Press release
Basalt Fiber Market To Exhibit Surge In Revenue Growth During Forecast Period : Fact.MR
The report sheds light on leading providers of basalt fiber, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the Basalt fiber offering has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the basalt fiber market
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Global Basalt Fiber Market by Category
By Product Type :
Roving
Chopped Strands
Fabric
Mesh and Grids
Others
By Usage :
Composites
Non-Composites
By End Use Industry :
Building and construction
Automotive
Aerospace and defense
Ship Building
Wind Energy
Sport Accessories and others
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
Competitive Landscape: Top Companies in Basalt Fiber Market
Fact.MR has provided detailed information about price points of top manufacturers of basalt fiber market positioned across regions, sales growth, production capacity, and speculative technological expansion in the recently published report.
For instance:
On 30th April 2021, Kamenny Vek has expanded its product line with launch of three new products includes Basalt direct roving 22 microns 2400 tex, basalt assembled roving 18 micron 3000 tex and Basalt assembled roving 18 micron 4800 tex.
On 27th July 2020, Mafic USA has started the operations of world's largest basalt fiber factory based in Shelby, North Carolina. Through this company will be able to cater the demand receiving from large consumer base.
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Which End-Use Industry is poised to Show lucrative Growth in Basalt Fiber Market?
Basalt fibers used in industries such as building and construction, automotive, aerospace, ship building etc. However, the sales of basalt fibers comes majorly from building and construction industry as the segment holds 29.2% share of the overall market. The demand is likely to remain concentrated in this segment owing to the product used as a replacement to carbon fiber based reinforcements, and conventional steel.
Additionally, the segments of aerospace and automotive are projected to expand at a CAGR of 9.1% and 13.6% respectively, during the forecast years owing to their increased usage. This is projected to provide a gain of 235 BPS to the basalt fiber market over the assessment years of 2022-2032.
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Which Region holds for More Higher Demand for basalt fiber Market?
The Asia Pacific has been separated into two regions including South Asia & Oceania and East Asia. East Asia basalt fiber market is the one furthest profitable market. It has acquired more than 1/5th market share of the global market.
In addition, the East Asian market is largely conquered by the Chinese basalt fiber market which has attained nearly 2/5th market share followed by Japan and South Korea. East Asia is projected to grow at a CAGR of 12.4% and create an absolute dollar opportunity of around USD 44.7 million by the during 2022 & 2032
Further, as numerous basalt fiber companies are located in East Asia Region, the demand for basalt fibers in Japan and South Korea is expected to increase at a CAGR of 12.9% over the forecast period. Additionally, investments in the basalt fiber market it is expected to pump the market growth in the coming years.
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