Global Basalt Fiber Market Size, Industry Trends, Share and Forecast 2019-2025Posted by nabeel on February 11th, 2021 The global basalt fiber market is estimated to grow at a CAGR of over 10% during the forecast period. The factors that drive the global basalt fiber industry include the rising construction industry coupled with the increased demands for high-performance sealing products. Also, the characteristics possessed by the basalt fiber such as low energy consumption, low cost of basalt & associated process equipment, high durability & strength of resulting fibers, increased demand for high chemical-resistant fibers primarily increases the demand for the basalt fibers and hence drives the market growth. To Request a Sample of our Report on Global Basalt Fiber Market : https://www.omrglobal.com/request-sample/basalt-fiber-market However, the presence of substitutes, such as glass and carbon fibers, and the lack of availability of raw materials and suppliers are some of the factors that challenge the growth of the market. Whereas, factors such as the development of novel basalt fiber types, the increasing energy efficiency of equipment, and the high use of associated petroleum gas for melting basalt rocks provide growth opportunities to the market during the forecast period. (Get 15% Discount on Buying this Report) Key players to contribute to the growth of the market The key players that are dominating the global basalt fibers market include Shanxi Basalt Fiber Technology Co., Asamer Basaltic Fibers GmbH, BASALTEX NV, Sudaglass Fiber Technology Inc., Mafic SA, and others. The companies are constantly contributing to attract customers and also to stay competitive in the market. The companies are focusing on geographical expansion, mergers & acquisitions, finding a new market or innovate in their core competency to expand individual market share. For instance, in January 2018, Mafic SA and Michelman, inc. announced the strategic partnership that is focused on the innovation of the basalt fiber composites offered by the company, which aids the company to offer enhanced products to its customers across the region. In December 2017, Michelman and Mafic announced the partnership and launched an innovative product that aims at increasing the performance and surface characteristics of basalt fibers and their utilization in high-performance composites. In June 2017, Kamenny Vek started the production of 2000 tex direct basalt fiber roving. These direct rovings offer benefits such as zero catenary and high mechanical strength in applications where high tex is required. Current Market Trends Covered in the Market Report:
Global Basalt Fiber Market - Segmentation By Form
By End-use
Global Basalt Fiber Market – Segment by Region North America
Europe
Asia-Pacific
Rest of the World
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