Press release
Basalt Fiber Market Outlook, Global Size, Share and Growth Report 2023-2028
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.
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Basalt Fiber Market Trends:
The growing awareness among consumers regarding the ecological impacts of products and materials is driving demand for greener alternatives like basalt fiber represents one of the key factors driving the growth of the market across the globe. This consciousness extends to businesses seeking to align with customer values. Basalt fiber's impressive tensile strength, durability, resistance to corrosive environments, and thermal stability make it a preferred material in various industrial applications. These inherent qualities render it suitable for use in the automotive, aerospace, and construction industries.
The production process of basalt fiber is more eco-friendly as compared to other synthetic fibers. It requires less energy, emits fewer greenhouse gases, and uses a natural, abundant resource, which is aligning with global sustainability goals. While offering comparable or even superior performance to traditional materials like carbon and glass fibers, basalt fiber is often more cost-effective. This affordability is driving adoption in developing economies. Continuous innovation and technological advancements in manufacturing processes are improving the quality and reducing the costs of basalt fiber. Such innovations are expanding their application in various fields, which is creating a positive outlook for the market across the globe.
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
Basalt fiber is a material derived from volcanic rock, specifically mineral basalt. Comprised of fine fibers, it is formed by the extrusion process where the basalt rock is melted at a temperature of around 1,400°C. Basalt fiber possesses remarkable characteristics, such as high tensile strength, resistance to corrosion, and stability at both high and low temperatures. In comparison to traditional materials like steel and fiberglass, it offers an impressive strength-to-weight ratio, making it a preferable choice in various applications.
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.
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Email: sales@imarcgroup.com
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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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