Basalt fiber possesses similar chemical properties to glass fibers but have better physicochemical properties than glass fibers. The basalt fiber market is anticipated to witness high growth due to its demand from end-use industries such as automotive, marine, building & construction, and electronics. Increasing construction activities in several regions due to growth in population, growing income, and government initiatives in various economies to develop better infrastructure is likely to boost the growth of the basalt fiber market.
According to our most recent market research, “Basalt Fiber Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product (Roving, Chopped Strand, Twisted Yarn, Fabrics and Tapes, and Others) and End-Use Industry (Construction, Automotive, Electrical and Electronics, Chemical, and Others),” the market was valued at US$ 216.00 million in 2020 and is projected to reach US$ 427.14 by 2028, growing at a The report highlights key factors driving market growth as well as prominent market players and their market developments.
Basalt fibres are used in a variety of industries, including construction, automotive, electrical and electronics, chemical, aerospace, and marine. Chopped basalt strands are used in construction to increase the cracking resistance of cement panels. Because of the unique chemical stability of basalt fibre in extreme conditions, it can be used in many concrete structures such as bridges, tunnels, dams, and floors. High-quality basalt roving, fabrics, and chopped strands are used in the production of CNG cylinders, brake pads, mufflers, headliners, and other parts for interior applications in the automotive industry. Rapid growth in the automotive industry will create numerous opportunities for the basalt fibre market in the coming years. Basalt fibres are used in the chemical industry to make chemical-resistant pipes, protective coatings, and storage tanks for corrosive liquids, chemical fertilisers, acids, and toxic substances, among other things. Basalt fibres are also an excellent anti-radiation material. Basalt chopped strands are also used in the production of friction materials. Basalt fibres are used as fillers, braiding, tapes, and other components in fire resistant cable construction in electrical and electronics. Basalt fibres can be used as a heat-resistant insulating material in the production of printed circuit boards. Because of properties such as thermal stability and heat insulation, basalt fibres are used in the aerospace industry. Basal fibres can also be used in military and civilian applications. As the application of basalt fibres expands, market demand for basalt fibres is increasing at a faster rate. Thus, basalt fibre demand is being driven by the wide range of applications for basalt fibres in various end-use industries.
Basalt fibres have similar chemical properties to glass fibres but superior physicochemical properties. Basalt fibre is stronger, lighter, and more corrosion-resistant than steel rebar. It also outperforms glass in terms of chemical resistance and melting point. The basalt fibre market is expected to grow rapidly due to increased demand from end-use industries such as automotive, marine, building and construction, and electronics. Increasing construction activity in several regions due to population growth, rising income, and government initiatives in various economies to develop better infrastructure are likely to drive the basalt fibre market forward.
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Well-established players in the basalt fibre market include Kamenny Vek Company, Fiberbas Construction and Building Technologies, Hydro Design Management Co. Pvt. Ltd., Hg Gbf Basalt Fiber Co., Ltd, Bastech, Mafic SA, Shanxi Basalt Fiber Technology Co. Ltd, Technobasalt-Invest LLC, Deutsche Basalt Faser Gmbh, and Basalt Engineering LLC.
The “global basalt fibre market analysis to 2028” is a specialised and in-depth examination of the chemicals and materials industry, with a particular emphasis on global market trend analysis. The purpose of this report is to provide an overview of the basalt fibre market, as well as detailed market segmentation by product, end-use industry, and geography. The basalt fibre market is divided into several product categories, including roving, chopped strand, twisted yarn, fabrics and tapes, and others. The basalt fibre market is divided into five end-use industries: construction, automotive, electricals and electronics, chemicals, and others. The basalt fibre market is divided into five geographical regions: North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.
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