MarketResearchNest.com adds “Global Continuous Basalt Fiber Market 2017-2021” new report to its research database. The report spread across 78 pages with table and figures in it.
Research analysts forecast the global continuous basalt fiber market to grow at a CAGR of 11.07% during the period 2017-2021.
About Continuous Basalt Fiber
Continuous basalt fiber is a part of the global concrete fiber market. The total market size for concrete fiber was $2,200 million in 2016. The global concrete fiber market contains different types of fibers such as synthetic fiber, steel fiber, glass fiber, natural fiber, and basalt fiber. Continuous basalt fiber constitutes 3.39% of the global concrete fiber market. Crushed basalt rock is the raw material for continuous basalt fiber. Basalt is a volcanic (igneous) rock formed by vigorous cooling of basaltic lava at the surface.
Covered in this report
The report covers the present scenario and the growth prospects of the global continuous basalt fiber market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
Browse full table of contents and data tables at https://www.marketresearchnest.com/global-continuous-basalt-fiber-market-2017-2021.html
The market is divided into the following segments based on geography:
Technavio’s report, Global Continuous Basalt Fiber Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Continuous Basalt Fiber Market 2017-2021
Technavio recognizes the following companies as the key players in the global continuous basalt fiber market: BASALTEX, Jiangsu Green Materials Vally New Material T&D, Kamenny Vek, Shanxi Basalt Fiber Technology, and Technobasalt.
Other Prominent Vendors in the market are: Mudanjiang Jinshi Basalt Fiber, Zhejiang GBF Basalt Fiber, MAFIC, Company Mineral 7, ISOMATEX, US Basalt, Sudaglass Fiber Technology, EAS Fiberglas, Basalt Fiber Tech, ASA.TEC, and Galen.
Commenting on the report, an analyst from Research team said: “The latest trend gaining momentum in the market is Rise in technological advancements. Technological innovations have helped the global continuous basalt fiber industry to grow in different areas such as assembled roving, direct roving, gun roving, chopped strands, and twisted yarns. The primary products are used to manufacture advanced products such as tapes, fabrics, non-woven, reinforcing mesh, yarns, chopped fiber, and roving fabrics. These products are used for diverse applications.”
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According to the report, one of the major drivers for this market is Increasing demand from construction and automotive segment. Increasing demand from the civil and industrial construction and automobile segments is driving the global continuous basalt fiber market. Increasing demand for high-performance sealing products, tires and tire adhesives, and rapid growth of the automotive industry in developing economies are some of the factors driving the growth of the market. Basalt fibers are resistant to UV, high-energy electromagnetic radiation, and acids. They maintain their properties in cold temperatures also. Basalt fibers are also used in heat isolation material for manufacturing of automobile mufflers, panels, screens, plastics, reinforcing material for shoes and disks, constructional plastics, non-flammable composite materials, cords for automobile tire covers, chopped fiber for reinforcing plastic. Basalt roving used for the production of fuel tanks, LPG and compressed NG cylinders. Basalt fiber is widely used in corrosion and wear resistant coating materials for proof covering of the bottoms of cars. Thus, the importance of basalt fiber in automobiles plays a vital role in its market growth.
Further, the report states that one of the major factors hindering the growth of this market is Increasing threat from substitutes. The market faces stiff competition from the glass fiber market as well as the carbon fiber market, as these products have similar applications in the automobile, construction, agricultural, energy, and chemical industries. The competition arises because glass and carbon fiber were introduced earlier than continuous basalt fiber and thus, have loyal consumers. This leads to a larger number of manufacturers of glass and carbon fibers than that of continuous basalt fiber.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key questions answered in this report: What will the market size be in 2021 and what will the growth rate be; What are the key market trends; What is driving this market; What are the challenges to market growth; Who are the key vendors in this market space; What are the market opportunities and threats faced by the key vendors; What are the strengths and weaknesses of the key vendors;
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Mr. Jeet Jain