DUBLIN, June 03, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/gbdtzw/basalt_fiber) has announced the addition of the "Basalt Fiber Market by Type, By Application, and By Region - Global Trends and Forecasts to 2020" report to their offering.
The global basalt fiber market is projected to reach $200 million by 2020, growing at a CAGR of 13.1% between 2015 and 2020.
The global basalt fiber market, has witnessed a significant growth in the past few years. This growth is estimated to continue in the coming years. High demand for basalt fibers from various application industries, such as building & constructions, aerospace, wind energy due to its unique properties are the major drivers as per the current market dynamics. Also, such demand is backed by growing economies in Asia-Pacific region. The upcoming technological advancements, raw material developments, and innovative techniques developed for the use of basalt fibres will be the key influencing factors for the global market, with increased emphasis on the current cost and their applications.
Currently, Europe & North America dominates the basalt fiber market. Among all the countries in this region, U.S., Germany and Russia are important consumers of basalt fibers. The market size in terms of volume is comparatively low in the RoW, but is estimated to have a developing CAGR between 2015 and 2020.
Almost 80% of the total basalt fibers demand in 2014 was from building & construction, automobiles, and wind energy industries. The major reason behind this is basalt fibers are ideally suited for demanding applications requiring high temperatures, chemical resistance, durability, mechanical strength and low water absorption.
Asia-Pacific and European regions are the most active markets in terms of strategic initiatives, owing to their emerging and mature market demands, respectively. The superior end-user industry growth, amplified local manufacturing, and increased number of domestic players in vertical market segments, such as construction applications, and automotive applications in the Asia-Pacific region can be the important drivers in terms of consumption of the basalt fibers.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Basalt Fiber Market, By Type
9 Basalt Fiber Market, By Applications
10 Basalt Fiber Market, By Region
12 Company Profiles
- Hebei Tong-Hui Technology Co., Ltd.
- Jiangsu Tianlong Continuous Basalt Fiber High-Tech Co., Ltd.
- Kamenny Vek
- Mafic Sa
- Mineral 7
- Shanxi Basalt Fiber Technology Co., Ltd
- Sudaglass Fiber Technology
- Zhejiang Gbf Basalt Fiber Co., Ltd
For more information visit http://www.researchandmarkets.com/research/gbdtzw/basalt_fiber