Basalt Composites Market to experience an impressive growth of 8.8% during 2016-2021
February 10, 2020
Recently, industry noticed an increasing interest in the development of basalt composites for acidic and corrosion applications, such as rebar and seawall for sea shore applications. This is driving composite parts fabricators to develop parts with basalt composites. The global basalt composites market is expected to experience an impressive CAGR of 8.8% during the forecast period of 2016 to 2021. Higher performance than e-glass composites, excellent corrosion resistance, and technology development are some of the major growth drivers of basalt composites market.
Click here to get a Free Sample of the report (with additional insights):
https://www.stratviewresearch.com/Request-Sample/183/basalt-composites-market.html
Or
Read the summary of the Basalt Composite Market Report here:
https://www.stratviewresearch.com/183/basalt-composites-market.html
Basalt Composites Market Segment Insights:
By Fibers Type:
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. Currently, Russia and Ukraine are the largest producers of basalt fibers worldwide. There is also a remarkable work going on related to the production of basalt fibers in China. At present, most of the Chinese players are running at very low production capacity which is expected to increase over the next five years.
Basalt composites offer several benefits over its nearest rival E-glass composites, such as a specific strength 40% higher than E-glass, and a specific stiffness 20% higher than the glass composite. The basalt composite is also naturally resistant to ultraviolet (UV) and high-energy electromagnetic radiation, maintain their properties in cold temperature, and provides better acid resistance.
Composites industry has not yet leveraged the full potential of basalt composites due to the dominance of glass fiber, inconsistent properties of basalt fibers, high cost, and the most importantly bureaucratic approach towards basalt fiber acceptance. Glass fibers have an excellent track record and well proven technology whereas parts fabricators have less knowledge about the advantages of basalt fibers and are very much reluctant on using it.
By Building and construction Type:
Building and construction segment is expected to remain the largest end industry for basalt composites during the forecast period. The segment is also likely to experience the fastest growth over the next five years. Basalt composite based rebar is one of the most attractive applications in building & construction segment. Transportation segment is also likely to experience a healthy growth rate over the next five years.
There are several manufacturing processes available for making parts with basalt composites in which pultrusion is the most popular one. The process is expected to remain the most dominant manufacturing process during the forecast period and is highly suitable for manufacturing rebars and sea walls. Other key manufacturing processes include filament winding and resin infusion.
By Region:
Europe is expected to remain the largest market for basalt composites during the forecast period. Russia and Ukraine drive the demand of basalt composites market in the European region. There are several composite part fabricators in Russia and Ukraine using basalt composites and serving various industries. Asia-Pacific is the fastest growing market for basalt composites. China is the growth engine of the Asia-Pacific market during the forecast period. Market entry of several players and high focus on basalt composites are likely to drive the demand in China.
Key Players:
The supply chain of this market comprises raw material suppliers, basalt fiber manufacturers, resin suppliers, part fabricators, distributors, OEMs, and end users. The global basalt composites market is moderately consolidated with presence of very limited players. The key basalt composite manufacturers are Technobasalt, GBF Basalt Fiber Co. Ltd, Asamer Basaltic Fibers, and Sudaglass Fiber Technology. New product development, regional expansion, and long term relations are the key strategies adopted by the major players to gain competitive edge in the market.
Click below to run through the detailed ToC of the report:
https://www.stratviewresearch.com/toc/183/basalt-composites-market.html
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
Based on the research, a proper report is crafted with the following key features:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Click here for other high value market reports from Stratview Research in the Advanced Materials Industry:
https://www.stratviewresearch.com/market-reports/Advanced-Materials.html
About Stratview Research
Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas.
We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies.
Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making.
For enquiries,
Contact:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176