The burden of regulations for the automotive manufacturers to reduce the vehicle weight has triggered the demand for basalt fibers by nearly 7% during the past four years, explains Fact.MR. The stringent regulations prevailing in the automotive industry regarding the reduction of vehicle weight to reduce emissions has positively impacted the demand for basalt fibers. Moreover, composites made of basalt fibers are being widely used in the aerospace industry for fuel efficiency. The additional properties of fire protection have led to a rise in the demand from the fire protection clothing segment.
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Attributed to superior properties as compared to other glass and carbon fiber and steel reinforcements, there has been a constant rise in the demand for basalt fibers. Only 1/10th of basalt fibers is required as a reinforcing material to obtain the same strength as steel. Basalt fibers also exhibit good mechanical strength, chemical and thermal resistance, and are also economically priced as compared to carbon fibers.
The increasing penetration of light-weight composite material for automotive, aerospace and building and construction industry is projected to boost the demand for basalt fibers over the forecast period. The rising concern over energy conservation has further led to the growth of the renewable wind energy generation industry, thus, creating traction in the basalt fiber market.
Among the various regions, North America and Europe are estimated to account for a value share of approximately 60% in the global basalt fiber market by 2018-end. Europe is projected to lead the global basalt fibers market both in terms of production and consumption. Russia holds a significant share in the European basalt fibers market. The region has witnessed a surge in the demand for basalt fibers from the automotive industry as there are stringent regulations prevailing in the EU regarding vehicle emissions and greenhouse gas amongst others.
Read Detailed Index of full Research Study at @ https://www.factmr.com/report/1312/basalt-fibers-market
China is projected to grow at a relatively higher CAGR over the forecast period in the basalt fiber market. A number of new players have ventured into the market to cater to the growing demand for basalt fibers in China and across other regions. Several manufacturers from China have shown a keen interest in the production of basalt fibers and is thus, projected to grow significantly. Latin America and MEA are projected to remain as low-volume-high-growth regions in the basalt fiber market over the forecast period.
In-depth research and development have also been conducted for further reducing the cost of production for basalt fibers. On the basis of product type, the roving segment is expected to remain dominant and account for nearly 50% of the global basalt fiber market. In the present scenario, there are only a few manufacturers of basalt fibers in Russia, Ukraine, China and the U.S. amongst others. However, with the ongoing research and developments and investments in the production of basalt fibers, new facilities are expected to be set-up.
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About Us
We are an insights-driven global market intelligence company with a unique purpose: enabling organizations make better decisions. We do this by creating an ecosystem where an eclectic cognitive collaboration between human imagination and data science leads to path breaking ideas.
Our vision is to foster a pervasive culture where critical business decisions are taken on the basis of facts rather than assumptions and perceptions.
Our mission is empowerment – empowerment of free-thought; empowerment of fact-based decisions; empowerment of decisive action.
For More Information Kindly Contact:
Suite 9884
27 Upper Pembroke Street,
Dublin 2, Ireland
Tel: +353-1-4434-232
Mail: sales@factmr.com
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Access the PDF sample of the report @ https://www.factmr.com/connectus/sample?flag=S&rep_id=1312
Attributed to superior properties as compared to other glass and carbon fiber and steel reinforcements, there has been a constant rise in the demand for basalt fibers. Only 1/10th of basalt fibers is required as a reinforcing material to obtain the same strength as steel. Basalt fibers also exhibit good mechanical strength, chemical and thermal resistance, and are also economically priced as compared to carbon fibers.
The increasing penetration of light-weight composite material for automotive, aerospace and building and construction industry is projected to boost the demand for basalt fibers over the forecast period. The rising concern over energy conservation has further led to the growth of the renewable wind energy generation industry, thus, creating traction in the basalt fiber market.
Among the various regions, North America and Europe are estimated to account for a value share of approximately 60% in the global basalt fiber market by 2018-end. Europe is projected to lead the global basalt fibers market both in terms of production and consumption. Russia holds a significant share in the European basalt fibers market. The region has witnessed a surge in the demand for basalt fibers from the automotive industry as there are stringent regulations prevailing in the EU regarding vehicle emissions and greenhouse gas amongst others.
Read Detailed Index of full Research Study at @ https://www.factmr.com/report/1312/basalt-fibers-market
China is projected to grow at a relatively higher CAGR over the forecast period in the basalt fiber market. A number of new players have ventured into the market to cater to the growing demand for basalt fibers in China and across other regions. Several manufacturers from China have shown a keen interest in the production of basalt fibers and is thus, projected to grow significantly. Latin America and MEA are projected to remain as low-volume-high-growth regions in the basalt fiber market over the forecast period.
In-depth research and development have also been conducted for further reducing the cost of production for basalt fibers. On the basis of product type, the roving segment is expected to remain dominant and account for nearly 50% of the global basalt fiber market. In the present scenario, there are only a few manufacturers of basalt fibers in Russia, Ukraine, China and the U.S. amongst others. However, with the ongoing research and developments and investments in the production of basalt fibers, new facilities are expected to be set-up.
Request for the Customization of the report: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1312
About Us
We are an insights-driven global market intelligence company with a unique purpose: enabling organizations make better decisions. We do this by creating an ecosystem where an eclectic cognitive collaboration between human imagination and data science leads to path breaking ideas.
Our vision is to foster a pervasive culture where critical business decisions are taken on the basis of facts rather than assumptions and perceptions.
Our mission is empowerment – empowerment of free-thought; empowerment of fact-based decisions; empowerment of decisive action.
For More Information Kindly Contact:
Suite 9884
27 Upper Pembroke Street,
Dublin 2, Ireland
Tel: +353-1-4434-232
Mail: sales@factmr.com
Read Blog: https://theheraldmedia.com/
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