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Basalt Fiber Market Scope and Upcoming Opportunity Analysis till 2026

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Steve Blade
Basalt Fiber Market Scope and Upcoming Opportunity Analysis till 2026

The burden of regulations for the automotive manufacturers to reduce the vehicle weight has triggered the demand for basalt fibers by nearly 7% during the past four years, explains Fact.MR. The stringent regulations prevailing in the automotive industry regarding the reduction of vehicle weight to reduce emissions has positively impacted the demand for basalt fibers. Moreover, composites made of basalt fibers are being widely used in the aerospace industry for fuel efficiency. The additional properties of fire protection have led to a rise in the demand from the fire protection clothing segment.

Attributed to superior properties as compared to other glass and carbon fiber and steel reinforcements, there has been a constant rise in the demand for basalt fibers. Only 1/10th of basalt fibers is required as a reinforcing material to obtain the same strength as steel. Basalt fibers also exhibit good mechanical strength, chemical and thermal resistance, and are also economically priced as compared to carbon fibers. The increasing penetration of light-weight composite material for automotive, aerospace and building and construction industry is projected to boost the demand for basalt fibers over the forecast period. The rising concern over energy conservation has further led to the growth of the renewable wind energy generation industry, thus, creating traction in the basalt fiber market.

Some of the key players mentioned in the research report are -

  • Shanxi Basalt Fibre Technology Co., Ltd.
  • Shanxi Basalt Fiber Technology Co., Ltd.
  • Sudaglass Fiber Technology
  • TECHNOBASALT-INVEST LLCOverview

Among the various regions, North America and Europe are estimated to account for a value share of approximately 60% in the global basalt fiber market by 2018-end. Europe is projected to lead the global basalt fibers market both in terms of production and consumption. Russia holds a significant share in the European basalt fibers market. The region has witnessed a surge in the demand for basalt fibers from the automotive industry as there are stringent regulations prevailing in the EU regarding vehicle emissions and greenhouse gas amongst others.

You can Request an Example Copy from here - https://www.factmr.com/connectus/sample?flag=S&rep_id=1312

The new report on the global basalt fiber market gives estimations of the size of the international market and the overall size and share of key regional segments during the historical assessment period of 2013-2017. The research report gives projections of different shares and opportunities, both in terms of projected value (US$Mn/Bn) as well as volume (n units), of different fragments in the basalt fiber market during the estimated timeframe of 2018-2026.

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