Basalt Fiber Market is estimated to be US$ 920.12 million

2022-12-02 20:19:24 By : Ms. Tina Sun

October 31, 2022 08:45 ET | Source: PMI PMI

Covina, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Basalt fiber is newcomer to FRPs (fiber reinforced polymers) and structural composites. Basalt fiber has similar chemical composition as glass fiber. Basalt consists of pyroxene, magnesium silicates, iron, and calcic plagioclase. Basalt fiber has better strength characteristics, good for concrete, bridge & shoreline structures, highly resistant to acidic, alkaline and salt attacking, higher shear strength, higher radiation resistance, higher oxidation resistance, etc. Basalt is type of igneous rock which was formed by rapid cooling of lava at surface of planet. Basalt is most common type of rock in Earth’s crust. From basalt deposits high quality fibers are made with uniform chemical makeup. For manufacturing fiber crushed basalt rock is required. Basalt fibers has wide range of applications which includes, automotive, sporting goods, civil engineering, wind turbine blades, boat building, construction, electronics, aerospace & defense, etc.  Toyota car mufflers uses heat-resistant basalt fiber. High quality basalt roving, cutting strands, cloth are used in production of CNG cylinders, mufflers, brake pads, headliners, etc. in automotive industries. Basalt fiber products are used for chemical & wear resistant protective coatings for pipelines, tanks, waste water filters, high pressure vessels and corrosion resistant tanks and pipes. Basalt fiber can be recycled. Basalt fiber has high elastic modulus, high specific strength. BFRPs (basalt fiber reinforced polymers) bar is a composite material which consists of rigid polymer resins that are bounding unidirectional basalt fibers. Basalt rebar reinforcement has become an alternative to fiberglass & steel for reinforcing concrete. Basalt rebar is made from volcanic rock and thus it is stronger, tougher and with higher tensile strength than steel. Basalt is used in engineering in casting processes for making slabs and tiles for architectural applications. Wide applications has given rise in target market growth. Basalt Fiber Market accounted for US$ 287 million in 2022 and is estimated to be US$ 920.12 million by 2032 and is anticipated to register a CAGR of 12.5%.

The report “Basalt Fiber Market, By Type (Composites, Non-Composites), By Form (Discrete, Continuous), By Application (Marine, Building & Construction, Automotive, Aerospace & Defense, Electronics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

Request Free Sample of the Report: https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/4969

Basalt fiber has great potential to be next generation of materials. Basalt fibers are superior and has excellent physical and chemical properties than other fibers. Basalt fiber are naturally occurring, environmental friendly and non-toxic substance. Basalt fiber are widely used in building and construction, and automotive industries. Basalt has become important in industrial use due to its excellent chemical, mechanical and thermal performance. Basalt has gained importance and an increasing attention as reinforcing material. Wide applications and excellent beneficial properties and rising its demand in industries has given boosts to the Basalt Fiber market growth. As a result, market competition is intensifying, and both big international corporations and start-ups are vying to establish position in the market.

Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on“Basalt Fiber Market, By Type (Composites, Non-Composites), By Form (Discrete, Continuous), By Application (Marine, Building & Construction, Automotive, Aerospace & Defense, Electronics, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032”

To know the upcoming trends and insights prevalent in this market, click the link below:

https://www.prophecymarketinsights.com/market_insight/Basalt-Fiber-Market-4969

Key Market Insights from the report:

Basalt Fiber Market accounted for US$ 287 million in 2022 and is estimated to be US$ 920.12 million by 2032 and is anticipated to register a CAGR of 12.5%. The Basalt Fiber Market is segmented based on Type, Form, Application and Region.

Competitive Landscape & their strategies of Basalt Fiber Market:

The prominent players operating in the Basalt Fiber Market includes, Kamenny Vek, Technobasalt-Invest LLC., Mafic SA, ISOMATEX, Sudaglass Fiber Technology, Jiangsu Green Materials Vally New Material T&D Co., Hengdian Group, Basaltex NV, Mokwheel, and others.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Request Customization in the Report: https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/4969

Prophecy Market Insights is specialized market research, analytics, marketing/business strategy, and solutions that offers strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high-value opportunities in the target business area. We also help our clients to address business challenges and provide the best possible solutions to overcome them and transform their business.

Some Important Points Answered in this Market Report Are Given Below:

1. Acrylonitrile Market, By Application (Acrylonitrile Butadiene Styrene, Styrene-Acrylonitrile Resin, Acrylic Fiber, Acrylonitrile Butadiene Rubber, Others), By End User Industry (Automotive, Electrical & Electronics, Construction, Packaging and Others) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032

2. Global Phosphoramidite Market, By type (DNA-RNA phosphoramidite, speciality phosphoramidite, dye-labeled phosphoramidite and Others), By Modification methods (Base modification, sugar modification and others), By End-user (Molecular Diagnostics, Pharmaceuticals, and life science Research company), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030

3. Dolomite Powder Market, By Type (Calcium Dolomite, and Magnesia Dolomite), By Application (Steel-making, Cement Industry, Agriculture, Glass, Ceramic, Rubber, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Market Trends, Analysis, and Forecast till 2029