Covina, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Basalt fiber is newcomer to FRPs (fiber reinforced polymers) and structural composites. Basalt fiber has similar chemical composition as glass fiber. Basalt consists of pyroxene, magnesium silicates, iron, and calcic plagioclase. Basalt fiber has better strength characteristics, good for concrete, bridge & shoreline structures, highly resistant to acidic, alkaline and salt attacking, higher shear strength, higher radiation resistance, higher oxidation resistance, etc. Basalt is type of igneous rock which was formed by rapid cooling of lava at surface of planet. Basalt is most common type of rock in Earth’s crust. From basalt deposits high quality fibers are made with uniform chemical makeup. For manufacturing fiber crushed basalt rock is required. Basalt fibers has wide range of applications which includes, automotive, sporting goods, civil engineering, wind turbine blades, boat building, construction, electronics, aerospace & defense, etc. Toyota car mufflers uses heat-resistant basalt fiber. High quality basalt roving, cutting strands, cloth are used in production of CNG cylinders, mufflers, brake pads, headliners, etc. in automotive industries. Basalt fiber products are used for chemical & wear resistant protective coatings for pipelines, tanks, waste water filters, high pressure vessels and corrosion resistant tanks and pipes. Basalt fiber can be recycled. Basalt fiber has high elastic modulus, high specific strength. BFRPs (basalt fiber reinforced polymers) bar is a composite material which consists of rigid polymer resins that are bounding unidirectional basalt fibers. Basalt rebar reinforcement has become an alternative to fiberglass & steel for reinforcing concrete. Basalt rebar is made from volcanic rock and thus it is stronger, tougher and with higher tensile strength than steel. Basalt is used in engineering in casting processes for making slabs and tiles for architectural applications. Wide applications has given rise in target market growth. Basalt Fiber Market accounted for US$ 287 million in 2022 and is estimated to be US$ 920.12 million by 2032 and is anticipated to register a CAGR of 12.5%.
The report “Basalt Fiber Market, By Type (Composites, Non-Composites), By Form (Discrete, Continuous), By Application (Marine, Building & Construction, Automotive, Aerospace & Defense, Electronics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
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Key Highlights:
- In June 2019, Anisoprint has launched new basalt fiber for continuous fiber 3D printing. Newly launched material is 15 times stronger than plastic, 1.5 times stronger and lighter than aluminum, and five times lighter than steel. Newly launched product has become an ideal option for isolators and non-conductive elements.
- In April 2021, Kamenny Vek has started production of basalt assembled roving 18 micron 4800 tex, basalt direct roving 22 microns 2400 tex and basalt assembled roving 18 micron 3000 tex.
Analyst View:
Basalt fiber has great potential to be next generation of materials. Basalt fibers are superior and has excellent physical and chemical properties than other fibers. Basalt fiber are naturally occurring, environmental friendly and non-toxic substance. Basalt fiber are widely used in building and construction, and automotive industries. Basalt has become important in industrial use due to its excellent chemical, mechanical and thermal performance. Basalt has gained importance and an increasing attention as reinforcing material. Wide applications and excellent beneficial properties and rising its demand in industries has given boosts to the Basalt Fiber market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on“Basalt Fiber Market, By Type (Composites, Non-Composites), By Form (Discrete, Continuous), By Application (Marine, Building & Construction, Automotive, Aerospace & Defense, Electronics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”
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Key Market Insights from the report:
Basalt Fiber Market accounted for US$ 287 million in 2022 and is estimated to be US$ 920.12 million by 2032 and is anticipated to register a CAGR of 12.5%. The Basalt Fiber Market is segmented based on Type, Form, Application and Region.
- Based on Type, Basalt Fiber Market is segmented into Composites, Non-Composites.
- Based on Form, Basalt Fiber Market is segmented into Discrete, Continuous.
- Based on Application, Basalt Fiber Market is segmented into Marine, Building & Construction, Automotive, Aerospace & Defense, Electronics, and others.
- By Region, the Basalt Fiber Market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Competitive Landscape & their strategies of Basalt Fiber Market:
The prominent players operating in the Basalt Fiber Market includes, Kamenny Vek, Technobasalt-Invest LLC., Mafic SA, ISOMATEX, Sudaglass Fiber Technology, Jiangsu Green Materials Vally New Material T&D Co., Hengdian Group, Basaltex NV, Mokwheel, and others.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
Scope of the Report:
- Basalt Fiber Market, By Type
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Composites
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Non-Composites
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Basalt Fiber Market, By Form, 2022 – 2032, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Discrete
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Continuous
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Basalt Fiber Market, By Application, 2022 – 2032, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Marine
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Building & Construction
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Automotive
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Aerospace & Defense
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Electronics
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
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