Basalt Fiber Market Size Surges to USD 264.5 Million: An In-Depth Analysis
The global basalt fiber market is poised for significant growth, driven by a surge in demand across various industries, including automotive & transportation, building & infrastructure, wind energy, electrical & electronics, and more. According to recent market analysis, the market size for basalt fiber was valued at USD 264.5 million in 2021, with a projected compound annual growth rate (CAGR) of 11.9% during the forecast period.
Exceptional Qualities Fueling Market Expansion
Basalt fibers rapid adoption can be attributed to its outstanding qualities, including thermal stability, heat and sound insulation, vibration resistance, and durability. Furthermore, its resistance to corrosion makes it a preferred choice in various applications. The market is also benefitting from the i...
