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Worldwide Basalt Fiber Market 2019-2024 - Analyzed by Form, End-use Industry, Usage and Region - ResearchAndMarkets.com

May 1, 2019

DUBLIN--(BUSINESS WIRE)--May 1, 2019--The “Basalt Fiber Market by Form (Continuous and Discrete), End-Use Industry (Construction & Infrastructure, Automotive & Transportation, Electrical & Electronics, Marine), Usage (Composites, Non-Composites), and Region - Global Forecast to 2024” report has been added to ResearchAndMarkets.com’s offering.

The basalt fiber market size is estimated to be USD 227 million in 2019 and is projected to reach USD 397 million by 2024, at a CAGR of 11.8% between 2019 and 2024.

Basalt fibers are used in different industries such as marine, automotive & transportation, electrical & electronics, construction & infrastructure, wind energy, and others. They exhibit various properties such as non-corrosiveness, heat & fire resistance, and high mechanical strength. The superior properties offered by basalt fiber are enabling its usage in the end-use industries.

The basalt fiber market comprises major solution providers such as Kamenny Vek (Russia), Mafic SA (Ireland), Zhejiang GBF Basalt Fiber Co. Ltd (China), Technobasalt-Invest LLC (Ukraine), Russian Basalt (Russia), Sudaglass Basalt Fiber Technology (US), and Isomatex (Belgium).

The study includes an in-depth competitive analysis of these key players in the basalt fiber market, with their company profiles, recent developments, and key market strategies.

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.

Additionally, they offer higher strength than steel which makes them a preferred material in the construction industry. The high market share of continuous basalt fibers is attributed to its significant properties.

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.

Industry experts concluded that a ton of basalt rods could provide reinforcement equal to 4 tons of steel rods. All these benefits make basalt fiber product a good and economical alternative to alkali-resistant fibers, which are presently used in the market.

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. Also, the low cost of raw materials coupled with less stringent government regulations are driving the market in the country.

Key Topics Covered

1 Introduction

1.1 Objectives of the Study

1.2 Market Definition

1.3 Market Scope

1.4 Limitations

1.5 Stakeholders

2 Research Methodology

2.1 Research Data

2.2 Market Size Estimation

2.3 Data Triangulation

2.4 Assumptions

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Basalt Fiber Market

4.2 Basalt Fiber Market, By Region and End-Use Industry

4.3 Basalt Fiber Market, By Form

4.4 Basalt Fiber Market, By Usage Type

4.5 Basalt Fiber Market, By Country

5 Market Overview

5.1 Introduction

5.2 Evolution of Basalt Fibers

5.3 Market Segmentation

5.3.1 Basalt Fiber Market, By Usage

5.3.2 Basalt Fiber Market, By Form

5.3.3 Basalt Fiber Market, By End-Use Industry

5.4 Market Dynamics

5.4.1 Drivers

5.4.1.1 Increase in Demand for Noncorrosive Materials

5.4.1.2 Enhanced Physical, Mechanical, and Chemical Properties

5.4.1.3 Environmentally Friendly and Easily Recyclable Material

5.4.2 Restraints

5.4.2.1 Competition With Matured Products

5.4.3 Opportunities

5.4.3.1 Increase in Demand for Basalt Fiber in Europe and APAC

5.4.3.2 Growing Adoption of Environmentally Friendly and Recyclable Material

5.4.4 Challenge

5.4.4.1 Complex Manufacturing Process and High Cost Compared to E-Glass Fibers

5.4.4.2 Difficulty in Promotion of Basalt Fiber

6 Industry Trends

6.1 Introduction

6.2 Value Chain Analysis

6.3 Price Analysis

6.4 Porter’s Five Forces Analysis

6.5 Technological Advancements

6.5.1 Use of Basalt Fiber in Hybrid Fabrics

7 Macroeconomic Overview and Key Trends

7.1 Introduction

7.2 Trends and Forecast of GDP

7.3 Trends and Forecast of the Construction & Infrastructure Industry

7.4 Trends in Automotive & Transportation Industry

7.5 Trends in Wind Energy Industry

8 Basalt Fiber Market, By Usage Type

8.1 Introduction

8.2 Basalt Fiber in Composites

8.2.1 Basalt Fiber in Composites Improve the Structural Safety and Sustainability of the Construction

8.3 Basalt Fiber in Non-Composites

8.3.1 Basalt Fibers are Increasingly Used in Various Used Non-Composite Applications Such as Fabrics, Mesh, Felts, Insulation Sleeves, and Concrete Reinforcements

9 Basalt Fiber Market, By Form

9.1 Introduction

9.2 Continuous Basalt Fiber

9.2.1 Continuous Basalt Fibers Possess Superior Characteristics, Such as Superior Efficiency and Higher Tensile Strength

9.3 Discrete Basalt Fiber

9.3.1 Rapidly Growing Construction & Infrastructure and Transportation Industries are Spurring the Demand for Discrete Basalt Fibers

10 Basalt Fiber Market, By End-Use Industry

10.1 Introduction

10.2 Construction & Infrastructure

10.2.1 Basalt Fiber are Slowly Replacing Steel in the Construction Industry Due to their Unique Combination of Properties

10.3 Automotive & Transportation

10.3.1 Basalt Fiber Possess Environmentally Friendly Properties and Also Reduces the Cost of Vehicles

10.4 Electrical & Electronics

10.4.1 Basalt Fiber is Also Replacing Glass Materials in Important Electrical and Electronics Application Areas

10.5 Wind Energy

10.5.1 Basalt Fibers Do Not React With Air Or Water Leading to their Higher Demand in the Production of Wind Turbines

10.6 Marine

10.6.1 The Demand for Basalt Fiber to Build Pontoons is Increasing

10.7 Others

11 Basalt Fiber Market, By Region

11.1 Introduction

11.2 North America

11.2.1 Canada

11.2.1.1 They Proficient Aerospace Industry in Canada is Driving the Market

11.2.2 US

11.2.2.1 New Basalt Fiber Products are Offered By the Manufacturers in the US

11.3 Europe

11.3.1 Germany

11.3.1.1 Germany is the Second-Largest Market for Basalt Fiber in Europe

11.3.2 UK

11.3.2.1 UK is One of the Key Markets for Basalt Fiber

11.3.3 Belgium

11.3.3.1 Automotive & Transportation Industry is Bolstering the Demand in the Country

11.3.4 Ukraine

11.3.4.1 Presence of Basalt Rock in the Neighboring Region Drives the Market in the Country

11.3.5 Russia

11.3.5.1 Russia is the Largest Market for Basalt Fiber in the European Region

11.3.6 Ireland

11.3.6.1 High Demand is Witnessed in the Construction & Infrastructure and Wind Energy Industries of the Country

11.4 APAC

11.4.1 China

11.4.1.1 China is the Fastest-Growing Market for Basalt Fiber, Globally

11.4.2 Japan

11.4.2.1 The Growing Automotive Industry is Boosting The Demand for Basalt Fibers

11.4.3 Singapore

11.4.3.1 Singapore is the Second-Largest Market in APAC

11.5 Latin America

11.5.1 Brazil

11.5.1.1 Brazil is the Largest Market for Basalt Fiber in Latin America

11.5.2 Mexico

11.5.2.1 The Growing Wind Energy Sector in the Country is Driving the Demand for Basalt Fiber

11.6 MEA

11.6.1 South Africa

11.6.1.1 South Africa is the Largest Market in MEA

11.6.2 Saudi Arabia

11.6.2.1 Saudi Arabia is the Fastest-Growing Market in MEA

11.6.3 UAE

11.6.3.1 Increasing Demand From the Construction & Infrastructure Industry is Increasing the Demand for Basalt Fiber

12 Competitive Landscape

12.1 Introduction

12.2 Competitive Leadership Mapping

12.2.1 Visionary Leaders

12.2.2 Dynamic Differentiators

12.2.3 Emerging Companies

12.2.4 Innovators

12.2.5 Strength of Product Portfolio

12.2.6 Business Strategy Excellence

12.3 Market Ranking

12.4 Competitive Scenario

12.4.1 Expansion

12.4.2 New Product Development

12.4.3 Partnership

13 Company Profiles

(Business Overview, Products Offered, Recent Developments, SWOT Analysis)

13.1 Kamenny VEK

13.2 Zhejiang GBF Basalt Fiber Co.

13.3 Mafic SA

13.4 Technobasalt-Invest LLC

13.5 Russian Basalt

13.6 ISOMATEX S.A.

13.7 INCOTELOGY GmbH

13.8 Sudaglass Basalt Fiber Technology

13.9 Shanxi Basalt Fiber Technology Co. TD

13.10 Mudanjiang Jinshi Basalt Fiber Co. Ltd.

13.11 Other Companies

13.11.1 Basalt Technology UK Limited

13.11.2 Sichuan Aerospace Tuoxin Basalt Industrial Co. Ltd.

13.11.3 ASA. Tec GmbH

13.11.4 Sichuan Fiberglass Group Co. Ltd.

13.11.5 Nmg Composites Co. Ltd.

13.11.6 Fiberbas Construction and Building Technologies

13.11.7 Liaoning Jinshi Technology Group Co. Ltd.

13.11.8 Jiangsu Green Materials Vally New Material T&D Co. Ltd. (GMV)

13.11.9 Yingkou Hongyuan Fiberglass Technology Co. Ltd.

13.11.10 Jilin Province Huayang New Composite Material Co. Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/siy04a

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PUB: 05/01/2019 10:48 AM/DISC: 05/01/2019 10:48 AM

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