Pune, Maharashtra -- (SBWIRE) -- 02/05/2019 -- Mature Markets to Retain Leadership, though Emerging Markets to Grow Faster
From a regional perspective, 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 fiber market. The region has witnessed growing 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. Moreover, the rising concern over energy conservation has also led to the growth of renewable wind energy generation industry. Thus, creating traction in the global market. North America is also projected to hold a significant share in the global basalt fibers market expanding at a CAGR of 8.3% over the forecast period. China is projected to grow at a relatively higher CAGR over the forecast period. 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. Latin America and MEA are projected to remain low-volume-high-growth regions over the forecast period.
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Sales revenue of basalt fibers is expected to be nearly US$ ('000) 62,568.1 in 2018. By the end of the forecast period, the global basalt fibers market is projected to reach a value of US$ ('000) 120,034.0, recording a CAGR of 8.5%.
Another major factor significantly driving the growth of global basalt fibers market is the increase in the use of light-weight composite materials in automotive industry. The stringent regulations, especially, in North America and Europe region regarding vehicle emissions has led the manufacturers to focus on reduction of weight of vehicle. Basalt fibers are used as composites for the manufacture of vehicle and aircraft bodies as well as components such as exhaust mufflers and brake pads amongst others.
The growing government spending for infrastructural and industrial development has led to a rise in the demand for basalt fibers as reinforcement material for the construction of roads, pavements and bridges amongst others.
However, there are a few challenges with respect to the production of basalt fibers. For instance, the quality and exact chemical composition of the basalt rock required for the formation of basalt fibers is available at only specific locations in Eastern Europe. Therefore, though the raw material is available at cheap cost, it has to be imported. Moreover, the initial set up and equipment cost are quite high and require capital investment, thus posing a major challenge for the manufacturers.
The manufacturers are focusing on developing an alternative low-cost technologies for the production of basalt fibers. As a result, new production plants are projected to come online in the coming years.
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Table of Content Covered in the report are:
1. Executive Summary
A gist of the report, highlighting the key takeaways
1.1. Market Overview
1.2. Market Analysis
1.3. PMR Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
A definition of Basalt Fibers and related market taxonomy
2.1. Market Taxonomy
2.2. Market Definition
3. Basalt Fibers Industry Structure
Tracking the market scenario, with key inferences drawn from historical data, current trends, and future prospects
3.1. Macro-Economic Factors
3.2. Opportunity Analysis
3.3. Global Economic Outlook
3.4. Global Supply demand Scenario
3.4.1. Production Capacity Analysis
3.4.2. Key Importers and Exporters
3.4.3. Supply and Demand Scenario
4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Trends
4.4. Forecast Factors: Relevance and Impact
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5. Global Basalt Fibers Market Analysis 2013–2017 and Forecast 2018–2026, By Region
A detailed, region-wise assessment, providing projections on market growth in key regions
5.1. Introduction / Key Findings
5.2. Historical Market Size (US$ ('000)) and Volume Analysis By Region, 2013 – 2017
5.3. Market Size (US$ ('000)) and Volume Forecast By Region, 2018–2026
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. South East Asia and Pacific
5.3.5. China
5.3.6. Japan
5.3.7. Middle East and Africa
5.4. Market Attractiveness Analysis by Region
6. Global Basalt Fibers Market Analysis 2013–2017 and Forecast 2018–2026, By End Use Industry
6.1. Introduction
6.2. Historical Market Size (US$ ('000)) and Volume Analysis By End Use Industry (2013-2017)
6.3. Market Size (US$ ('000)) and Volume Forecast By End Use Industry (2018-2026)
6.3.1. Building and Construction
6.3.2. Automotive
6.3.3. Aerospace and Defense
6.3.4. Ship Building
6.3.5. Wind Energy Generation
6.3.6. Sports accessories and others
6.4. Market Attractiveness Analysis By End Use Industry
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7. Global Basalt Fibers Market Analysis 2013–2017 and Forecast 2018–2026, By Product Type
7.1. Introduction
7.2. Historical Market Size (US$ ('000)) and Volume Analysis By Product Type (2013-2017)
7.3. Market Size (US$ ('000)) and Volume Forecast By Product Type (2018-2026)
7.3.1. Roving
7.3.2. Chopped strands
7.3.3. Fabric
7.3.4. Mesh and grids
7.3.5. Others
7.4. Market Attractiveness Analysis By Product Type
8. Global Pricing Analysis
8.1. Regional Average Pricing Analysis
8.1.1. North America
8.1.2. Europe
8.1.3. Latin America
8.1.4. Asia Pacific
8.1.5. Middle East & Africa
And Continue...
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