Global Continuous Basalt Fiber Market To Attain About USD 121.19 Million By 2021

A new report is issued by Zion Market Research titled “Continuous Basalt Fiber Market for Molded Materials, Transportation, Electronics, Building & Construction and Other Applications: Global Market Perspective, Comprehensive Analysis and Forecast, 2015 – 2021.” The global continuous basalt fiber market, as per the report, was esteemed at more than USD 68.41 Million in 2015 and is projected to attain USD 121.19 Million in 2021, expanding at a CAGR of somewhat over 10.7% from 2016 to 2021.

Basalt fiber is a substance composed of very thin fibers of basalt. It is produced by thawing basalt rocks at elevated temperatures and treating them as per the requirements of the end-user industry. It is associated with fiberglass and carbon fiber, possessing better physicomechanical characteristic compared to fiberglass, however, basalt fiber is much less expensive than carbon fiber. Basalt fiber, in automotive and aerospace industries, is utilized as a fireproof textile and also can be utilized as a compound to generate products like camera tripods. It is attracting a lot of attention owing to its abrasion resistance and high temperature.

Browse the full "Continuous Basalt Fiber Market for Molded Materials, Transportation, Electronics, Building & Construction and Other Applications: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/continuous-basalt-fiber-market

In the forecast period, the global continuous basalt fiber market is anticipated to develop at sluggish but steady CAGR. Increase in basalt fiber usage in applications like transportation, molded materials, building & construction, electronics, and so on are major reasons propelling the continuous basalt fiber demand. Speedily rising population has led to elevated transportation, buildings, daily use electronic equipment, and so on. In 2015, the global continuous basalt fiber market was dominated by building and construction with about 37% market share. Nevertheless, electronics, transportation, and other applications are anticipated to show rapid growth rate in comparison with building & construction application. Furthermore, continuous basalt fiber use in other applications such as defense, sports equipment, aeronautic, and space components is also anticipated to drive the continuous basalt fiber’s demand.

In 2015, North America was the biggest regional market. It recorded about 40% stake of the global market. The continuous basalt fiber’s demand is majorly boosted by strong requirement from North America as a result of several application fields of continuous basalt fiber. Furthermore, high spending on sports and defense equipment is projected to boost the growth of the market in the region in the near future. Nevertheless, Asia Pacific is projected to show rapid growth in yaers to come.

The global continuous basalt fiber market is extremely competitive owing to the participation of well-established global merchants. Few of the key market players active in the market are Mineral 7Basaltex, Zhejiang GBF Basalt Fiber Co., Ltd, Kamenny Vek, Shanxi Basalt Fiber Technology Co., Ltd, Technobasalt, Sudaglass Fiber Technology, GMVChina, JiangSu TianLong Continuous Basalt Fiber High-tech Co., Ltd., , and Mafic SA.

The report segments the global continuous basalt fiber market as

Global Continuous Basalt Fiber Market: Application Segment Analysis

• Molded Materials
• Transportation
• Electronics
• Building & construction
• Others (including sports equipment, defense, space and aeronautic components, etc.)

Global Continuous Basalt Fiber Market: Regional Segment Analysis

• North America
  • U.S.
• Europe
  • Germany
  • France
  • UK
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa

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