Precision Business Insights has published a report on the global basalt fiber market, estimating its value at USD 313.9 Million in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 12.5% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.
View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/basalt-fiber-market
Market Definition:
Melting basalt rocks and turning the resulting melt into fibers is how basalt fibers are made. Igneous rocks are known as basalts. Three types of basalt fibers are distinguished:
1) Basalt staple fibers are used to make thermal insulation materials
2) Basalt continuous fibers (BCF) are used to make reinforcing materials and composite products, textiles, and non-woven materials
3) Basalt superthin fibers (BSTF) are used to create premium fireproof and heat- and sound-insulating fabrics.
Drivers:
1) Increase in demand for non-corrosive materials
2) Increasing usage of basalt fibers as an alternative
The global basalt fiber market segmentation:
1) By Product Type: Roving, Fabric, Mesh and Grids, Chopped Strands, and Others.
2) By Usage: Composites, and Non-Composites.
3) By End User: Automotive & Transportation, Electrical & Electronics, Marine, Construction & Infrastructure, Wind Energy, and Other.
Based on its Product type thousands of E-glass fibers are bundled together and then chopped to a certain length to create chopped strands. To improve their strength and physical characteristics, they are covered with the original surface treatment created for each resin.
Regional Overview:
The report also examines the current concerns and their Future Effects on the basalt fiber market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the basalt fiber market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.
· North America (U.S., Canada)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
· Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
· Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)
The key players profiled in the global basalt fiber market report are BASALTEX NV, TECHNOBASALT-INVEST LLC, Sudaglass Fiber Technology, Mafic SA, JiangSu Tianlong Continuous Basalt Fuber Co. Ltd, Zhejiang GBF Basalt Fiber Co., Ltd, Kamenny Vek, Shanxi Basalt Fibre Technology Co., Ltd, Isomatex SA.
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