Technavio's global continuous basalt fiber market research report forecasts the market to grow at a CAGR of over 11% during the forecast period.
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Technavio has published a new market research report on the global continuous basalt fiber market for the period 2019-2023. (Graphic: Business Wire)
The increasing renewable power generation will be one of the major trends in the global continuous basalt fiber marketduring 2019-2023. The increase in the production and the demand for renewable energy provides a substantial growth opportunity for the global continuous basalt fiber market. The governments around the world are expected to increase their investment in renewable power sources as the concerns regarding environmental pollution and global warming are increasing.
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According to Technavio analysts, one of the key drivers for the global continuous basalt fiber market is the superior qualities of continuous basalt fiber over traditional materials:
Global continuous basalt fiber market: Superior qualities of continuous basalt fiber over traditional materials
The continuous basalt fiber is a substitute for other traditional materials such as steel and glass, particularly in the construction industry. It possesses a high strength-to-weight ratio and better corrosion resistance properties when compared with steel. It has high chemical and fire resistance than glass. This has led to the vendors offering continuous basalt fiber solutions to cater to the demand from the construction industry.
According to a senior research analyst at Technavio, "The basalt fiber is up to 2.5 times stronger and 3 times lighter with respect to tensile strength when compared with steel. It does not rust and is resistant to the action of chemicals, alkalinity, and salt ions inherent in concrete. The basalt fiber has better electrical resistance when compared with steel and it does not interfere in the operation of sensitive electronic devices."
Global continuous basalt fiber market: Segmentation analysis
The global continuous basalt fiber market analysis report provides market segmentation by application (construction, molding, electrical and electronics, and automotive) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major applications, the construction segment held the largest continuous basalt fiber market share in 2018, contributing to over 37% of the market. This application segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for over 41% share. It was followed by EMEA and APAC respectively. The Americas is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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