Press release
Basalt Fiber Market Size To Hit US$ 577.6 Million By 2028 | IMARC Group
The global basalt fiber market size reached US$ 340.5 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 577.6 Million by 2028, exhibiting a growth rate (CAGR) of 8.7% during 2023-2028.
Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/basalt-fiber-market/requestsample
Basalt Fiber Market Trends:
The escalating use of the product in both developing and developed countries for commercial, residential, and industrial constructions, owing to its high cost-effectiveness and non-corrosive properties, is among the key factors driving the basalt fiber market. Additionally, the expanding adoption of discrete basalt fiber, an effective substitute for steel and other fiber reinforcements to produce lightweight automobile and aircraft components, is acting as another significant growth-inducing factor. Besides this, the rising environmental consciousness among the masses and the shifting preferences toward recyclable and eco-friendly products are also positively influencing the global market. Moreover, the increasing number of product innovations, such as the development of basalt fiber reinforced plastic (BFRP), that provides additional support to infrastructural constructions and reduces the damage caused by corrosion are further stimulating the market growth. Apart from this, the
implementation of stringent policies by government bodies aimed at lowering carbon footprints is anticipated to drive the basalt fiber market in the coming years.
Basalt Fiber Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the basalt fiber market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
• ASA.TEC GmbH
• Basaltex NV
• INCOTELOGY GmbH
• Isomatex
• Kamenny Vek
• Mafic
• Shanxi Basalt Fiber Technology Co. Ltd
• sjn AG Suchmaschine der Technik
• Sudaglass Fiber Technology
• Technobasalt-Invest LLC
• Zhejiang Hengdian Imp. & Exp. Co. Ltd.
Key Market Segmentation:
The report has segmented the global basalt fiber market based on product, type, form, method, end use industry and region.
Breakup by Product:
• Rebar
• Fabric
• Roving
• Chopped Strands
• Mesh and Grids
• Others
Breakup by Type:
• Composites
• Non-Composites
Breakup by Form:
• Continuous
• Discrete
Breakup by Method:
• Pultrusion
• Prepregs
• Compression Moulding
• Hand Layup
• Resin Moulding
• Vacuum Infusion
• Spray Gun
• Filament Winding
• Others
Breakup by End Use Industry:
• Automotive and Transportation
• Construction and Infrastructure
• Electrical and Electronics
• Wind Energy
• Marines
• Others
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2618&flag=C
Industry Definition and Application:
Basalt fiber represents a form of fiber-reinforced polymer manufactured utilizing extremely fine fibers of basalt and minerals such as olivine, pyroxene, and plagioclase. Some of the common product types include rebar, fabric, chopped strands, roving, mesh, and grids. Basalt fiber products are processed to manufacture fireproof automobile and aerospace textiles, reinforced cylinders, filament winding of pipes, tanks and cylinders, geogrids, tunnels and refractory bricks, etc. In comparison to the traditionally used glass fiber, these fiber variants exhibit superior thermal protection, tensile strength, durability, and resistance to chemicals and ultraviolet (UV) radiation. Basalt fiber materials have lower hygroscopic quotients and higher adhesive capabilities. Consequently, they find extensive applications across several sectors, including automotive, transportation, construction, electrical, marine, etc.
Key Highlights of the Report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
Other Reports by IMARC Group:
Flat Glass Market: https://bit.ly/3KvTehP
Digital Payment Market: https://bit.ly/410sltk
Saffron Market: https://bit.ly/416jIgM
India Business Travel Market: https://bit.ly/3Kv2ump
Africa E-Learning Market: https://bit.ly/3MFgtsh
Fish Meal Market: https://bit.ly/3MBQSkb
Contact Us:
IMARC Group
134 N 4th St
Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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