Global Basalt Fiber Market – Industry Analysis and Forecast (2019-2027)
Global Basalt Fiber Market was valued US$ XX Bn in 2019 and is expected to reach XX Bn by 2027, at a CAGR of XX % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Global Basalt Fiber Market Dynamics:
Since the last decade, basalt fibers has developed as one of the strong competitor in fiber reinforcement composites. Basalt fibers have better physicomechanical properties than fiberglass, and considerably economical than carbon fiber.
Increasing demand for technical textile across construction and manufacturing setups is expected to drive the global basalt fiber market growth. Shifting preference of consumers towards basalt fiber reinforced polymer (BFRP) bars as a substitute for steel reinforcements in the construction sector is expected to boost the growth in the basalt fiber market. Factors like environmentally friendly and easily recyclable material enhanced physical, mechanical, and chemical properties, which are offered by basalt fiber.
The dominant position in the market is attributed to increase demand for continuous basalt fibers owing to efficiency and environment-friendly nature. These fibers are predominantly employed in the construction industry because of high strength than steel, also they are resistant to electromagnetic radiations, ultraviolet rays and are preferred for soil and embankment stabilization. Equipment innovations, raw material development, and new techniques are projected to open new market opportunities for the basalt fiber industry.
The construction & infrastructure segment is expected to grow at a XX% rate of CAGR during the forecast period. Growing population, rapid urbanization and the presence of government support are some of the prominent factors, which are expected to increase demand for basalt fiber in the construction & infrastructure segment. Basalt fiber is widely used in the construction & infrastructure owing to its high strength and non-corrosive properties. The demand for basalt fiber is increasing owing to its environmentally friendly properties, good compatibility with concrete, and easy mixing at high concentration.
Growing environmental concerns have elicited a paradigm shift towards material compatible with the environment among key players. Factors like low cost, high mechanical & chemical strength are expected to propel the product penetration rate. Growing demand for naturally derived fibers over synthetically produced expected to create new growth opportunities for industry key players.
Global Basalt Fiber Market Regional Insights:
Asia Pacific region is projected to be a leading region in the basalt fiber market. The leading position in the market is attributed to the growing population, increasing urban development, and favorable trade policies. Increasing construction expenditure owing to speedy infrastructure expansion and the presence of a strong automotive sector is expected to drive the regional demand.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments and, project the global basalt fiber market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global basalt fiber market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Global Basalt Fiber Market, Key Highlights:
• Global Basalt Fiber Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of
the Global Basalt Fiber Market
• Global Basalt Fiber Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Basalt Fiber Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Basalt Fiber Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Basalt Fiber Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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The Scope of the Report for Global Basalt Fiber Market: Inquire before buying
Global Basalt Fiber Market, By Usage Type
• Basalt Fiber in Composites
• Basalt Fiber in Non-Composites
Global Basalt Fiber Market, By Form
• Continuous Basalt Fiber
• Discrete Basalt Fiber
Global Basalt Fiber Market, By End-Use Industry
• Construction & Infrastructure
• Automotive & Transportation
• Electrical & Electronics
• Wind Energy
• Marine
• Others
Global Basalt Fiber Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Basalt Fiber Market Key player
• Incotelogy GMBH
• Sudaglass Basalt Fiber Technology
• Shanxi Basalt Fiber Technology Co. TD
• Mudanjiang Jinshi Basalt Fiber Co. Ltd
• Fiberbas Construction and Building Technologies
• Liaoning Jinshi Technology Group Co., Ltd.
• Kamenny VEK
• Zhejiang GBF Basalt Fiber Co.
• Mafic SA
• Technobasalt-Invest LLC
• Russian Basalt
• ISOMATEX S.A.
• Jiangsu Green Materials Vally New Material T&D Co., Ltd (GMV)
• Yingkou Hongyuan Fiberglass Technology Co., Ltd.
• Jilin Province Huayang New Composite Material Co., Ltd.
• Basalt Technology UK Limited
• Sichuan Aerospace Tuoxin Basalt Industrial Co., Ltd
• ASA. Tec GmbH
• Sichuan Fiberglass Group Co., Ltd.
• Nmg Composites Co., Ltd
• GMV
• Galen
• Basaltex
• Arrow Technical Textiles Pvt. Ltd
• ARMBAS
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