Albany, NY -- (SBWIRE) -- 02/04/2015 -- According "Continuous Basalt Fiber Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", a new research report published by Transparency Market Research, the global continuous basalt fiber market that was worth US$51.4 million in 2012 is expected to be valued at US$104.7 million by the end of 2019, registering growth at a CAGR of 10.9% during the forecast period from 2013 to 2019.

According to the report, the demand for continuous basalt fiber is primarily driven by its eco-friendly nature. In order to manufacture continuous basalt fibers, basalt rock is first exposed to high temperatures for melting it, and then it is processed as per the needs and preferences of the end-user industry. Continuous basalt fibers are peculiar fibers that can be manufactured only from basalt rocks and they possess physical features that are quite similar to glass fibers. However, in terms of strength, continuous basalt fibers have a better tensile strength than glass fibers, apart from being chemically inert to salts, acids, and alkalis. These fibers are used in the production of various components of wind turbines such as blades. Therefore, according to the report, the growth in demand for wind energy will directly correspond to the expansion of market for continuous basalt fiber.

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The research report by Transparency Market Research (TMR) presents a comprehensive study that analyzes various factors such as growth drivers, market restraints, and growth opportunities prevailing in the global market for continuous basalt fiber. Based on the findings by the expert research team at TMR, the report presents refined forecasts on growth prospects of the market both in terms of revenue generated and volumes produced.

Among the segments categorized on the basis of product applications, the construction sector registered the maximum demand for continuous basalt fiber in 2012, accounting for 37% of the total demand generated in the global market that year. This segment was closely followed by the transportation segment. According to the report, the electronics segment is expected to register rapid growth in terms of volume, at a projected CAGR of 12.8% during the forecast period from 2013 to 2019.

Browse the full Global Continuous Basalt Fiber Market For Molded Materials, Transportation, Electronics, Building & Construction and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at http://www.transparencymarketresearch.com/continuous-basalt-fiber-market.html

Geographically, North America emerged as the largest consumer market for continuous basalt fiber worldwide, accounting for almost 39.6% of the global market in 2012. The report indicates amazing growth of Asia Pacific in terms of increasing demand for continuous basalt fiber. Factors such as high growth rate of GDP and increasing disposable income of individuals will significantly boost the demand for basalt fiber in the region, which is expected to register growth at a CAGR of 10.9% on the basis of consumption during the forecast period from 2013 to 2019.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

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