Basalt Fiber Market - Forecast (2021 - 2026)
Basalt Fiber Market size is forecast to reach $429 million by 2025, after growing at a CAGR of 11.2% during 2020-2025. Basalt fiber is gaining popularity owing to its excellent properties, such as thermal and cold resistance, tensile strength, and chemical resistance to corrosion compared to Fiberglass and other FRP products. It is also environmentally friendly and easily recyclable. Low energy consumption, low cost of basalt, and associated process equipment, high durability and resulting fiber strength, increased demand for high chemical-resistant fibers are driving the market growth of basalt fiber. Recent research studies have led to the advent of new types of basalt, increase energy efficiency of equipment, and promote use of associated petroleum gas for melting basalt rocks. These factors are expected to create lucrative opportunities for market players during the forecast period. Request Sample Basalt Fiber Market Report Coverage The report: “Basalt Fiber Market– Forecast (2020...