Basalt Fiber Market Scope
Basalt fibres are the fibres made of extremely fine fibres of basalt, comprising the minerals pyroxene, plagioclase and olivine, having better physicomechanical properties than fibreglass, and significantly economical than carbon fibre. Increasing environmental concerns have triggered a paradigm shift towards material compatible with the environment among manufacturers. Various factors include low cost, high mechanical & chemical strength are propelling product penetration rate. Moreover, increasing demand for naturally derived fibres over synthetically produced likely to create new growth opportunities for industry participants.
According to AMA, the Global Basalt Fiber market is expected to see growth rate of 10.8%
Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Basalt Fiber market throughout the predicted period.
Kamenny Vek (Russia), Zhejiang GBF Basalt Fiber Co. (China), Mafic SA (Ireland), Technobasalt-Invest LLC (Ukraine), Russian Basalt (Russia), ISOMATEX SA (Belgium), INCOTELOGY GmbH (Germany), Sudaglass Basalt Fiber Technology (United States), Shanxi Basalt Fiber Technology Co., Ltd (China) and Mudanjiang Basalt Fiber Co. (China) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Basalt Fiber market by Type (Basalt Chopped Fiber and Basalt Continuous Fiber), by Application (Construction & Infrastructure, Automotive & Transportation, Electrical & Electronics, Marine Sector and Others) and Region with country level break-up.
On the basis of geography, the market of Basalt Fiber has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Trend
- Increased Consumer Demand of Durable Goods, Machinery and Equipment
Market Drivers
- The Growth in Demand for Noncorrosive Materials Worldwide
- Increasing Adoption of Environmentally Friendly and Easily Recyclable Material
Opportunities
- The surge in Demand for Basalt Fiber in European and Asian Pacific Countries
- Ongoing Technological Advancements and Developments in the Raw Material of Basalt Fibres
Restraints
- Increasing Threat from the Substitute
- Difficulty in Promotion of Basalt Fiber
Challenges
- Complex Manufacturing Process and High Cost Compared to E-Glass Fibers
Key Target Audience
Basalt Fiber Manufacturers, Basalt Fiber Suppliers/Distributors, Raw Material Suppliers/Distributors, End Users and Others