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Continuous Basalt Fiber Market is Expected to Reach $473.6 Million by 2030
PORTLAND, OR, UNITED STATES, May 25, 2023 /einpresswire.com / -- Continuous Basalt Fiber (CBF) is a type of fiber derived from the natural volcanic rock called basalt. It is produced by melting basalt rock at high temperatures and then drawing the molten material into thin fibers. These fibers are then coated with a sizing agent to enhance their properties and provide compatibility with different matrices and applications.
AMR Says, the global continuous basalt fiber market size was valued at $173.6 million in 2020, and is expected to reach $473.6 million by 2030, with a CAGR of 10.3% from 2021 to 2030.
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Continuous basalt fiber is manufactured from basalt rock, by melting at 14000 C. Continuous basalt fiber is used in automotive, construction, aerospace, defense, and many others industries, owing to features such as having high tensile strength, high structural integrity, and mechanical properties. Continuous basalt fiber has gained importance, owing to a constant demand for lightweight materials with strength in industries such as defense, automotive, aerospace, and other manufacturing industries. Continuous basalt fiber offers high strength and is used as a replacement for materials such as aluminum and steel. In addition, they offer resistance to corrosion, wear, impact, and fire.
Basalt fiber reinforced polymer (BFRP) reinforcing bars have recently been introduced as an alternative to steel reinforcement for concrete structures, as well as external support for retrofitting on concrete structures and building structures, which fuels growth of the global continuous basalt fiber market. Benefits associated with continuous basalt fiber such as high tensile strength, environmentally friendly, and recyclable material, which is expected to rise adoption of continuous basalt fiber in automotive, defense, and other end users, which fuels the global continuous basalt fiber market growth.
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BASALTEX NV, HENGDIAN GROUP (HG GBF BASALT FIBER CO. LTD), SHANXI YAXIN GROUP (SHANXI BASALT FIBER TECHNOLOGY CO., LTD), FIBERBAS, JILIN TONGXIN BASALT TECHNOLOGY CO. LTD, ARMBASALT CJSC, TECHNOBASALT-INVEST LLC, KAMENNY VEK, LAVAINTEL, ISOMATEX S.A.
Region wise, the global continuous basalt fiber market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global continuous basalt fiber market share, and is anticipated to secure a leading position during the forecast period.
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