Global Basalt Fiber Market Forecast to 2028 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Basalt Fiber Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Product (Roving, Chopped Strand, Twisted Yarn, Fabrics and Tapes, and Others) and End-Use Industry (Construction, Automotive, Electrical and Electronics, Chemical, and Others)" report has been added to ResearchAndMarkets.com's offering.

The basalt fiber market was valued at US$ 216.00 million in 2020 and is projected to reach US$ 427.14 million by 2028; it is expected to register a CAGR of 9.0% from 2021 to 2028.

Basalt fiber possesses similar chemical properties to glass fibers but have better physicochemical properties than glass fibers. The basalt fiber market is anticipated to witness high growth due to its demand from end-use industries such as automotive, marine, building & construction, and electronics. Increasing construction activities in several regions due to growth in population, growing income, and government initiatives in various economies to develop better infrastructure is likely to boost the growth of the basalt fiber market. However, the inconsistent raw material properties are among the factors restraining the basalt fiber market growth.

Based on product, the global basalt fiber market is categorized into roving, chopped strand, twisted yarn, fabrics and tapes, and others. The roving segment held the largest share in the global basalt fiber market in 2020. Basalt roving is a bundle of continuous unidirectional complex basalt fibers. Roving has resistance to aggressive environments, high natural strength, long service life, and superior electrical insulation properties. Based on its technical characteristics, basalt roving surpasses E-glass and S-glass in numerous respects. Basalt roving is extremely heat-resistant and can resist temperatures up to 1,000 C for a short time. These characteristics are driving the roving segment growth.

Geographically, the basalt fiber market is segmented into North America, Europe, Asia Pacific, South and Central America, and the Middle East & Africa. In 2020, Asia Pacific accounted for the largest share in the global basalt fiber market. Asia Pacific comprises several developing and developed economies such as India, China, Japan, South Korea, and Australia. Emerging countries are witnessing an upsurge in industrialization and urbanization activities. Growth in construction projects in countries such as India and China and growing investments in infrastructure activities, such as the new construction of highways, railways, underground metro lines, and pavement linings, are predicted to bolster the basalt fiber market in the region.

Companies Mentioned

• Kamenny Vek Company
• Fiberbas Construction and Building Technologies
• Hydro Design Management Co. Pvt. Ltd.
• Hg Gbf Basalt Fiber Co., Ltd
• Bastech
• Mafic SA
• Shanxi Basalt Fiber Technology Co. Ltd
• Technobasalt-Invest LLC
• Deutsche Basalt Faser Gmbh
• Basalt Engineering LLC

Reasons to Buy

• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global basalt fiber market, thereby allowing players to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest `with respect to products, segmentation and industry verticals.

Key Topics Covered:

1. Introduction

2. Key Takeaways

3. Research Methodology

4. Global Basalt Fiber Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 APAC

4.2.4 MEA

4.2.5 SAM

4.3 Expert Opinion

5. Basalt Fiber Market - Key Market Dynamics

5.1 Key Market Drivers

5.1.1 Wide Applications of Basalt Fibers in Various End-Use Industries

5.1.2 Superior Mechanical, Chemical and Thermal Properties of Basalt Fibers

5.2 Key Market Restraints

5.2.1 Inconsistent Raw Material Properties

5.3 Key Market Opportunities

5.3.1 Growing Adoption of Environmentally Friendly and Recyclable Material

5.4 Future Trends

5.4.1 Increase in Demand for Noncorrosive Materials

5.5 Impact Analysis of Drivers and Restraint

6. Basalt Fiber - Global Market Analysis

6.1 Basalt Fiber Market Overview

6.2 Basalt Fiber Market -Revenue and Forecast to 2028

6.3 Competitive Positioning - Key Market Players

7. Global Basalt Fiber Market Analysis - by Product

8. Global Basalt Fiber Market Analysis - by End-Use Industry

9. Basalt Fiber Market - Geographic Analysis

10. Impact of COVID-19 Pandemic on Global Basalt Fiber Market

10.1 Impact of COVID-19 on Basalt Fiber Market

10.2 North America: Impact Assessment of COVID-19 Pandemic

10.1 Europe: Impact Assessment of COVID-19 Pandemic

10.2 Asia Pacific : Impact Assessment of COVID-19 Pandemic

10.3 Middle East and Africa: Impact Assessment of COVID-19 Pandemic

10.3 South and Central America: Impact Assessment of COVID-19 Pandemic

11. Company Profile

12. Appendix

For more information about this report visit https://www.researchandmarkets.com/r/8q0i4i