Dublin, April 28, 2021 (GLOBE NEWSWIRE) -- The "Basalt Fiber Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global basalt fiber market grew at a CAGR of 11.40% during 2015-2020. Looking forward, the global basalt fiber market to exhibit strong growth during the next five years.
Basalt fiber refers to a form of fiber-reinforced polymer manufactured using extremely fine fibers of basalt and minerals such as pyroxene, plagioclase and olivine. It is usually processed through pultrusion, prepreg process, compression/resin molding and vacuum infusion to obtain continuous or discrete basalt fiber.
These fibers are further processed to manufacture fireproof automobile and aerospace textiles, filament winding of pipes, tanks and cylinders, reinforced plastics, geogrids, tunnels and refractory bricks. In comparison to the traditionally used glass-fiber, basalt fiber exhibits superior thermal protection, durability, tensile strength, resistance to chemicals and ultraviolet (UV) radiations, low hygroscopic quotient and high adhesive capabilities.
Rapid industrialization, along with the extensive infrastructural developments across the globe, is one of the key factors driving the growth of the market. Governments of both the developing and emerging economies are using basalt fibers for commercial, residential and industrial constructions due to its high cost-effectiveness and non-corrosive properties.
Furthermore, widespread adoption of discrete basalt fiber is also driving the market growth. It is extensively used as an effective substitute for steel and other fiber reinforcements to manufacture light-weight automobile and aircraft components. In line with this, rising environmental consciousness among the masses has led to an increasing preference for recyclable and eco-friendly basalt fiber, which, in turn, is creating a positive outlook for the market.
Additionally, various product innovations, such as the development of basalt fiber reinforced plastic (BFRP), are acting as other growth-inducing factors. BFRP provides additional support to infrastructural constructions and minimizes the damage caused by corrosion.
Other factors, including the implementation of favorable government policies to lower carbon footprints, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Shanxi Basalt Fiber Technology Co. Ltd
sjn AG Suchmaschine der Technik
Sudaglass Fiber Technology
Zhejiang Hengdian Imp.& Exp. Co. Ltd
Key Questions Answered in This Report:
How has the global Mafic basalt fiber market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global basalt fiber market?
What are the key regional markets?
What is the breakup of the market based on the product?
What is the breakup of the market based on the type?
What is the breakup of the market based on the form?
What is the breakup of the market based on the method?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global basalt fiber market and who are the key players?
What is the degree of competition in the industry?
Key Market Segmentation:
Breakup by Product:
Mesh and Grids
Breakup by Type:
Breakup by Form:
Breakup by Method:
Breakup by End Use Industry:
Automotive and Transportation
Construction and Infrastructure
Electrical and Electronics
Breakup by Region:
Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/xiqi63
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