Basalt Fibre is a material made from extremely fine fibers of basalt, which is composed of the minerals plagioclase, pyroxene, and olivine. It is similar to fiberglass, having better physicomechanical properties than fiberglass, but being significantly cheaper than carbon fiber. It is used as a fireproof textile in the aerospace and automotive industries and can also be used as a composite to produce products such as camera tripods.
Basalt Fibre is becoming increasingly popular in the construction industry due to its superior strength, durability, and thermal and acoustic insulation properties. It can be used for reinforcing concrete, for making basalt-reinforced polyester composites, and for creating a wide range of construction products, such as basalt-fibre insulation boards, thermal insulation systems, and even artificial stone.
On a global level, Basalt Fibre is becoming increasingly popular due to its cost effectiveness, sustainability, and durability. It is used in a variety of industries, including automotive, aerospace, construction, and industrial engineering. Countries such as Russia, China, and the United States are leading the way in terms of Basalt Fibre production and usage.
The global Basalt Fibre market was valued at US$ 62 million in 2022 and is anticipated to reach US$ 114.1 million by 2029, witnessing a CAGR of 9.0% during the forecast period 2023-2029. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
A detailed market research report on Global Basalt Fibre Market available at: https://www.themarketreports.com/report/global-basalt-fibre-market-research-report
This report aims to provide a comprehensive presentation of the global market for Basalt Fibre, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Basalt Fibre.
The key players are Kamenny Vek, Zhejiang GBF, Technobasalt-Invest, Sudaglass Fiber, Basaltex, Zaomineral7, Sichuan Aerospace, Liaoning Jinshi, Mudanjiang Electric, Mafic SA, Shanxi Basalt Fiber, Meltrock, GMVChina, Jiangsu Tianlong, Hebei Tonghui etc. Top 3 companies occupied about 53% market share.
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