- The key vendors in the global continuous basalt fiber market 2015-2019 are Basaltex, Basalt Fiber Technologies, GMVChina, Kamenny Vek, Mafic, Shanxi Basalt Fiber Technology and Technobasalt
London, 14 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global continuous basalt fiber market 2015-2019. Several new applications for continuous basalt fiber are being explored, especially in the automotive, construction, and aerospace industries. The fiber is an important constituent of advanced composite materials and are used in shipbuilding as salt waterproof composite products and materials. It is also used in heat-insulated plates, reinforced paint, and varnish coverings for engine compartments and ship hulls. The global continuous basalt fiber market is expected to grow at a CAGR of 10.83% during the forecast period of 2014-2019.
Continuous basalt fiber has high durability, strength, and better mechanical properties. Hence, it is increasingly being used in the building and construction sector. For pavement reinforcement, continuous basalt fiber geo-meshes are significantly preferred over glass and metal mesh. These can withstand a high temperature of molten asphalt, and are ecologically safe. They are lighter and chemically inert compared to metallic meshes and are preferred for soil and embankment stabilization.
“Manufacturers are expanding their production capacities in China due to rapidly growing end-user industries,” says Faisal Ghaus, Vice President of Technavio Research.
“The growth of industries such as automotive and construction are leading to a rapid evolution of downstream processing industries that act as primary consumers for various materials, including continuous basalt fiber.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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