Leading market intelligence company Transparency Market Research (TMR) announces the release of a new research report. Analyzing the global continuous basalt fiber market, the report presents historical, present, and forecast data to help market players and investors come up with informed market strategies. The report is titled ‘Continuous Basalt Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019’ and is available on TMR’s website for sale.
According to the report, the global continuous basalt fiber market is expected to exhibit a robust 10.9% CAGR from 2013 to 2019. The market, valued at US$51.4 mn in 2012, is expected to more than double in valuation over the forecast period to end up at US$104.7 mn by 2019.
Continuous basalt fibers are fine strands of basalt manufactured by melting basalt rock. Continuous basalt fibers are formed by forcing molten basalt through small pores. They possess superior mechanical properties in comparison to fiberglass due to the high structural integrity of basalt. Due to the relative abundance of basalt rock, continuous basalt fibers are also cheaper than carbon fiber, which has helped boost their demand. The manufacturing process of continuous basalt fibers is relatively simple – no additives are included in the process, which consists of simply melting crushed basalt rock and drawing it into strands.
The high strength and durability of basalt fibers render them perfect for use in various applications such as electronics, transportation, building and construction, molded materials, aviation and defense, etc. The chemical inertness of continuous basalt fibers also helps boost their demand in these application sectors. As a result, continuous basalt fibers are steadily replacing the more expensive glass and carbon fibers in several applications.
The rising demand for continuous basalt fibers as an alternative to glass and carbon fibers is also expected to bring down the price of basalt fibers, which will ameliorate the only major restraint acting on the global continuous basalt fibers market currently.
Building and construction emerged as the largest application segment of the global continuous basalt fiber market, according to TMR. The chemical inertness and high structural strength of basalt fibers provide a feasible long-term means to securing the structural integrity of construction projects. According to TMR analysts, the sector accounted for 37% of the global continuous basalt fiber market in 2012. In contrast, the electronics and transportation application segments of the continuous basalt fiber market are expected to exhibit the fastest growth rates in the aforementioned forecast period – 12.8% and 13%, respectively.
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The North America market for continuous basalt fibers emerged as the largest consumer in 2012, with a share of 39%. The strong performance of all three major application segments of the continuous basalt fibers market has helped the North America market post strong sales figures. On the other side of the coin, China is the largest exporter of continuous basalt fibers and is expected to remain in the top spot in the coming years.
Major continuous basalt fiber manufacturers profiled in the report include Kamenny Vek, Basaltex NV, Technobasalt-Invest LLC, Sudaglass Fiber Technology, Mafic SA, Zhejiang GBF Basalt Fiber Co., Ltd., Shanxi Basalt Fibre Technology Co., Ltd., Sichuan Aerospace Tuoxin Basalt Industrial Co., Ltd., and Mudanjiang Jinshi Basalt Fiber Co., Ltd. The report provides a product overview, a look at the strategies employed by the player, and elaborative data about their SWOTs.
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