11.8% Growth Rate for Basalt Fiber Market by 2024 | KamennyVek, KamennyVek, Zhejiang GBF Basalt Fiber Co. Ltd, Techno basalt-Invest LLC, Russian Basalt, Sudaglass Basalt Fiber Technology and Others.
The Basalt Fiber Market size is estimated to be US$ 227 Million in 2019 and is projected to reach US$ 397 Million by 2024, at a CAGR of 11.8% between 2019 and 2024.This report spread across 125 pages, profiling 11 companies and supported with tables and figures is now available in this research.
‘‘Continuous Basalt Fiber accounted for the largest share, in terms of value and volume, in the basalt fiber market.’’
Continuous Basalt Fiber dominated the global basalt fiber market in 2018. Continuous basalt fibers possess characteristics, such as superior efficiency, higher tensile strength, and excellent mechanical properties. Also, these fibers are eco-friendly, which makes them suitable for various applications, such as reinforcing nets, pipes, containers, electrical insulation materials, basalt plastic products, and others.
”The Basalt Fiber Market in the construction & infrastructure end-use industry is expected to register the highest CAGR between 2019 and 2024.’’
The increasing use of basalt fiber in the construction & infrastructure industry is mainly due to its environmentally friendly properties, good compatibility with concrete, and easy mixing at high concentration. Basalt fiber offers higher mechanical properties that are required for construction in extreme conditions and at a much lower price compared to all other alkali-resistant fibers.
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”The Basalt Fiber Market in APAC is projected to register the highest CAGR, in terms of value and volume, between 2019 and 2024.”
APAC dominated the global basalt fibers market. The region has the presence of many manufacturers of basalt fibers and its products. China accounted for a major share of the global basalt fiber market and is expected to register the highest CAGR during the forecast period. The rising awareness among the Chinese manufacturers regarding basalt fiber production, and the increasing demand for environmentally friendly and high-performance materials is driving the basalt fiber market in China.
Breakdown of primary participants’ profile:
• By Company: Tier 1- 37%, Tier 2- 42%, and Tier 3-21%
• By Designation: C level - 30%, Director level - 25%, and Others- 45%
• By Region: North America - 20%, Europe - 27%, Asia Pacific -40%, MEA - 7%, and Latin America - 6%
• To forecast the market on the basis of form, usage, and end-use industry
• To define, describe, and forecast the market on the basis of five regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and Latin America
• To define, describe, and forecast the market size of basalt fiber, in terms of value and volume
• To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To provide detailed information about the technological advancements influencing the growth of the market
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and their contribution to the overall market
• To analyze the opportunities in the market for stakeholders and provide a competitive landscape for market leaders
• To analyze the recent developments such as expansion, new product development, and partnership in the market
• To strategically profile the key players and comprehensively analyze their market share and core competencies
Competitive Landscape of Basalt Fiber Market:
• Competitive Leadership Mapping
• Visionary Leaders
• Dynamic Differentiators
• Emerging Companies
• Strength of Product Portfolio
• Business Strategy Excellence
• Market Ranking
• Competitive Scenario
• New Product Development
Most Popular Companies in the Basalt Fiber Market include are KamennyVek (Russia), Mafic SA (Ireland), Zhejiang GBF Basalt Fiber Co. Ltd (China),Techno basalt-Invest LLC (Ukraine), Russian Basalt (Russia), Sudaglass Basalt Fiber Technology (US), and Isomatex (Belgium).
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