Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Basalt fiber is a relative newcomer to fiber reinforced polymers (FRPs) and structural composites. It has a similar chemical composition as glass fiber but has better strength characteristics, and unlike most glass fibers is highly resistant to alkaline, acidic and salt attack making it a good candidate for concrete, bridge and shoreline structures. Compared to carbon and aramid fiber, it has the features of wider application temperature range -452° F to 1,200° F (-269° C to +650° C), higher oxidation resistance, higher radiation resistance, higher compression strength, and higher shear strength. A wide range of applications of basalt and its products include its uses in civil engineering, automotive, boat building, wind turbine blades, and sporting goods
Upsurge in demand for noncorrosive materials, advancement in technology and environmentally friendly and easily recyclable material are some of the factors driving the basalt fibre market. Furthermore, enhanced physical, mechanical and chemical properties is also the major factor driving the basalt fibre. However, competition with matured products is one of the factor hampering the basalt fibre market.
The basalt fibre is segmented by usage type, form, end user and geography
Various basalt fibre used in this industry comprise of composites and non-composites. Among these, Basalt composites contain basalt fibers as a reinforcement and epoxy or polyester resin system as a matrix. Basalt fibers are produced from hard and dense volcanic rock that are abundantly available in most of the countries across the globe.
Basalt fibers are commercialized in various forms such as, continuous basalt fiber and discrete basalt fiber. Due to the growing demand from the construction & infrastructure sector, the continuous basalt fiber segment is on high demand.
The major end users of basalt fibres industry are construction & infrastructure, automotive & transportation, electrical & electronics, wind energy, marine and others. The construction & infrastructure segment accounted for the largest market share. The increasing use of basalt fiber in the construction & infrastructure industry is mainly due to its environmentally friendly properties, good compatibility with concrete, and easy mixing at high concentration.
Based on geography, the market is segmented into Asia-Pacific, North America, Western Europe, Central & Eastern Europe, Middle East & Africa and South America. Asia Pacific emerged as the largest consumer and dominated the basalt fibre market in 2018, owing to huge demand for basalt fibre from countries such as Japan, China, India and increasing consumption for basalt fibre in construction & infrastructure, electrical & electronics, and automotive is benefitting the overall regional market.
The global basalt fibre market is led by key companies such as , Kamenny VEK, Zhejiang GBF Basalt Fiber Co., Mafic SA, Technobasalt-Invest LLC, Russian Basalt, ISOMATEX S.A., INCOTELOGY GmbH, Sudaglass Basalt Fiber Technology, Shanxi Basalt Fiber Technology Co. TD, Mudanjiang Jinshi Basalt Fiber Co. Ltd, Basalt Technology UK Limited, Sichuan Aerospace Tuoxin Basalt Industrial Co., Ltd, ASA. Tec GmbH, Sichuan Fiberglass Group Co., Ltd., Nmg Composites Co., Ltd, Fiberbas Construction and Building Technologies, Liaoning Jinshi Technology Group Co., Ltd. and Jiangsu Green Materials Vally New Material T&D Co., Ltd. Foremost companies have invested huge capital in mergers & acquisitions and research & development activities to develop advanced products in the market.
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