Basalt Fiber Market: Polymer Composites Set to Gain Substantial Demand

The purpose of this comprehensive forecast report presented by Fact.MR is to elaborate the various market projections impacting the global basalt fiber market size during the period through 2018-2028. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the basalt fiber market during the forecast period.

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Composed of materials such as pyroxene, olivine, and plagioclase, basalt fibers are similar to fiberglass in physical properties, but the material displays superior physic-mechanical characteristics. Basalt fiber finds extensive application in aerospace and automotive industries, in addition to the production of composites and fire proof textiles. The material is also gaining popularity as it is relatively inexpensive to produce and purchase.

Basalt Fiber Reinforced Polymer Composites Rapidly Gain Traction

Basalt fiber reinforced polymer composites are displaying lucrative potential in the production of construction materials such as rebar. Basalt fiber rebar in particular is anticipated to gradually eat into the market share for steel and glass rebar alternatives. This can be attributed to the fact that basalt fiber rebar is up to 70 percent lighter than steel, and provides benefits such as resistance to chemical corrosion or rust, which can potentially affect glass rebar.

The inclusion of basalt fiber reinforced polymer composites are projected to increase the scope of application with favorable changes in building code regulations, which is also augmented by improvements in manufacturer capacity and efficiency.

Production Challenges of Raw Material Inconsistency Restrict Application

Unlike glass, basalt is opaque. Consequently, manufacturers find it difficult to heat the material uniformly, without the use of advanced technology and equipment, which generates additional costs overall.

One of the major challenges faced by basalt fiber manufacturers is the fact that the raw material for this product occurs naturally. This results in inconsistencies in the physical properties of raw basalt that is mined from various locations around the globe. Consequently, manufacturers are increasing their efforts towards extensive analysis of the basalt sourcing area, to ensure that extraction process is productive commercially. This trend is resulting in advances in the production of standardized products.

Basalt Fiber Market: Overview

The worldwide basalt fiber market has been comprehensively scrutinized to find out unique insights on the industry for the period between 2017 and 2026. This report provides essential information on market developments in terms of macro and microeconomic factors that influence market growth, in addition to predicting future trajectories of growth in the basalt fiber market.

The report will also provide readers with trustworthy data on market changes, on the basis of competitive activities and obstacles being faced by emerging businesses. This can assist in the identification and make use of sustainable avenues for revenue. To increase the understanding of readers, the report has also been methodically separated into chapters. A chapter on market segments has also been added to include basic data on estimates of growth. Readers will also learn about regional assessments of major influencers, along with a nation-wise analysis and a forecast for basalt fiber market.

Basalt Fiber Market: Competition Landscape

This portion of the report gives essential information on key participants in the market. Dashboards of each profile, with essential insights on their SWOT analysis and market contribution, product portfolio, and new developments will help the readers’ understanding about the competitive environment.

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