.imarcgroup.com/basalt-fiber-market/toc

A partial List of our Clients

Partial List of Clients

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A partial List of our Clients

Partial List of Clients

We are the trusted business partners to the world's leading corporates, governments, and institutions

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