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The objective of the Basalt Composites Market report is to offer updated information such as the market share, size, trends, emerging markets, earnings, forecasts, and data on leading industry players. This study includes significant and vital information necessary for strategic decision making and have a competitive edge.
In view with the current pandemic analysts at Stratview Research has thoroughly analyzed and presented the following parameters under the detailed Covid – 19 impact analysis in the Basalt Composites Market.
Market Insights – The Basalt Composites Market is projected to grow from USD 6.36 billion in 2022 to USD 8.69 billion by 2028 at a CAGR of over 5.3% during the forecast period.
Few key players operating in the Basalt Composites Market are-
Technobasalt,
GBF Basalt Fiber Co. Ltd,
Asamer Basaltic Fibers,
Sudaglass Fiber Technology
Growth drivers and Market Value:
This report, from Stratview Research, studies the Basalt Composites Market value and growth drivers over the trend period of 2022-27. According to the report -
Basalt composites contain basalt fibers as a reinforcement and epoxy or polyester resin system as a matrix. Basalt fibers are produced from hard and dense volcanic rock that are abundantly available in most of the countries across the globe. Currently, Russia and Ukraine are the largest producers of basalt fibers worldwide. There is also a remarkable work going on related to the production of basalt fibers in China. At present, most of the Chinese players are running at very low production capacity which is expected to increase over the next five years.
Recently, industry noticed an increasing interest in the development of basalt composites for acidic and corrosion applications, such as rebar and seawall for sea shore applications. This is driving composite parts fabricators to develop parts with basalt composites. The global basalt composites market is expected to experience an impressive CAGR of >8% during the forecast period of 2020 to 2025. Higher performance than e-glass composites, excellent corrosion resistance, and technology development are some of the major growth drivers of basalt composites market.
Segment Analysis:
Based on End-Use Industry Type:
Building and construction segment is expected to remain the largest end industry for basalt composites during the forecast period. The segment is also likely to experience the fastest growth over the next five years. Basalt composite based rebar is one of the most attractive applications in building & construction segment. Transportation segment is also likely to experience a healthy growth rate over the next five years.
Based on Region:
Europe is expected to remain the largest market for basalt composites during the forecast period. Russia and Ukraine drive the demand of basalt composites market in the European region. There are several composite part fabricators in Russia and Ukraine using basalt composites and serving various industries. Asia-Pacific is the fastest growing market for basalt composites. China is the growth engine of the Asia-Pacific market during the forecast period. Market entry of several players and high focus on basalt composites are likely to drive the demand in China.
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Critical Questions Answered in the Report
l What are the key trends in the global Basalt Composites Market?
l How the Basalt Composites Market (and its various sub-segments) has grown in the last five years?
l What would be the growth driver and growth rate in next five years?
l What is the impact of COVID-19 on the Basalt Composites Market?
l What are the key strategies adopted by the major vendors to lead in the Basalt Composites Market?
l What is the market share of the key players?
Target Audience
The following is a list of the customers that the Basalt Composites Market aims to convert the most:
l Manufacturing Organizations
l Distributors & Suppliers
l Potential Investors
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