Fiber foods

Global Continuous Basalt Fiber Market Overview to 2030 – Opportunity Analysis and Industry Forecast – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Basalt Fiber Ongoing Market by Type, Product Type, Processing Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to from ResearchAndMarkets.com offer.

The global Basalt Continuous Fiber Market size was valued at USD 173.6 Million in 2020 and is projected to reach USD 473.6 Million by 2030, growing at a CAGR of 10.3% from 2021 to 2030.

Continuous basalt fiber is an inorganic fibrous material made from basalt rock. Continuous basalt fiber is inexpensive compared to fiberglass. Continuous basalt fiber is used in various industries such as automotive, aerospace, marine, and electronics, due to its high structural integrity and mechanical properties. Continuous basalt fiber is used to make products such as reinforced mesh, non-woven materials, fabrics and tapes.

Rising demand for continuous basalt fiber in nuclear applications is fueling the growth of the global continuous basalt fiber market. Additionally, increasing demand for basalt fiber in marine, aerospace, defense, sports food and wind turbine applications is fueling the growth of the global continuous basalt fiber market. Growing automotive industry and increasing disposable income of the population is expected to increase the demand for continuous basalt fiber, which is fueling the growth of the global continuous basalt fiber market. For example, the automotive industry in India is expected to grow at a rate of 10.2% from 2021 to 2026. Also, the increase in building construction and increase in urbanization in developing countries such as India, Brazil, Africa and others are fueling growth. of the global continuous basalt fiber market. For example, urbanization in India increased by 2.7% between 2018 and 2020.

The global continuous basalt fiber market is currently driven by various factors such as growth in demand from the aerospace industry, use of composites for manufacturing lightweight automotive parts, and increase in the size of airfoil blades. turbines to generate more energy in onshore and offshore wind power plants. In the aerospace and automotive industry, lightweight composites reduce overall vehicle weight. This has a direct positive impact on energy efficiency. Higher fuel efficiency contributes to stricter emission control regulations set by various organizations.

However, fluctuations in raw material prices and difficulties in basalt fiber promotion are expected to restrain the growth of the global continuous basalt fiber market. Additionally, growing wind power market and growing adoption of environmentally friendly and recyclable materials are expected to provide lucrative opportunities for continued global basalt fiber market growth.

The global continuous basalt fiber market is segmented on the basis of type, product type, processing technology, end-user and region. On the basis of type, the market is divided into basic and advanced. The basic segment generated the highest revenues in 2020. By product type, it is divided into rovings, cut yarns, fabrics and others. Itinerant segment dominated the market in 2020. Based on processing technology, the market is classified into pultrusion, vacuum infusion, texturing, sewing and weaving, and others. The others segment generated the highest revenue in 2020. Based on end user, it is divided into construction, transportation, industrial and others.

Regionally, the continuous analysis of the global basalt fiber market is conducted in North America (US, Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe) , Asia-Pacific (China, Japan, India, Australia and Rest of Asia-Pacific) and LAMEA (Latin America, Middle East and Africa). In 2020, Asia-Pacific was the largest contributor to the global continuous basalt fiber market share and is expected to secure a leading position during the forecast period.

Key Benefits

  • The report provides an in-depth analysis of current and emerging global Basalt Fiber Continuous Market trends and dynamics.

  • In-depth market analysis is achieved by continuous basalt fiber market estimates for key market segments between 2020 and 2030.

  • In-depth market analysis is performed by tracking the positioning of key products and monitoring major competitors within the scope of the market.

  • A comprehensive and continuous analysis of the global basalt fiber market opportunities of all countries is also provided in the report.

  • The ongoing analysis of the global basalt fiber market forecast from 2021 to 2030 is included in the report.

  • Major market players are profiled in this report and their strategies are thoroughly analyzed which helps to understand the competitive outlook of the industry.

Market dynamics

Drivers

  • Increase in demand for non-corrosive materials from the construction industry

  • Growth in the construction sector

  • Increased spending on home renovation and upgrade activities

Constraints

  • Basalt Fiber Promotion Difficulty

  • High commodity prices

Opportunity

  • Booming wind power market

  • Growing adoption of eco-friendly and recyclable materials

Key players

  • Basaltex AG

  • Hengdian Group

  • Shanxi Yaxin Group

  • fiberbas

  • Jilin Tongxin Basalt Technology Co Ltd

  • Armbasalt CJCS

  • Technobasalt-Invest LLC

  • Kamenny Vek

  • LAVIntel

  • Isomatex SA

For more information on this report, visit https://www.researchandmarkets.com/r/rz2c9u