Basalt Fiber Market: Polymer Composites Set to Gain Substantial Demand

The purpose of this comprehensive forecast report presented by Fact.MR is to elaborate the various market projections impacting the global basalt fiber market size during the period through 2018-2028. This assessment delivers high-end statistics concerning market size, growth in trends and revenue share (US& Mn) linked to different geographies and segmentation types. Readers can acquire precise insights about market growth trends along with upcoming opportunities that are expected to reshape the overall structure of the basalt fiber market during the forecast period.

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Composed of materials such as pyroxene, olivine, and plagioclase, basalt fibers are similar to fiberglass in physical properties, but the material displays superior physic-mechanical characteristics. Basalt fiber finds extensive application in aerospace and automotive industries, in addition to the production of composites and fire proof textiles. The material is also gaining popularity as it is relatively inexpensive to produce and purchase.

Basalt Fiber Reinforced Polymer Composites Rapidly Gain Traction

Basalt fiber reinforced polymer composites are displaying lucrative potential in the production of construction materials such as rebar. Basalt fiber rebar in particular is anticipated to gradually eat into the market share for steel and glass rebar alternatives. This can be attributed to the fact that basalt fiber rebar is up to 70 percent lighter than steel, and provides benefits such as resistance to chemical corrosion or rust, which can potentially affect glass rebar.

The inclusion of basalt fiber reinforced polymer composites are projected to increase the scope of application with favorable changes in building code regulations, which is also augmented by improvements in manufacturer capacity and efficiency.

Production Challenges of Raw Material Inconsistency Restrict Application

Unlike glass, basalt is opaque. Consequently, manufacturers find it difficult to heat the material uniformly, without the use of advanced technology and equipment, which generates additional costs overall.

One of the major challenges faced by basalt fiber manufacturers is the fact that the raw material for this product occurs naturally. This results in inconsistencies in the physical properties of raw basalt that is mined from various locations around the globe. Consequently, manufacturers are increasing their efforts towards extensive analysis of the basalt sourcing area, to ensure that extraction process is productive commercially. This trend is resulting in advances in the production of standardized products.