Continuous Basalt Fiber Market Rising due to Steady Rise in Demand from Electronics and Transportation Applications

Published By : 22 Mar 2016 | Published By : QYRESEARCH

Continuous basalt fibers are fibers made from basalt rock. The manufacturing process of continuous basalt fibers is relatively simple, particularly in comparison to that of other such fibers such as glass fibers and carbon fibers. Basalt rock, which is a common rock all over the world, is simply melted and extruded through nozzles, which results in fine fibers of basalt. Continuous basalt fibers display high mechanical strength as well as high heat resistance.

Continuous basalt fibers have several applications due to their high mechanical strength and relatively costs. The global continuous basalt fiber market was valued at US$51.4 mn in 2012. The market is expected to exhibit a robust CAGR of 10.9% between 2013 and 2019, enabling the market’s valuation to rise to US$104.7 mn by the end of the forecast period.

Boosting Structural Integrity in Transportation, Electronics Emerges as Major Application
Currently, building and construction is the largest application sector of the global continuous basalt fiber market and accounted for a whopping 37% of the market in 2012. The favorable physical characteristics of continuous basalt fibers make them the perfect material, since they provide the dual benefits of increasing the mechanical strength of the building as well as providing insulation. Continuous basalt fibers are also chemically inert and react with few construction materials. This also helps them stay free of corrosion.

In the coming years, however, the transportation and electronics application segments of the global continuous basalt fiber market are expected to emerge as strong contenders in the market. The same properties that drive the demand for continuous basalt fibers from the construction industry are responsible for the increasing demand for the same in electronics and transportation. The application sector of transportation is, in fact, expected to exhibit the fastest growth of all application segments of the continuous basalt fiber market, with a 13% CAGR expected for the sector in the 2013-2019 forecast period.

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