Business

Continuous Basalt Fiber Market to Reach a Value of US$104.7 Mn By 2019

Continuous basalt fibers market are fibers manufactured by heating and processing basalt rocks. Basalt, a volcanic rock is abundantly available across the globe in earth’s crust and ocean beds and is the only raw material employed in manufacturing of these fibers. Continuous basalt fibers have similar physical characteristics as glass fibers but possess higher tensile strength, durability and are also inert to various acids, salts and alkalis. On account of its superior physical properties and easy renewability, continuous basalt fibers are an effective substitute for glass & carbon fibers, asbestos, nylon, and steel among others. The major applications of continuous basalt fibers include molded materials, transportation, electronics, building & construction and other applications such as sports equipments, aviation, and defense among others.

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The demand for continuous basalt fiber is driven mainly on account of its superior physical properties over its traditional substitutes such as glass fiber and steel. However, high technological cost of these fibers has restrained the market growth. With increasing research & development activities, the cost is expected to reduce in the near future thus driving market growth in the near future. Continuous basalt fibers are employed in the production of various components of wind turbines including blades. Thus increasing threat of energy crisis coupled with government policies to promote the use of wind energy is expected to emerge as a major growth opportunity for the industry.

The information Presented in this Review is Based on Press-Release by TMR

Continuous basalt fiber can be processed to have higher tensile strength than steel and are chemically inert hence doesn’t rust thus increasing durability of structures. In 2012, 37% of the global consumption of continuous basalt fiber was employed for building & construction applications which emerged as the largest application segment for these fibers. Exponentially increasing e-waste is expected to drive the demand for renewable products in electronic applications. On account of which, electronics is expected to be the fastest growing application segment for continuous basalt fibers during the forecast period.

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