Globally, Continuous basalt fiber manufacturing is valued at around $100 million and expected to double in the coming decade.
Basalt fiber reinforced concrete market size is anticipated to expand on account of properties of the product, such as high damping and radio transparency.
Global consulting agency Global Market Insights released a new research report on global basalt fiber market.
According to the researchers, global mineral wool insulation market is expected to reach $23.7 billion by 2023 with a CAGR of 3.8% from 2018 to 2023.
The global basalt fiber market is projected to grow with a CAGR of 13% in a period of 2017-2026.
Basalt fiber market is expected to grow at a CAGR of 11.8% between 2019 and 2024
Basalt fiber and its applications in various industries are attracting an ever-growing interest for its sustainability and excellent properties.