Basalt Fiber Market

Date: 2016-05

Basalt fiber is a comparatively new arrival to fiber reinforced polymers (FRPs) and structural composites. It has almost similar chemical composition as glass fiber but has improved strength characteristics, and contrasting most glass fibers it is highly resistant to acidic, alkaline and salt attack making it a good contender for concrete, bridge and shoreline structures. Basalt fiber ranks somewhere between E-glass and high-strength glass in terms of tensile strength, and almost similar to high-strength glass with regards to tensile modulus. Moreover, the basalt fiber is ecofriendly and recyclable.

Basalt fibers are widely used in the construction industry on account of its resistance to chemicals and varying temperatures, durability, high mechanical strength and low water absorption. These fibers are significantly cheaper as compared to carbon fibers and are used as fire proof textiles in the automotive and aerospace industry. Environmental friendly and it can be recyclable, which are the drivers of the market. Basalt fibers are ideally suited for demanding applications requiring high temperatures, chemical resistance, mechanical strength, durability and low water absorption.

The global market for basalt fiber market was estimated to be $XX billion in 2015. The global market for basalt fiber market is estimated to grow at a CAGR of XX% and is forecast to reach $XX billion by 2021. Americas and Europe together are estimated to occupy a share of more than XX% in 2015.

Americas and Europe dominates the basalt fiber market. APAC is anticipated to be the fastest growing market on account of rapidly expanding end-use industries including construction, automotive, aerospace, and electrical & electronics. Additionally, growing population, rapid urbanization and change in consumer preference are anticipated to boost construction industry especially in emerging economies of China and India. America鈥檚 basalt fiber market accounts to XX% of the global market.

The key players in the basalt fibers market includes:
Basaltex (Belgium)
Kamenny Vek (Russia)
Zhejiang GBF Basalt Fiber Co., Ltd (China)
Technobasalt (U.S.)
Shanxi Basalt Fiber Technology Co., Ltd (China)
GMVChina (China)
Mafic SA (Luxembourg)
JiangSu TianLong Continuous Basalt Fiber High-tech Co., Ltd. (China)
Mineral 7 (Ukraine) among many others.

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