The global
continuous basalt fiber market was valued at USD 51.4 million in 2012
and is expected to reach USD 104.7 million in 2019, growing at a CAGR
of 10.9% between 2013 and 2019.
Continuous basalt
fiber are more efficient and eco friendly than most glass &
carbon fibers. Continuous basalt fibers can be processed to have
higher tensile strength than steel and are rust free as they are
chemically inert. Thus, superior physical properties coupled with
easy renewability of continuous basalt fiber have been a major
driving factor for the demand of these fibers. Continuous basalt
fibers are employed in the production of various components of wind
turbines, majorly blades. Thus, the growing demand for wind energy is
expected to be a major growth opportunity in the coming years.
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Building &
construction emerged as the largest application segment of continuous
basalt fiber and accounted for nearly 37% of the total demand in
2012. Building & construction was followed by transportation and
is expected to reach USD 18.3 million by 2019. Electronics is
expected to be the fastest growing application in terms of volume
growing at an estimated CAGR of 12.8% from 2013 to 2019. Demand for
basalt fibre in other application segment was 1,237.7 tons in 2012.
Other applications segment is mainly comprises of sports equipments
and aeronautic components, etc.
North America was
the leading consumer of continuous basalt fiber and accounted for
nearly 39.6% of the overall market in 2012. Asia Pacific is expected
to be the fastest growing region owing to high GDP growth rate and
increasing disposable income. The region is expected to grow at a
CAGR of 10.9% in terms of consumption for the period of 2013 to 2019.
The European market was valued at USD 12.8 million in 2012.
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The market is
dominated by Russian and Ukraine players due to high research
activities and large basalt reserves. Some of the major industry
participants include Kamenny Vek, Basaltex NV, Sudaglass Fiber
Technology, and Mafic SA among others. Asian players are slowing
entering into the market as it has huge basalt reserves.
This report segments
the global continuous basalt fiber market as follows:
Continuous
Basalt Fiber Market: Application Analysis
Molded
Materials
Transportation
Electronics
Building &
Construction
Others
(Including sports equipments, defense, space and aeronautic
components, etc.)
Continuous
Basalt Fiber Market: Regional Analysis
North
America
Europe
Asia Pacific
Rest of the
World
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