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According to a new research report by Global Market Insights, Inc. Basalt Fibers Market size is estimated to surpass USD 400 million by 2025. Driven by the rising environmental concerns, basalt fiber market is gaining huge traction from increasing use across numerous applications including construction, automotive, aerospace, defense, electronics, and more. For the uninitiated, basalt fiber is a material created from fine fibers of basalt, comprising of the minerals pyroxene, plagioclase, and olivine. It has a similar chemical composition as fiberglass while consisting better physiomechanical properties and is cheaper compared to carbon fiber.The use of basalt fibers market in concrete is a major driver for global basalt fiber market size. Concrete strengthened with fiber is extensively used for enhancing tensile and flexural strength of concrete. The surge in construction and infrastructure activities, across the world, will primarily drive the use of basalt fibers in concrete.
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The power sector is another key application arena driving basalt fibers market trends, fueled by the growing concerns regarding high carbon levels. The fiber’s optimal features like high energy absorption and low peak load are likely to result in low power consumption, thereby promoting energy efficiency. The demand for electronic devices is expected to increase in the succeeding years, due to rising population and increasing disposable income, which will boost material demand in the power sector over the forecast period.
Rapid growth across the automotive sector will also present significant opportunities for basalt fibers market manufacturers across the world. Although the passenger vehicle segment is facing a setback, other segments of the automotive industry are experiencing considerable growth. For example, the sale of Ford’s range of big trucks including F-650 and F-750 models surged 83% over the first half of the year.
The demand for housing, infrastructure, commercial space, and retail are burgeoning across several developed and developing nations, primarily owing to urbanization and steady rise in population. This will present a lucrative opportunity for basalt fiber manufacturers over the coming years, thereby augmenting global industry share.
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The heavy vehicle industry is growing at a great pace majorly driven by the increasing integration of electric vehicle technology. Based on the recent advancements in polymer science, the demand for basalt fiber in interior automotive applications like brake pads or headliners have surged, which would substantially contribute toward basalt fibers market outlook.
Aerospace and defense is anticipated to be the fastest-growing end-use segment in the global basalt fibers market .Being produced from basalt filaments the notable properties of basalt fibers in aerospace are its thermal stability and heat insulation. Since basalt is a product of the volcanic activity, its outstanding thermal properties make it an extremely useful material for aerospace projects. For example, products like basalt fiber plates can offer structural reinforcement to jets and other aircraft. Moreover, basalt fiber composites are emerging as highly useful material in building low-weight and high-resistance drones, which will further boost material demand in the aerospace sector.
Based on regional analysis, the North America market is anticipated to lead the global basalt fibers market over the ensuing years. Factors like steady population growth, increasing construction and infrastructure activities, coupled with the presence of a well-established automotive sector will drive growth in the region. Owing to the availability of jobs coupled with open immigration policies, Canada’s witnessing an outburst in commercial construction, compared to the United States, both of which are significant drivers for the North America basalt fiber market share.
Partial Chapter of the Table of Content:
Chapter 2. Executive Summary
2.1. Basalt fiber market 3600 synopsis, 2013 –2025
2.1.1. Business trends
2.1.2. Form trends
2.1.3. End-use trends
2.1.4. Regional trends
Chapter 3. Basalt Fiber Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2025
3.3. Industry ecosystem analysis
3.3.1. Profit margin analysis
3.3.2. Vendor matrix
3.4. Technology landscape
3.5. Raw material analysis
3.6. Industry best practices & key buying criteria
3.7. Comparison analysis
3.8. Regulatory landscape, by region
3.8.1.1. North America
3.8.1.2. Europe
3.8.1.3. Asia Pacific
3.8.1.4. Latin America
3.8.1.5. MEA
3.9. Pricing analysis, 2013-2025
3.9.1. Regional pricing
3.9.1.1. North America
3.9.1.2. Europe
3.9.1.3. Asia Pacific
3.9.1.4. Latin America
3.9.1.5. MEA
3.9.2. Cost structure analysis, 2018
3.10. Industry impact forces
3.10.1. Growth drivers, by region
3.10.1.1. North America
3.10.1.2. Europe
3.10.1.3. Asia Pacific
3.10.1.4. Latin America
3.10.1.5. MEA
3.10.2. Industry pitfall & challenges
3.11. Innovation and sustainability
3.12. Growth potential analysis, 2018
3.13. Competitive landscape, 2018
3.13.1. Market share analysis, 2018
3.13.2. Key stake holders
3.13.3. Strategy dashboard
3.14. Porter's analysis
3.15. PESTEL analysis
Chapter 4. Basalt Fiber Market, By Form
4.1. Global basalt fiber market share by type, 2018 & 2025
4.2. Continuous
4.2.1. Market estimates and forecast, 2013 - 2025
4.2.2. Market estimates and forecast, by region, 2013 – 2025
4.3. Discrete
4.3.1. Market estimates and forecast, 2013 - 2025
4.3.2. Market estimates and forecast, by region, 2013 – 2025
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According to a research report compiled by Global Market Insights, Inc., basalt fibers market is anticipated to be worth more than $400 million by 2025.
Contact Info:
Name: Arun Hedge
Email: Send Email
Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/industry-analysis/basalt-fiber-market
Release ID: 88906224
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